VANCOUVER, May 21, 2019 /CNW/ - Group Eleven Resources Corp.
(TSX.V: ZNG; OTCQB: GRLVF; FRA: 3GE) ("Group Eleven" or
"Company") is pleased to announce that, further to the
Company's news release dated September 27,
2018, the Geological Survey of Ireland's ("GSI") airborne geophysical
('Tellus') survey over the Company's Stonepark, PG West and
Silvermines projects in the Republic of
Ireland is now complete. Data is currently being processed
by the GSI and is expected to be publicly released sometime in the
third quarter of 2019.
"We are excited to overlay the upcoming Tellus geophysical
data on our recently-released preliminary drill results at
Stonepark PG West," stated Bart
Jaworski, CEO of Group Eleven. "Combining these data sets
will help us further refine our high-priority drill targets and
potentially lead to new and exciting ideas ahead of our 'Big Drill'
campaign later this year. Identifying mineralized corridors
connecting known mineralization in the camp, including Pallas
Green1, Stonepark2, Carrickittle-Kilteely,
Ballywire, Oola and Gortdrum – will take us a big step closer
towards our vision of discovering Ireland's next Tier 1 zinc deposit."
Details on Tellus survey: The Tellus survey covered 2,100
square kilometres of Magnetics, EM and Radiometrics data over Group
Eleven's exploration ground in the highly prospective Limerick and Silvermines geological basins.
The survey is expected to advance high-priority, drill targets in
the region.
How does Tellus help exploration? The Tellus survey
is designed to 'sense' hidden geological features not apparent
through surface mapping or shallow geophysical techniques. It
attempts to 'see through' Ireland's often deep glacial deposits and
extensive peat and soil cover. The results are expected to
provide clues to the location of hidden zinc deposits.
What is Tellus? The Tellus survey, is a nationwide
geochemical and geophysical data programme undertaken by the GSI
and funded by the Department of Communications, Climate Action and
Environment ("DCCAE"). Its aim is to benefit the mineral,
agricultural and environmental sectors in Ireland. For further information about the
survey, see DCCAE's announcement dated August 9th 2018.
Why explore for zinc in Ireland? Zinc is the fourth most
consumed metal in the world after iron, aluminium and copper.
Presently, global inventories of zinc total less than six days of
global consumption – over a decade low. Ireland is one of the largest zinc producers
in Europe and host to some of the
world's largest zinc deposits. Modern exploration in the Irish Zinc
District spans the last 70 years. Group Eleven believes new major
deposits remain to be discovered via comprehensive re-evaluation of
the region's geology coupled with new exploration techniques such
as airborne geophysical surveys, ground-based seismic surveys,
artificial intelligence and other emerging technologies.
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1 Pallas Green hosts 45.1 million
tonnes of 7% Zn + 1% Pb in the Inferred Category (Glencore; Dec 31,
2018)
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2 Stonepark hosts 5.1 million tonnes
of 8.7% Zn + 2.6% Pb in the Inferred Category (Group Eleven; April
17, 2018)
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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; FRA: 3GE and OTC:
GRLVF) is a mineral exploration company focused on advanced stage
zinc exploration in Ireland. The
Company's large land package allows Group Eleven to leverage new
geological approach and geophysical technology to systematically
rethink key aspects of the Irish zinc district. The Company's two
key projects in Ireland include: a
60% interest in the Ballinalack project (joint ventured with
Nonfemet - one of the largest zinc producers in China), located in north-east Ireland, hosting potential Navan Bed
mineralization in the Pale Beds; and a 75.56% interest in the
Stonepark project (joint ventured with Arkle Resources plc),
located near Limerick, next to one
of the world's largest undeveloped zinc deposits: Glencore's Pallas
Green deposit. The Company's team includes accomplished mining
professionals with direct experience in finding mines, building
companies and exploring Irish zinc deposits.
Additional information about the Company is available at
www.groupelevenresources.com.
ON BEHALF OF THE BOARD OF DIRECTORS
Bart Jaworski, P.Geo.
Chief Executive Officer
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.
