(Alliance News) - Arkle Resources PLC, formerly called Connemara Mining Co PLC, said Tuesday that it has identified a new gold target at the company's 100% owned Inishowen Gold Project.
The Irish gold and zinc exploration company said the highly prospective target is at a intersection between newly identified shear zone and Glentogher Fault. The target lies between Arkle's Meeneragh gold discovery drill site and the historic Glentogher Lead-Silver mine, the company added.
Arkle Chief Executive Officer Patrick Cullen said: "Arkle's 2016-17 drilling intersected high grade gold at Meeneragh which establishes the Glentogher Fault as a fertile structure. We believe that the base metal mineralisation at Glentogher is related to the same fault. Our recent fieldwork has identified a previously unknown structure which intersects the Glentogher Fault 3 kilometres northwest of Meeneragh. This is now a priority target."
Arkle's 100% owned Inishowen Project is located on the Inishowen peninsula in County Donegal, Ireland. It comprises two licences that are considered by Arkle to be highly prospective for mesothermal, vein-hosted gold mineralisation.
London-listed shares in Arkle were up 6.0% at 0.98 pence each on Tuesday afternoon.
Arkle Res (ARK)