The next focusIR Investor Webinar takes places on 14th May with guest speakers from WS Blue Whale Growth Fund, Taseko Mines, Kavango Resources and CQS Natural Resources fund. Please register here.
What is good for TYM is good for SRES as it allows TYM to carry costs of the Home Office in proportion to the attention they are getting. We are playing a waiting game. Anyway, PC said they were pushing for mid-year, which means very little regarding timing.
Hopefully we can sell some other claims
Yahoo reports 52 million shares traded on 17th of April; total shares outstanding 462 million (approx). therefore more than 10 percent sold therefore the price is low enough for somebody to dilute us. And get shares cheap.
Or was the 52 million a spoof.
I agree this is good, the worm is turning for Junior Miners, 6 months and the shorts will buy back. We need time.
Thanks Justone I am glad somebody went, and can report back.
I think the Aim market is under attack, from naked shorting.
From Yahoo, note the odd volume on the 22nd
2/13/2024 0.045 0.04 0.04 0.045 0.045 1,000,000
2/14/2024 0.045 0.048 0.042 0.045 0.045 3,555,377
2/15/2024 0.045 0.04 0.04 0.045 0.045 3,000,000
2/16/2024 0.045 0.046 0.046 0.045 0.045 542,000
2/19/2024 0.045 0.046 0.04 0.045 0.045 2,551,070
2/20/2024 0.045 0.047 0.04 0.045 0.045 3,746,212
2/21/2024 0.045 0.045 0.045 0.045 0.045 1,111
2/22/2024 0 0 0 0.04 0.04 432,000,000
20g/ton gold should attract a partner to do further drilling. It is a better project now, and there will be a boost to the SP in time. I am staying long......................
Congrats to everybody, looks like good times are coming!!
With 100% owned Gold projects, we need somebody who could run/advance them if need. And who does not need to believe everything G11 tells them, but have their own frame work. Preferably in their 40's, as our board is aging,
What think ye??
G11 is cheaper, I agree with that
Group 11 popped up today, to 6cents, nearer to the 8cents paid by Glencore.
Good news???
A good omen for ARKLE's drilling in August, hopefully the theories panout.
A.
With a much smaller ground position, Group Eleven will be more nimble and be able to focus significantly more attention to each target with a view to conducting larger, more sustained drilling campaigns in the future. With regards to cost minimization, the Company began taking steps in mid-2019 to significantly lower overhead costs, including moderating staff levels to reflect a more focussed stage of exploration.
Next Steps – A Fully Funded Program Starting Soon
An exploration program, including approximately 1,000 metres of drilling, is anticipated to begin at the 100%-interest PG West project in May 2020, subject to COVID-19 restrictions. This drilling will include follow-up drilling in the Kilteely area. At the 76.56%-interest Stonepark project, exploration is anticipated to begin in August 2020 and include at least 800 metres of drilling. The above fieldwork is fully funded and does not require any further financing by the Company. In order to expand and accelerate exploration and drilling in the Limerick basin, however, Group Eleven continues to look for strategic partners. Discussions continue with interested parties.
In order to increase the Company disclosure on more in-depth technical information, Group Eleven has made available on its website, detailed compilation presentations on key target areas, as well as, pertinent mineral exploration information on Ireland.
Qualified Person
Technical information in this news release has been approved by David Furlong, P.Geo., Chief Operating Officer, and ‘Qualified Person’ as defined under Canadian National Instrument 43-101.
About Group Eleven Resources
Group Eleven Resources Corp. (TSX.V: ZNG; OTC: GRLVF and FRA: 3GE) is a mineral exploration company focused on advanced stage zinc exploration in Ireland. The Company’s key project in Ireland is a 76.56% interest in the Stonepark project (joint ventured with Arkle Resources plc) and a 100% interest in the adjacent PG West Project, located near Limerick, next to one of the world’s largest undeveloped zinc deposits: Pallas Green deposit.
Additional information about the Company is available at www.groupelevenresources.com.
ON BEHALF OF THE BOARD OF DIRECTORS
Bart Jaworski, P.Geo.
Chief Executive Officer
E: b.jaworski@groupelevenresources.com | T: +353-85-833-2463
E: s.heinrichs@groupelevenresources.com | T: +604-630-8839
Pallas Green Corridor – The Big Upside Case, More and More in Focus
The Pallas Green Corridor, identified by Group Eleven in 2018/2019 as a 20-kilometre-long mineralized corridor extending from Glencore’s Pallas Green zinc deposit6 towards the southeast, was tested by two holes drilled by the Company8. The Kilteely hole, located mid-way south along the corridor (on the Stonepark project), intersected 230 metres of an extensive hydrothermal system with considerable multi-textured iron sulphides (pyrite and suspected marcasite) and other geological features (brecciation, silica flooding and locally elevated zinc levels) indicative of proximity to a new major zinc system. The Ballywire hole, located on the southern end of the corridor, intersected 36.5 metres of intermittent, high-grade zinc mineralization (e.g. 0.75 metres of 10.6% Zn + 2.5% Pb and 39 g/t Ag) representing a 260-metre step-out from historic drilling and the best results to date at the Ballywire prospect.
