Canadian junior Group Eleven has announced a new mineral resource estimate for its 60%-owned Ballinalack zinc project, in Ireland.
The Ballinalack project contains estimated inferred mineral resources of 5.4-million tonnes grading 8.7% zinc and lead combined (7.6% zinc and 1.1% lead) and 9.0 g/t silver. The project contains 898-million pounds of zinc and 136-million pounds of lead for a combined 1.03-million pounds.
The resource estimate is based on recent drilling and on historic information from the 1970s onward.
"We are very pleased with this first NI43-101 mineral resource estimate on the project as it demonstrates concrete progress at Ballinalack. Specifically, we are delighted that the average grade of the estimate is significantly higher than the historic estimate from 1991 and that the metal content, despite a higher cut-off, remains above a billion pounds of zinc and lead," stated CEO Bart Jaworski.
He also noted that the deposit was open along and across strike, corroborating its recent drilling which helped identify four targets in the lower Navan Beds, three of which already contain strongly mineralised historic intercepts.
"Strategically, it is important to remember that Ballinalack is located only 50 km from Boliden's giant Navan zinc mine – the largest zinc mine in Europe. With the Ballinalack mineral resource estimate completed, we now have a springboard from which to focus on significant discovery both near the deposit and regionally as part of our ongoing 'Big Think' initiative," Jaworski said.
The Ballinalack resource represents the company's second resource after the maiden inferred mineral resource announced on the 76.56%-interest Stonepark project, also located in Ireland.