Group Eleven Eyes Second Major Zinc Discovery at Carrickittle West in Ireland
TL;DR
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.
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Group Eleven Resources Corp (TSX-V:ZNG) is optimistic about the potential for a second major zinc discovery at its Carrickittle West prospect in the Republic of Ireland. CEO Bart Jaworski revealed this development during a conversation with Proactive's Stephen Gunnion, emphasizing the promising initial drilling results.
According to Jaworski, the initial drilling at Carrickittle West has already shown substantial intervals of sulphide mineralization and evidence of a significant fault, which could be crucial for further mineralization. The company has outlined plans for a comprehensive 1,700-meter drill program, which they aim to complete by the end of the year.
This development follows Group Eleven's first significant zinc-lead discovery in Ireland at the Ballywire site. This discovery included 29 drilled holes demonstrating mineralization over a 2.6 km strike length within a 6 km prospective trend. Among these, the most notable result was an interval of 30 meters containing 11% zinc and 80 grams per tonne of silver.
Jaworski also highlighted the bullish outlook for zinc, driven by global supply constraints and reduced treatment charges, which indicate a tight concentrate market. This market condition could favorably impact the company's operations and potential future discoveries.
Group Eleven's progress is further bolstered by strong shareholder support, with Glencore being the largest shareholder and significant stakes also held by Michael Gentile. The company anticipates releasing further drill results from both Ballywire and Carrickittle West, suggesting that the second half of the year will be particularly eventful for Group Eleven Resources.
The potential discovery at Carrickittle West could have significant implications for the mining industry and the global zinc market. A new discovery would enhance Group Eleven's position in the industry and could potentially lead to increased investment and exploration activities in Ireland, a region known for its rich mineral resources.
Curated from News Direct
