Group Eleven Resources (TSXV:ZNG) - Ballywire Strike Extends 17%

Bart Jaworski (0:00)

Hi, everybody, this is Bart Jaworski, CEO and co-founder of Group Eleven Resources. And hello, Matt. Thanks for having this call with me. Today, we're announcing a 17% increase to the strike of Ballywire, the hybrid part of Ballywire.

1600 meters pre-existing, we've now added 270 meters to that. So it's a very nice increase. And the hit that was that 270 meter step up is solid. It's a six and a half meter nearly intercept of 8% ZNG lead and about a half a nats of silver.

420 meters away from that, going the other direction, we also had some really nice news. Seven and a half meter hit of 10% ZNG lead and over an ounce of silver. So Matt, there's a very significant progress on Ballywire with today's results.

Matt (0:51)

Fantastic. And Bart, thanks for making time for us. I'm actually gonna see you next week, I think. You're coming over for the Michael Jindali European Roadshow, aren't you?

Bart Jaworski (0:59)

I am indeed, yeah. Very much looking forward to that. And then doing the Nordic right before that.

Matt (1:02)

You are, right. Okay, so lots of investors are gonna be able to get an update themselves on where you're at. 150 investors in London and I imagine the same up in the Nordics there. Look, last time I talked about Germanium, this time we're gonna talk about obviously the kind of zinc, silver, copper component of what's going on. So today's press release, what do I need to know?

Bart Jaworski (1:25)

Well, let me run you through the slides. Just remind your viewers, Matt, where we are in Ireland, in that yellow box. And if I zoom in on that, Glencore there in blue, us there in the deep green, the Ballywire discovery in the yellow circles, which is 20 kilometers away from that, Glencore Palace Green deposit and our very own Stone Park deposit. So again, just to set the scene very quickly, let's jump into the Ballywire itself. This is a planet-view drill hole map showing out basically where we were right before today's news release. And these blue lines depict the new zones of mineralization, the new holes that we put out. Five in total, as you can see here, those five yellow labels. Before I get into the specifics, I just want to hone in and just show you what I'm most excited about here as of today's news release. And those red flashing circles are the extensions to the strike. So let's just, and this is important, of course, because we were talking about this blue southwest potential extension, potential parallel zone of mineralization stemming off to the southwest. Well, today we've added two significant pierce points to that thesis. And one is actually gone into an area where we've never, never gone before.

And I'll show you that right now. So let's go to that one first. So 8A prime is the cross section there. That's again a 270-meter step out from 1.6 existing. So that's a 17-meter bump to the strike. And if I look at that in cross section view from the side, we drilled, we had no drilling here before. This is our first hole in this section on this drill fence. We got some wall source in line, so which is a target horizon that we're going for. And we drilled beneath it as well for the, hoping to find some copper-silver mineralization. And yes, indeed, we hit a 24-meter zone of mineral, running not too bad. Within it is almost 6.5 meters of 7.9% zinc and lead and 14 grams per ton silver. Within that is nearly 3 meters of 10, well, 11% zinc and lead and about 18 grams per ton silver. And within that is another meter of 22% and nearly an ounce. So very, very good. We continue drilling that. And then we got another zone here of copper-silver mineralization. Well, I think we now have extended not only the zinc, but we've also extended the copper-silver underneath.

We're getting an ounce, up to a percent of copper, about an ounce of silver over various different intervals here and another zone of copper-silver mineralization down here. So it's the first kind of step out in this direction. It's very good. We're seeing healthy, very healthy zinc lead silver numbers, and we're seeing some copper-silver numbers underneath it. We will be following that up with three more holes that are currently in progress. So stay tuned for that section. And then going from that area to 270 meters over. Now skipping over to the other side, as I mentioned, 420 meters over.

This is another 150 meters over from the fence that was pre-existing here. So that gives you about 420 meter distance, I guess, from the first circle to the second circle. And I'm just going to jump in and show you what that looked like. Again, this area we've never drilled before. So, again, it was an empty cross section. We drilled this hole 26 We got the wall sorption in there. Unfortunately, our rods got stuck at 421 meters and we had to abandon the hole. We just entered some bad ground there.