Advanced Stage Zinc Exploration in Ireland
RESOURCES CORP.
July 2020 TSX.V: ZNG | OTC: GRLVP | FRA: 3GE
Advanced Stage Zinc Exploration in Ireland July 2020 - - PowerPoint PPT Presentation
RESOURCES CORP. Advanced Stage Zinc Exploration in Ireland July 2020 TSX.V: ZNG | OTC: GRLVP | FRA: 3GE Important Notice This Presentation is given by Group
RESOURCES CORP.
July 2020 TSX.V: ZNG | OTC: GRLVP | FRA: 3GE
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
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
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 has been approved by David Furlong, P.Geo., who is a qualified person for the purposes of National Instrument 43-101 and who is not 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 October 6, 2017, “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 EuroGeol Dr. John G. Kelly, PGeo, MIMMM, MIQ and EuroGeol 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. 2
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TSX.V: ZNG, | OTC: GRLVF | FRA: 3GE
Global Zinc Inventories at Decade Lows, Zinc Price Muted Due to Covid-19 and US-China Trade War Zinc Price vs. LME Inventories (1995 to present) ► Zinc Batteries
► Zinc in Fertilizers
Food Program ► Conventional Uses
die-casting, alloy metals ► Mine supply
impacted by Covid-19 ► Trade War / Covid-19
infrastructure spend? Zinc Price (US$/lb) (1 Year)
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Vision
Focus and Catalysts Drilling-Focus in 2020
Near-term catalysts
Strategic Shareholders
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TSX.V: ZNG, | OTC: GRLVF | FRA: 3GE
Share Structure Owners Exercise Price (C$) Expiry Date* Shares (mln) Basic 88.6 Options Directors $0.25 Feb-23 1.1 Consultants $0.20 Sep-23 0.2 Employees $0.16 Oct-22 2.0 Warrants Investors $0.21 Apr-21 2.6 Glencore $0.15 Oct-22 11.7
106.1 Strategic and Institutional Shareholders: ➢ Glencore ➢ MAG Silver ➢ Teck Resources
As at July 03, 2020
Other Items Cash (Q1 2020 plus recent placements) C$1,295,260 Market Capitalization (as at July-06-2020) C$4.9m Daily Avg Trading Volume (TSX-V) 52,080 shares 52-wk Trading Range C$0.02-C$0.09
Note: * Earliest Expiry Date
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No Event Description No Event Description
1 Ballinalack Seismic Re-Interpretation 11 Increase Preliminary Drill Program on Stonepark 2 Drilling Commences at Ballinalack 12 Announces Non-Brokered Private Placement 3 Stonepark Maiden Resource 13 Closes Tranche 1 4 Appoints Spiros Cacos as VP, Investor Relations 14 Closes Tranche 2 5 Stonepark Drill Results 15 Stonepark Drill Results (Ballywire, Kilteely) 6 Ballinalack Drill Results 16 Tellus Survey (Airborne Geophysics) Completed 7 Torrey Hills Appointed 17 Canaccord Share Payment 8 Tellus Survey, Big Think Q&A 18 Starts Drilling Ballinalack / 3D Model 9 Drilling Commences at Stonepark 19 Closes $1M financing with Glencore 10 Ballinalack Mineral Resource
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4 6 5 7 8
Price (C$/sh) and Volume (Jan-2018 to Oct-2019)
10 11 12 13 14 15 16 17 18 19
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Board of Directors Management
Dan MacInnis | Chairman (non-executive)
Bart Jaworski | Chief Executive Officer
Alessandro Bitelli | Chair, Audit Cmte. (non-exec)
takeover by Kinross in 2010 Brendan Cahill | Director (non-executive)
Shaun Heinrichs | Chief Financials Officer
David Furlong | Chief Operating Officer
Dr Mark Holdstock | Project Manager
extension’ at Navan mine in Ireland
Peter Megaw | Frank Hallam | John Prochnau
Technical Advisors
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Source: modified from P. Tyler
G11 property Zinc deposit Zinc – small deposit
Gortdrum(Cu,shut)
Silvermines Tralee Stonepark
PallasGreen(Glencore) Galmoy(Lundin,shut) Lisheen(Vedanta,shut) Tynagh(shut) Navan (Boliden) Silvermines(shut)
25 50 kilometres
Ballinalack
Ireland – Geology and Economics
10mt at 10% Zn+Pb Ireland – Fraser Institute (2017)
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Both ‘Above-Ground’ and ‘Below-Ground’ Dynamics are Very Attractive for Zinc Exploration
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Source: Modified after Dr John Kelly, SLR Consulting, 2018
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Ballinalack Stonepark Pallasgreen Navan Oola Gortdrum Silvermines
In Ireland – Zinc Occurs in the Waulsortian Limestone and Navan Beds
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Source: Modified after Unicorn Mineral Resources Ltd.
