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Group Eleven Resources adds two highly prospective copper-silver projects near Stonepark and PG West

The Vancouver-based company has obtained prospecting licenses for the Denison and Tullacondra projects, both of which host historic mineral estimates

Group Eleven Resources Ltd. -
The two copper-silver projects could represent the origin of zinc systems in the country

Group Eleven Resources Corp (CVE:ZNG) (OTCMKTS:GRLVF) has strengthened its project pipeline with the addition of two advanced copper-silver prospects at its flagship Stonepark and PG West property in Ireland.

The Vancouver-based company obtained prospecting licenses for the Denison and Tullacondra projects, both of which host historic mineral estimates that provide potential for new discovery.

The additions complement the company's existing Gortdrum and Oola copper-silver prospects at the PG West Project, which is located in the Limerick basin.

READ: Group Eleven Resources set for drilling at its PG West and Stonepark projects within months

Although Group Eleven is primarily known as a zinc explorer, CEO Bart Jaworski told shareholders that the two copper-silver projects could represent the origin of zinc systems in the country.

"Group Eleven remains steadfastly focused on exploring for zinc, however, copper-silver systems are believed to represent the roots of the zinc-lead systems in the Limerick region," Jaworski said in a statement.

"Exploring these complementary systems in tandem should pay dividends.”

Historic estimates

Tullacondra boasts a historic estimate of 3.6 million tons grading 0.7% copper and 28 gram per to (g/t) silver, including a stratiform silver-rich zone of 0.6 million tons grading 150 g/t silver and 0.7% copper. Denison’s historic estimate highlights 5.4 million tons of 0.9% copper and 41 g/t silver, including 2.8 million tons of 1.2% copper and 47 g/t silver.

Mineralization at the properties is shallow and both areas host significant exploration potential, according to a statement. In addition, cobalt potential was recently identified at Tullacondra by the project’s previous operator.

The CEO told investors the company had been eyeing the Tullacondra prospect for a while and was “delighted” to add Denison to its portfolio.

“Together with our Gortdrum project, these prospects represent all three of the known and sizeable copper-silver systems of their kind in Ireland,” he added.

Group Eleven’s flagship asset is a 76.6% interest in the Stonepark project and a 100% interest in the adjacent PG West project, located next to one of the world's largest undeveloped zinc deposits, Pallas Green.

Contact Angela at [email protected]

Follow her on Twitter @AHarmantas

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Price: 0.075 CAD

TSX-V:ZNG
Market: TSX-V
Market Cap: $6.64 m
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