Group Eleven Resources Announces Completion of Tellus Airborne Geophysical Survey Over Stonepark, PG West and Silvermines, Ireland
TSX VENTURE: ZNG
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.
1 Pallas Green hosts 45.1 million tonnes of 7% Zn + 1% Pb in the Inferred Category (Glencore; Dec 31, 2018)
2 Stonepark hosts 5.1 million tonnes of 8.7% Zn + 2.6% Pb in the Inferred Category (Group Eleven; April 17, 2018)
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.