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Interesting part of the G11 CEO statement after the publication of the RNS yesterday;
'results thus far strongly corroborate management’s view that this area has the potential to host zinc mineralization similar in style and scale to Glencore’s nearby Pallas Green deposit.'
Current mcap of the company, including 2 x 100% owned gold projects is now just £2.6M. Glencore, with Pallas Green right next door to Stonepark (major shareholders of Group 11!), returned $4 BILLION to shareholders after the latest set of financial results (record profits!). Just buy the whole company.....
I'd suggest that most investors are here for Stonepark zinc/lead and an eventual buyout by Glencore/G11. We already knew we had some high quality zinc and yesterdays RNS confirms the potential for a lot more. Happy to sit on my hands and wait for the (inevitable) knock on our door and a better offer for our share of the project than was made last time. We just need Teeling to nod in the right places!
Whatever Glencore bid for Stonepark has certainly increased in value after yesterday’s news. every step of de- risking an asset increases value.
Factoring surging Zinc prices helps too.
The likelihood of another approach has increased.
Yesterday’s news was very significant
How long is little old Arkle going to hold onto this mega resource?
Glencore have come knocking before but G11 turned them away.
In my view Glencores interest will be reignited and they including G11 will be looking at getting 100% of Stonepark.
On the other hand how long will it be before someone else throws their hat in the ring with Zinc prices as they are?
Or will we see someone take advantage of this ridiculous Mcap and build a stake and takeover Arkle itself?
Gonna happen at sometime!
Oh and don't mention the gold (as Teeling doesn't LOL).
GL.
Hi bobby
Can u link or post up where the CEO says that.
Thanks
Group Eleven Resources CEO calls drill-hole results at Ireland's Stonepark project 'spectacular'
Markets are pretty depressed atm so I'm happy to wait until the (inevitable?) bid for our minority share of the Stonepark project and walk away with a 10 bagger from here. Well, you can always dream......
Did I forget to mention thet Pallas Green is a Tier 1 resource!
GL.
The market has to wake up and correct this imbalance at some point!
Time to buy is now!
GL.
So, I've calculated that ARKs 23.44% has a value of nearly £3.5billion based on the current Zinc price. This excludes obviously any mining costs etc but to have that size an asset and a tiny £3million market cap as ARK currently has is a staggering imbalance.
What the value of Pallas Green, is it more than 3M
Agreed Cliveas, why didn't the company issue an RNS and why didn't Teeling answer my FOUR emails on the subject of our gold assets? What is this guy doing apart from twiddling his thumbs waiting for Glencore to buy out our share of Stonepark so he can take a belated retirement and handover the reins to someone much more dynamic.....
Absolutely Brill news.
Just away in Jordan atm
The proactive article paints the picture perfectly.
Size of the prize ( which just got closer and potentially upto 45mt) vs £3M MC is off the scale
Why was this not RNS'd apparently renewed beginning of April?
'There’s outrage in Inishowen after the Minister for the Environment, Climate and Communications renewed a licence for gold mining.
Minister Eamon Ryan has renewed the licence of Arkle Resources Ltd to prospect for gold and silver in the peninsula.'
Any more details?
GL.
Group Eleven Resources Ltd. (TSX-V:ZNG) has said its first-ever drill intercept of a major fault structure at its Stonepark project in Limerick, Ireland, strongly corroborates its view that the area has the potential to host zinc mineralization similar in style and scale to Glencore's nearby Pallas Green deposit.
Updating investors on exploration drilling at the project, Group Eleven said it intercepted a major fault structure with zinc mineralization at the Carrickittle West Prospect.
It noted that the structure is on the south side of the Limerick Volcanic Complex (LVC), approximately 5-6 kilometres (km) south of the Pallas Green zinc deposit, cutting through the Waulsortian Limestone (a key unit for zinc in Ireland) and hosting zinc mineralization.
The company reminded investors that its 2022 fully-funded drill program at Stonepark totals six holes and 2,300m. This program is now 82% complete, with three holes totalling 1810.6m completed. It said the remaining three holes totalling 400m are planned to start after ongoing drilling at its Ballywire prospect (PG West Project) is completed over the next two months.
