REG - Arkle Resources PLC - Pegmatites on new lithium exploration ground

Arkle ResourcesAnnouncement

29/11/2023 07:00

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RNS Number : 9691U  Arkle Resources PLC  29 November 2023

 

29 November 2023

 

Arkle Resources PLC

 

("Arkle" or the "Company")

 

Pegmatites discovered on new lithium exploration ground in Aughrim, Ireland

 

•    Pegmatites discovered in the Aughrim block.

•    Samples sent for analysis for lithium.

•    The Aughrim block is proximal to the known lithium bearing Leinster
Granite in the east and contiguous to International Lithium Corp. - Ganfeng
Lithium Co. Ltd joint venture where a large zone of lithium bearing pegmatites
and aplite's has been discovered.

 

Arkle (AIM: ARK) has completed an initial prospecting programme on its newly
acquired Aughrim block of licences. The new block consists of four (4)
prospecting licences centred around Aughrim, County Wicklow. The main target
is lithium bearing pegmatites which have been located in contiguous ground to
the west held by International Lithium Corp - Gengfeng Lithium Co. Ltd.

 

Arkle geologists sampled ten priority target areas that were identified during
earlier compilation work. The target areas selected included exposed granitic
bodies that are part of the Leinster granite which is highly prospective for
LCT (lithium, caesium, tantalum) pegmatites. Visual observations by the team
identified pegmatites. Fifty-nine (59) samples were collected and have now
been received by ALS laboratories who will conduct analysis on them for
lithium and other critical metals.

 

The new block is also highly prospective for precious metals being contiguous
to the Mine River block to the south and IMC Exploration Group's Avoca gold
deposit to the east. Numerous historical references to alluvial and bedrock
gold were noted and these areas were inspected during this prospecting
programme. As a result, eight samples will be assayed for gold.

 

John Teeling, Chairman of Arkle, commented: "This discovery is very
encouraging and provides impetus for our growing focus on Lithium. The
exploration has found new pegmatites on our licences in an area that we know
is highly prospective for lithium. Samples are being analysed for lithium.
Positive results will lead to an early-stage drilling programme. An added
bonus was the discovery of rocks which have the potential for gold. These also
are being analysed".

 

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

 Teneo
 Luke Hogg                                +353 (0) 1 661 4055

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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