Arkle Resources PLC New Prospective Features Identified at Stonepark (2958T)
13 Novembre 2019 - 2:00PM
UK Regulatory
TIDMARK
RNS Number : 2958T
Arkle Resources PLC
13 November 2019
13 November 2019
This announcement contains inside information for the purposes
of Article 7 of Regulation (EU) 596/2014.
Arkle Resources PLC
("Arkle" or the "Company")
New Prospective Features Identified at Stonepark
Newly released Tellus airborne geophysical survey data
identifies new geological features and adds significant refinement
to established targets
Arkle Resources PLC (LON: ARK), the Irish gold and zinc
exploration and development company, is pleased to announce that
preliminary analysis of data from the Geological Survey of
Ireland's 'Tellus' airborne geophysical survey has revealed
previously unknown and prospective geological features at the
Company's Stonepark Zinc Project. Preliminary analysis has been
undertaken by joint venture partner Group Eleven Resources Corp.
("Group Eleven"). Arkle holds a 23.44% interest in the Stonepark
Zinc Project.
Highlights
- The Limerick Volcanic cover rocks are shown in much clearer
detail than on any previous survey
- The key exploration concept the 'Pallas Green Corridor' and
cross-fault north of Kilteely is better refined
- New and prospective features, likely representing buried
volcanic centres or intrusions, have been identified in the south
west of the project
Patrick Cullen, Chief Executive Officer of Arkle, commented,
"Our partners continue to build evidence supporting new and
exciting exploration targets to the south of the project along the
'Pallas Green Corridor'.
"Very few exploratory holes have been drilled through the cover
rocks that lie above these targets. We expect further holes to be
drilled in the vicinity of Kilteely, where we had exciting drilling
results earlier this year. The detail visible in the new data will
assist with refining these decisions.
"In addition, new features, which appear to be buried
intrusives, have been identified in the south west of the project.
These are prospective targets. We look forward to further
updates."
Further Information
An image of the magnetic data from the survey is available here.
A link to the Group Eleven announcement can be found here.
Overview of Stonepark Zinc Project
The Stonepark Zinc Project is a joint venture with Group Eleven
in County Limerick, contains a maiden Inferred Mineral Resource
totalling 5.1 million tonnes at 11.3% zinc and lead combined (8.7%
Zn and 2.6% Pb), occurring at depths from 190m to 395m below
surface. The project lies adjacent to Glencore's Pallas Green
deposit which contains 45.1 million tonnes at 8% zinc and lead
combined (Glencore; Resources and Reserves as at 31 December
2018).
Competent Person
This announcement has been reviewed and approved by Gavin
Berkenheger (CGeol), who has sufficient experience relevant to the
style of mineralisation under consideration and to the activities
undertaken to qualify as Qualified Person for the purposes of the
AIM Note for Mining, Oil and Gas Companies issued by the London
Stock Exchange.
Information for Editors
Arkle is a diversified exploration company with principal assets
in gold and zinc exploration licences across Ireland. The Company
currently has two 100% owned gold projects (Mine River and
Inishowen) and is in joint venture with Teck Ireland Ltd. at the
Oldcastle Zinc Project and with Group Eleven Resources Corp. at the
Stonepark Zinc Project.
ENDS
Enquiries:
Arkle Resources PLC
John Teeling, Chairman +353 (0) 1 833 2833
Patrick Cullen, CEO +353 (0) 87 272 1748
+44 (0) 755 237 8208
SP Angel Corporate Finance
LLP (Nominated Adviser and
Joint Broker)
Matthew Johnson/Soltan Tagiev +44 (0) 203 470 0470
First Equity Limited
Jason Robertson +44 (0) 207 374 2212
Blytheweigh +44 (0) 207 138 3204
Megan Ray
Jane Lenton
Teneo
Luke Hogg +353 (0) 1 661 4055
Alan Tyrrell +353 (0) 1 661 4055
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END
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