REG - Arkle Resources PLC - Drilling Update on Stonepark Property

Arkle ResourcesAnnouncement

04/04/2024 11:15

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RNS Number : 3326J  Arkle Resources PLC  04 April 2024

 

 

 

4(th) April 2024

 

Arkle Resources PLC

 

("Arkle" or the "Company")

 

Drilling Update on Stonepark Property

 

Arkle (AIM:ARK) have been informed by the Company's partner Group Eleven
(76.56% Group Eleven, Arkle 23.44%)  that they will undertake a drilling
program on the Company's seven license block Stonepark property in the coming
months. The announcement made by Group Eleven reads as follows:

 

"Stonepark - Planning Underway

 

Planning is underway for a drilling program at Group Eleven's 76.56%-owned
Stonepark Project later in 2024. This will include follow-up on drilling at
the Carrickittle West target in 2022, which resulted in the first intersection
by Group Eleven of a major fault in the Limerick basin. Group Eleven expects
to drill a series of widely spaced holes to examine mineralization,
brecciation and Waulsortian thickness variations in the area to improve
understanding of the best area of potential for a major discovery. This
incremental follow-up on the target reduces the risk associated with a single,
deep hole and follows the exploration model that successfully resulted in the
Ballywire discovery in 2022. In addition, other prospective targets across the
Stonepark block will be drill tested during the course of the program. Further
details on the program will be provided in due course."

 

John Teeling, Chairman, commented: "We are very pleased that Group Eleven are
going to undertake this programme. The economics for zinc miners are looking
better due to lower treatment prices for zinc concentrate. We would expect to
participate in this programme."

 

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                          +44 (0) 203 470 0470
 Adam Cowl
 Kasia Brzozowska

 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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