Soil sampling results Mine River

RNS Number : 4783Y

Arkle Resources PLC

09 September 2020

 

9 September 2020

Arkle Resources PLC

("Arkle" or the "Company")

Soil sampling results Mine River

· Soil survey identifies 5 new target areas along the gold trend at Mine River Project

· Licences covering the target areas have been renewed

Arkle Resources (AIM:ARK) is pleased announce the results of the soil sampling survey at their Mine River gold project in the Republic of Ireland.  In addition, the two key licence areas that encompass the Tombreen and Knocknalour targets have been renewed.

Five strong gold indicator anomalies have been detected along the gold trend east of Tombreen.  A 5km squared area was surveyed using XRF handheld technology obtaining soil samples every 20m along 100m spaced grid lines.  At two of the anomalies blue quartz boulders with sulphide minerals similar to that at Tombreen were noted and collected for analysis.  Results are expected within three weeks. 

A further anomaly was centred around historic finds of gold bearing quartz grading up to 4.1g/t found by RTZ (Rio Tinto Zinc Corp) in the 1980s.  Two further anomalies extending south of the sample area will be followed up.  Further soil sampling will aim to expand and define these areas.  One of the anomalies trends in the same orientation as the Tombreen soil anomaly announced in July 2019 and is of a similar size.  Selected soil samples from within this main target will be analysed for gold.

John Teeling commented "Initial results from our ongoing work at Mine River are promising.  Sampling, every 20m, using a new technique has, to date, verified two new areas of mineralisation.  Ongoing analysis is expected to identify additional areas.  The next steps are to drill and/or trench the anomalies."

This announcement has been reviewed and approved by Gavin Berkenheger (CGeol) in his capacity as the Qualified Person for the purposes of the AIM Guidance Note for Mining, Oil and Gas Companies issued by the London Stock Exchange.

Market Abuse Regulation (MAR) Disclosure

Certain information contained in this announcement would have been deemed inside information for the purposes of Article 7 of Regulation (EU) No 596/2014 until the release of this announcement.

ENDS

Enquiries:

Arkle Resources PLC
John Teeling, Chairman	[phone]
Jim Finn, Finance Director	[phone]
SP Angel Corporate Finance LLP Nominated Adviser & Joint Broker
Matthew Johnson/Soltan Tagiev	[phone]
First Equity Limited
Joint Broker
Jason Robertson	[phone]
Blytheweigh	[phone]
Megan Ray
Rachael Brooks
Teneo
Luke Hogg	[phone]
Thomas Shorthall	[phone]

 

END

 

 

MSCUKUKRRNUKRRR