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Group Eleven Resources ( (TSE:ZNG) ) has provided an announcement.
Group Eleven Resources reported new drill results from its Ballywire discovery at the PG West Project in Ireland, extending a previously announced high-grade interval to 52.3 metres grading 10.3% combined zinc and lead, 330 grams per tonne silver and 0.40% copper. The intercept, located at and immediately below the base of the Waulsortian Limestone, is now the company’s best hit to date in terms of combined thickness and grade.
Deeper in the same hole, the company intersected three new copper-silver zones, including 3.7 metres at 225 grams per tonne silver and 1.03% copper, in a 350-metre step-out that confirms continuity of Cu-Ag-bearing fault structures across two drill fences. Management says this materially strengthens the case that copper-silver mineralization may extend along the entire known strike of Ballywire and, with four rigs currently operating and a strong treasury, positions Group Eleven to accelerate resource growth and further de-risk the discovery for stakeholders.
The most recent analyst rating on (TSE:ZNG) stock is a Hold with a C$0.70 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 Corp. is a mineral exploration company focused on zinc, lead, silver and copper in Ireland, where it holds a 100% interest in the PG West Project. The company is advancing its Ballywire discovery, targeting both shallow zinc-lead-silver mineralization and deeper copper-silver zones, and is currently running an expanded multi-rig drill program to grow the deposit.
Average Trading Volume: 344,054
Technical Sentiment Signal: Buy
Current Market Cap: C$190.4M
For an in-depth examination of ZNG stock, go to TipRanks’ Overview page.