Group Eleven Resources (ZNG.V) has now initiated a 1,500-2,000 meter drill program on its Stonepark project in Ireland (76.56% owned). The company seems to be keeping the expectations low as this initial drill program has mainly been designed to get a better understanding of the geological structures at Stonepark. All holes will be drilled outside of the currently known inferred resource estimate which contains 5.1 million tonnes at 11.3% ZnPb.
The drill results, in combination with the data from the Tellus airborne survey should allow Group Eleven to be more efficient in 2019 when it expects to embark on a resource expansion focused drill program. Don’t be alarmed if the current drill program doesn’t return economic grade mineralization as Group Eleven will be working on confirming its exploration theory at Stonepark. A recent structural interpretation of the mineralization indicates the volcanic complex may play a more important role than originally thought. The company thinks there’s a good chance the zinc-bearing rock has been ‘folded’ around the volcanic zone (the pink area on the map). A few deep holes to see what’s underneath the volcanics could help Group Eleven to further determine its plan of action for the more extensive drill program at Stonepark later on.
We have actually visited two of the company’s projects (Stonepark and Ballinalack), and will publish a site visit report with a more extensive explanation of the exploration theory shortly. Meanwhile, you could perhaps have a look at the company’s extensive Q&A report to explain its ‘The Big Think’ plan for Irish zinc exploration sector.
Go to Group Eleven’s website
The author has a long position in Group Eleven. Please read the disclaimer
