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Group Eleven Intersects Up To 8.7% Zinc and 3.3% Lead (12.0% combined) in Step-Out Drilling at Stonepark, Ireland26.01.2021 | 14:20 Uhr | CNW
VANCOUVER, Jan. 26, 2021 - Group Eleven Resources Corp. (TSXV: ZNG) (OTC: GRLVF) (FRA: 3GE) ("Group Eleven" or the "Company") is pleased to provide an update on its step-out drilling program at the Stonepark zinc project in the Republic of Ireland (76.56% Group Eleven and 23.44% Arkle Resources PLC). Two holes were drilled outside the Stonepark mineral resource estimate ("MRE"), which totals 5.1 million tonnes grading 8.7% zinc and 2.6% lead (11.3% combined)1. The MRE is located a few kilometres to the west of Glencore's Pallas Green zinc deposit2. Highlights:
"We are delighted that, despite a modest budget and limited metres drilled, the step-out drill program at Stonepark has intersected robust mineralization beyond the boundary of the current mineral resource estimate," stated Bart Jaworski, CEO. "The two holes drilled at Stonepark provide us with clear resource expansion potential at Stonepark North and strong vectors for follow-up work at Stonepark West. Further expansion drilling is strongly warranted."
Details of Expansion Drilling Two step-out diamond drill holes were completed at the Stonepark mineral resource estimate ("MRE") which totals 5.1 million tonnes grading 8.7% zinc and 2.6% lead (11.3% combined)1. The MRE is located a few kilometres to the west of Glencore's Pallas Green zinc deposit2 (see Exhibit 1). The Stonepark Project is a joint venture between Group Eleven (76.56% interest) and Arkle Resources PLC (23.44% interest).
The two holes were drilled totalling 864 metres. Hole G11-2638-04 (-85° dip, 053° azimuth; 381-metre hole depth) was drilled within a 135-metre gap between the northern-most and central wireframes of the Stonepark North portion of the MRE (see Exhibit 2 and 3). Specifically, the hole was 107 metres and 50 metres from the nearest holes to the north and south, respectively. Hole G11-2638-05 (-80° dip, 360° azimuth, 483-metre hole depth) was drilled 85 metres south of the southern boundary of the Stonepark West portion of the MRE, and specifically, 194 metres from the nearest drillhole within the Stonepark West MRE (see Exhibit 2). Hole G11-2638-04 intersected a thick package of brecciation and low-grade mineralization yielding 17.95 metres of 1.02% zinc and 0.23% lead (1.25% combined) from 213.05 metres, including two higher-grade zones:
The mineralized intercept in G11-2638-04 is very similar to the nearest historic hole TC-2638-038 (located 50 metres away) which also intersected a wide zone of low-grade mineralization with two narrower high-grade layers: 18.20 metres of 2.35% zinc and 0.28% lead (2.63% combined) from 236.40 metres, including 3.60 metres of 3.89% zinc and 0.11% lead (4.01% combined from 238.10 metres) and 1.80 metres of 5.56% zinc and 0.91% lead (6.56% combined) from 251.35 metres, (see Exhibit 3). For reference, the wireframes defining the MRE (as estimated in the Technical Report on Stonepark dated April 26, 2018; see Exhibit 3) were constructed using a minimum true thickness of 2.0 metres, at 2.0% zinc and lead natural cut-off (with average grades calculated using mineralized blocks at a cut-off of 4.8% zinc equivalent grade). Mineralized wireframes were extended to a maximum of 100 metres beyond any drill hole. Based on the above, management believes that the mineralization in G11-2638-04 and the resulting tightened hole spacing are likely to be sufficient to extend the wireframe of the MRE when a full MRE update study is completed at some point in the future. The second hole drilled at Stonepark was G11-2638-05, located near the Stonepark West portion of the MRE. This hole intersected moderate mineralization (2.0 metres of 1.21% zinc and trace lead or 1.21% combined from 451.00 metres; and a number of lower grade intercepts elsewhere in the hole). The above intercept confirms the presence of the mineralized system at this locality and suggests the focus of further exploration for higher-grade and wider mineralization should be further to the east, along trend towards historic hole TC-2638-068 (0.95 metres of 9.01% zinc and 1.69% lead, or 10.70% combined from 423.80 metres) located 585 metres to the southeast (see red dotted line in Exhibit 2). Further drilling is strongly warranted. Quality Assurance / Quality Control (QA/QC) Drill-core samples were prepared and assayed in the ALS Minerals Laboratory in Loughrea, Ireland. Samples were fine-crushed (CRU-31) to 70% < 2mm and pulverized and riffle-split to 85% < 75 µm. Zinc, lead and silver assays were obtained by multi-acid (4-acid) digestion/ICP-MS Package (48 Elements), with ore-grade samples analysed using multi-acid ICP-AES. Analytical accuracy and precision are monitored by the submission of 3 standards and t3 blanks inserted into the sample train of 89 samples by Group Eleven personnel. ALS analysed 10 blanks, 16 duplicates and 29 standards as part of their internal QC procedures. Qualified Person Technical information in this news release has been approved by David Furlong, P.Geo., Chief Operating Officer, and 'Qualified Person' as defined under Canadian National Instrument 43-101. About Group Eleven Resources Group Eleven Resources Corp. (TSX.V: ZNG; OTC: GRLVF and FRA: 3GE) is a mineral exploration company focused on advanced stage zinc exploration in Ireland. Additional information about the Company is available at www.groupelevenresources.com. Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. ON BEHALF OF THE BOARD OF DIRECTORS Cautionary Note Regarding Forward-Looking Information This press release contains forward-looking statements within the meaning of applicable securities legislation. Such statements include, without limitation, statements regarding the future results of operations, performance and achievements of the Company, including the timing, content, cost and results of proposed work programs, the discovery and delineation of mineral deposits/resources/ reserves and geological interpretations. Although the Company believes that such statements are reasonable, it can give no assurance that such expectations will prove to be correct. Forward-looking statements are typically identified by words such as: believe, expect, anticipate, intend, estimate, postulate and similar expressions, or are those, which, by their nature, refer to future events. The Company cautions investors that any forward-looking statements by the Company are not guarantees of future results or performance, and that actual results may differ materially from those in forward looking statements as a result of various factors, including, but not limited to, variations in the nature, quality and quantity of any mineral deposits that may be located. All of the Company's public disclosure filings may be accessed via www.sedar.com and readers are urged to review these materials, including the technical reports filed with respect to the Company's mineral properties. SOURCE Group Eleven Resources Corp. Contact E: b.jaworski@groupelevenresources.com | T: +353-85-833-2463, E: s.heinrichs@groupelevenresources.com | T: +604-630-8839 Dieser Artikel stammt von Rohstoff-Welt.de
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