The above two drill holes opened up two specific areas of very high prospectivity: (i) an area measuring approximately two kilometres by five kilometres trending northwest of Kilteely towards the Pallas Green deposit; and (ii) an area roughly 300 metres by 1,200 metres to the east and adjacent of the Company’s recent drilling at Ballywire.
In addition to the above, the Company verified that the existing Stonepark deposit itself is open to expansion. In mid-2018, an angled hole drilled by Group Eleven through the resource intersected a thick zone of high-grade mineralization (5.40 metres of 25.0% Zn + 7.2% Pb and 12.2 g/t silver9). Importantly, the hole did not encounter a fault previously thought to truncate the eastern side of the resource estimate, hence demonstrating the deposit remains open in this direction (towards the nearby Pallas Green deposit6). Follow-up drilling aimed at resource expansion is yet to be done in this area and many other areas of the Stonepark resource remain open.
The Company’s significant financial contribution towards the Geological Survey of Ireland’s Tellus airborne geophysical survey covering Group Eleven’s entire Silvermines and Stonepark (and PG West) projects led to a much clearer picture of the regional geology and structural corridors in the two camps. Major new lineaments and anomalies were identified in the Limerick basin, including a 40-kilometre-long WNE trend (suspected fault structure) and large new circular features (suspected buried intrusives) on the PG West and Stonepark properties, respectively10. These features are yet to be drill tested.
Strategy for 2020 and Beyond – More Nimble and Focussed
Group Eleven’s large ground position (approximately 3,000 square kilometres; the largest in Ireland) will be significantly reduced over the next few months now that first-pass, regional synthesis (‘Big Think’) is substantially complete and high-priority targets have been identified. The focus going forward will be on the Limerick basin (St
he Cooleen prospect at the Silvermines Project (“Silvermines”; 100% interest: Group Eleven) and the Castlemaine prospect at the Tralee Project (“Tralee”; 100% interest: Group Eleven). Platinum and palladium potential was also recently identified for the very first time at Ballinalack, showing the best such drill intercepts ever achieved in Ireland5.
Limerick Basin – Hallmarks of a Navan-Scale Zinc System
Boliden’s Navan zinc-lead mine (“Navan”), located in eastern Ireland (see Exhibit 1), represents one of the largest zinc deposits in the world, with over 130 million tonnes of current resources plus historically mined material1. The Limerick basin, located in central Ireland, is quickly becoming one of the most prospective – if not the most prospective - parts of Ireland in which to search for the next Navan-scale zinc discovery. In part, this reflects the mineral endowment of the Limerick basin which is already the largest in Ireland outside of Navan itself, despite the basin being a relatively new camp.
The Limerick basin hosts the Pallas Green6 and Stonepark2 deposits, as well as, a number of smaller prospects, all of which are not yet fully defined. Besides mineral endowment, key geological similarities between the Limerick basin and Navan area include: (i) age of mineralization; (ii) host rocks (limestones; albeit different stratigraphic units); (iii) style of mineralization (Irish-Type MVT); and (iv) regional setting (both occur in large trans-tensional basins along the Iapetus suture (see Exhibit 1).
Group Eleven’s Stonepark and PG West projects cover the majority of the prospective host rocks (Waulsortian limestone) within the Limerick basin. The prospectivity of the region, together with the Company’s recent drill results (described below), justify the Company’s recent decision to focus primarily on the Limerick basin going forward.
Resource Expansion – Low Hanging Fruit, Ripe for the Picking
The third-party consultants7 who prepared the Ballinalack and Stonepark MREs, stated that each deposit is open along and across strike, has significant exploration potential and warrants further drilling2,3. However, systematic step-out drilling around the current resource estimates has not yet been conducted. During the Company’s ‘Big Think’ phase of exploration, the emphasis was on testing high-level conceptual targets, with resource expansion drilling kept to a minimum. It is important for investors and shareholders to know, however, that these relatively easier, ‘lower hanging fruit’ targets will feature more prominently in the Company’s exploration plans going forward, now that the large-scale structural corridors have been identified.
