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Group Eleven Resources Corp.
Summary
| Project: | Ballinalack | |
|---|---|---|
| Deposit: | Ballinalack | |
| Location: | Ireland | |
| Commodities: | Zinc-Lead | |
| Date: | 11/28/2018 | |
| Report Code: | NI43-101 | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 28-11-2018: Group Eleven Resources Corp. announces a Resource Estimation report for its Ballinalack deposit at the Ballinalack project. Initial mineral resource at the project. Vancouver, Canada, November 28, 2018 – Group Eleven Resources Corp. (TSX.V: ZN | |
| Resources: | (Resource, Inf.): 5.4Mt @ 7.6% Zn, 1.1% Pb | |
| CP/QP: | [Resources]: Belinda van Lente (CSA Global Pty Ltd.) | |
| ABSTRACT: | Vancouver, Canada, November 28, 2018 – Group Eleven Resources Corp. (TSX.V: ZNG; OTCQB: GRLVF; FRA: 3GE) (“Group Eleven” or the “Company”) is pleased to announce an updated Mineral Resource Estimate (“MRE”) for the Company’s Ballinalack zinc project in Ireland. The estimate was prepared by CSA Global (UK) Ltd. (“CSA Global”) under contract to SLR Environmental Consulting (Ireland) Ltd. (“SLR”) and was based on recent drilling by Group Eleven, as well as, historic drilling from the 1970s onwards. Ballinalack is a joint venture between Group Eleven (60%-interest) and Shenzhen Zhongjin Lingnan Nonfemet Company Limited (“Nonfemet”, 40%-interest), one of the largest zinc producers in China. The Project is located 50 kilometres from Boliden’s substantial Navan (Tara) zinc mine. “We are very pleased with this first NI43-101 Mineral Resource estimate on the project as it demonstrates concrete progress at Ballinalack. Specifically, we are delighted that the average grade of the MRE is significantly higher than the historic estimate from 1991 and that the metal content, despite a higher cut-off, remains above a billion pounds of zinc and lead” stated Bart Jaworski, CEO. “Furthermore, the deposit is open along and across strike, corroborating our recent drilling which helped identify four targets in the lower Navan Beds, three of which already contain strongly mineralized historic intercepts.” “Strategically, it is important to remember that Ballinalack is located only 50 kilometres from Boliden’s giant Navan zinc mine – the largest zinc mine in Europe. With the Ballinalack MRE completed, we now have a springboard from which to focus on significant discovery both near the deposit and regionally as part of our ongoing ‘Big Think’ initiative.” | |
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