Donegal Gold Drilling Update

Arkle Resources PLC

01 February 2024

 

1 February 2024

Arkle Resources PLC

("Arkle" or the "Company")

Donegal Gold Drilling Update

Arkle Resources reports results from Inishowen Co. Donegal drilling programme

Highlights

·    Results up to 0.8m at 1.65g/t gold including 0.25m at 2.94g/t gold

·    Strike length extended for gold-bearing structure

Arkle Resources (AIM:ARK) is pleased to announce the results from the Company's December 2023 drilling programme at the Inishowen Co. Donegal gold prospect. These results expand the strike length of the known gold bearing structure with grades of up to 1.65 g/t gold over 0.8m gold from split core samples.

Assay results include:

Hole ID	From (metres)	To (metres)	Length (metres)	Gold grade (g/t)
23-MR-13	23.50	24.70	1.20	0.52
23-MR-14*	33.00	41.00	8.00	0.30
*including	33.00	35.05	2.05	0.51
*including	39.45	41.00	1.55	0.65
23-MR-15	33.00	33.80	0.80	1.65
23-MR-16	53.20	53.80	0.60	0.31

Table 1: Highlights of drill results.  Vein was drilled perpendicular to vein strike.  Vein estimated to dip at around 80 degrees.  All lengths reported as downhole widths not true width.

Gold grades were found within both quartz veins but also within fault gouge and surrounding wall rock. Core loss was encountered within 23-MR-14 and if fault gouge had washed out, grade may have been reduced. In future, drilling is expected to use triple-tube in order to limit the core-loss.

John Teeling, Chairman of Arkle Resources, commented: "We are encouraged by the results of our drilling programme at Inishowen. The discovery of gold mineralisation in multiple holes along strike demonstrates that the main vein continues northwards as predicted but will now require further drilling to truly evaluate its potential.  We are not deterred by the lower grades in this recent drilling campaign as this is typical in these types of systems and we expect grades and widths to fluctuate along strike. We look forward to further exploration and development of this project."

Further Information

Four drill holes were completed during this phase of drilling totalling 220.4 metres.  The first two drill holes, 23-MR-13 and 23-MR-14 were drilled from the same drill pad at 45 and 70 degrees respectively, targeting the main vein at the Meeneragh target which was found during the previous trenching campaign.  Hole 23-MR-13 intercepted the vein from 23.50m and returned 0.52g/t gold over 1.2 metres.  Hole 23-MR-14 incepted the vein at 33 metres returning a grade 0.3g/t over an interval of 8 metres, including 2.05 metres at 0.51g/t gold.  Due to significant core loss, the directors believe that the grade is under represented.  23-MR-15 and 23-MR-16 were drilled 50 metres along strike, also from one drill pad at 45 and 70 degrees respectively.  23-MR-15 intercepted the vein at 33 metres and returned a grade of 1.65g/t gold over 0.8 metres.  23-MR-16 intercepted the vein at 53.20 metres grading 0.31g/t gold over 0.6 metres.  All core was drilled at NQ size.  Half core was sent for analysis to ALS Laboratories in Loughrea, Ireland. Regular blanks and standards were inserted in the sample stream for QA/QC purposes.  Samples were prepared using PREP-31B crush to 70% less than 2mm, riffle split off 1kg and pulverize split to better than 85% passing 75 microns. Multi-element analysis was conducted using ME-ICP61 a four acid digestion with ICP-AES finish. Gold was analysed using Au-AA26 ore grade fire assay. 

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	[phone]
Jim Finn, Finance Director	[phone]
SP Angel Corporate Finance LLP Nominated Adviser & Joint Broker
Matthew Johnson	[phone]
Adam Cowl
Kasia Brzozowska
First Equity Limited
Joint Broker
Jason Robertson	[phone]
BlytheRay	[phone]
Megan Ray
Teneo
Luke Hogg	[phone]
Alan Tyrrell
Fia Long
Alan Reynolds

Information for Editors

Arkle is a diversified exploration company with lithium exploration licences in Ireland, Zimbabwe and Botswana and gold and zinc projects in Ireland.  

 

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