Exhibit 1. Regional gravity data over Ireland showing Limerick Basin and Navan Zinc-Lead Mine
Group Eleven Provides Update on Corporate Strategy and Announces Upcoming Drill Program
PDF
Vancouver, Canada, April 21st, 2020 – Group Eleven Resources Corp. (TSX.V: ZNG; OTC: GRLVF; FRA: 3GE) (“Group Eleven” or the “Company”) is pleased to provide an update on its corporate strategy and a summary of the Company’s achievements since its initial public offering in late 2017. After several years of diligent work, the Company has now completed the groundwork necessary for a much more focussed exploration strategy going forward. Drilling is expected to commence in May 2020.
Highlights - Exploration
Regional synthesis (‘Big Think’) conducted over the last few years, is now substantially complete
Stonepark (76.56% interest) and PG West (100%) projects, in the Limerick basin, have emerged as the clear ‘flagship’ and value-driver assets for Group Eleven (all ground will be kept in good standing)
Smaller core prospects at the Ballinalack, Silvermines and Tralee projects will also be maintained
All remaining licenses (majority of the Company’s ground position) will be surrendered
Focussed drilling at the PG West and Stonepark projects is planned to begin in May and August 2020, respectively (subject to COVID-19 restrictions)
All fieldwork (including drilling) for the remainder of 2020 is fully-funded
Highlights - Corporate
Significant head count and overhead cost reductions were put in place a number of months ago
In order to expand and accelerate exploration, discussions continue with third parties in relation to potential strategic investments
“Our goal continues to be a world-class zinc discovery,” stated Bart Jaworski, CEO. “The Limerick basin has all the hallmarks of the next Navan1-scale zinc system in Ireland. We’ve narrowed our first immediate target area to a two-by-five-kilometre swath of prime ground in the Kilteely area, representing the geological mirror image of the Pallas Green system on the opposite side of the volcanic complex. By surrendering non-core licenses, we’ll be better able to focus on our 1,200-square kilometre ground position in the Limerick basin, with a view to conducting larger, more sustained drilling campaigns in the future.”
Key Accomplishments Since IPO
Group Eleven has accomplished a number of key milestones in Ireland since the Company’s initial public offering on the TSX-V in December 2017. These accomplishments include a maiden mineral resource estimate (MRE) at the Stonepark2 Project in Co. Limerick (“Stonepark”; 76.56% interest: Group Eleven; 23.44% interest: Arkle Resources plc) and an updated MRE at the Ballinalack3 Project in Co. Westmeath (“Ballinalack”; 60% interest: Group Eleven; 40% interest: Nonfemet). Equally important, key new exploration models have been developed and recently corroborated by drilling, including (i) the Pallas Green Corridor and (ii) the Ballinalack antiform crest4. The Company has also continued data compilation and analysis of two zones which were identified p
The bad news is the price paid. The good news is that they benefits in drilling, it should pay off at this price.
Yes was, gone from symbol CON to ARK.
A least it is a less ironic symbol
Nice to see a better price.
Thanks, Bird, for the update on Tungsten Pricing, hopefully, it will higher in spring. The share price will track higher then.
Some comments on Pricing
“With inventories in Europe drastically going down, the APT market remains supported at current levels. There is very little material available in Rotterdam and only few mines are operating. The support should continue,” - European trader
But in China, not so resilient
“Demand in the [Chinese] spot market is weak because the majority of customers abroad are covered by their long-term orders,” - China-based exporter 1
“We cut our offer to $220 per [metric tonne unit] for APT in response to the softness in the domestic tungsten concentrate and APT markets,” - China-based exporter 2
Good thing to be in Europe..............
This is from 5 days ago, looks goodish
https://www.metalbulletin.com/Article/3901250/GLOBAL-TUNGSTEN-WRAP-Concentrate-price-dips-APT-prices-supported-by-positive-sentiment.html
GLOBAL TUNGSTEN WRAP: Concentrate price dips; APT prices supported by positive sentiment
Positive sentiment continued to buoy the Chinese and European ammonium paratungstate (APT) markets although spot activity remained subdued in both.
But the ferro-tungsten price in Europe fell after suppliers scrambled to meet a large inquiry from a consumer. The Chinese APT export price was unchanged week on week against a backdrop of falling tungsten concentrate prices and quiet demand abroad. Fastmarkets assessed the export price of tungsten APT 88.5% WO3 min, fob main ports China at a steady $235-245 per mtu on Wednesday October 23. “If there are some inquiries from the international market, we will offer at $240 per mtu. But demand remains quiet. We believe foreign...
This move may make a nice chart pattern, I think a bottom is in, for a while
Does anybody know the reason? My guess is a better financing deal from a Spanish bank, or a good off-take agreement that improves cashflow
WRES has not moved, yet