Arkle Resources PLC Update on Mine River Drilling (1232C)
June 16 2021 - 6:15AM
UK Regulatory
TIDMARK
RNS Number : 1232C
Arkle Resources PLC
16 June 2021
16 June 2021
Arkle Resources PLC
("Arkle" or the "Company")
Update on Mine River Drilling
- Second and third drillholes at Tombreen West intersect gold
- Five intersections, best 7.77 g/t from 18.65 to 19.10 metres
- Visible gold observed in core from the fourth hole on the main Tombreen area
Arkle Resources (AIM: ARK) is pleased to announce results from
the second and third holes of the 12 hole diamond drilling
programme being undertaken at the Company's 100% owned Mine River
Gold Project in Wicklow / Wexford. The drilling programme is fully
funded and included in the 2021 budget.
The first three holes are located in a new area, Tombreen West,
approximately 750 metres west of the known 2017 Tombreen gold
discovery and are each spaced 50 metres apart and drilled to a
depth of approximately 100 metres. Results from the second and
third holes (21-TB-06 and 21-TB-07) revealed further gold bearing
intersections along trend. Below are the highlights:
-- Hole 21-TB-06 1.08g/t Au from 17.20 to 18.20m
-- Hole 21-TB-06 2.62g/t Au from 20.10 to 21.10m
-- Hole 21-TB-06 0.45g/t Au from 65.00 to 66.00m
-- Hole 21-TB-07 7.77g/t Au from 18.65 to 19.10m
-- Hole 21-TB-07 3.54g/t Au from 56.30 to 56.90m
The results revealed further gold bearing blue quartz and quartz
veining in shale.
The rig then moved 750 metres toward the main Tombreen target
area, and has completed a 200 metre drill hole, 21-TB-08, where the
high grade 2017 drill hole 17-TB-01 intercepted 8.0 metres at
4.53g/t Au. Observations of the drill core have identified visible
gold at 145.7m, 148.6m and 149.1m. The samples from this hole have
now been sent for urgent analysis for gold and results are expected
within the coming weeks.
The rig has now moved 220 metres west along strike to test the
outer edges of another large gold anomaly extending to the south of
the main Tombreen target.
John Teeling, Chairman commented : "The drilling programme at
Mine River is producing exciting results. Gold has been found in
each of the first three holes in the new Tombreen West area making
it a significant gold target. The rig moved 750 metres toward the
main Tombreen discovery area where a 200 metre hole has been
completed with visible gold detected at three depths. Some 150
samples have been sent for urgent analysis and the results are
eagerly awaited."
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 +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
Ciara Wylie +353 (0) 1 661 4055
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