Group Eleven Resources Corp has announced the restart of drilling at its 76.56%-owned Stonepark zinc prospect in Ireland.
"We are on track to complete at least 6,000m (metres) of drilling this year as per plan," Bart Jaworski, Group Eleven CEO and director said in a statement.
"The above work does not include follow-up drilling at our recent discovery at 100%-owned Ballywire prospect announced last Tuesday or the deeper target identified at 76.56%-owned Carrickittle West prospect announced on June 16th. We look forward to updating the market on next steps at Ballywire and Carrickittle West in the near term," he added.
READ: Group Eleven Resources provides interim update on its zinc and copper exploration activities in the Republic of Ireland
At Stonepark, three holes of the previously announced six-hole program (totaling 2,300m) have been completed. The next hole, started earlier this week, is located on the southwest portion of the Stonepark Project area, the company said.
Following completion of that hole, drilling will resume on Group Eleven's 100% owned PG West Project, after which the remaining two holes of the Stonepark program will be completed before year-end, it added.
Share options
The company also announced that it has granted incentive stock options to directors, officers and employees of the company, on September 13, 2022, to purchase up to 1,585,000 common shares These options vest over a period of two years from the date of grant, at an exercise price of $0.10 per share.
The company said it has also granted 600,000 deferred share units to three independent directors as an annual award for services provided, in accordance with the provisions of the company's deferred share unit plan.
Group Eleven Resources is a mineral exploration company focused on advanced-stage zinc exploration in Ireland.
Contact the author at jon.hopkins@proactiveinvestors.com