Share this article
VANCOUVER - Group Eleven Resources Corp. [ZNG-TSXV] has intersected a wide interval of significant copper and silver mineralization at its Denison copper-silver prospect within its 100%-owned PG West project, Ireland. The intercept confirms previously known mineralization and in part expands the outer boundary of its assayed lower-grade envelope.
G11-4474-01 intersected 116.7 metres of 0.38% copper and 21 g/t silver (0.54% copper equivalent), including 44.7 metres of 0.82% copper and 47 g/t silver (1.16% CuEq) (starting at 4.0 metres downhole; true width is estimated at 74%).
The hole succeeded in confirming historically known mineralization and also expanded by 30 to 50 m the outer boundary of the assayed lower-grade (0.16% CuEq) envelope now interpreted at this locality.
The area drilled is part of a historic estimate with a strike length of over 600 metres, hosting other historic intercepts such as 100.6 metres of 0.64% CuEq, 83.8 metres of 0.57% CuEq and 29.0 metres of 1.43% CuEq.
Besides copper-silver, Denison also hosts a nearby zinc target in the overlying Waulsortian limestone, including two historic intercepts of 1.8 metres of 17.6% zinc, 5.1% lead and 288 g/t silver and 5.8 metres of 11.2% zinc, 1.% lead and 77 g/t silver.
Regionally, Denison is 25 km along the Pallas Green corridor from Glencore's Pallas Green zinc deposit, six and 12 km from the company's Ballywire and Carrickittle zinc prospects, respectively.
Denison is underexplored and under-conceptualized, especially with respect to the company's recent experience elsewhere in the Limerick region; further exploration is warranted.
At the Oola prospect, recent drilling returned anomalous cobalt (up to 0.11% cobalt over 0.69 metres).
"We're delighted with this better-than-expected drill result at Denison, which clearly illustrates the prospectivity of the Pallas Green corridor and specifically Group Eleven's Denison, Tullacondra and Gortdrum copper-silver prospects in the Limerick region," stated Bart Jaworski, CEO. "While the Carrickittle and Ballywire zinc prospects remain our top priorities at the PG West project, we have now confirmed that strong copper-silver mineralization can be spatially associated with Limerick zinc systems, opening up significant new exploration opportunities for our shareholders."
The company views the above results as encouraging and follow-up in due course is warranted. At the Croom prospect, two holes were drilled (to depths of 103 m and 195 m) to define regional stratigraphy. The implications of the holes within the structural setting of the area were significant, pointing to a sizable fault structure in the area. More work is warranted to further refine this prospect.