Arkle Resources PLC Drilling Update on Stonepark Property
04 April 2024 - 9:00PM
RNS Regulatory News
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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END
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