Granting of new lithium exploration ground

Arkle Resources PLC

25 October 2023

 

25 October 2023

Arkle Resources PLC

("Arkle" or the "Company")

Granting of new lithium exploration ground

Arkle (AIM: ARK) is delighted to announce it has been granted a new lithium exploration block north of its Mine River Block in Wicklow/Wexford in Ireland. The new block consists of four prospecting licences for lithium, rare earth elements and other minerals, including gold and platinum. The licences cost a total of €3,000 and Arkle is required to spend a minimum of €10,000 in exploration costs on each licence over the next 24 months. The ground is contiguous with the International Lithium Corp - Gangfeng Lithium Co. Ltd joint venture to the west, where a large zone of lithium bearing pegmatites has been discovered associated with the Leinster Granite Pegmatite Belt. The Directors believe this new ground is fertile for lithium deposits. 

Licence number	Area (m³)
415	28.42
3029	32.23
1716	37.36
2053	29.27

New lithium prospecting licences in Ireland

John Teeling, Chairman of Arkle, commented: "I am delighted that Arkle has been awarded four licences in Wicklow to prospect for lithium, rare earths and gold, among other minerals. It has long been known that the Leinster granites contain lithium in pegmatites, but little serious exploration has been undertaken. We identified this ground after earlier prospecting by Arkle on our existing licences indicated their prospectivity. It is prime ground which has never been explored for lithium. We will be on the ground in the near future."

Background

The Aughrim Block is proximal to the known lithium bearing Leinster Granites in the east and contiguous to International Lithium Corp. - Ganfeng Lithium Co. Ltd joint venture where a large zone of lithium bearing pegmatites and aplites has been discovered. Historic exploration dates back to the 1970s for gold, silver and base metals. Despite the ground's proximity to the granites there has been little to no exploration for lithium. 

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.

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]
BlytheRay
Megan Ray	[phone]
Teneo
Luke Hogg	[phone]

Information for Editors

Arkle is a diversified exploration company with principal assets in gold, zinc and now lithium exploration licences in Ireland. The Company currently has two 100% owned gold projects (Mine River and Inishowen) and is in joint venture with Group Eleven Resources Corp. at the Stonepark Zinc Project.

 

END