Group Eleven Resources releases encouraging drill results from Ballinalack zinc-lead project in Ireland

Group Eleven Resources Corp. (CVE:ZNG, OTC:GRLVF) released results on Tuesday from two initial drill holes from its Ballinalack zinc-lead project in Ireland.

Ballinalack is a joint venture between Group Eleven (60% interest) and Shenzhen Zhongjin Lingnan Nonfemet Company Limited (40% interest), one of the largest zinc producers in China.

The project is located 50km from Boliden’s Navan (Tara) zinc mine.

READ: Group Eleven Resources CEO calls drill-hole results at Ireland’s Stonepark project ‘spectacular’

“We are thrilled that our bold steps to quickly and efficiently increase our understanding of the Ballinalack system via our ‘Big Think’ strategy are vectoring us towards four priority Navan Beds targets near the historical estimate” said chief executive officer, Bart Jaworski.

“Importantly, our drilling suggests historic attempts to test hanging wall Navan Beds targets at Ballinalack were indeed drilled too far down dip – leaving these prospective areas virtually untested.”

“Additionally, our work is showing that cross-faults may have a much more significant role in controlling mineralization than has been previously recognized,” added Jaworski.

“This realization has shed an exciting new light on our emerging Navan Beds targets both proximally to the historical estimate and regionally on the property. Lastly, it is gratifying to see our drilling yield robust silver grades, given a large portion of historically assayed intervals were run only for zinc and lead.”

Drilling shows new discoveries

One of the holes drilled happens to be the first-ever definitive test of the Ballinalack fault directly below the historical estimate on the project.

It successfully encountered the structure, advancing the understanding of local geometry.

Another hole drilled near the south end of the historical estimate intersected several zones of significant zinc, lead and silver mineralization, which included 10.3m of 8.9% zinc and 1.7% lead and 52 g/t silver — drilled within a shallow portion of the historic estimate.

The second zone of 3.6m of 5.5% zinc and 0.6% lead was drilled within another portion of the historical estimate. 

New intercepts

A number of new intercepts were also released, including a new lead-silver intercept in the Navan-bed, which included numerous lead-silver-barite veins over a length of 29m, including 3.1m of 5.6% lead and 12 g/t silver.

Additionally, new intercepts of thinner zinc mineralization in the base of Navan-beds was also reported: 1.1m at 4.6% zinc and 0.8% lead, and 12.3 g/t silver. 

Shares of Group Eleven were at C$0.15 on Tuesday. 

Story by ProactiveInvestors