Curated News
By: NewsRamp Editorial Staff
July 05, 2024
Group Eleven Hopeful for Second Major Zinc Discovery in Ireland
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- Group Eleven Resources aims for a second major zinc discovery at Carrickittle West, potentially gaining a significant advantage in the market.
- The company plans a 1,700m drill program at Carrickittle West, aiming to complete it by year-end, indicating a strategic and detailed approach to exploration.
- The potential zinc discovery at Carrickittle West could contribute to global supply, making the world more sustainable and the future brighter.
- Group Eleven Resources' significant zinc-lead discovery in Ballywire, with 29 drilled holes showing mineralization over a 2.6 km strike length, presents an interesting and educational opportunity.
Impact - Why it Matters
This news matters as it highlights the potential for a significant zinc discovery in Ireland, which could have a substantial impact on the global zinc market and the company's future. It also provides insights into the bullish outlook for zinc, driven by global supply constraints and reduced treatment charges, indicating a tight concentrate market.
Summary
Group Eleven Resources Corp (TSX-V:ZNG) CEO Bart Jaworski hopes for a second major zinc discovery at its Carrickittle West prospect in the Republic of Ireland. Initial drilling at Carrickittle West indicated substantial intervals of sulphide mineralization, with evidence of a major fault which may be crucial for mineralization. The company plans a 1,700m drill program, aiming to complete it by year-end. Additionally, the company highlighted its first significant zinc-lead discovery in Ireland, Ballywire, with 29 drilled holes showing mineralization over a 2.6 km strike length, within a 6 km prospective trend. The most notable result was 30m of 11% zinc and 80g/t silver. Glencore is the largest shareholder, with Michael Gentile also holding a significant stake. Jaworski elaborated on the bullish outlook for zinc, driven by global supply constraints and reduced treatment charges, indicating a tight concentrate market. Upcoming news includes drill results from Ballywire and Carrickittle West, suggesting a busy second half of the year for Group Eleven Resources.
Contact Details: Proactive North America, +1 604-688-8158, na-editorial@proactiveinvestors.com
View source version on newsdirect.com: https://newsdirect.com/news/group-eleven-hopeful-for-a-second-major-discovery-at-carrickittle-west-prospect-in-ireland-682460405
Source Statement
This curated news summary relied on this press release disributed by News Direct. Read the source press release here, Group Eleven Hopeful for Second Major Zinc Discovery in Ireland
