Drilling to Begin on Stonepark

RNS Number : 9642Y

Arkle Resources PLC

19 January 2022

 

19 January 2022

Arkle Resources PLC

("Arkle" or the "Company")

Drilling to Begin on Stonepark

Arkle Resources plc (AIM: ARK) is pleased to announce that a six hole, fully funded drilling programme will commence in weeks on the Stonepark block of licences in Limerick, adjacent to the Pallas Green zinc deposit. Arkle's share (23.44%) of the drilling programme is €75,000, with the remaining interest held by Group Eleven Resources Corp. (TSX.V: ZNG) ("Group Eleven").

Highlights:

-  Six hole programme to commence within weeks

-  Total drilling 2,300 metres

-    Two holes (250 metres and 400 metres) will be drilled to seek an extension of the Carrickittle prospect into the Southwest of the Stonepark block

-  One hole will be a 100 metre step-out hole near Stonepark North

-  Three further holes will target earlier stage prospects in the South and East of the block

The programme has three objectives. To extend the Stonepark North zone, to test an extension of the Carrickittle discoveries into the Southeast of the Stonepark block and three holes to test new prospects: two in the East and one in the South of the block, targeting  the Southern margin of the Limerick Volcanic Complex.

Group Eleven, Arkle's partner, is the operator of Stonepark and holds a 76.56% interest in Stonepark. The full Group Eleven announcement will be available on their website at: https://www.groupelevenresources.com/news/

John Teeling, Chairman commented : "Our partner, Group Eleven, has extensively studied the wider geological picture around Stonepark. Their proposed drilling programme reflects this, one step-out hole to seek an extension of the Stonepark North zone, two holes to test an extension from the Group Eleven Carrickittle resource into Stonepark and three exploratory holes on the Stonepark ground, testing new targets on the Limerick Volcanic Complex. These targets are close to the adjacent ground being drilled by South 32 / Adventus.  The objective is to find a mirror image of the large Glencore owned Pallas Green zinc deposit adjacent to Stonepark. The programme will take up to three months to complete."

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]

 

END

 

 

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