Group Eleven Extends Ballywire Discovery Strike Length 17% to 1.87 km

Group Eleven Resources has stretched the high-grade core of its Ballywire discovery in Ireland by about 17%. A 270-metre southwest step-out pushed the intersected massive and semi-massive sulphide strike length from roughly 1.60 km to 1.87 km, and the company says its drilling is funded into late 2027 or early 2028.

Today’s release covers five new holes, taking the total reported at Ballywire to 91. It also flags an early, faint hint of a second zone to the northeast.

The setting matters. Ireland hosts Tara, the largest lead-zinc mine in western Europe, and Ballywire sits in the same Limerick district as Glencore’s Pallas Green deposit.

The Limerick area is increasingly viewed as an emerging polymetallic district, where zinc, lead, silver and copper mineralisation sit alongside established deposits and new discoveries.

Here is what the new assays show, what remains unproven, and which updates will tell you whether the discovery keeps building.

What the five new holes show about the system’s growing footprint

The extension rests on two southwest holes, and the numbers firm up the zone hole by hole.

Strike-length extension High-grade sulphide strike length rose from about 1.60 km to about 1.87 km, an increase of roughly 17%.

Zinc-lead step-out and infill results

Step-out hole 26-2654-04 returned 24.2 m of 2.8% zinc plus lead (Zn+Pb) and 5 g/t silver from 434 m, including 1.0 m of 22.1% Zn+Pb. Grams per tonne (g/t) measures how much metal sits in each tonne of rock. Infill hole 26-468-26, drilled into a 390 m gap between drill fences, cut 31.1 m of 3.7% Zn+Pb and 15 g/t silver, including 7.4 m of 10.1% Zn+Pb.

Together, the company says, the two holes outline a 420-metre high-grade zone.

Copper-silver zone and the northeast signal

Deeper down sits a separate story. Hole 26-3552-61 returned 7.7 m of 29 g/t silver and 0.79% copper, in rock containing malachite, chalcopyrite and suspected tennantite-tetrahedrite (copper-bearing minerals). True thickness is estimated at 90-100% of the drilled width for the zinc-lead and 60-70% for the deeper copper-silver.

Then came the quiet twist. Northeast hole 26-3552-59 returned just 0.08% Zn+Pb over 28.7 m, which the company treats as early, unconfirmed evidence of a possible parallel zone.

Read the headline carefully. The longer strike rests on a few high-grade slices inside longer moderate-grade runs, so it signals scale rather than value. The wider system spans about 3.2 km within a 6 km trend, with only one of four gravity targets drilled systematically.

Separate laboratory work has also shown that germanium grades at Ballywire averaged 68% higher under a revised assay technique, though that remains optionality rather than a base-case driver.

Why “most significant in a decade” is a company claim, and what remains unproven

Group Eleven calls Ballywire “the most significant mineral discovery in Ireland in over a decade.” Earlier hits give the line some pull: 52.3 m at 10.3% Zn+Pb, 330 g/t silver and 0.40% copper, and 62.5 m at 5.6% Zn+Pb.

But that claim is the company’s own. No named independent analyst has been found reaching it separately.

Announced in September 2022, the discovery is still growing four years on, and several pieces are missing:

• No NI 43-101 resource, the Canadian standard for publicly reporting estimated tonnes and grade
• No proven link between the zinc-lead and the deeper copper-silver
• No published metallurgy showing how well the metals can be recovered
• No mine application or approval

The district comparison shows where Ballywire sits. An Inferred resource is the lowest-confidence estimate category.

Metal prices help sentiment. Copper traded near US$14,541/t on 9 October, according to Reuters via Kitco, though no comparable zinc, lead or silver prices were available. Copper alone should not anchor a valuation.

For you, strong intercepts are reasons to keep watching, not grounds to assume tonnage or economics the company has not yet published.

For readers wanting the wider evidence base, our full explainer on what Ballywire drilling has proven separates drilled intercepts from tonnes, with a clear view of the open metallurgy questions.

Funded into 2027, with Glencore on both sides of the fence: what to watch next

The reassuring part is money. A C$12 million bought deal closed on 11 March 2026 lifted planned drilling from about 20,000 m to roughly 67,000 m, with four rigs at Ballywire and one at Stonepark.

Funded programme About 67,000 m of drilling: 51,500 m at Ballywire/PG West and 15,500 m at Stonepark, running from April 2026 to late 2027 or early 2028.

The cash balance itself is not disclosed. Resource definition, feasibility and permitting would likely need further capital, and possible dilution.

The strategic tension sits on the share register. Glencore Canada holds 12.8% and Michael Gentile 13.6%, while Glencore also controls neighbouring Pallas Green. That creates options, but no transaction is agreed or implied.

Concrete markers to track:

1. Assays from 16 holes completed or under way
2. Northeast follow-up on the possible parallel zone
3. Stonepark’s next hole, after 26-2638-07 returned 14.7 m of 2.0% Zn+Pb
4. Any first resource estimate for Ballywire

What the step-out changes, and what only more drilling can settle

The extension and a funded programme strengthen the case that Ballywire is large. Resource size, deep copper-silver continuity, metallurgy and permitting all remain open questions.

The evidence that should shift your view is the next assay batch, particularly the northeast and Stonepark follow-up. Figures here come from company disclosures.

This article is for informational purposes only and should not be considered financial advice. Investors should conduct their own research and consult with financial professionals before making investment decisions. Forward-looking statements are speculative and subject to change based on market developments and company performance.