Update on Mine River Drilling

RNS Number : 1232C

Arkle Resources PLC

16 June 2021

 

16 June 2021

Arkle Resources PLC

("Arkle" or the "Company")

Update on Mine River Drilling

-  Second and third drillholes at Tombreen West intersect gold

-  Five intersections, best 7.77 g/t from 18.65 to 19.10 metres

-  Visible gold observed in core from the fourth hole on the main Tombreen area

Arkle Resources (AIM: ARK) is pleased to announce results from the second and third holes of the 12 hole diamond drilling programme being undertaken at the Company's 100% owned Mine River Gold Project in Wicklow / Wexford. The drilling programme is fully funded and included in the 2021 budget.

The first three holes are located in a new area, Tombreen West, approximately 750 metres west of the known 2017 Tombreen gold discovery and are each spaced 50 metres apart and drilled to a depth of approximately 100 metres. Results from the second and third holes (21-TB-06 and 21-TB-07) revealed further gold bearing intersections along trend. Below are the highlights:

· Hole 21-TB-06 1.08g/t Au from 17.20 to 18.20m

· Hole 21-TB-06 2.62g/t Au from 20.10 to 21.10m

· Hole 21-TB-06 0.45g/t Au from 65.00 to 66.00m

· Hole 21-TB-07 7.77g/t Au from 18.65 to 19.10m

· Hole 21-TB-07 3.54g/t Au from 56.30 to 56.90m

The results revealed further gold bearing blue quartz and quartz veining in shale.

The rig then moved 750 metres toward the main Tombreen target area, and has completed a 200 metre drill hole, 21-TB-08, where the high grade 2017 drill hole 17-TB-01 intercepted 8.0 metres at 4.53g/t Au. Observations of the drill core have identified visible gold at 145.7m, 148.6m and 149.1m.  The samples from this hole have now been sent for urgent analysis for gold and results are expected within the coming weeks.

The rig has now moved 220 metres west along strike to test the outer edges of another large gold anomaly extending to the south of the main Tombreen target.

John Teeling, Chairman commented : "The drilling programme at Mine River is producing exciting results. Gold has been found in each of the first three holes in the new Tombreen West area making it a significant gold target. The rig moved 750 metres toward the main Tombreen discovery area where a 200 metre hole has been completed with visible gold detected at three depths. Some 150 samples have been sent for urgent analysis and the results are eagerly awaited."

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	[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]
Blytheweigh	[phone]
Megan Ray
Rachael Brooks
Teneo
Luke Hogg	[phone]
Ciara Wylie	[phone]

 

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