Arkle Res Share News (ARK)

(Sharecast News) - Arkle Resources has secured two exploration licences for lithium brine prospecting in the expansive Makgadikgadi Salt Pans of northeast Botswana, it announced on Friday.

The AIM-traded company said the licences PL 075/2023 and PL 0148/2023 encompass 312 and 525 square kilometres, respectively.

It said the newly acquired licences marked an essential step for the firm in its pursuit of lithium resources.

The Makgadikgadi Salt Pans, known for their vast expanse, remained relatively unexplored for lithium brines.

As a result, the company was gearing up for early-stage prospecting activities in early 2024.

It said its prospecting efforts aimed to uncover the potential for lithium brines within the region, where little information existed.

"We are really pleased to have been awarded these two large licences in the Makgadikgadi Salt Pans," said chairman John Teeling.

"We now have three lithium exploration projects, one in Ireland, one in Zimbabwe, both hard rock, and now in Botswana, which is a lithium brines project.

"Initial work will focus on analysis of the very limited exploration data, followed by prospecting to identify targets for drilling."

At 1035 GMT, shares in Arkle Resources were up 8.57% at 0.38p.

Reporting by Josh White for Sharecast.com.