REG - Arkle Resources PLC - Drilling to Begin on Stonepark

Arkle ResourcesAnnouncement

19/01/2022 11:05

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RNS Number : 9642Y  Arkle Resources PLC  19 January 2022

 

 

19 January 2022

 

Arkle Resources PLC

 

("Arkle" or the "Company")

 

Drilling to Begin on Stonepark

 

Arkle Resources plc (AIM: ARK) is pleased to announce that a six hole, fully
funded drilling programme will commence in weeks on the Stonepark block of
licences in Limerick, adjacent to the Pallas Green zinc deposit. Arkle's share
(23.44%) of the drilling programme is €75,000, with the remaining interest
held by Group Eleven Resources Corp. (TSX.V: ZNG) ("Group Eleven").

 

Highlights:

 

-     Six hole programme to commence within weeks

-     Total drilling 2,300 metres

-   Two holes (250 metres and 400 metres) will be drilled to seek an
extension of the Carrickittle prospect into the Southwest of the Stonepark
block

-     One hole will be a 100 metre step-out hole near Stonepark North

-     Three further holes will target earlier stage prospects in the South
and East of the block

 

The programme has three objectives. To extend the Stonepark North zone, to
test an extension of the Carrickittle discoveries into the Southeast of the
Stonepark block and three holes to test new prospects: two in the East and one
in the South of the block, targeting  the Southern margin of the Limerick
Volcanic Complex.

 

Group Eleven, Arkle's partner, is the operator of Stonepark and holds a 76.56%
interest in Stonepark. The full Group Eleven announcement will be available on
their website at: https://www.groupelevenresources.com/news/
(https://www.groupelevenresources.com/news/)

 

John Teeling, Chairman commented: "Our partner, Group Eleven, has extensively
studied the wider geological picture around Stonepark. Their proposed drilling
programme reflects this, one step-out hole to seek an extension of the
Stonepark North zone, two holes to test an extension from the Group Eleven
Carrickittle resource into Stonepark and three exploratory holes on the
Stonepark ground, testing new targets on the Limerick Volcanic Complex. These
targets are close to the adjacent ground being drilled by South 32 /
Adventus.  The objective is to find a mirror image of the large Glencore
owned Pallas Green zinc deposit adjacent to Stonepark. The programme will take
up to three months to complete."

 

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.

 

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
 Ciara Wylie                            +353 (0) 1 661 4055

 

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