Group Eleven Resources (TSXV: ZNG) announced Thursday it has started drilling at the Stonepark zinc project in Ireland. The project is a joint venture between the company (76.56%) and Arkle Resources (23.44%).
The Stonepark property is located in the Limerick basin in southwestern Ireland, and is adjacent to the company’s PG West project and Glencore’s Pallas Green project.
The drill program at Stonepark consists of two step-out holes, planned to total approximately 810 metres (360 and 450 metres, respectively). The holes will test extensions of the Stonepark mineral resource, estimated at 5.1 million tonnes grading 8.7% zinc and 2.6% lead (11.3% combined) in the inferred category.
Plans for follow-up drilling at the Carrickittle zinc prospect located on the PG West project are also nearing completion, the company said.
Recent drilling at Carrickittle returned high-grade results of 14.6% zinc, 5.0% lead (19.6% combined) and 43 g/t silver over a depth of 10.3 metres, which Group Eleven says is “a very rare occurrence these days in the industry.”
On its regional targets within the remainder of the PG West project, drilling has been completed with results pending over the coming weeks.
Shares of Group Eleven rose 5.5% at Thursday’s market open, giving the Vancouver-based mining junior a market capitalization of approximately C$10.86 million.