TIDMARK

RNS Number : 1342I

Arkle Resources PLC

10 December 2020

10 December 2020

Arkle Resources PLC

("Arkle" or the "Company")

Operational Update

- Trenching has begun at Arkle's 100% owned Inishowen project in Donegal in a bid to expand the gold veins first discovered in 2016

- Reanalysis of a visible gold sample from the Mine River project identifies higher grade up to 7.34g/t within a 50g ore grade sample, with an overall average of 6.39g/t compared to 5.5g/t in the earlier analysis

- Completion of drilling by Group Eleven at the Stonepark zinc project with results expected in January 2021

John Teeling, Chairman, commented. "I am delighted to report that we have begun trenching on our Donegal gold project. The objective is to locate new gold veins. There is further good news from our Mine River gold project as more detailed analysis from the recent trenching programme has increased the grade of a significant sample from 5.5g/t to an average of 6.39g/t gold on 30g and 50g representative crushed samples. The next step, in early 2021 is drilling on both projects."

Arkle Resources (AIM:ARK) is pleased to announce the commencement of a trenching programme at their wholly owned Inishowen project. Eight trenching locations have been identified from the recent soil sampling survey surrounding the Meeneragh Target in Inishowen where 5.48m at 4.8g/t gold was intercepted during early drilling. The objective of the trenching programme is to find new outcrops of gold.

At Mine River, further to the announcement on 26 November 2020, the sample showing the most significant gold grades (5.5g/t) was reanalysed by ALS Laboratories using the 'Ore Grade' fire assay technique to establish if the previously quoted grade was truly representative of the overall sample. Two analysis were conducted using a 30g and 50g representative sample. The results were 6.35g/t and 7.34g/t respectively. Along with the previous result of 5.5g/t, this gives an average grade of the vein that was sampled as 6.39g/t gold.

The Company has been informed by Group Eleven Resources Corp. ("Group Eleven"), that drilling at the Stonepark zinc project, Arkle (23.44%) and Group Eleven (76.56%) has recently completed and that results from this programme are expected in January 2021.

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

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.

END

UPDUPGQGPUPUGMB

(END) Dow Jones Newswires

December 10, 2020 02:00 ET (07:00 GMT)

Arkle Resources (LSE:ARK)
Historical Stock Chart
From Mar 2024 to Apr 2024 Click Here for more Arkle Resources Charts.
Arkle Resources (LSE:ARK)
Historical Stock Chart
From Apr 2023 to Apr 2024 Click Here for more Arkle Resources Charts.