Group Eleven operates and owns a 76.56% stake in the Stonepark zinc project, with the remaining 23.44% held by Arkle Resource PLC. The property hosts a mineral resource estimate totalling 5.1 million tonnes of 8.7% zinc and 2.6% lead (11.3% combined), located 1 kilometre to 2 kilometres west of Glencore's Pallas Green zinc deposit.
Also note the further drills are already fully funded!
Oh and there should now be news on the two gold prospects as well!
All in mcap 3m!!!!
GL.
Yep, ridiculously low mcap. I wonder what Teeling is doing whilst Group 11 are busy drilling Stonepark? How about letting us know what is happening at Inishowen & Mine River for starters?
Time to get in before Glencore come knocking again!
I mean 3m mcap!
GL.
Mirrors Pallas Green!
"Originating at a property-scale, our search for the hypothesized 'mirror-image' of the Pallas Green deposit 1 is now zeroing in on a very specific target, approximately 500m by 2km in area ," stated Bart Jaworski , CEO. "More generally, the southern half of the LVC is starting to emerge as the side hosting major faulting and collapse features – a geological environment conducive to forming major zinc deposits. The above Carrickittle North and West holes represent the first substantial tests of the southern margin of the LVC, and results thus far strongly corroborate management's view that this area has the potential to host zinc mineralization similar in style and scale to Glencore's nearby Pallas Green deposit. Follow-up drilling is strongly warranted."
GL.
VANCOUVER, BC , June 16, 2022 /CNW/ - Group Eleven Resources Corp. (TSXV: ZNG) (OTC: GRLVF) (FRA: 3GE) (" Group Eleven " or the " Company ") is pleased to provide an update on its zinc exploration drilling at the Stonepark project (" Stonepark ", 76.56% Group Eleven, 23.44% Arkle Resources PLC), Ireland .
Highlights:
Group Eleven has returned its first ever drill intercept of a major fault structure in the Limerick region (PG West and Stonepark projects); the structure is on the south side of the Limerick Volcanic Complex (" LVC "), approximately 5-6km south of Glencore's Pallas Green zinc deposit[1], cutting through the Waulsortian Limestone (a key unit for zinc in Ireland ) and hosting zinc mineralization
Generally, faults that intersect the target horizon (base of the Waulsortian Limestone) represent key zinc targets in Ireland ; the most prospective targets are those with the largest fault displacements
G11-2531-01 , a 400m step-out hole drilled at the Carrickittle West prospect, intersected the fault structure at a hole-depth of 544m , showing a large vertical displacement of at least 150m and hosting a 13.9m interval containing local arsenopyrite and sphalerite (including 3.44m of 0.137% Zn+Pb, starting at 539m ) in the immediate hanging wall; a second mineralized zone was also intersected in the footwall (at 591m ) within an intrusive dyke ( 0.19m of 0.558% Zn+Pb)
The above zinc mineralization is interpreted to have been transported (secondary), most likely along the fault from the target horizon lower in the sequence, several hundred metres to the north
This hypothesis implies a new high-priority zinc target which warrants immediate follow-up drilling
Separately, G11-450-03, drilled 4km to the east at the Carrickittle North prospect, intersected a thick package of Waulsortian Limestone with extensive brecciation and pyrite
Together, these two holes significantly add to growing evidence that a large area (at least 5km by 1km ) hosts intense brecciation and pyrite mineralization, located symmetrically opposite to similar pyritic breccia bodies associated with the Pallas Green zinc deposit on the north side of the LVC
A third hole, at Stonepark West , was also completed with moderate zinc mineralization intersected
Overall, the Stonepark drill program ( 2,300m , six holes ) is now 82%-complete with the first three deepest holes reported above; the remaining three holes are planned to begin after ongoing drilling at the Company's Ballywire prospect (PG West Project) is completed over the next two months.
GL.
Can anyone get any recent news to show up following the link in the RNS?
blue news on the way is there .must be due