Spectacular Drill Results Spark Sharp Move Higher for This Zinc-Silver Explorer

2026-01-19 10:55:36 ET

As commodity prices continue to climb for a myriad of reasons, companies involved in the exploration and extraction of these resources have emerged as major beneficiaries of the ongoing bull market. One micro-cap miner added further momentum to the sector today, announcing impressive drill results that propelled its shares up nearly 30% in early trading.

As mentioned, shares of Group Eleven Resources Corp. (TSX-Venture: ZNG) (OTCQB: GRLVF) are surging today as the company announced results from nine new drill holes at its Ballywire discovery within the 100%-owned PG West Project in Ireland, highlighting a significant extension of the massive sulphide system. One standout hole, drilled 80 metres southwest of the known zone, returned nearly 30 metres of exceptionally high-grade mineralization, averaging strong combined zinc and lead values alongside robust silver and copper grades. Within this interval were multiple higher-grade sections, including a core zone containing very elevated silver and copper values, confirming the continuity and strength of the mineralized system and extending the known footprint of the discovery.

In addition, drilling identified a newly mineralized zone within a 400-metre gap between previously tested holes along the southwestern portion of the Ballywire drill fence. This hole intersected more than 30 metres of zinc-lead mineralization with consistent silver values, including several narrower intervals of higher-grade material. These results demonstrate that mineralization persists in areas previously untested, further supporting the potential scale of the Ballywire discovery and reinforcing the exploration upside at the PG West Project.

"Today's results represent our best hole to date since inception of the Company back in 2015," stated Bart Jaworski, CEO. "Hole 25-3552-51 intersected nearly 30m of excellent zinc and lead grades, including over eight metres of spectacular silver numbers, up to 4,260 g/t, coincident with very strong copper and antimony concentrations. The interval is hosted within a bedding-parallel massive sulphide zone interpreted to be close to true width. Importantly, this hole surprised to the upside, showing a previously unexpected 80m extension of the massive sulphide zone towards the SW, opening new expansion potential in this area. Importantly, this hole continues further down to test the Deeper Cu-Ag target below today's interval. That work is ongoing with assays pending."

Shares of ZNG are currently up 29.29% at $0.905 in mid-morning trading.

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