RESOURCES CORP.
New High-GradeZinc-Lead- Silver Discovery in Ireland
April 2024 | TSX.V: ZNG | OTC: GRLVF | FRA: 3GE |
Important Notice
This Presentation is given by Group Eleven Resources Corp. ("the Company"), incorporation number BC1098004, registered office at 1050-400 Burrard Street, Vancouver, BC, Canada, V6C 1M2 and is made subject to the terms outlined below. No securities regulatory authority has expressed an opinion about the information contained in this Presentation and it is an offence to claim otherwise.
This document and its contents may not be reproduced, redistributed or passed on, directly or indirectly, to any other person or disclosed or published, in whole or in part, for any purpose. This document is being provided for information purposes only and thus viewing, downloading, reproducing, copying or distributing this Presentation may be restricted by law in certain jurisdictions.
Except for statements of historical fact relating to the Company, certain statements in this Presentation may constitute forward-looking information, future oriented financial information, or financial outlooks (collectively, "forward-looking information") within the meaning of Canadian securities laws. Forward-looking information may relate to this Presentation, Company's future outlook and anticipated events or results and, in some cases, can be identified by terminology such as "may", "will", "expected", "estimate", "potential" or "possible" or other similar expressions concerning matters that are not historical facts and include, but are not limited in any manner to, those with respect to commodity prices, mineral resources, mineral reserves, realization of mineral reserves, existence or realization of mineral resource estimates, the timing and amount of future production, the timing of construction of the proposed mine and process facilities, capital and operating expenditures, the timing of receipt of permits, rights and authorizations, and any and all other timing, development, operational, financial, economic, legal, regulatory and political factors that may influence future events or conditions, as such matters may be applicable. In particular, this Presentation contains forward-looking statements pertaining to proposed expenditures for exploration work, and general and administrative expenses.
Such forward-looking statements are based on a number of material factors and assumptions, and include the ultimate determination of mineral reserves, if any, the availability and final receipt of required approvals, licenses and permits, sufficient working capital to develop and operate any proposed mine, access to adequate services and supplies, economic conditions, commodity prices, foreign currency exchange rates, interest rates, access to capital and debt markets and associated costs of funds, availability of a qualified work force, and the ultimate ability to mine, process and sell mineral products on economically favourable terms. While the Company considers these assumptions to be reasonable based on information currently available to it, they may prove to be incorrect. Actual results may vary from such forward-looking information for a variety of reasons, including but not limited to risks and uncertainties disclosed in this Presentation. The Company has no specific policies or procedures for updating forward-looking information. Forward-looking statements are based upon management's beliefs, estimates and opinions on the date the statements are made and, other than as required by law, the Company does not intend, and undertakes no obligation to update any forward looking information to reflect, among other things, new information or future events. Potential investors are cautioned against placing undue reliance on forward-looking statements.
This Presentation does not constitute investment advice or a recommendation regarding the securities of the Company or an offer or invitation to subscribe for securities of the Company or its affiliates.
Scientific and technical information in this Presentation, excluding information related to other companies obtained from publicly available sources, has been approved by Prof Garth Earls, Eur Geol, PGeo, FSEG of IGS (International Geoscience Services) Ltd., who is a qualified person for the purposes of National Instrument 43 101 and who is independent of the Company. Scientific and technical information is derived from the technical reports entitled "NI 43-101 Independent Report on a Base Metal Exploration Project at Ballinalack, County Westmeath, Ireland" with an effective date of January 11, 2019, "NI 43-101 Independent Report on the Zinc-Lead Exploration Project at Stonepark, County Limerick, Ireland" with an effective date of April 26, 2018, and "NI 43-101 Independent Report on a Base Metal Exploration Project at Silvermines, County Tipperary, Ireland" with an effective date of February 28, 2017, each of which was prepared for the Company by EurGeol Dr. John G. Kelly, PGeo, MIMMM, MIQ and EurGeol Paul Gordon, PGeo, MSc of SLR Consulting (Ireland) Ltd. in accordance with National Instrument 43-101. Complete copies of the technical reports are available for review, in colour, on the System for Electronic Document Analysis and Retrieval (SEDAR) located at the following website: www.sedar.com.
