Arkle Resources PLC Preliminary results from drillhole 4 at Mine River (9774E)
13 July 2021 - 4:00PM
UK Regulatory
TIDMARK
RNS Number : 9774E
Arkle Resources PLC
13 July 2021
13 July 2021
Arkle Resources PLC
("Arkle" or the "Company")
Preliminary results from drillhole 4 at Mine River
- 4metres at 2.03g/t Au including 0.5metres at 9.11g/t Au in hole 21-TB-08
- Further gold analysis ongoing
Arkle Resources (AIM: ARK) is pleased to announce preliminary
results from their fourth drillhole of the diamond drilling
programme being undertaken at the Company's 100% owned Mine River
Gold Project in Wicklow / Wexford. Highlights below:
Hole ID From To Width Au (g/t)
21-TB-08 112.30 113.30 1.00 0.24
------- ------- ------ ---------
21-TB-08 127.90 128.40 0.50 1.49
------- ------- ------ ---------
21-TB-08 130.90 131.40 0.50 0.89
------- ------- ------ ---------
21-TB-08 138.40 143.40 5.00 0.21
------- ------- ------ ---------
21-TB-08 145.40 149.40 4.00 2.03
------- ------- ------ ---------
Including:
21-TB-08 146.90 147.90 1.00 5.18
------- ------- ------ ---------
Including:
21-TB-08 147.40 147.90 0.50 9.11
------- ------- ------ ---------
This recent drillhole, which was drilled to a depth of 200
metres, was located 50 metres directly north of the original
high-grade hole drilled at Tombreen in 2017.
These results represent the standard initial gold analysis by
fire assay. Arkle geologists believe that some grades may be lower
than expected due to the nugget effect, as visible gold was noted
in three of the samples sent for analysis but returned lower grades
than expected. Under the standard fire assay method, each sample,
which weighs roughly 1.8kg, is crushed to 70% less than 2mm, riffle
split off 250 grams, pulverise split better than 85% passing
through a 75 microns screen where a 30 gram representative sample
is used in the final analysis. During the sample preparation
process nuggets may or may not make their way to the final
representative sample and therefore cause a nugget affect whereby
the analysis may give an over or under estimation of the overall
gold grade. The further analysis currently underway is carried out
on a milled portion of 1 kg of each sample. This portion is sieved
through a 100 micron sieve. Oversize fraction, that typically
weighs from a few grams and up to about 100g, and which contains
coarser nuggets, is analysed in full using its entire weight,
making a few fusions of 50g each. The under-size fraction is
analysed using two replicate 50g portions. The process is also more
lengthy but it is hoped that results will be available by the end
of the month.
The current results in Hole 4 have revealed further gold bearing
blue quartz and quartz veining in shale at a deeper level.
The rig has now completed Hole 5, a 200 metre drill hole, which
is 220 metres west along strike. Early observations have noted
further blue quartz veining and sulphide, though no visible gold.
The core has been sent for analysis and results are expected next
month. The rig has now been moved back for a 50 metre step out hole
from Hole 4.
John Teeling, Chairman commented : "The preliminary results show
extensive gold mineralisation over 4 metres in Hole 4. The reported
grades may not reflect the visible gold seen in the core due to the
so called "nugget effect". Further analysis is underway to clarify
this.
Hole 5, 220 metres away, has been completed with the gold
bearing veins intersected. The rig has now moved back to drill a
step out hole 50 metres from Hole 4."
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".
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/Adam Cowl +44 (0) 203 470 0470
First Equity Limited
Joint Broker
Jason Robertson +44 (0) 207 374 2212
Blytheweigh +44 (0) 207 138 3204
Megan Ray
Rachael Brooks
Teneo
Luke Hogg +353 (0) 1 661 4055
Ciara Wylie +353 (0) 1 661 4055
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