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Arkle Resources PLC - Operational Update

RNS Number : 1342I
Arkle Resources PLC
10 December 2020
 

 

 

10 December 2020

 

Arkle Resources PLC

 

("Arkle" or the "Company")

 

Operational Update

 

 

-     Trenching has begun at Arkle's 100% owned Inishowen project in Donegal in a bid to expand the gold veins first discovered in 2016

 

-     Reanalysis of a visible gold sample from the Mine River project identifies higher grade up to 7.34g/t within a 50g ore grade sample, with an overall average of 6.39g/t compared to 5.5g/t in the earlier analysis

 

-     Completion of drilling by Group Eleven at the Stonepark zinc project with results expected in January 2021

 

 

John Teeling, Chairman, commented. "I am delighted to report that we have begun trenching on our Donegal gold project. The objective is to locate new gold veins. There is further good news from our Mine River gold project as more detailed analysis from the recent trenching programme has increased the grade of a significant sample from 5.5g/t to an average of 6.39g/t gold on 30g and 50g representative crushed samples. The next step, in early 2021 is drilling on both projects."

 

Arkle Resources (AIM:ARK) is pleased to announce the commencement of a trenching programme at their wholly owned Inishowen project.  Eight trenching locations have been identified from the recent soil sampling survey surrounding the Meeneragh Target in Inishowen where 5.48m at 4.8g/t gold was intercepted during early drilling.  The objective of the trenching programme is to find new outcrops of gold.

 

At Mine River, further to the announcement on 26 November 2020, the sample showing the most significant gold grades (5.5g/t) was reanalysed by ALS Laboratories using the 'Ore Grade' fire assay technique to establish if the previously quoted grade was truly representative of the overall sample. Two analysis were conducted using a 30g and 50g representative sample.  The results were 6.35g/t and 7.34g/t respectively.  Along with the previous result of 5.5g/t, this gives an average grade of the vein that was sampled as 6.39g/t gold.

 

The Company has been informed by Group Eleven Resources Corp. ("Group Eleven"), that drilling at the Stonepark zinc project, Arkle (23.44%) and Group Eleven (76.56%) has recently completed and that results from this programme are expected in January 2021.

 

This announcement has been reviewed and approved by Gavin Berkenheger (CGeol) in his capacity as the Qualified Person for the purposes of the AIM Note for Mining, Oil and Gas Companies issued by the London Stock Exchange.

 

Market Abuse Regulation (MAR) Disclosure

Certain information contained in this announcement would have been deemed inside information for the purposes of Article 7 of Regulation (EU) No 596/2014 until the release of this announcement.

 

ENDS

 

Enquiries:

 

Arkle Resources PLC


John Teeling, Chairman

+353 (0) 1 833 2833

Jim Finn, Finance Director

+353 (0) 1 833 2833



SP Angel Corporate Finance LLP
Nominated Adviser & Joint Broker


Matthew Johnson/Adam Cowl

  +44 (0) 203 470 0470



First Equity Limited


Joint Broker


Jason Robertson

  +44 (0) 207 374 2212



Blytheweigh

  +44 (0) 207 138 3204

Megan Ray


Rachael Brooks




Teneo

 

Luke Hogg

  +353 (0) 1 661 4055

Ross Murphy

  +353 (0) 1 661 4055

 

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