Arkle Resources PLC High grade gold intersected at Mine River (4555L)
September 10 2021 - 08:50AM
UK Regulatory
TIDMARK
RNS Number : 4555L
Arkle Resources PLC
10 September 2021
10 September 2021
Arkle Resources PLC
("Arkle" or the "Company")
- High grade gold intersected at Mine River; Drilling programme extended
Highlights:
- 2.5m at 12.13g/t gold, including 51.6g/t gold over 0.5m
- Ongoing drilling showing positive indications in subsequent holes
Arkle Resources (AIM: ARK) announces results from its sixth and
seventh drillholes of the diamond drilling programme being
undertaken at the Company's 100% owned Mine River Gold Project in
Wicklow / Wexford. Hole 7, (21-TB-11) was an easterly step out from
the visible gold hole and intercepted multiple gold bearing zones
detailed in the table below. Hole 6 to the west did not return
grades of economic interest suggesting the vein pinched out.
Highlights of Hole 7:
Hole ID From To (metres) Width Au g/t
(metres) (metres)
21-TB-11 34.00 35.50 1.50 1.01
---------- ------------ ---------- -------
21-TB-11 36.50 39.00 2.50 12.13
---------- ------------ ---------- -------
Including 37.50 38.00 0.50 51.60
---------- ------------ ---------- -------
21-TB-11 41.40 42.40 1.00 2.10
---------- ------------ ---------- -------
21-TB-11 57.90 58.90 1.00 1.11
---------- ------------ ---------- -------
21-TB-11 59.60 60.10 0.50 1.02
---------- ------------ ---------- -------
21-TB-11 45.80 46.30 0.50 0.16
---------- ------------ ---------- -------
21-TB-11 74.80 76.30 1.50 0.17
---------- ------------ ---------- -------
21-TB-11 78.10 78.60 0.50 1.90
---------- ------------ ---------- -------
21-TB-11 126.80 127.30 0.50 0.38
---------- ------------ ---------- -------
21-TB-11 202.80 203.30 0.50 0.26
---------- ------------ ---------- -------
Hole 7, was located 42 metres east along strike from Hole 4
(21-TB-08), with blue quartz veins and sulphide noted in the drill
core. The exceptionally high grade sample of 51.6g/t gold is an
extraordinary find for the Mine River project. The area to the east
lies within the heart of a large gold bearing soil anomaly which is
open and untested.
Hole 8 (21-TB-12) which is located 900 metres to the west of
Hole 7 is now complete and core samples have been sent for analysis
at the laboratory. This hole was dubbed 'Tombreen West Deep' after
returning to the location of 21-TB-07 at Tombreen West but drilling
at a steeper angle to gauge grade and width of the gold vein at a
deeper level. Observations of the core confirm that the vein
extends at depth. The target at Tombreen West remains open on all
sides and depth. Core is being analysed.
Drill Hole 9 (21-TB-13) has just been completed is located
within the middle of a previously untested gold soil anomaly
("Untested Anomaly A") to the south of the Tombreen Main target.
Observations of the core so far have identified new blue quartz
veins and mineralisation at multiple intervals. It will be analysed
in the coming weeks.
The positive drill results have led to an extension of the
drilling programme as follows:
- A step out hole will commence immediately on Untested Anomaly A
- Plans are being made to drill two further step out holes to
the east of Hole 7 where the high grades have been discovered
- It has been decided to trench two further new anomalies to the south of Tombreen West
The extended programme is fully funded.
John Teeling, Chairman commented : "This is a spectacular result
from Hole 7 in the Tombreen Main anomaly. The 51.6g/t grade is the
highest we have ever discovered in Mine River. This hole is about
42 metres southwest of Hole 4 which returned 9.11 g/t over 0.5 of a
metre.
"While awaiting laboratory analysis I can report good
indications in Holes 8 and 9. Hole 8 is drilled in Tombreen West
900 metres west of Hole 7. The targets are an extension of the gold
zone and to look for gold veins between 50 and 200 metres. Visual
observation shows the mineralisation we are looking for both above
and below 100 metres. The core is in the laboratory.
"We then moved the rig to Hole 9, an untested anomaly about 350
metres southwest of Hole 7 and about 800 metres southeast of Hole
8. This anomaly showed excellent results from XRF testing. The
recently completed hole shows multiple veins throughout. A step out
hole will be commenced immediately while the core from Hole 9 is
analysed and plans are underway to obtain approval for two holes
directly east of the Hole 7 discovery.
"Because of the good results coming from three areas we are
undertaking a trenching programme on two additional anomalies, B
and C, to the south of Tombreen West and southwest of Tombreen
Main."
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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