REG - Arkle Resources PLC - Pegmatites identified in Mine River Block

Arkle ResourcesAnnouncement

24/11/2022 07:01

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RNS Number : 4116H  Arkle Resources PLC  24 November 2022

 

24(th)  November 2022

 

Arkle Resources PLC

 

("Arkle" or the "Company")

 

Pegmatites identified in Mine River Block in search for lithium near the

Leinster Granite Pegmatite Belt

 

Arkle (AIM: ARK) is pleased to announce the discovery of pegmatites in its
Mine River Block on the Wexford/Wicklow border in Ireland, in a new search for
lithium.  The purpose of the reconnaissance work at Mine River was to
establish the presence of granite and any pegmatite and / or aplite rock and
to collect specimens for analysis.

 

The Mine River Block is close to the known lithium-bearing Leinster Granite
Pegmatite Belt ("Leinster Granite"), lying to the west and contiguous with the
ongoing International Lithium Corp. - Ganfeng Lithium Co. Ltd operation where
they have discovered a large zone of lithium-bearing pegmatites and aplites.
 The Mine River Block is well positioned for the exploration of
lithium-bearing pegmatites due to its close proximity to the eastern margin of
the Leinster Granite, which is host to Ireland's lithium pegmatite belt.

 

The Company is delighted to confirm the presence of all three rock types
including granite, pegmatite and aplite within its prospecting licences.  A
large body of the Leinster Granite was located in outcrop at Coolboy in the
north of the licence block with other smaller bodies found extending
south-west to Bunclody.  A total of five target areas were investigated for
this initial reconnaissance work.  Pegmatite and aplite rock boulders were
identified at four of these five target areas.

 

Rock chip samples were collected and will be analysed.  The analysis will
seek to identify common indicator minerals associated with lithium and will
assist in directing future work.

 

John Teeling, Chairman of Arkle, commented: "This is a positive development
for the Mine River Project.  We have found some compelling indications that
lithium bearing pegmatites may be present within the block.  While our focus
to date has been on gold it is long known that indications of lithium were
present. The successful discoveries on licences close to our ground and the
massive demand for lithium to drive the electric vehicle revolution led to
this review. It is early days but positive news."

 

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                                +44 (0) 207 138 3204
 Megan Ray
 Rachael Brooks

 Teneo
 Luke Hogg                                +353 (0) 1 661 4055

Information for Editors

Arkle is a diversified exploration company with principal assets in gold and
zinc exploration licences across 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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