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Group Eleven Resources ( (TSE:ZNG) ) just unveiled an update.
Group Eleven Resources reported its best drilling results to date from the Ballywire discovery at its PG West project in Ireland, highlighted by hole 25-3552-51, which intersected 29.9 metres grading 15.3% zinc plus lead, 552 g/t silver and 0.67% copper from 339 metres depth, extending the main massive sulphide zone by 80 metres to the southwest and revealing exceptionally high silver, copper and antimony grades over shorter intervals. A second key hole, 25-468-19, uncovered a new significantly mineralized zone in a 400-metre gap at the southwest end of the discovery, intersecting 32.3 metres of 3.0% zinc plus lead with several higher-grade sub-intervals, suggesting additional mineralized lenses south of and potentially parallel to the current trend; with four rigs now active and a strong treasury, the company is signaling substantial exploration upside and a potential step-change in the scale and significance of Ballywire for stakeholders.
The most recent analyst rating on (TSE:ZNG) stock is a Hold with a C$0.76 price target. To see the full list of analyst forecasts on Group Eleven Resources stock, see the TSE:ZNG Stock Forecast page.
Spark’s Take on TSE:ZNG Stock
According to Spark, TipRanks’ AI Analyst, TSE:ZNG is a Neutral.
The score is held back primarily by weak financial performance (no revenue, widening losses, and worsening cash burn), partially offset by a low-debt balance sheet. Technicals are supportive with strong uptrend and positive momentum, while valuation remains pressured due to negative earnings. Recent corporate updates are constructive, driven by encouraging exploration results.
To see Spark’s full report on TSE:ZNG stock, click here.
More about Group Eleven Resources
Group Eleven Resources is a Canadian exploration company focused on zinc, lead, silver and copper, with its flagship Ballywire discovery located within the 100%-owned PG West project in the Republic of Ireland. Listed on the TSX-V, OTCQB and Frankfurt exchanges, the company targets high-grade base and precious metal mineralization in Ireland, aiming to expand its resource base through aggressive drilling campaigns.
YTD Price Performance: -5.41%
Average Trading Volume: 393,386
Technical Sentiment Signal: Buy
Current Market Cap: C$183M
For a thorough assessment of ZNG stock, go to TipRanks’ Stock Analysis page.