Group Eleven Resources (ZNG.V) seems to continue to improve its understanding of the mineralization at the Ballywire zone (part of the PG West project) in Ireland. The company released the results of hole G11-3552-18, which is a 50 meter step out hole from hole 16 which intersected 24.7 meters of 3.7% ZnPb and 12g/t silver including a higher grade interval of 7.4 meters of 9.1% ZnPb and 29 g/t silver.
The step-out hole yielded even better results as hole 18 encountered 36.6 meters of 6.4% ZnPb and 26 g/t silver including 11.8 meters of 11.6% ZnPb and 48 g/t silver (which in turn included an even higher grade interval of 4 meters at almost 20% ZnPb). This means the high-grade zone at Ballywire has now been encountered in four holes with grades either exceeding 10% ZnPb or getting very close to that level (and exceeding it if you’d include the silver value).
AS CEO Jaworski commented, the Ballywire drilling had intersected continuous zinc-rich massive sulphide lenses at the base of the Waulsortian limestone, hitting these massive sulphides over a 360 meter strike length. Meanwhile, the mineralization appears to be widening and getting shallower towards the northeast. The company will continue to work on this zone to further delineate it, while Group Eleven would also like to follow up on the silver and copper potential below the zinc and lead rich horizons.
Disclosure: The author has a small long position in Group Eleven Resources. Please read the disclaimer.
