Northwire Canada EditionTuesday, November 10, 2026
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Drill Results Routine +

Group Eleven Reports 94% Higher Germanium Grades, up to 155 g/t Ge, at Ballywire with Improved Accuracy Assay Method

Group Eleven reports upgraded by-product grades from re-assays, with no changes to tonnes or metal content disclosed for the project.

By The Northwire Desk — AI Analysis Nov 10, 2026 · 05:01 ZNG · 0.71 Group Eleven Resources Corp.
Executive Summary

Group Eleven Resources Corp. (ZNG) reported on November 10, 2026, that a second batch of 110 core samples from the Ballywire project has been re-analysed for germanium. The company stated that the new analytical method, which utilizes sodium peroxide fusion (ME-MS89L) instead of the previously used lithium borate fusion (ME-MS81), returned germanium grades that are 94% higher on average, with individual values reaching up to 155 g/t Ge.

The re-assay programme involved samples from 12 previously released drill holes and does not represent new drilling activity. Selected reported intervals from the re-assays, comparing the new germanium grades to previously published figures, are detailed below:

  • G11-3552-19: 8.69m @ 42.9 g/t Ge (prev. 15.3), 23.86% Zn+Pb, 85 g/t Ag.
  • G11-468-03: 6.85m @ 38.3 g/t Ge (prev. 18.7), 15.40% Zn+Pb, 160.3 g/t Ag; and 2.05m @ 93.1 g/t Ge (prev. 47.8), 40.78% Zn+Pb, 384.7 g/t Ag; and 1.67m @ 48.8 g/t Ge (prev. 27.0), 21.26% Zn+Pb, 251.8 g/t Ag.
  • G11-468-01: 3.30m @ 43.7 g/t Ge (prev. 26.5), 12.48% Zn+Pb, 48.3 g/t Ag.
  • G11-3552-12: 2.83m @ 26.6 g/t Ge (prev. 17.8), 9.77% Zn+Pb, 24.0 g/t Ag; and 5.72m @ 14.8 g/t Ge (prev. 7.1), 12.53% Zn+Pb, 132.5 g/t Ag.
  • G11-3552-17: 8.35m @ 15.2 g/t Ge (prev. 6.0), 7.04% Zn+Pb, 67.4 g/t Ag; includes 0.33m @ 154.5 g/t Ge (prev. 66.1); and 3.29m @ 49.3 g/t Ge (prev. 15.3), 16.05% Zn+Pb, 30.1 g/t Ag.
  • G11-3552-03: 0.73m @ 94.3 g/t Ge (prev. 24.4), 38.65% Zn+Pb, 160.0 g/t Ag; and 0.18m @ 46.9 g/t Ge (prev. 12.4), 27.12% Zn+Pb, 397.0 g/t Ag.
  • G11-3552-18: 1.06m @ 82.0 g/t Ge (prev. 17.5), 36.10% Zn+Pb, 218.0 g/t Ag.
  • G11-468-12: 4.32m @ 15.3 g/t Ge (prev. 12.4), 8.76% Zn+Pb, 148.8 g/t Ag; and 2.11m @ 16.7 g/t Ge (prev. 13.3), 30.70% Zn+Pb, 723.8 g/t Ag.
  • G11-468-13: 0.75m @ 39.1 g/t Ge (prev. 15.8), 13.68% Zn+Pb, 57.6 g/t Ag.
  • G11-468-15: 0.19m @ 49.9 g/t Ge (prev. 11.4), 22.20% Zn+Pb, 199.0 g/t Ag.
  • G11-468-06: 2.48m @ 27.0 g/t Ge (prev. 19.3), 29.16% Zn+Pb, 160.0 g/t Ag.
  • G11-3552-16: 0.64m @ 36.7 g/t Ge (prev. 22.9), 33.96% Zn+Pb, 106.0 g/t Ag.

The release also confirmed that four rigs are active at Ballywire, with 18 new holes either completed or in progress. This activity is part of a fully funded approximately 67,000m drilling programme following the company's C$12M financing in March 2026.

Material Impact

Group Eleven Resources Corp. (ZNG) released an update on assay methods and by-product grades at its Ballywire project, providing a technical refinement rather than a new discovery. The company reported no new tonnes, strike length, drill holes, or zones. The known mineralised strike at Ballywire remains approximately 3.2km within a 6km trend, and the geometry of the Deeper Cu-Ag and Zn-Pb-Ag deposits is unchanged.

