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Group Eleven says it is one big step closer in its search for 'mirror-image' of Pallas Green zinc deposit

Published: 07:20 16 Jun 2022 EDT

Group Eleven Resources Ltd. - Group Eleven says it is one big step closer in its search for 'mirror-image' of Pallas Green zinc deposit
Group Eleven said it has intercepted a major fault structure with zinc mineralization at the Carrickittle West Prospect

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.

READ: Group Eleven Resources reports best assays to date from first hole at Tullacondra prospect in Ireland

"Originating at a property-scale, our search for the hypothesized 'mirror-image' of the Pallas Green deposit is now zeroing in on a very specific target, approximately 500 metres (m) by 2 km in area," the company’s CEO Bart Jaworski said in a statement.

"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," he added.

Group Eleven noted that, 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.

Other highlights of the drilling include:

  • 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% zinc and lead, 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% zinc and lead);
  • 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 4 km 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 5 km by 1 km) 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.

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. 

The Carrickittle prospect on the PG West property (100% interest) extends northward and westward onto the Stonepark property, at the Carrickittle North and Carrickittle West localities, as evidenced by the presence of alteration, prospective faulting and local zinc mineralization.

Group Eleven is a mineral exploration company focused on advanced-stage zinc exploration in the Republic of Ireland.

Contact the author at stephen.gunnion@proactiveinvestors.com

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