TSX.V: ZNG, | OTC: GRLVF | FRA: 3GE | 2 |
VISION
Discover Ireland's Next Big Zinc
Mine In Order To Generate
Exponential Shareholder Returns And Local Economic Benefits
Investment Highlights
New High-GradeZinc-Lead-Silver (Germanium) Discovery at the Ballywire Prospect, Ireland
Corporate Overview | ||
Positive Outlook for Zinc | Base Metals (Zinc and Copper) Will be Increasingly Important for the Global Energy Transition | |
| Increasing Infrastructure Spending in U.S. and China is Poised to Drive Zinc Demand Growth | |
Ireland - Six Discoveries Brought Into Production Over The Last 60 Years, Reflecting High | ||
Ireland Has Track Record | Grades, Excellent Infrastructure And Proximity To Smelters | |
Ireland Ranks Very Well On Fraser Institutes' Annual Mining Survey | ||
Experienced Team | Highly Experienced In Irish and Global Zinc Exploration, Capital Markets, Legal and Accounting | |
Strong Shareholders | Glencore - Owns 18.1% (Basic) And Has Director on ZNG Board | |
| Michael Gentile - Owns 15.0% (Basic) and 18.4% (Partially Diluted) | |
Key Assets | ||
New Discovery Announced Sept-2022 Yielding High-Grade Massive Sulphides Over Significant | ||
Ballywire Discovery | Widths and Open For 6km by 2km | |
Located Only 20km From Glencore's Pallas Green Zinc Deposit (45mt of 8.4% Zn+Pb, Inferred)* | ||
Carrickittle West | Very Compelling Target 5-10km from Glencore's Pallas Green Zinc Deposit* | |
Valuation Anchors | Stonepark MRE - 5.1mt of 11.3% Zn+Pb (Inferred; NI43-101; owns 76.56% interest)^ | |
| Ballinalack MRE - 5.4mt of 8.7% Zn+Pb (Inferred; NI43-101; owns 60% interest)+ | |
Upcoming Catalysts | Follow-Up Drilling at Ballywire (Ongoing, Funded) | |
| Follow-up Drilling at Stonepark (Including at Carrickittle West prospect) | |
Footnotes: * Pallas Green MRE is owned by Glencore (see Glencore's Resources and Reserves Report dated December 31, 2022); ^ Stonepark MRE: 'NI 43-101 Independent
Report on the Zinc-Lead Exploration Project at Stonepark, County Limerick, Ireland', by Gordon, Kelly and van Lente, dated April 26, 2018; + Ballinalack MRE: 'NI 43-101 Independent Report on a Base Metal Exploration Project at Ballinalack, Co. Westmeath, Ireland" by Gordon, Kelly and van Lente, date January 11, 2019;
TSX.V: ZNG, | OTC: GRLVF | FRA: 3GE | 4 |
Why Zinc?
Global Zinc Inventories at Decade Lows, Zinc Price Buoyant on Smelter Constraints, Infrastructure
- Green Energy Revolution
- Zinc-Batteriesfor Grid Power Storage
- Offshore Wind
- Solar Farms
- Zinc in Fertilizers
- China: World Food Program
- Conventional Uses
- Galvanizing Steel, Die-Casting, Chemicals, Agri. and Pharma.
- Mine supply
- Recently Falling and Unlikely to Meet Projections
- Infrastructure
- US and China - to Accelerate Infrastructure Spending?
US$/tonne
4,000
3,000
2,000
Zinc Price vs. Global Inventories (2004 to 2024)
Source: FactSet
Zinc Price (US$/lb) - 5 Year
Source: Trading Economics
2020 | 2021 | 2022 | 2023 | 2024 |
TSX.V: ZNG, | OTC: GRLVF | FRA: 3GE | 5 |
Team - Exploration, Capital Markets and Legal Experience
Board of Directors
Dan MacInnis | Chairman (non-executive)
- Geologist / Executive
- Retired CEO of MAG Silver (sits on MAG Board)
- 40 yrs experience, involved with 7 discoveries
- Spent 5 yrs in Ireland in late 70s with Noranda
Bart Jaworski | Chief Executive Officer
- Geologist / ex Mining Equity Analyst
- 24 yrs experience (co-founder of Group Eleven)
- Including 12 yrs with Raymond James and Davy
- Regional identification of Coffee Creek anomaly
Brendan Cahill | Director (non-executive)
- Law and corporate finance expertise
- Director (CEO: 2012-2022) of Excellon Res. Inc.
- Previously with Pelangio Group of Companies
Alessandro Bitelli | Chair, Audit Cmte. (non-exec)
- Chartered Accountant
- Retired CFO, Lundin Gold (Fruta Del Norte)
- Former CFO of Red Back Resources upon $10bln takeover by Kinross in 2010
Ken Klassen | Director (Glencore appointee)
- 20 year career as Canadian M&A and corporate lawyer at leading Canadian law firms
- Retired (2016) General Counsel of Glencore plc
- Recently on Board of Noranda Income Fund
Management
Jeannine Webb | Chief Financial Officer
- Chartered Professional Accountant with 30 yrs experience
- President of Venturex Consulting Inc.
- Formerly with Badger & Co Management Corp.
