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Group Eleven Announces $2.2 Million in Early Warrant and Option Exercises and Provides Update on Carrickittle West 'Pallas Green Lookalike' Target
Vancouver, British Columbia--(Newsfile Corp. - June 16, 2025) - Group Eleven Resources Corp. (TSX...
About this update from Group Eleven Resources Corp.
[{"type":"text","content":"Group Eleven Announces $2.2 Million in Early Warrant and Option Exercises and Provides Update on Carrickittle West 'Pallas Green Lookalike' TargetVancouver, British Columbia--(Newsfile Corp. - June 16, 2025) - Group Eleven Resources Corp. (TSXV: ZNG) (OTCQB: GRLVF) (FSE: 3GE) (\"Group Eleven\" or the \"Company\") is pleased to announce funding from early warrant and option exercise and provide an update on the Company's Carrickittle West prospect, spanning 77.64%-owned Stonepark Project (\"Stonepark\") and 100%-owned PG West Project (\"PG West\"), Republic of Ireland. Drilling continues with three rigs at the Ballywire discovery (\"Ballywire\") at PG West.Highlights:Early warrant and option exercises totalling proceeds of $2,206,752 received since C$2.5 mln placement closed Feb-28-2025 (including $1,852,902 since publication of Q1 2025 financials)Extra proceeds provide flexibility to ramp-up 2025 drilling and/or extend drilling well into 2026At Carrickittle West, four holes were completed late 2024 and early 2025 (three holes located at Stonepark and one hole located at PG West)Most significant target to emerge from this drilling is the Kilteely Prospect (large breccia body spanning at least 1.5km in strike)G11-2840-30 (365m step-out) intersected numerous zones of weak breccia with pyrite over narrow intervals throughout the Waulsortian Limestone; some breccias returned anomalous Zn-Pb and Cu levels, with the base of the Waulsortian Limestone (key target horizon) hosting minor disseminated pyrite and trace sphaleriteSeveral occurrences of trace sphalerite are present in the hole, potentially suggesting increasing proximity to stronger mineralization relative to previous drilling at KilteelyThree other target areas have also emerged at Carrickittle West, including the Bruff ProspectG11-449-03 (315m step-out), targeting part of the >50km long Coonagh Castle Fault, intersected extensively dolomitized Waulsortian Limestone and a very prominent zone of calcite extending over 35m (from 294m), similar to BallywireBase of Waulsortian is highly dolomitized over a 25m interval with similarities to 'fault dolomite' observed at Ballywire, which indicates intense hydrothermal fluid flow and close proximity to a major fault; follow-up drilling is highly warranted\"Carrickittle West continues to be one the best drill targets in Ireland,\" s...