Positive Results from Soil Sampling at Inishowen

RNS Number : 1401A

Arkle Resources PLC

25 September 2020

 

25 September 2020

Arkle Resources PLC

("Arkle" or the "Company")

Positive Results from Soil Sampling at Inishowen Gold Project

· New prospective area to the Southwest discovered

· Programme to identify drill targets to commence immediately on the new prospective area

Arkle Resources (AIM:ARK) is pleased to announce positive results from soil sampling at their wholly owned Inishowen gold project in County Donegal, Ireland. A programme to identify drill targets will commence immediately.

The results indicate a northwest to southeast trend, with higher levels of gold indicator minerals extending to a previously unknown area to the southwest limit of the sampling area (Exhibit 1). The programme also picked out the surface expression of the gold veins found in previous drilling campaigns.

The soil sampling was conducted every 20 metres on 100 metre spaced lines over the area around Meeneragh , which is known to contain gold.  A total of 356 samples were collected. Each sample weighed roughly 120g each and was obtained between 10 and 20cm below the surface. The Olympus Delta Standard XRF unit was used to assay the soil samples.  QA/QC involved duplicate samples every 50 with unit calibration every 20. The gold indicators used were zinc and lead as determined from the previous rock and drill results.  Grades can be observed in the attached exhibit and are in parts per million (ppm).

Further soil sampling to pinpoint trench or drillhole locations in the newly identified area will begin immediately.

John Teeling, Chairman and CEO, commented, "These are positive results. The sampling revealed a northwest to southeast trend and highlighted previously unknown areas toward the southwest. An immediate programme is commencing on the southwest to identify drill targets. This should be completed by year end."

Link to Exhibit 1:  http://www.rns-pdf.londonstockexchange.com/rns/1401A_1-2020-9-25.pdf

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.

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]
Ross Murphy	[phone]

 

END

 

 

DRLMZGZLRKRGGZG