Arkle Resources PLC Exploration Update on Arkle Gold Projects (8267D)
November 02 2020 - 1:00AM
UK Regulatory
TIDMARK
RNS Number : 8267D
Arkle Resources PLC
02 November 2020
2nd November 2020
Arkle Resources PLC
Please follow link to full announcement including Figures:
http://www.rns-pdf.londonstockexchange.com/rns/8267D_1-2020-10-30.pdf
Exploration Update on Arkle Gold Projects
Arkle Resources PLC (LON: ARK), the Irish gold and zinc
exploration and development company, is pleased to provide an
update on the Company's wholly owned Mine River and Inishowen gold
projects in Ireland.
Exploration in Donegal identifies new gold targets
The Company is pleased to announce positive results from the
extended soil sampling programme at the Inishowen gold project in
County Donegal, Ireland. A programme for trenching and drilling is
planned to commence shortly.
The results of the soil sampling at Inishowen (Figure 1 and 2)
have identified new areas with similar geochemical signatures to
the known Meeneragh gold discovery previously made by Arkle.
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 803 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 exhibits and are in parts
per million (ppm).
Figure 1 (Zinc Value Indicator)
Figure 2 (Lead Value Indicator)
Trenching commences on identified gold targets in Wexford /
Wicklow
The Company is also pleased to announce that trenching has
commenced on our Mine River Gold Project located on the Wicklow /
Wexford county border. Arkle geologists are currently undertaking a
trenching programme at 10 sites, previously identified as having
gold indicator anomalies. The trenching work aims to identify new
gold bearing structures and to retrieve structural and geochemical
information before drilling takes place. This work follows on from
the extensive soil sampling programme conducted during the past 2
years over the gold trend.
John Teeling, Arkle Chairman, commented:
"We are pleased to have received positive results from our
Donegal gold exploration. Strong gold indicators were discovered in
a number of areas.
These results are encouraging and we have a programme of
trenching and drilling planned which will begin shortly.
In addition, following extensive soil sampling already carried
out, we have also commenced trenching multiple gold targets
previously identified on our Mine River licence in Wexford /
Wicklow."
Competent Person Statement
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 +353 (0) 1 833 2833
Jim Finn, Finance Director +353 (0) 1 833 2833
SP Angel Corporate Finance LLP
Nominated Adviser & Joint Broker
Matthew Johnson/Adam Cowl +44 (0) 203 470 0470
First Equity Limited
Joint Broker
Jason Robertson +44 (0) 207 374 2212
Blytheweigh +44 (0) 207 138 3204
Megan Ray
Rachael Brooks
Teneo
Luke Hogg +353 (0) 1 661 4055
Ross Murphy +353 (0) 1 661 4055
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