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Group Eleven Resources Corp.
Summary
| Project: | Ballinalack | |
|---|---|---|
| Deposit: | Ballinalack | |
| Location: | Ireland | |
| Commodities: | Zinc | |
| Date: | 12/7/2017 | |
| Report Code: | NI43-101 | |
| Report Type: | Supporting Acquisition | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 7-12-2017: Group Eleven Resources Corp. announces a Supporting Acquisition report for its Ballinalack deposit at the Ballinalack project. Amended technical report on property correcting 4 figures. On June 29, 2017, GERC acquired from Teck Ireland Ltd. (“T | |
| Resources: | x | |
| CP/QP: | [Overall Report]: John George Kelly, Paul Gordon (SLR Consulting Ltd.) | |
| ABSTRACT: | On June 29, 2017, GERC acquired from Teck Ireland Ltd. (“TIL”) a 60% equity interest in Ballinalack Resources Limited (“BLK JV”), a joint venture company which wholly owns the Ballinalack Project. GERC is registered in British Columbia, Canada and its wholly-owned subsidiary, Dublin-based, Group Eleven Resources Limited (“GERL”) wholly owns Irish-registered Group Eleven Mining & Exploration Limited (“GEM”). GEM has separately built up a very large zinc exploration portfolio in Ireland, covering over 3,000 square kilometres (km2 ) of prospective ground along known mineralized trends within Ireland. Group Eleven (as GEM, GERL and GERC) was formed in early 2015 to identify superior exploration opportunities in the world-class Irish zinc district, at a time when there is a widely acknowledged, global lack of quality development zinc projects. It is noted that Irish-based founders of GERC have deep experience and knowledge of Irish-type zinc projects. TIL is a wholly owned subsidiary of Teck Resources Limited (“Teck Resources”), a large diversified mining company based in Vancouver, Canada. The BLK JV wholly owns eleven (11) contiguous prospecting licences (“PLs") covering the Project, located in Counties Westmeath and Longford, Ireland. The remaining 40% equity interest in the BLK JV is held by Zhongjin Lingnan Mining (hk) Company Limited (“Nonfemet”), a China-based company engaged in the mining and processing of lead, zinc and other non-ferrous metals. | |
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