공시 • Apr 06
Group Eleven Resources Corp. Reports Results from First-Pass Reconnaissance Drilling at the 1Km NW Extension at the Carrickittle Prospect Within its 100%-Owned PG West Project Ireland
Group Eleven Resources Corp. reported results from first-pass reconnaissance drilling at the 1km NW extension at the Carrickittle prospect within its 100%-owned PG West project Ireland. Group Eleven also announces that it plans two rigs and over 6,000m of drilling in 2022, its largest annual drill budget to date. This includes Stonepark JV1, Ballywire, Tullacondra, follow-up drilling at Carrickittle and other key prospects at PG West. The Carrickittle prospect is located within the PG West Project (100%-interest), located in SW Ireland, approximately 10kms along the Pallas Green Corridor from Glencore's Pallas Green zinc deposit3. The Tullacondra Cu-Ag prospect is located approx. 20km south of PG West. Carrickittle represents one of the key vectors informing the Company's on-going drilling at the south-side of the Limerick Volcanic Complex. As previously reported, drilling at the NW Extension at the Carrickittle prospect was completed mid-December 2021, comprising four shallow holes, totaling 727 metres. This represents the Company's first drill campaign at the NW Extension. Assay results from the laboratory were delayed due to Covid-19 related issues. This was the Company's first drill campaign at the NW Extension. G11-2840-26 extended mineralization at Zone 1 by 30m (to 130m) along strike, intersecting 9.33m of 0.48% Zn+Pb and 8.1 g/t Ag (true width estimated to be 81%), including: (a) a narrow high-grade zone (0.10m of 20.0% Zn+Pb and 6.6 g/t Ag) and (b) a Cu-Ag zone (2.77m of 0.10% Cu, 20.4 g/t Ag and 0.40% Zn+Pb, including 0.91m of 0.17% Cu, 37.6 g/t Ag and 0.41% Zn+Pb). Although weaker than the massive sulphides recently intercepted at Zone 1 (e.g., 7.2m of 30.5% Zn+Pb and 108 g/t Ag2), the above intercept is approximately ten times wider (at similar grades) versus the next nearest pierce point along the modelled lens. The above intercept also occurs on-trend as predicted, adding further confidence to Group Eleven's exploration model. Follow-up drilling is being finalized to test the possibility of mineralization widening further towards the NW in an un-drilled area measuring approximately 750m by 950m, immediately north of Zone 1. Two holes (G11-2840-27 and -28) were drilled in the NW portion of the Carrickittle prospect, approximately 750m NW of Zone 1. This locality was drilled historically (in 2000) yielding a 12.1m zone of intermittent sphalerite and galena bearing veins, including a zone of clay and massive sulphide which averaged 0.77m of 7.79% Zn+Pb and 15.4 g/t Ag, including 0.07m of 61.3% Zn+Pb and 107.0 g/t Ag, located in the upper wall of a 2.4m cavity (historic hole 2840/9). Historic hole 2840/10, drilled approx. 100m to the NW, intersected a 2.95m zone with intermittent sphalerite and galena veinlets (not assayed). Importantly, both historic holes had large (7.8m and 1.7m, respectively) cavities at the base of the Waulsortian limestone and hence, the target horizon remained untested. The aim of Group Eleven's drilling in this locality was to drill in the vicinity of the above historic holes and test the base of the Waulsortian limestone (target horizon), while also assessing the nature of the prominent NW-trending magnetic-high anomaly in this area. G11-2840-27, drilled in between the two historic holes, returned 1.15m of 0.61% Zn+Pb in dolomitized Waulsortian limestone approximately 10-15m above the target horizon. A number of cavities were encountered in the hole and specifically, a large (5-10m) cavity was encountered at the base of the Waulsortian limestone (target horizon), similar to historic drilling. Sampling of residual clays recovered from this cavity returned very anomalous Zn+Pb levels (1.10m of 1926 ppm, including 0.60m of 2,035 ppm) suggesting mineralization was likely present before being weathered out in-situ. G11-2840-28, drilled 50m SE of historic drilling, encountered an even higher number of cavities (with recoveries averaging only 45%), resulting in the loss of the hole at 113.5m (vs. anticipated target horizon at 200m). Samples collected across the recovered karst clays returned anomalous Zn+Pb levels (300-495 ppm). It is unclear if higher Zn+Pb levels (similar to G11-2840-27) would be observed in cavities closer to the target horizon (i.e., if the hole was completed). Despite not being completed, G11-2840-28 definitively shows the large mag-high feature on the west of this target area reflects karstic Waulsortian limestone. It is unclear if karst is spatially related to mineralization in this area. Despite not being able to directly test the target horizon, the above two holes are encouraging given they corroborate the presence of massive sulphide mineralization intersected in nearby historic drilling and suggest more high-grade mineralization may be in close proximity. Further work would be needed outside of the magnetic-high anomaly in order to test for better-preserved zinc mineralization. The fourth hole (G11-2840-29) was drilled by Group Eleven testing a circular magnetic-high feature. The hole confirmed the presence of a volcanic vent and intersected a highly-brecciated and locally pyrite-rich package of Waulsortian limestone, including black-matrix breccia. The BMB intersected is similar to BMBs observed at the Company's Stonepark zinc deposit4, located 10km to the NW. The base of the Waulsortian limestone was faulted with approximately 20m of underlying lithologies removed, suggesting the hole was only a partial test of the target horizon. Overall, this hole implies that the circular magnetic-high features located at the north side of the Carrickittle prospect, likely represent volcanic vents. Given they seem to generally occur along a broad EW trending belt across the prospect, suggests a structural zone parallel to the southern edge of the Limerick Volcanic Complex. This structural zone is likely to be prospective for zinc mineralization, especially towards the north.