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0.775 -0.025 (-3.13%)

Bid:

0.70

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0.85

Spread: 0.15 (21.429%)

Market Cap: £12.36m

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Arkle Resources makes solid progress across operations

Thu, 10th Dec 2020 09:56

(Sharecast News) - Arkle Resources updated the market on its operations on Thursday, reporting that trenching had started at its 100%-owned Inishowen project in Donegal, in a bid to expand the gold veins first discovered in 2016.
The AIM-traded firm also said that reanalysis of a visible gold sample from the Mine River project had identified a higher grade of up to 7.34 grams per tonne within a 50 gram ore grade sample, with an overall average of 6.39 grams per tonne, compared to 5.5 grams per tonne in the earlier analysis.

It also confirmed the completion of drilling by Group Eleven at the Stonepark zinc project, with results from that expected in January.

"I am delighted to report that we have begun trenching on our Donegal gold project," said chairman John Teeling.

"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."

Teeling said the next step, in early 2021, was drilling on both projects.

At 1200 GMT, shares in Arkle Resources were down 11.37% at 1.13p.