Arkle Resources PLC Update at Mine River (3285T)
November 24 2021 - 12:59AM
UK Regulatory
TIDMARK
RNS Number : 3285T
Arkle Resources PLC
24 November 2021
24 November 2021
Arkle Resources PLC
("Arkle" or the "Company")
Update at Mine River
Arkle Resources plc (AIM: ARK) announces further results from
its recent exploration programme at Mine River on the
Wexford/Wicklow border in Ireland.
Highlights:
-- Tombreen target has now grown to a 1.5km long, 750 metres wide gold corridor
-- Trenching has discovered gold in rock at two new locations
-- Further drilling finds gold at Tombreen, Tombreen West and soil anomaly A
-- Trenching of the B and C soil anomalies has identified further gold mineralisation
-- Results of trenching include 2.15g/t Au and 1.47g/t Au in blue quartz
-- Drilling at Tombreen West identified 0.5 metres at 2.58g/t Au from 119.9 metres
-- Drill testing of soil anomaly A identified 0.5 metres at 0.9g/t Au from 143.5 metres
-- Step out hole at Tombreen identified 2.0 metres @ 1.24g/t Au from 188 metres
-- Drilling has now ceased for 2021. Results from the last hole
are expected within the coming weeks
Trenching was undertaken at soil anomaly B and C located South
of Tombreen West. An excavator dug down to approximately 1.0-1.5
metres depth in a straight line perpendicular to the anomalous
trend. Bedrock was discovered in each trench and orientations were
obtained. Observations confirmed an approximate 50 degree strike of
the bedrock in Anomaly C which would link up 750 metres
north-eastwards to Tombreen West.
Rock obtained from the trenches which exhibited elevated gold
were considered to be sub crop and were roughly 3kg grab samples.
Trenches 1 and 2 were orientated over soil anomaly C and identified
1.47g/t Au and 0.83g/t Au respectively in blue quartz and oxidised
shale. Trenches 3 and 4 were orientated over soil anomaly B and
identified 2.15g/t Au and 0.5g/t Au respectively in blue
quartz.
Results from drill hole 21-TB-12 at Tombreen West discovered 0.5
metres @ 2.58g/t Au at 119.9 metres. Drill results from hole
21-TB-13 discovered 0.5 metres @ 0.9g/t Au and hole 21-TB-14
retrieved 0.5 metres at 0.19g/t Au. 21-TB-13 and 21-TB-14 were both
drilled within soil anomaly A south of Tombreen Main. Results from
hole 21-TB-15 included 1 metre at 0.92g/t Au from 180.6 metres and
2.0 metres at 1.24g/t Au from 188 metres. 21-TB-15 was a step out
hole from 21-TB-11 which intercepted 0.5 metres at 51.6g/t Au from
37.50 metres. Results from 21-TB-16 remain outstanding. Below is a
table of highlights from the recent drilling.
Hole ID From (metres) To (metres) Width (metres) Au g/t
21-TB-12 95.10 95.60 0.50 0.59
-------------- ------------ --------------- -------
21-TB-12 119.90 120.40 0.50 2.58
-------------- ------------ --------------- -------
21-TB-12 169.60 170.10 0.50 0.78
-------------- ------------ --------------- -------
21-TB-13 83.50 84.00 0.50 0.54
-------------- ------------ --------------- -------
21-TB-13 134.00 134.50 0.50 0.22
-------------- ------------ --------------- -------
21-TB-13 136.00 137.00 0.50 0.17
-------------- ------------ --------------- -------
21-TB-13 143.50 144.00 0.50 0.90
-------------- ------------ --------------- -------
21-TB-13 160.50 161.00 0.50 0.10
-------------- ------------ --------------- -------
21-TB-13 162.80 163.30 0.50 0.12
-------------- ------------ --------------- -------
21-TB-14 70.50 71.50 1.00 0.11
-------------- ------------ --------------- -------
21-TB-14 110.00 110.50 0.50 0.19
-------------- ------------ --------------- -------
21-TB-15 180.60 181.60 1.00 0.92
-------------- ------------ --------------- -------
including 180.60 181.10 0.50 1.47
-------------- ------------ --------------- -------
21-TB-15 186.00 186.50 0.50 1.02
-------------- ------------ --------------- -------
21-TB-15 188.00 190.00 2.00 1.24
-------------- ------------ --------------- -------
including 188.00 188.50 0.50 2.53
-------------- ------------ --------------- -------
21-TB-15 192.80 193.30 0.50 0.49
-------------- ------------ --------------- -------
Exploration has finished for the season and results from the
programme will now be assessed to decide follow up action.
John Teeling, Chairman commented : "The Tombreen target
continues to grow in size. Gold has been discovered in new areas
along strike and at depth. Recent drilling has hit gold but not at
the high grade of hole 21-TB-11 which contained 51.6g/t gold over
0.5 metres.
"Drilling has ceased for 2021 with the last results due in the
coming weeks. We will now analyse and evaluate what we have found.
The gold system at Tombreen is big and has multiple narrow veins.
The gold is "nuggety", making it very hard to get consistent
drilling results."
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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END
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