RNS Number : 3326J
Arkle Resources PLC
04 April 2024
 

 

 

 

4th 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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