Group Eleven Resources Corp (CVE:ZNG) (OTCMKTS:GRLVF) got a nice surprise from recent drilling at its Ballinalack zinc project in Ireland.
During its recent round of drilling, Vancouver-based Group Eleven said that it intersected a sulphide-bearing mafic dyke, or rock formation, that housed platinum-group metals and gold along with copper, nickel and cobalt extended over several kilometres.
One drill hole intersected 2 metres of 0.4 grams per ton of “4E,” or platinum, palladium, rhodium and gold, and 0.2% copper.
Known as a zinc project, previous operators at Ballinalack never assayed for platinum group metals (PGM). To Group Eleven management’s knowledge, PGM exploration in Ireland has never been conducted, the company said in a statement.
Despite the surprise, Group Eleven said that Ballinalack will remain a primarily zinc-focused project and the new results should be viewed as a “sweetener.”
"The above results were unexpected and a bit out of left field, given our exploration efforts were fully geared towards zinc," said Group Eleven CEO Bart Jaworski.
"Despite being a surprise, these anomalous PGM results certainly add to the Ballinalack story. We intend to do more work on PGMs in the future as we remain focused on exploring for zinc and expanding the existing Ballinalack zinc deposit."
Ballinalack is a joint venture between Group Eleven, which owns 60%, and Shenzhen Zhongjin Lingnan Nonfemet Company Limited (Nonfemet), which has a 40% interest.
The most recent round of drilling focused on the Navan Beds, which lie several hundred metres below the existing Ballinalack deposit, which has an inferred resource of 5.4 million tons at a grade of 7.6% zinc and 1.1% lead.
Further drill results from Ballinalack, including zinc-lead results, are expected over the next few weeks.
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