Group Eleven Resources Corp. (TSXV: ZNG) has made a positive breakthrough in its zinc exploration drilling at the Stonepark project in Ireland.
Highlights:
- Group Eleven has returned its first ever drill intercept of a major fault structure in the Limerick region (PG West and Stonepark projects); the structure is on the south side of the Limerick Volcanic Complex (LVC), approximately 5-6km south of Glencore’s Pallas Green zinc deposit, cutting through the Waulsortian Limestone (a key unit for zinc in Ireland) and hosting zinc mineralisation
- Generally, faults that intersect the target horizon (base of the Waulsortian Limestone) represent key zinc targets in Ireland; the most prospective targets are those with the largest fault displacements
- G11-2531-01, a 400m step-out hole drilled at the Carrickittle West prospect, intersected the fault structure at a hole-depth of 544m, showing a large vertical displacement of at least 150m and hosting a 13.9m interval containing local arsenopyrite and sphalerite (including 3.44m of 0.137% Zn+Pb, starting at 539m) in the immediate hanging wall; a second mineralised zone was also intersected in the footwall (at 591m) within an intrusive dyke (0.19m of 0.558% Zn+Pb)
- The above zinc mineralization is interpreted to have been transported (secondary), most likely along the fault from the target horizon lower in the sequence, several hundred metres to the north
- This hypothesis implies a new high-priority zinc target which warrants immediate follow-up drilling
- Separately, G11-450-03, drilled 4km to the east at the Carrickittle North prospect, intersected a thick package of Waulsortian Limestone with extensive brecciation and pyrite
- Together, these two holes significantly add to growing evidence that a large area (at least 5km by 1km) hosts intense brecciation and pyrite mineralisation, located symmetrically opposite to similar pyritic breccia bodies associated with the Pallas Green zinc deposit on the north side of the LVC
- A third hole, at Stonepark West, was also completed with moderate zinc mineralisation intersected
- Overall, the Stonepark drill program (2,300m, six holes) is now 82%-complete with the first three deepest holes reported above; the remaining three holes are planned to begin after ongoing drilling at the Company’s Ballywire prospect (PG West Project) is completed over the next two months
“Originating at a property-scale, our search for the hypothesised ‘mirror-image’ of the Pallas Green deposit is now zeroing in on a very specific target, approximately 500m by 2km in area,” CEO, Bart Jaworski, said.
“More generally, the southern half of the LVC is starting to emerge as the side hosting major faulting and collapse features – a geological environment conducive to forming major zinc deposits. The above Carrickittle North and West holes represent the first substantial tests of the southern margin of the LVC, and results thus far strongly corroborate management’s view that this area has the potential to host zinc mineralisation similar in style and scale to Glencore’s nearby Pallas Green deposit. Follow-up drilling is strongly warranted.”
Stonepark Project
The Stonepark zinc project is owned 76.56% by Group Eleven (operator) and 23.44% by Arkle Resource PLC. The property hosts a mineral resource estimate (MRE) totalling 5.1 million tonnes of 8.7% zinc and 2.6% lead (11.3% combined; located 1-2 kilometres west of Glencore’s Pallas Green zinc deposit.
The Carrickittle prospect on the PG West property (100%-interest) extends northward and westward onto the Stonepark property (at the ‘Carrickittle North’ and ‘Carrickittle West’ localities), as evidenced by the presence of alteration, prospective faulting and local zinc mineralisation.
For further information please visit: http://www.groupelevenresources.com/
