REG - Arkle Resources PLC - Aughrim Exploration Update

Arkle ResourcesAnnouncement

26/01/2024 07:00

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RNS Number : 9656A  Arkle Resources PLC  26 January 2024

 

26 January 2024

 

Arkle Resources PLC

 

("Arkle" or the "Company")

 

Aughrim Exploration Update

Significant Lithium, Tin, Tungsten, and Rare Earths Findings

 

Arkle Resources PLC (AIM: ARK) is pleased to announce significant findings
from its recent prospecting activities in the Aughrim block, Ireland. Arkle's
exploration team has identified several targets of interest, highlighted by
anomalous discoveries in lithium, gold, tin, tungsten, copper, and rare earth
elements.

 

Key Highlights

·    Lithium: analysis revealed anomalous lithium oxide (Li2O) results in
rock samples. Notably, up to 0.09% Li2O was detected, with 26 out of 59
samples showing concentrations greater than 0.02% Li2O. Minor spodumene
crystals, constituting less than 1% of the total rock mineralogy, were
observed in some pegmatite and aplite samples.

·   Beryllium and lithium in pegmatite: one pegmatite sample showed a
significant concentration of 0.246% beryllium and 0.03% Li2O, indicating the
potential presence of economic beryllium in the block.

·    Ballinglen tin & tungsten target: results from the Ballinglen
area revealed 0.028% tin (Sn) and 0.179% tungsten (W), along with an anomalous
lithium presence of 0.08% Li2O.

·   Kingston copper working: sampling at the historic Kingston copper site
yielded encouraging results. This includes 0.388% copper (Cu), 0.089% lead
(Pb), 0.614% zinc (Zn), and minor cobalt at 35.6 parts per million ("ppm").

·   Gold: anomalous gold grades were detected within the block, with
findings of 0.74ppm Au hosted within quartz vein float.

·   Rare earth elements: a sample analysis revealed the presence of rare
earth elements, including 104ppm cerium (Ce), 27.4ppm dysprosium (Dy), and
other significant concentrations. Although not currently economic, the
combined rare earths exceeding 0.05% represent an intriguing exploration
target.

 

 

 

Next Steps

Arkle is planning further geochemical exploration work to investigate these
anomalous areas. The Company remains committed to advancing its exploration
programme and unlocking the potential of the Aughrim block.

 

John Teeling, Chairman of Arkle, commented: "We are very encouraged by the
recent findings in the Aughrim block, highlighting lithium potential along
with gold, tin, tungsten, copper, and rare earth elements. The discovery of
anomalous lithium oxide concentrations and identification of spodumene is
particularly promising. These results, coupled with the presence of other
valuable metals, reinforce the prospectivity of the area and will guide our
focused exploration efforts. We are eager to advance to more detailed
exploration. The additional prospect of gold in the region adds further
excitement to our ongoing analysis."

 

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/Kasia Brzozowska    +44 (0) 203 470 0470

 First Equity Limited
 Joint Broker
 Jason Robertson                               +44 (0) 207 374 2212

 BlytheRay                                     +44 (0) 207 138 3204
 Megan Ray

 Teneo
 Luke Hogg                                     +353 (0) 1 661 4055
 Alan Tyrrell
 Fia Long
 Alan Reynolds

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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