Group Eleven Resources Corp (TSX-V:ZNG) has announced the start of a follow-up drill program stepping out from the recently announced discovery hole at its Ballywire zinc prospect of the PG West Project in Ireland.
The company said mobilization has begun on the previously-announced follow-up program at Ballywire, consisting of an initial five holes totalling approximately 1,500 metres (m).
"We are excited to begin this very important follow-up drill program at Ballywire," Bart Jaworski, CEO, said in a statement.
READ: Group Eleven Resources announces plans for follow up drilling at Ballywire and Carrickittle West prospects in Ireland
"Results from this program should go a long way towards determining the potential for Ballywire to be a Lisheen-scale zinc system in terms of size and grade. It's regional location at the cross-roads of two mineralized trends (the Rathdowney Trend and the Pallas Green Corridor), its three holes of robust mineralization over 1.5km strike-length and its proximity to Glencore's Pallas Green zinc-lead deposit, all bode well for the discovery potential of this area. The presence of elevated germanium is also a potentially significant sweetener that we will, no doubt, investigate further," Jaworski added.
Highlights at Ballywire:
- Step-out distances are planned to range from 80m to 220m from discovery hole G11-468-03. For reference, G11-468-03 was a 410m step-out exploration hole which intersected one of the best holes drilled in Ireland over recent years: 66.0m of mineralization including (i) 6.85m of 15.4% zinc (Zn) + lead (Pb) (11.1% Zn, 4.3% Pb) and 160 grams per ton (g/t) silver (Ag), (ii) 1.71m of 12.2% Zn+Pb (10.3% Zn and 1.9% Pb) and 38 g/t Ag and (iii) 5.00m of 8.3% Zn+Pb (6.2% Zn and 2.1% Pb) and 107 g/t Ag.
- One drill rig will be used for the follow-up program, with results expected in early Q1 2023
- Ballywire discovery area remains open along strike for 3 kilometres (km) to the ENE (EastNorthEast) and 1.5 km to the W (West), as well as, up-dip to the NNW (NorthNorthWest) for at least 500m
- Separately, to test for Energy Critical Metals which may occur in Irish-Type zinc deposits, the company re-assayed high-grade portions of the Ballywire discovery hole
- Assays show significantly elevated germanium (Ge) - currently trading at approx. US$3 an ounce (/oz), 40% higher than silver at US$22/oz - with the majority of grades between 23 g/t Ge and 79 g/t Ge
- The results represent some of the highest Ge grades known in Ireland and compare favourably to grades at Ivanhoe's Kipushi zinc project in DRC (64 g/t Ge), stated by the USGS to be the most significant carbonate-hosted Zn-Pb-Cu system containing notable amounts of Germanium
Other Highlights
- At the Carrickittle West target (Stonepark Project), drilling is expected to begin upon receipt of permitting approvals and as logistical considerations allow
- As previously stated, both follow-up programs at Ballywire and Carrickittle West are expected to be funded from the company's existing treasury
- Drilling on the company's regional targets at the PG West and Stonepark projects have now been completed; results expected in due course; the company has, to date, drilled 6,042m in 2022
- High-grade zinc-lead mineralization at Ballywire is currently pierced by three holes over approximately 1.5 km - 97-468-02 (1997): 2.50m of 6.2% Zn+Pb (3.0% Zn and 3.2% Pb), including 0.50m of 20.3% Zn+Pb (9.6% Zn + 10.7% Pb); G11-468-01 (2021): 3.30m of 12.5% Zn+Pb (10.1% Zn + 2.4% Pb) and 48.3 g/t Ag, including 0.40m of 25.5% Zn+Pb (20.1% Zn and 5.4% Pb) and 92.2 g/t Ag; and G11-468-03 (2022): 6.85m of 15.4% Zn+Pb (11.1% Zn and 4.3% Pb) and 160.3 g/t Ag, including 2.05m of 40.8% Zn+Pb (30.5% Zn and 10.3% Pb) and 384.7 g/t Ag
- The discovery area around G11-468-03 currently remains open and untested along strike for approximately 3km to the ENE and 1.5km to the W, as well as, up-dip to the NNW for at least 500m. Notably, the next nearest historic hole testing the target horizon to the ENE (99-3552-05) is 3 km away and intersected 5.00m of 1.6% Zn+Pb.
Drilling at Ballywire consistently shows mineralized zones to be generally bedding-parallel along the base of the Waulsortian limestone, similar to the morphology of classic Irish-type zinc deposits. The base of the Waulsortian limestone at Ballywire dips to the SSE (SouthSouthEast), shallowing to the NNW, the company said.
Germanium potential
Due to its application in high-tech industries and its scarcity on the Earth's crust, the element germanium (Ge) has been on the European Union List of Critical Raw Materials since 2010. China produces 80% of global supply of Ge and as of 2019, "no trade agreements existed between China and EU regarding germanium trade," according to the European Commission. The primary use of germanium is in fibre optics and high-end solar panel technologies. Ge currently trades at approximately US$1,000 per kg or US$31/oz, about 40% above the price of silver at US$21/oz, the company said.
Outside of some coal deposits, Ge is known to occur in trace quantities within some zinc deposits, including Mississippi Valley Type zinc-lead deposits which are present in Ireland. To test this potential, Group Eleven chose nine core samples of high-grade massive sulphide mineralization from discovery hole G11-468-03. These previous sample pulps were re-analysed using an assay technique specifically suited for gallium, germanium and indium.
The Ballywire zinc prospect is located at the intersection of the south-westerly projection of the Rathdowney Trend, which hosts the past-producing Lisheen and Galmoy zinc mines, and the Pallas Green Corridor. Historic drilling at the Ballywire prospect was sparse, last being worked by operators in 2008. Group Eleven staked the prospect in 2016 based on compelling results from the two most-recent historic holes.
Group Eleven Resources is a mineral exploration company focused on advanced-stage zinc exploration in Ireland.
Contact the author at jon.hopkins@proactiveinvestors.com