The primary change involves the estimated germanium (Ge) content of previously reported intervals. If Ge is recoverable and payable, the by-product credit could be significant. At 20-50 g/t Ge, the in-situ Ge value is roughly US$150-380/t of rock at 100% recovery, before smelter deductions. The September 2026 Ge release was already a positive assay-method update, but today’s second batch shows improved grades, with a 94% higher average versus 68% previously. The update also highlighted wider high-grade intervals, including:

  • 8.69m @ 42.9 g/t
  • 6.85m @ 38.3 g/t

This technical update improves the by-product story but does not define a resource or economics. Prior-period financial context for the company includes a Q1-2026 net loss of C$1.89M, cash of C$18.0M, no debt, equity of C$25.9M, and a book value of C$0.09/share. Against the equity, the impact is incremental. The company is valued at roughly C$202M with no resource at Ballywire and no metallurgy. The market has marked the stock down from C$1.30 in May 2026 to C$0.71 in November 2026, indicating it is not pricing a Ge upgrade as a base case.

ZNG · Price
Company Overview

Group Eleven Resources Corp. (TSXV: ZNG; OTCQB: GRLVF; FSE: 3GE) is a TSXV-listed junior explorer focused on Irish zinc-lead-silver-copper-germanium projects. Its flagship discovery, Ballywire, is located within the 100%-owned PG West Project in Ireland and is described by the company as the most significant mineral discovery in the country in over a decade.

The company also holds a 77.64% interest in the Stonepark project, located approximately 20km from Ballywire and adjacent to Glencore’s Pallas Green zinc-lead deposit. Stonepark carries an inferred resource of 5.1 million tonnes at 11.3% Zn+Pb (8.7% Zn and 2.6% Pb), dated 2018. Nearby, Glencore owns the Pallas Green deposit, which holds an inferred resource of 45.4 million tonnes at 8.4% Zn+Pb (7.2% Zn + 1.2% Pb), dated 2025. While Pallas Green is not an asset of Group Eleven, it provides context for the district.

Major shareholders include Michael Gentile with approximately 13.6% and Glencore Canada with approximately 12.8%. Insider holdings stand at approximately 2.6%. The company’s capital structure consists of 284.1 million basic shares and 295.8 million fully diluted shares. Outstanding securities include 5.6 million warrants at C$0.28 expiring in February 2027, 4.6 million options, and 2.6 million DSUs.

Financially, the company reports no revenue. For the first quarter of 2026, Group Eleven recorded a net loss of C$1.89 million. The company holds C$18.0 million in cash and C$25.9 million in total equity, resulting in a book value of C$0.09 per share. While the company is funded for its current drill programme, it remains dependent on equity financing over time.

Operations are currently underway with four rigs active at Ballywire and one at Stonepark. The funded programme totals approximately 67,000 metres, with a potential to reach 75,000 metres, including approximately 51,500 metres at PG West.

Read the original news release →

More from Group Eleven Resources Corp.

Oct 14, 2026 · 05:01

Group Eleven’s Ballywire step-out extends strike width, though grades lagged the discovery’s best holes.

Drill Results Sep 17, 2026 · 06:01

Group Eleven’s new assay method doubles germanium grades without increasing tonnes, resource, or recoveries at its project.

Drill Results Aug 20, 2026 · 06:01

Group Eleven’s 710m copper-silver step-out at Ballywire expands the deposit, though shallow zinc-lead grades thin.

Drill Results Jul 23, 2026 · 03:01

Group Eleven’s Stonepark step-out intersects a new zinc-lead zone 550m from the existing resource, though grades remain modest compared to Ballywire.

Drill Results Jul 07, 2026 · 06:01

Group Eleven’s Ballywire step-outs reveal expanding high-grade Zn-Pb-Ag and Cu-Ag zones, confirming the deposit is growing and already well-flagged.

Drill Results Jun 11, 2026 · 06:01

Group Eleven’s Ballywire discovery returned 23.6% copper, challenging the viability of its C$222 million market capitalization following a 39% stock slide.

Drill Results