REG - Arkle Resources PLC - Prospecting Begins on Lithium Exploration Ground

Arkle ResourcesAnnouncement

15/11/2023 07:00

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RNS Number : 4498T  Arkle Resources PLC  15 November 2023

 

15 November 2023

 

Arkle Resources PLC

 

("Arkle" or the "Company")

 

Prospecting Begins on New Lithium Exploration Ground

 

·    Prospecting begins on new lithium exploration ground in Aughrim,
Ireland

·    Ten Targets Identified

 

Arkle (AIM: ARK) is pleased to announce the start of a reconnaissance
prospecting programme in their newly acquired Aughrim block of licences. The
new block consists of four (4) prospecting licences centred around Aughrim,
County Wicklow (the "Block") covering over 150km(2). The main target is
lithium bearing pegmatites which have been located in contiguous ground to the
west of ground held by International Lithium Corp - Ganfeng Lithium Co. Ltd.

 

Compilation work has revealed multiple new targets which are currently being
followed up with ground investigations. The targets were chosen using stream
sediment geochemical pathfinder elements and available geophysical data -
magnetics and radiometric. In total ten (10) priority target areas have been
identified amongst a total of 27 prospective areas within the Block.

 

Unmapped granite bodies have been noted within the Block, these granitic
bodies are related to the Leinster granite which is highly prospective for LCT
(lithium, caesium, tantalum) pegmatites.  LCT pegmatites are found proximal
to the Leinster Granite intrusion and are most often associated with the East
Carlow Deformation Zone (ECDZ) in Ireland, of which a portion of the Aughrim
Block captures.

 

Being contiguous to the Mine River block to the south as well as IMC
Exploration Group's Avoca gold deposit to the east the new ground is also
highly prospective for gold. Multiple alluvial and bedrock occurrences of gold
are known within the Block which will also be investigated.

 

Old copper workings have also been noted within the Block. Further work will
be conducted to evaluate this prospect as well. Open file data suggest the old
reported copper lode has never been assayed for copper.

 

 

John Teeling, Chairman of Arkle, commented: "Prospecting has begun on our four
new lithium licences where we have identified ten potential targets. The new
Aughrim block is an exciting addition to the Company's portfolio. The main
target is lithium but we also have good indications of copper, tungsten and
gold. Current work will aim to narrow down our initial targets to key areas
for follow up work aiming at defining drill sites."

 

Background

 

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 aplites
has been discovered. Historic exploration dates back to the 1970s for gold,
silver and base metals. Despite the ground's proximity to the granite there
has been little to no exploration for lithium.

 

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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