David Furlong | Chief Operating Officer
- Geologist with 24 yrs industry experience
- Co-Founderof Group Eleven
- Previously, GM at Rathdowney Resources
Dr Mark Holdstock | Project Manager
- Geologist with over 30 yrs experience
- Led team which discovered >20Mt 'SWEX extension' at Navan mine in Ireland
- Previously, MD at Aurum Exploration Services
TSX.V: ZNG, | OTC: GRLVF | FRA: 3GE | 6 |
Capital Structure
Share | Owners | Exercise | Expiry Date^ | Shares |
Structure | Price | (mln) | ||
Basic | 200.4 | |||
Options | Directors | $0.09-0.11 | Oct-25 to Oct-28 | 1.7 |
Officers | $0.09-0.11 | Oct-25 to Oct-28 | 1.9 | |
Employees | $0.09-0.11 | Oct-25 to Oct-28 | 0.8 | |
Warrants | Investors | $0.12-0.18 | Oct-24 to May-26 | 30.2 |
Glencore | $0.12 | Oct-24 | 3.4 | |
F. Diluted | 238.4 | |||
DSUs | Indep. Directors | n/a | n/a | 3.5 |
Note: ^ above data as of Apr 08, 2024 |
Other Items | |
Cash on hand (Q3/23 ending 30Sep + $3.0m PP closed) | C$4.0 mln |
Market Capitalization (as at Apr-08-2024 - 23.0c/sh) | C$46.1 mln |
Daily Avg Trading Volume (TSX-V and OTC, 3-month) | 264,000 shares |
52-wk Trading Range (TSX-V) | C$0.06-C$0.28 |
Ownership (Basic)
Glencore 18.1%
Michael
OthersGentile
61.9%15.0%
Teck 1.7%
Insiders 3.3%
TSX.V: ZNG, | OTC: GRLVF | FRA: 3GE | 7 |
Why Ireland?
Unrivalled Zinc Potential - Ranked No. 1 in the World for Zinc Found Per Square Kilometre
Greenest Zinc in the World?
- Clean Metallurgy - Coarse, Clean Ores
- Infrastructure Rich - Roads, Power, Tidewater
- Proximity to European Smelters
- Wind Power - 100% by 2030 (Offshore Ramp-Up)
Mining History and Investment
• | 6 Mines Permitted Over Last 60 Years |
• | Majors - Boliden, Glencore, Teck, South32 |
Ballinalack
Tara (Boliden, C&M)
Tynagh(shut)
Silvermines
Silvermines(shut)
Galmoy(Shanoon,re-opening)
Fraser Institute (2021)
- No. 1 for 'Policy Perception Index'
- No. 15 for 'Investment Attractiveness'
Group Eleven asset
New Ballywire Discovery
Zinc deposit
Lisheen(Vedanta,shut)
Stonepark | PallasGreen(Glencore) |
/ PG West | Gortdrum(Cu,shut) |
0 25 50
kilometres
Zinc - small deposit or major occurrence | Source: modified from P. Tyler | Note: Mine ownerships as at time of commercial mining; 'shut' means |
commercial mining ended; 're-opening' refers to Shanoon Resources' plans to re-open mine; 'C&M' means | |
temporary care and maintenance |
TSX.V: ZNG, | OTC: GRLVF | FRA: 3GE | 8 |
Ballywire - At Intersection of Regional Mineralized Trends
Dominant License Position in Most Metal-Endowed Zinc Camp in Ireland (outside of Navan)
TSX.V: ZNG, | OTC: GRLVF | FRA: 3GE | 9 |
Ballywire Discovery - Plan View
Robust Zinc-Lead Mineralization Intercepted Over 2.6km, Prospective Trend At Least 6km Long
N
G11-468-06 (60m Step-Out)
10.1m of 8.6% and 46 g/t, incl.
6.0m of 12.4% and 68 g/t, incl.
2.5m of 29.2% and 160 g/t
ABL
97-468-2 |
2.5m of 6.2% incl |
0.5m of 20.3% |
WL
G11-468-01
3.3m of 12.5%, 48.3 g/t incl
0.4m of 25.5%, 92.2 g/t
G11-3552-03 (160m Step-Out)
58.0m of 3.1%, 25 g/t, incl.
32.7m of 4.4%, 37 g/t, incl.
11.2m of 8.9%, 83 g/t, incl.
0.7m of 38.7%, 160 g/t and
0.2m of 27.1% and 397 g/t
G11-468-12('Feeder Zone', 80m Step-Out)18.8m of 10.2%, 257 g/t and 0.22% Cu, incl. 10.5m of 14.7%, 399 g/t and 0.31% Cu; and 8.3m of 5.7%, 86 g/t and 0.17% Cu, incl.
4.3m of 8.8%, 149 g/t and 0.31% Cu
G11-468-03 (Discovery Hole) | |
66.0m of 2.8% and 29 g/t, incl. | |
10.8m of 10.0% and 109 g/t, incl. | |
6.9m of 15.4% and 160 g/t, incl. | SWL |
2.1m of 40.8% and 385 g/t | |
SWL
0 | 250 | 500 | 1000 | ||||
metres
LEGEND
Drill Holes
Significant mineralization (>2.5m of 6.0%) Highly Anomalous (<2.5m of 6.0%)
No mineralization
Inconclusive (target not reached) Cross-Section
Other
-
Zn+Pb (or Cu if noted)
g/t Silver
Interpreted Fault Zone
SWL Supra (above) Waulsortian
WL Waulsortian Limestone
BLN Ballynash Limestone
ABL Argillaceous Bioclastic Lm.
Note: Step-out distances from prior reported cross-section
10
Attachments
- Original Link
- Original Document
- Permalink
Disclaimer
Group Eleven Resources Corp. published this content on 09 April 2024 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 09 April 2024 22:00:02 UTC.