Update at Mine River

RNS Number : 3285T

Arkle Resources PLC

24 November 2021

 

24 November 2021

Arkle Resources PLC

("Arkle" or the "Company")

Update at Mine River

Arkle Resources plc (AIM: ARK) announces further results from its recent exploration programme at Mine River on the Wexford/Wicklow border in Ireland.

Highlights:

· Tombreen target has now grown to a 1.5km long, 750 metres wide gold corridor

· Trenching has discovered gold in rock at two new locations

· Further drilling finds gold at Tombreen, Tombreen West and soil anomaly A

· Trenching of the B and C soil anomalies has identified further gold mineralisation

· Results of trenching include 2.15g/t Au and 1.47g/t Au in blue quartz

· Drilling at Tombreen West identified 0.5 metres at 2.58g/t Au from 119.9 metres

· Drill testing of soil anomaly A identified 0.5 metres at 0.9g/t Au from 143.5 metres

· Step out hole at Tombreen identified 2.0 metres @ 1.24g/t Au from 188 metres

· Drilling has now ceased for 2021.  Results from the last hole are expected within the coming weeks

Trenching was undertaken at soil anomaly B and C located South of Tombreen West.  An excavator dug down to approximately 1.0-1.5 metres depth in a straight line perpendicular to the anomalous trend.  Bedrock was discovered in each trench and orientations were obtained.  Observations confirmed an approximate 50 degree strike of the bedrock in Anomaly C which would link up 750 metres north-eastwards to Tombreen West.

Rock obtained from the trenches which exhibited elevated gold were considered to be sub crop and were roughly 3kg grab samples.  Trenches 1 and 2 were orientated over soil anomaly C and identified 1.47g/t Au and 0.83g/t Au respectively in blue quartz and oxidised shale.  Trenches 3 and 4 were orientated over soil anomaly B and identified 2.15g/t Au and 0.5g/t Au respectively in blue quartz.

Results from drill hole 21-TB-12 at Tombreen West discovered 0.5 metres @ 2.58g/t Au at 119.9 metres.  Drill results from hole 21-TB-13 discovered 0.5 metres @ 0.9g/t Au and hole 21-TB-14 retrieved 0.5 metres at 0.19g/t Au.  21-TB-13 and 21-TB-14 were both drilled within soil anomaly A south of Tombreen Main.  Results from hole 21-TB-15 included 1 metre at 0.92g/t Au from 180.6 metres and 2.0 metres at 1.24g/t Au from 188 metres.  21-TB-15 was a step out hole from 21-TB-11 which intercepted 0.5 metres at 51.6g/t Au from 37.50 metres.  Results from 21-TB-16 remain outstanding.  Below is a table of highlights from the recent drilling.

Hole ID	From (metres)	To (metres)	Width (metres)	Au g/t
21-TB-12	95.10	95.60	0.50	0.59
21-TB-12	119.90	120.40	0.50	2.58
21-TB-12	169.60	170.10	0.50	0.78
21-TB-13	83.50	84.00	0.50	0.54
21-TB-13	134.00	134.50	0.50	0.22
21-TB-13	136.00	137.00	0.50	0.17
21-TB-13	143.50	144.00	0.50	0.90
21-TB-13	160.50	161.00	0.50	0.10
21-TB-13	162.80	163.30	0.50	0.12
21-TB-14	70.50	71.50	1.00	0.11
21-TB-14	110.00	110.50	0.50	0.19
21-TB-15	180.60	181.60	1.00	0.92
including	180.60	181.10	0.50	1.47
21-TB-15	186.00	186.50	0.50	1.02
21-TB-15	188.00	190.00	2.00	1.24
including	188.00	188.50	0.50	2.53
21-TB-15	192.80	193.30	0.50	0.49

Exploration has finished for the season and results from the programme will now be assessed to decide follow up action.

John Teeling, Chairman commented : "The Tombreen target continues to grow in size.  Gold has been discovered in new areas along strike and at depth.  Recent drilling has hit gold but not at the high grade of hole 21-TB-11 which contained 51.6g/t gold over 0.5 metres.

"Drilling has ceased for 2021 with the last results due in the coming weeks. We will now analyse and evaluate what we have found. The gold system at Tombreen is big and has multiple narrow veins.  The gold is "nuggety", making it very hard to get consistent drilling results."

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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