Pegmatites on new lithium exploration ground

Arkle Resources PLC

29 November 2023

 

29 November 2023

Arkle Resources PLC

("Arkle" or the "Company")

Pegmatites discovered on new lithium exploration ground in Aughrim, Ireland

•    Pegmatites discovered in the Aughrim block.

•    Samples sent for analysis for lithium. 

•    The Aughrim block is proximal to the known lithium bearing Leinster Granite in the east and contiguous to International Lithium Corp. - Ganfeng Lithium Co. Ltd joint venture where a large zone of lithium bearing pegmatites and aplite's has been discovered. 

Arkle (AIM: ARK) has completed an initial prospecting programme on its newly acquired Aughrim block of licences. The new block consists of four (4) prospecting licences centred around Aughrim, County Wicklow. The main target is lithium bearing pegmatites which have been located in contiguous ground to the west held by International Lithium Corp - Gengfeng Lithium Co. Ltd.

Arkle geologists sampled ten priority target areas that were identified during earlier compilation work. The target areas selected included exposed granitic bodies that are part of the Leinster granite which is highly prospective for LCT (lithium, caesium, tantalum) pegmatites. Visual observations by the team identified pegmatites. Fifty-nine (59) samples were collected and have now been received by ALS laboratories who will conduct analysis on them for lithium and other critical metals. 

The new block is also highly prospective for precious metals being contiguous to the Mine River block to the south and IMC Exploration Group's Avoca gold deposit to the east. Numerous historical references to alluvial and bedrock gold were noted and these areas were inspected during this prospecting programme. As a result, eight samples will be assayed for gold. 

John Teeling, Chairman of Arkle, commented: "This discovery is very encouraging and provides impetus for our growing focus on Lithium. The exploration has found new pegmatites on our licences in an area that we know is highly prospective for lithium. Samples are being analysed for lithium. Positive results will lead to an early-stage drilling programme. An added bonus was the discovery of rocks which have the potential for gold. These also are being analysed".

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/Adam Cowl	[phone]
First Equity Limited
Joint Broker
Jason Robertson	[phone]
BlytheRay	[phone]
Megan Ray
Teneo
Luke Hogg	[phone]

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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