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Group Eleven Resources Corp.
Summary
| Project: | Stonepark | |
|---|---|---|
| Deposit: | Stonepark | |
| Location: | Ireland | |
| Commodities: | Zinc | |
| Date: | 6/6/2018 | |
| Report Code: | NI43-101 | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 6-6-2018: Group Eleven Resources Corp. announces a Resource Estimation report for its Stonepark deposit at the Stonepark project. Initial mineral resource estimate for Stonepark. In January 2018, SLR Consulting Ireland (“SLR”) was requested by the directo | |
| Resources: | (Resource, Inf.); 5.1Mt @ 8.7% Zn, 2.6% Pb for 982Klbs Zn 296Klbs Pb contained | |
| CP/QP: | [Resources]: Belinda van Lente (CSA Global (UK) Ltd.) | |
| ABSTRACT: | In January 2018, SLR Consulting Ireland (“SLR”) was requested by the directors of Group Eleven Resources Corporation (“GERC”), registered in British Columbia with offices at 2200-885 West Georgia Street, Vancouver, BC, Canada, to update an earlier independent National Instrument 43-101 technical report (the “2017 Report”) on the Stonepark zinclead project (the “Project”). This updated report (the “Independent Report” or “this report”) is to include a maiden mineral resource estimate for the Stonepark mineral deposit. This Report was prepared by Paul Gordon and Dr John Kelly of SLR (the “Authors”) who are “qualified persons” and independent of GERC and all its subsidiaries within the meaning of National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI43-101”). Section 14 (Resource Estimates) was prepared by Dr Belinda van Lente (Qualified Person for Mineral Resources) and Nerys Walters of CSA Global. CSA Global (UK) Ltd (“CSA Global”) was engaged by SLR Consulting Ireland (“SLR”, on behalf of Group Eleven Resources Corporation “GERC”) to generate a Maiden Mineral Resource Estimate (“MRE”) of the Stonepark ZincLead Project (“Stonepark”), based in County Limerick, Ireland, in February 2018. On July 17th, 2012, Teck Ireland Ltd. (“TIL”, a wholly owned subsidiary of Teck Resources Limited, “Teck”) entered into a Joint Venture Agreement with Limerick Zinc Limited (“LZL”) in respect of the Stonepark Project (Monaster Block), consisting of six (6) prospecting licences (“PL”s), in Co. Limerick, Ireland. LZL is a wholly-owned subsidiary of AIM-listed Connemara Mining plc (now called Connemara Mining Company of Ireland Ltd., “CON”). TIL had previously entered into an agreement with CON on October 11th, 2007 under which TIL was given the option to acquire a 75% indirect interest in the licences. Under the 2012 agreement and subject to approval by the EMD, the Monaster Block PLs were transferred to a joint venture company called TILZ Minerals Ltd. (“JVCo”) and TIL was given 75% of the shares in JVCo. Prior to the GERC transaction (described below), TIL held 4,604,512 shares in JVCo representing a 76.56% equity interest and LZL held 1,409,783 shares in JVCo representing a 23.44% equity interes | |
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