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(Alliance News) - Arkle Resources PLC on Wednesday said it has completed drilling on the Inishowen County Donegal gold prospect in Ireland, finding a target vein in all four holes.
The exploration company, with principal assets in Irish gold and zinc exploration licences, said it drilled 220.4 metres across the four holes and has sent analyses with results expected by the end of January.
It said the programme was designed to assess the main gold-bearing outcrop and was successful in the identification of vein bearing structures in all four holes and is a positive indicator of the prospect's potential.
Additional drill holes have been permitted, contingent on the results obtained from this phase of drilling, Arkle Resources said, while the success of the current drilling programme "opens the door for further exploration and potential expansion of the project".
Chair John Teeling said: "It is gratifying to resume exploration activities at Inishowen. The positive results from this drilling campaign have allowed us to trace the main vein along strike and at depth and we are now positioned to expand our understanding of the geological potential in this region."
Shares in Arkle Resources closed down 5.3% to 0.45 pence each in London on Wednesday.
By Greg Rosenvinge, Alliance News senior reporter
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