(Sharecast News) - Arkle Resources announced significant findings from its recent prospecting activities in the Aughrim block in Ireland on Friday.
The AIM-traded company said its exploration team identified multiple targets of interest, with anomalous discoveries in lithium, gold, tin, tungsten, copper, and rare earth elements.
In the lithium category, analysis of rock samples revealed anomalous lithium oxide results, with up to 0.09% lithium oxide detected with 26 out of 59 samples showing concentrations greater than 0.02%.
Some pegmatite and aplite samples also showed minor spodumene crystals, making up less than 1% of the total rock mineralogy.
Additionally, a pegmatite sample exhibited a significant concentration of 0.246% beryllium and 0.03% lithium oxide, suggesting the potential presence of economically viable beryllium in the area.
In the Ballinglen tin and tungsten target region, results revealed 0.028% tin and 0.179% tungsten, along with an anomalous lithium presence of 0.08% lithium oxide.
Sampling at the historic Kingston copper site yielded encouraging results, including 0.388% copper, 0.089% lead, 0.614% zinc, and minor cobalt at 35.6 parts per million.
Arkle said its exploration efforts also detected anomalous gold grades within the Aughrim block, with findings of 0.74 parts of gold per million hosted within quartz vein float.
Furthermore, the firm's sample analysis unveiled the presence of rare earth elements, including 104 parts of cerium per million, 27.4 parts of dysprosium per million, and other significant concentrations.
Although not currently economically viable, the combined rare earths exceeding 0.05% represented an intriguing exploration target, the board said.
Arkle Resources said it planned to conduct further geochemical exploration work to investigate the anomalous areas.
The company said it remained committed to advancing its exploration programme and unlocking the potential of the Aughrim block.
"We are very encouraged by the recent findings in the Aughrim block, highlighting lithium potential along with gold, tin, tungsten, copper, and rare earth elements," said chairman John Teeling.
"The discovery of anomalous lithium oxide concentrations and identification of spodumene is particularly promising."
Teeling said those results, coupled with the presence of other valuable metals, reinforced the prospectivity of the area and would guide its focussed exploration efforts.
"We are eager to advance to more detailed exploration.
"The additional prospect of gold in the region adds further excitement to our ongoing analysis."
At 1125 GMT, shares in Arkle Resources were up 6.25% at 0.43p.
Reporting by Josh White for Sharecast.com.
Arkle Res (ARK)