TSX.V: ZNG, | OTC: GRLVF | FRA: 3GE Navan Bed Target North South
Zinc Typically Occurs Close to Major Faults (which Allowed Mineralizing Fluids to Migrate Upwards)
Faults
50 100
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Searching for the Heart of the Pallas Green Trend
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Ownership
Strategic location
Zn+Pb; Inferred Mineral Resource, as at 31-Dec-2018) History
Resource
Database
Sunk cost
Stonepark
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14 Stonepark
Note: Classification of the MRE was completed based on the guidelines presented by Canadian Institute for Mining (CIM), adopted for Technical reports which adhere to the regulations defined in Canadian National Instrument 43-101 (NI 43-101).
estimation search pass number and number of samples, and zinc equivalent grade
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Average Grade of 11.3% Zn+Pb – with the Bulk of Resource Grading at an Impressive 12.1% Zn+Pb
15 Stonepark
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Other zinc
Carrickittle Oola Courtbrown Pallas Green deposit Gortdrum
Dominant License Position in Most Metal-Endowed Zinc Camp in Ireland (outside of Navan)
5.1 Mt @ 11.3% Zn+Pb2 45.1 Mt @ 8.4% Zn+Pb1
(1) Pallas Green Inferred Resource (Glencore, Resources & Reserves dated Dec 31, 2018), (2) Stonepark Inferred Resource (Group Eleven news release dated April 17, 2018)
Limerick PG West (100% G11) Stonepark JV (77% G11) Ballywire Stonepark deposit PG West (100% G11) South32 (Rathkeale)
16 Stonepark
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Dominant License Position in Most Metal-Endowed Zinc Camp in Ireland (outside of Navan)
17 Stonepark
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Main Zinc Mineralizing System May Occur Under the Volcanic Complex
4.3m of 14.1% Zn+Pb3
3 Carrickittle prospect (select interval from historic drilling; Hole P4)
18 Stonepark
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19 Stonepark
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Pallas Green Corridor
20 Stonepark
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Pallas Green Corridor
21 Stonepark
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Navan Bed Potential Lies Beneath
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Ownership
Strategic location
Resource Estimate
History
Infrastructure
pop.) Metallurgy
Database
Sunk cost
* Mineral Resource Estimate in the Inferred Category as stated in Group Eleven news release dated November 28, 2018.
Ballinalack
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24 Ballinalack
Classification of the Ballinalack MRE was completed based on the guidelines presented by Canadian Institute for Mining (CIM), adopted for Technical reports which adhere to the regulations defined in Canadian National Instrument 43-101 (NI 43-101).
US$6.73/t metal, and Ag in Pb US$6.97/t metal.
search pass number and number of samples, and zinc equivalent grade.
relevant factors that could materially affect the MRE.
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Average Grade of 8.7% Zn+Pb – Significant Improvement on Historic Estimate from 1991
G11-1345-01 G11-3936-01 G11-622-01 (thick, shallow, highly-anomalous Zn+Pb) (moderately anomalous Zn+Pb) (weakly anomalous Zn+Pb)
Ballycorkey Prospect Ballinalack Zn-Pb Deposit
Zn+Pb Grade (% x m) in Navan Beds Interpolation of Zn+Pb Grade (% x m) in Navan Beds
LEGEND
Waulsortian Lmst Moathill (Navan Beds) Meath (Navan Beds)
Recent drilling by Group Eleven suggests Ballycorkey is look-alike to the Ballinalack deposit
26 Ballinalack
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Further Drilling Required to Expand Existing Navan Bed Mineralization
4a 4b 4c 4d
1344-02 G11-
4e
Historic hole that intersects Navan Beds Not assayed for silver Zinc Targets Ballinalack Deposit % Zinc + Lead Ballinalack Fault Cross Faults n/a g/t Silver LEGEND G11 hole
27 Ballinalack
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Hanging wall targets virtually untested with drilling to date
Ballinalack Deposit* (blue) Ballinalack Fault Navan Beds Cross Faults Looking ESE 4b 4c 4d 4e Target Areas
250 metres (approximate)
* Mineral Resource Estimate in the Inferred Category (5.4mt @ 7.6% Zn + 1.1% Pb) as stated in Group Eleven news release dated November 28, 2018.
28 Ballinalack
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Footwall targets already pierced by a number of strong zinc intercepts
Ballinalack Deposit* (blue) Ballinalack Fault Navan Beds Cross Faults 3 2 Target Areas Looking NNW 2 1 3
250 metres (approximate)
* Mineral Resource Estimate in the Inferred Category (5.4mt @ 7.6% Zn + 1.1% Pb) as stated in Group Eleven news release dated November 28, 2018.
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Mafic Dyke Mafic Dyke
700m 764m 680m 340m 401m 473m 481m 708m Paleozoic Basement Supra-Waulsortian Calp Limestone Waulsortian Limestone Argillaceous Bioclastic Lmst Shaley Pales Pale Beds 45.1m downhole thickness of mafic dyke containing: 2.30m of 0.216 g/t 4PGE, 0.18% Ni, 0.19% Cu and 203 ppm Co; including 0.30m of 0.528 g/t 4PGE, 0.43% Ni, 0.37% Cu and 494 ppm Co; Ballinalack Zinc-Lead Deposit 5.4 million tonnes of 7.6% zinc and 1.1% lead (Inferred Category); see news release dated November 28, 2018 NW SE
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RESOURCES CORP. Suite 1050 – 400 Burrard Street Vancouver, BC, Canada V6C 1M2 Bart Jaworski, CEO E: b.jaworski@groupelevenresources.com T: +353 85 833 2463 Shaun Heinrichs, CFO E: s.heinrichs@groupelevenresources.com T: +1 604 630 8839