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Group Eleven Drills 6.2m of 312 g/t Ag and 0.95% Cu, incl. 2.8m of 549 g/t Ag and 1.77% Cu in a 90m Step-Out, Further Supporting Deeper Cu-Ag Target at Ballywire
TargetTarget(US:TGT) Newsfileยท2025-08-28 10:00

Core Insights - Group Eleven Resources Corp. has reported significant drilling results from its Ballywire discovery, indicating a deeper copper-silver target that is currently being explored [1][3][9] Drilling Results - The latest drill hole 25-3552-37 intersected 6.2m of 312 g/t silver and 0.95% copper, including a high-grade section of 2.8m at 549 g/t silver and 1.77% copper [2][14] - Additional notable intercepts include 0.3m of 2,470 g/t silver and 5.87% copper, marking one of the highest silver/copper assays in Ireland [2][14] - The results have extended the main discovery corridor at Ballywire by 135m, increasing its length from 1,300m to 1,435m [2][3] Exploration Strategy - The company is currently utilizing three drilling rigs at Ballywire, with plans to add a fourth rig soon, aiming to complete approximately 25,000m of drilling by the end of 2026 [7][15] - The deeper copper-silver target is being actively tested, with two holes completed and a third in progress [7][10] Financial Position - Group Eleven has reported a strengthened cash position totaling C$8.4 million, which supports ongoing exploration activities [3][9] Mineralization Context - The mineralization at Ballywire consists predominantly of sphalerite, galena, and pyrite, with copper-silver zones also containing chalcopyrite [13][22] - The discovery at Ballywire is considered the most significant mineral discovery in Ireland in over a decade, with a total of 56 holes drilled to date [9][22]