REG - Arkle Resources PLC - Update on Progress on African Lithium Licences

Arkle ResourcesAnnouncement

18/09/2024 07:00

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RNS Number : 5805E  Arkle Resources PLC  18 September 2024

 

 

18 September 2024

 

Arkle Resources PLC

 

("Arkle" or the "Company")

 

Update on Progress on African Lithium Licences

 

Highlights

·    Sampling is underway on the Company's lithium brine licences in
Botswana

·    Early-stage prospecting will commence in days on the Zimbabwean hard
rock licences which are prospective for lithium

 

John Teeling, Chairman, commented, "The Makgadikgadi Salt Pans in Botswana
have potential to play a significant part in the growth of high-grade lithium.
We have started a sampling programme on our 937sq km licence blocks to extract
brines which will be tested in the ALS laboratory in Brisbone to confirm the
presence of lithium. Assuming confirmation of lithium presence, the next
stage, already planned, is a grid sampling programme to estimate lithium
grades across the block.

 

"On our Zimbabwe hard rock ground, we will complete a prospecting programme
which we expect to confirm the presence of lepidolite, a lithium bearing ore."

 

Arkle Resources PLC (AIM:ARK) is pleased to update shareholders on our lithium
exploration activities in Botswana and Zimbabwe.

 

Botswana

The Company holds two licences totalling 837sq km in the Makgadikgadi Salt
Pans. Earlier work confirmed the presence of a layer of brines across the
licences. The current project is to recover samples of the brines which will
be analysed to detect trace lithium.

 

5kg samples of brines will be taken from below the hard crusty salt core using
an auger drill. The samples will be analysed by ALS in Brisbane using ICP-MS
technology. The initial sampling work will take about two weeks.

 

Assuming the detection of lithium traces, a structural grid sampling program
has been developed using larger augers to reach the shallow water table. The
samples will be sent for Direct Lithium Extraction (DLE) analysis to identify
grades.

 

Zimbabwe

The Company holds 3 licences covering 153 hectares in the Insiza area of
Matabeleland of Zimbabwe. Zimbabwe is one of the world's leading hard rock
lithium producers. The area has a number of active lithium explorers. Arkle is
undertaking a reconnaissance of the ground to look for traces of, and extent
of, spodumene and / or lepidolite rock. Earlier work indicated the presence of
these rocks.

 

Why Lithium

The supply / demand balance for Lithium is being transformed by surging
demand, growth at 25% yearly, especially for high-purity, battery-grade
Lithium Carbonate and Lithium Hydroxide. There is no plausible way that
currently identified hard rock deposits in Africa and Australia can supply
this demand so the search is on for lithium in the brines of salt pans.

 

Lithium mineralisation has long been known in the Makgadikgadi Salt Pans. But
Botswana exploration interest was mainly in diamonds. Confirmatory work was
conducted on the brines by Australian and South African explorers from time to
time, but their main expertise was in hard rock sources, especially spodumene.

 

Until recently the economics of the Makgadikgadi Salt Pans seemed inferior to
those of the world's richest, proven salt pans. However, the recent
development of Direct Lithium Extraction technologies have the potential to
greatly increase output of high-purity Lithium salts from brines, at much
lower cost and less water and energy consumption than traditional evaporation
techniques.

 

Market Abuse Regulation (MAR) Disclosure

 

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                        +44 (0) 203 470 0470
 Adam Cowl

 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

 

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