Group 1116 Jun 2022 12:43
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.
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