REG - Arkle Resources PLC - Granting of new lithium exploration ground

Arkle ResourcesAnnouncement

25/10/2023 07:00

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RNS Number : 1760R  Arkle Resources PLC  25 October 2023

 

25 October 2023

 

Arkle Resources PLC

 

("Arkle" or the "Company")

 

Granting of new lithium exploration ground

 

Arkle (AIM: ARK) is delighted to announce it has been granted a new lithium
exploration block north of its Mine River Block in Wicklow/Wexford in Ireland.
The new block consists of four prospecting licences for lithium, rare earth
elements and other minerals, including gold and platinum. The licences cost a
total of €3,000 and Arkle is required to spend a minimum of €10,000 in
exploration costs on each licence over the next 24 months. The ground is
contiguous with the International Lithium Corp - Gangfeng Lithium Co. Ltd
joint venture to the west, where a large zone of lithium bearing pegmatites
has been discovered associated with the Leinster Granite Pegmatite Belt. The
Directors believe this new ground is fertile for lithium deposits.

 

 Licence number  Area (m³)
 415             28.42
 3029            32.23
 1716            37.36
 2053            29.27

New lithium prospecting licences in Ireland

 

John Teeling, Chairman of Arkle, commented: "I am delighted that Arkle has
been awarded four licences in Wicklow to prospect for lithium, rare earths and
gold, among other minerals. It has long been known that the Leinster granites
contain lithium in pegmatites, but little serious exploration has been
undertaken. We identified this ground after earlier prospecting by Arkle on
our existing licences indicated their prospectivity. It is prime ground which
has never been explored for lithium. We will be on the ground in the near
future."

 

Background

 

The Aughrim Block is proximal to the known lithium bearing Leinster Granites
in the east and contiguous to International Lithium Corp. - Ganfeng Lithium
Co. Ltd joint venture where a large zone of lithium bearing pegmatites and
aplites has been discovered. Historic exploration dates back to the 1970s for
gold, silver and base metals. Despite the ground's proximity to the granites
there has been little to no exploration for lithium.

 

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.

 

This announcement contains inside information for the purposes of Article 7 of
the Market Abuse Regulation (EU) 596/2014 as it forms part of UK domestic law
by virtue of the European Union (Withdrawal) Act 2018 ("MAR"), and is
disclosed in accordance with the Company's obligations under Article 17 of
MAR.

 

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

 BlytheRay
 Megan Ray                               +44 (0) 207 138 3204

 Teneo
 Luke Hogg                                +353 (0) 1 661 4055

Information for Editors

Arkle is a diversified exploration company with principal assets in gold, zinc
and now lithium exploration licences in Ireland. The Company currently has two
100% owned gold projects (Mine River and Inishowen) and is in joint venture
with Group Eleven Resources Corp. at the Stonepark Zinc Project.

 

 

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