REG - Arkle Resources PLC - Drilling Started on Stonepark Licence Block

Arkle ResourcesAnnouncement

12/09/2024 11:15

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RNS Number : 9609D  Arkle Resources PLC  12 September 2024

 

 

12 September 2024

 

Arkle Resources PLC

 

("Arkle" or the "Company")

 

Drilling Started on Stonepark Licence Block in Limerick, Ireland

 

Arkle Resources PLC (AIM:ARK), has been informed by Group Eleven Resources
Corp ("Group Eleven"), its partner on the Stonepark licence block (held 23.44%
by Arkle and 76.56% by Group Eleven), that Group Eleven as the operator on the
block, has begun a drilling campaign. The targets were identified in previous
work and the programme intends on drilling 4-5 holes totalling 1,700m,
focusing on the Carrickittle West area in the southern part of the block of 7
licences.

 

Highlights

 

•           A drill programme of 4-5 holes at Carrickittle West,
Stonepark block, totalling approx. 1,700m (hole depths of 350m to 550m)
testing the southern margin of the Limerick Volcanic Complex ("LVC"), a
prospective area of approximately 11km in strike-length

•           Targets include areas of brecciation and mineralisation
seen in previous drilling, the Kilteely volcanic centre and the SW extensions
of the Coonagh Castle Fault first intersected by Group Eleven, in 2022

•           The volcanic centre at Kilteely, covering 2km x 6km, is
the focus of renewed attention by the joint venture given its potential
association with zinc mineralization - the only other interpreted volcanic
centre in the LVC is located adjacent to the Glencore owned Pallas Green
deposit which is 5km north of Carrickittle West which contains over 45 million
tonnes of zinc/lead ore

 

 

Link to the Group Eleven press release can be found here:

https://www.groupelevenresources.com/news/news/2024/
(https://www.groupelevenresources.com/news/news/2024/)

 

John Teeling, Chairman of Arkle, commented, "Renewed drilling on the Stonepark
block is very welcome news. Though down from recent highs, the price of zinc
is very attractive. The target zones in the south of the 7 licence block were
discovered by our partner Group Eleven in earlier drilling. 1,700m of drilling
will be completed on 4 or 5 holes depending on the depths of the targets. The
zones lie 5km from the large Pallas Green zinc discovery owned by Glencore."

 

Market Abuse Regulation (MAR) Disclosure

 

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.

 

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                        +44 (0) 203 470 0470
 Adam Cowl

 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

 

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