Group Eleven Resources Corp(TSXV:ZNG)

Group Eleven Resources Corp.

Investor website: https://groupelevenresources.com/

About

Group Eleven Resources Corp. was formed in 2015 to target exploration opportunities in the Irish zinc district. The company has established itself as one of the largest license holders in Ireland, acquiring significant interests in key projects such as the Ballinalack Project and the Stonepark Project. It completed an IPO on the TSX Venture Exchange in December 2017 and began trading on the OTC Venture Market in June 2018. The company aims to discover Ireland’s next big zinc mine and generate shareholder returns through innovative exploration strategies.

Verified company data

Cash position
$8.4 M
Shares outstanding
281.9 mln
Fully diluted shares
294.3 mln
Mineral resource
The Ballinalack Project hosts a MRE (Mineral Resource Estimate) totalling 5.4 million tonnes grading 8.7% Zn+Pb combined (7.6% zinc and 1.1% lead) and 9.0 g/t silver. The resource estimate was prepared by CSA Global (UK) Ltd. (“CSA Global”) under contract to SLR Environmental Consulting (Ireland) Ltd. (“SLR”; dated January 11, 2019) and was based upon Group Eleven’s 2018 drill program, as well as, historic drilling from the 1970s onwards. The most advanced asset at the Stonepark project is the Stonepark deposit which hosts 5.1 million tonnes grading 11.3% Zn+Pb (Inferred Category; see report on Stonepark by SLR Consulting dated April 17, 2018).
Projects
["The Stonepark Project is located in southwestern Ireland and represents a joint venture between Group Eleven (77.64% interest) and Arkle Resources plc (22.36% interest), consisting of five (5) prospecting licenses covering an area of 148 square kilometres (see below in brown outline). The Stonepark Project is contiguous to the Company’s PG West Project. To the east, the project is contiguous with Glencore’s Pallas Green Project, which hosts one of the largest undeveloped zinc deposits in the world, totalling 45.4 million tonnes grading 8.4% Zn+Pb (Inferred Category; Glencore’s Reserve and Resource Report dated December 31, 2024). To the west, the project is contiguous with South32/Adventus’ Rathkeale Project. The most advanced asset at the project is the Stonepark deposit which hosts 5.1 million tonnes grading 11.3% Zn+Pb (Inferred Category; see report on Stonepark by SLR Consulting dated April 17, 2018). The deposit remains open to expansion and is 1-3 kilometres away from Glencore’s Pallas Green zinc deposit. Future exploration will also focus on the Carrickittle West prospect, located on the southern margin of the project. In June 2022, the Company announced a breakthrough in the search for yet-undiscovered faults hypothesized to be the source areas (or “feeders\") of mineralization discovered to date in the Limerick region. The Company’s exploration hole G11-2531-01, drilled at the Carrickittle West prospect intersected a fault structure with at least 150 metres of displacement (and associated with zinc mineralization on either side of the structure). To the Company’s knowledge, this was the first large fault directly intersected in the Limerick region, strongly corroborating management’s view that the Carrickittle West area has the potential to host zinc mineralization similar in style and scale to Glencore’s nearby Pallas Green deposit.","The Ballinalack Project is a joint venture between Group Eleven (60% interest) and Shenzhen Zhongjin Lingnan Nonfemet Company Limited (“Nonfemet,” 40% interest), one of the largest zinc producers in China. The project consists of five (5) prospecting licenses covering over 170 square kilometres and is located in north-central Ireland, approximately 50km west from the currently producing Tara (Navan) Zinc-Lead Mine (owned by Boliden AB). The Ballinalack Project hosts a MRE (Mineral Resource Estimate) totalling 5.4 million tonnes grading 8.7% Zn+Pb combined (7.6% zinc and 1.1% lead) and 9.0 g/t silver. The resource estimate was prepared by CSA Global (UK) Ltd. (“CSA Global”) under contract to SLR Environmental Consulting (Ireland) Ltd. (“SLR”; dated January 11, 2019) and was based upon Group Eleven’s 2018 drill program, as well as, historic drilling from the 1970s onwards. After preliminary exploration by the Company over the last few years, future exploration at Ballinalack is likely to focus on two key areas: (1) Pale Bed horizon on the footwall of the Ballinalack fault adjacent to the existing resource (see zinc targets 1, 2 and 3 on the map below); and (2) the Ballycorkey prospect located southwest along trend from the Ballinalack deposit.","The PG West Project (including the Tullacondra Project to the south) is located in southwest Ireland and is 100% owned by the Company. The project consists of 12 PLs (totalling over 354 square kilometres; see red outlines below) contiguous with the Company’s 77.64% owned Stonepark Project. Glencore’s Pallas Green Project (blue outline) and South32/Adventus’ Rathkeale Project (yellow shaded) are adjacent to the PG West Project from the east and west, respectively. Glencore’s Pallas Green deposit hosts 45.4 million tonnes grading 8.4% Zn+Pb (Glencore Reserves and Resource Report dated December 31, 2024), representing one of the largest undeveloped zinc deposits in the world. Group Eleven’s Stonepark deposit, located 1-3 kilometres away, hosts 5.1 million tonnes grading 11.3% Zn+Pb. On September 6, 2022, the Company announced a discovery at the Ballywire prospect located in the southeast portion of the PG West Project, at the intersection of two mineralized trends: the Pallas Green and the Rathdowney Trend. The discovery is approximately 20km southeast of Glencore’s Pallas Green zinc deposit. To date (February 2025), 48 holes have been drilled and reported by Group Eleven. Key intercepts to date include: - 10.8m of 10.0% Zn+Pb and 109 g/t Ag (G11-468-03) - 10.1m of 8.6% Zn+Pb and 46 g/t Ag (G11-468-06) - 10.5m of 14.7% Zn+Pb, 399 g/t Ag and 0.31% Cu (G11-468-12) - 11.2m of 8.9% Zn+Pb and 83 g/t Ag (G11-3552-03) - 29.6m of 10.6% Zn+Pb, 78 g/t Ag and 0.15% Cu (G11-3552-12) and - 11.8m of 11.6% Zn+Pb, 48 g/t Ag (G11-3552-18) - 15.6m of 11.6% Zn+Pb, 122 g/t Ag and 0.19% Cu (G11-3552-27). In addition to zinc, lead and silver mineralization, assays show significantly elevated germanium. For reference, germanium (Ge) trades at approx. US$71/oz, or 2.2x higher than silver at US$33/oz (as at February 2025). Germanium grades within sphalerite-rich zones of mineralization across the Ballywire discovery to date range between 10 g/t Ge and 79 g/t Ge. These represent some of the highest Ge grades known in Ireland and compare favourably to grades at Ivanhoe’s Kipushi zinc project in DRC (64 g/t Ge), stated by the USGS to be the most significant carbonate-hosted Zn-Pb-Cu system containing notable amounts of Ge."]
Leadership
Bart Jaworski (Chief Executive Officer and Director, Over 20 years’ experience in the mining industry, previously served as an exploration geologist and mining analyst.), Jasmine Lau (Chief Financial Officer, Chartered Professional Accountant with over 16 years' experience in the resource sector.), David Furlong P.Geo (Chief Operating Officer, Over 22 years of industry experience as a geologist, previously General Manager, Projects for Rathdowney Resources Ltd.), Dr. Mark Holdstock (Project Manager, Professional Geologist with over 30 years of exploration experience, previously Managing Director at Aurum Exploration Services.), Sheryl Dhillon (Corporate Secretary, Highly experienced corporate secretary with over ten years of experience in corporate governance and communications.)

Verified data last updated: 2026-05-15

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