Arkle Resources PLC Significant Zinc Target Discovered (1447P)
16 Junho 2022 - 7:00AM
UK Regulatory
TIDMARK
RNS Number : 1447P
Arkle Resources PLC
16 June 2022
16 June 2022
Arkle Resources PLC
("Arkle" or the "Company")
Significant Zinc Target Discovered during Stonepark Drilling
Arkle Resources plc (AIM: ARK) is pleased to provide an update
on drilling progress at its Stonepark licence block. Stonepark with
an inferred resource of 5.1 million tonnes of 8.7% zinc and 2.6%
lead (11.3% combined) is a joint venture between Arkle which has a
23.44% interest and Group Eleven Resources Corp. ("Group Eleven")
which has a 76.56% interest. Group Eleven is the operator. Today's
Group Eleven detailed press release on the Stonepark drilling can
be viewed by following this link:
http://www.groupelevenresources.com/news/news/2022/
Highlights:
-- A major fault structure has been discovered in the
drilling.
-- Hole G11-1253-01 showed a vertical displacement of the fault
of at least 150 metres from 544 metres.
-- Hole G11-450-03 intersected a thick package of extensive
brecciation and pyrite.
-- Holes G11-450-03 and G11-1253-01 are 3.7km apart.
-- The results may point to a large and compelling zinc target a
few hundred metres to the north of hole G11-450-03.
-- The third hole, G11-2638-06, was drilled as a 150m step-out
from the historic drilling near the Stonepark West portion of the
Stonepark MRE (mineral resource estimate) and returned 6.0m of
0.626% Zn+Pb, starting at 409m including 0.15m of 10.62% Zn+Pb,
0.25m of 3.73% Zn+Pb, as well as, a number of other lower grade
intervals.
John Teeling commented: "This is the first time that drilling at
Stonepark has found the fault system which is a vital part of Irish
zinc discoveries. It is very big with traces of zinc. This might
well be the best target discovered on the block. It needs to be
drilled and will be. I strongly encourage shareholders to look at
the detailed results provided by Group Eleven in the link
above."
Details
Two holes out of the three drilled so far of the six hole
drilling programme being undertaken by Group Eleven have identified
substantial structures that are typically associated with large
scale zinc deposits in Ireland. The intense pyrite-mineralised
breccia is similar to that found 5-10km away associated with the
Pallas Green zinc deposit. The major fault that cuts the
Waulsortian limestone will be the focus of future exploration as
these structures are highly prospective in Irish Style Zinc
deposits.
The current six hole, 2,300-metre drill hole programme is 82%
complete. The first two holes were located in an area of the
Stonepark block almost totally undrilled, with the third hole near
the Stonepark resource. The holes completed so far were drilled to
depths of 650m (Hole G11-450-03), 642m (Hole G11-2531-01) and 519m
(Hole G11-2638-06).
Summary of Best Results from Recent Drilling at Stonepark
Project, Ireland
Zn +
Hole ID From To Interval Zn Pb Pb
m m m % % %
------- ------- --------- ------- ------ -------
G11-2531-01 539.13 540.10 0.97 0.142 0.027 0.169
------- ------- --------- ------- ------ -------
" 540.10 541.28 1.18 0.094 0.020 0.114
------- ------- --------- ------- ------ -------
" 541.28 542.03 0.75 0.102 0.005 0.106
------- ------- --------- ------- ------ -------
" 542.03 542.57 0.54 0.172 0.005 0.177
------- ------- --------- ------- ------ -------
Total 539.13 542.57 3.44 0.121 0.016 0.137
------- ------- --------- ------- ------ -------
and 590.85 591.04 0.19 0.556 0.002 0.558
------- ------- --------- ------- ------ -------
G11-2638-06 409.15 415.15 6.00 0.625 0.001 0.626
------- ------- --------- ------- ------ -------
Incl. 409.15 409.40 0.25 3.720 0.005 3.725
------- ------- --------- ------- ------ -------
Incl. 414.60 414.75 0.15 10.600 0.015 10.615
------- ------- --------- ------- ------ -------
and 422.30 423.20 0.90 0.142 0.011 0.153
------- ------- --------- ------- ------ -------
and 425.80 426.20 0.40 0.677 0.002 0.679
------- ------- --------- ------- ------ -------
Hole G11-450-03 did not yield any significant zinc or lead
intervals.
The remaining three holes of the programme will be drilled after
Group Eleven completes its ongoing drilling on their adjacent
licences and will be testing other key regional targets at
Stonepark.
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
BlytheRay +44 (0) 207 138 3204
Megan Ray
Rachael Brooks
Teneo
Luke Hogg +353 (0) 1 661 4055
Ciara Wylie +353 (0) 1 661 4055
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 Group Eleven Resources
Corp. at the Stonepark Zinc Project.
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END
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