Group Eleven Resources Corp (CVE:ZNG), the zinc-focused group, unveiled encouraging new drill results from Ireland where it has found significant new mineralization along the Pallas Green corridor.
Tuesday's results hail from a preliminary 2,700 metre (m) drill program at the Stonepark zinc-lead project, where it has a 76.56% stake, and the adjacent 1-00% owned PG West project.
The two sites together are known as the Stonepark PG West project, in the Limerick region of the Republic of Ireland.
Ballywire lies 20 km southeast of Glencore's (LON:GLEN) Pallas Green deposit, along the Pallas Green Corridor and intercepted was 36.5 metres (true widths 60% to 70%) of intermittent, high-grade zinc mineralization.
"We are very pleased with our recent drill program" stated Bart Jaworski, CEO.
"At Ballywire, we are excited to have transformed this early-stage prospect to a high-priority target. Drilling has returned the best results to date in the area and we look forward to advancing even closer to the potential feeder structure during the next phase of work. Ballywire effectively doubles the strike of the Pallas Green corridor to 20 kilometres."
New potential zinc system
The company has also found a new periphery Zone at Kilteely, thought to be the outer margin of potential new Irish-Type zinc system.
Jaworski continued: "At Kilteely, the breadth of the new hydrothermal system is significant, being on-trend and in a similar geological environment as Glencore's Pallas Green zinc-lead deposit. This is our first hole into the southern half of the 'Limerick Volcanic Complex' and the area remains virtually unexplored. Exploration upside is wide open."
The firm sank five diamond holes, totalling around 2,700 metres (m) on the Stonepark and adjoining PG West properties from November 2018 to April 2019.
The main aim of the work was to advance the group's ongoing 'Big Think' exploration strategy by providing important 3D geological information ahead of the 'Big Drill' exploration program later this year.
Shares were unchanged in Toronto at $0.07.
Contact Giles at [email protected]