Group Eleven Resources Corp (CVE:ZNG) (OTCMKTS:GRLVF) outlined the findings of a key airborne survey covering its Stonepark, PG West and Silvermines zinc projects in Ireland, which should help it refine its exploration aims for 2020.
The 'Tellus' airborne geophysical survey managed by the Geological Survey of Ireland, covered a contiguous area of 4,649 sq km and was flown over most of last year and ended in March 2019. It represents the only geophysical survey covering the entire Stonepark and PG West zinc projects. The company contributed 25% of the cost.
The work identified some large surprises, said Group Eleven, including identifying unknown geological features which open up new areas of prospectivity and refine target placement.
In particular, the firm's key exploration area of Pallas Green Corridor and cross-fault north of Kilteely remains intact and is now better refined, the firm told investors.
Also, around 20 km to the west of – and sub-parallel to – the Pallas Green Corridor, data showed a previously-unknown, northwest linear trend at least 40 km long, which appears to represent a corridor of suspected buried volcanic centres or instrusives – adding significant prospectivity.
"To have such an extensive, uniform and high-quality data set over the entire 1,200 km2 Stonepark and PG West project is a big step forward for Group Eleven," said Bart Jaworski, the chief executive.
"We are excited to now use this information to fast-track and refine our plans for what should be an exciting exploration program in 2020 on this project."
The firm's Stonepark project is 76.56% owned by Group Eleven and 23.44% owned by Arkle Resources PLC and spans around 200 sq km in area; Group Eleven's contiguous and wholly-owned PG West project is around 1,000 sq km in area.
Group Eleven has a 60% interest in the Ballinalack project (joint ventured with Nonfemet - one of the largest zinc producers in China) and a 75.56% interest in the Stonepark project near Limerick, which is next to one of the world's largest undeveloped zinc deposits: Pallas Green.
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