Arkle Resources PLC Operational Update (1342I)
December 10 2020 - 2:00AM
UK Regulatory
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
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