Arkle Res Share News (ARK)

(Sharecast News) - Arkle announced the start of a reconnaissance prospecting programme in the recently-acquired Aughrim block of licences in Aughrim, County Wicklow, on Wednesday.

The AIM-traded firm said the new block comprised four prospecting licences, covering an area of more than 150 square kilometres.

It said the programme's primary objective was to explore lithium-bearing pegmatites, particularly those in the contiguous ground west of International Lithium-Ganfeng's holdings.

Initial compilation work uncovered multiple new exploration targets currently undergoing ground investigations.

The selection of the targets was based on stream sediment geochemical pathfinder elements and available geophysical data, including magnetics and radiometric data.

Ten priority target areas were identified within the Aughrim Block out of 27 prospective areas.

Notably, unmapped granite bodies were identified within the Aughrim Block, associated with the Leinster granite, known for its high prospectivity for lithium, caesium and tantalum (LCT) pegmatites.

LCT pegmatites are commonly found near the Leinster Granite intrusion and are often linked with the East Carlow Deformation Zone (ECDZ) in Ireland - part of which the Aughrim Block encompasses.

The firm said the Aughrim Block's strategic location, adjacent to the Mine River block to the south and IMC Exploration Group's Avoca gold deposit to the east, also made it highly prospective for gold exploration.

Numerous occurrences of alluvial and bedrock gold had been documented within the block, which would be subject to further investigation.

Additionally, historical copper workings were observed within the Aughrim Block, with further exploration efforts to be undertaken to assess the copper prospect.

Arkle noted that open file data suggested the previously reported copper lode had never been assayed for copper content.

"Prospecting has begun on our four new lithium licences where we have identified ten potential targets," said chairman John Teeling.

"The new Aughrim block is an exciting addition to the company's portfolio - the main target is lithium, but we also have good indications of copper, tungsten and gold.

"Current work will aim to narrow down our initial targets to key areas for follow up work aiming at defining drill sites."

Reporting by Josh White for Sharecast.com.