Arkle Resources says prospecting in Ireland continues

(Alliance News) - Arkle Resources PLC on Monday reported the possibility of "stronger mineralisation" at an asset in Ireland.

Shares in the Dublin-based mining company, focused metals and rare earth minerals in Ireland, Botswana and Zimbabwe, closed up 23% at 0.40 pence each on Monday in London. The stock was unmoved early Tuesday.

Stonepark is a joint venture between Arkle and Group Eleven Resources Corp, whose stakes are around 22% and 78% respectively.

Arkle noted Group Eleven's drilling at three holes in Stonepark's Carrickittle West licence, where a mass of breccia was found. This is a type of broken rock made of sharp fragments, and can be an indicator of ore.

The rock is "close to stronger mineralisation", Arkle said, thus further drilling will continue.

Group Eleven tested rock samples from Carricklittle and found similarities with other samples mined at the site, where zinc and lead were present. Drilling cut into a limestone deposit, indicating strong hydrothermal fluid flows and proximity to a fault, indicating more drilling is needed.

Chief Executive of Group Eleven Bart Jaworski said that sphalerite in the area suggested the company may be close to locating high-grade deposits.

Group Eleven expects to drill one more hole at the site in 2025, and more in 2026. Arkle can either fund its share of future exploration, or dilute its stake in Stonepark.

"The recent drilling has strengthened the view that the Kilteely anomaly, mainly on the Carrickittle West Stonepark licence is a highly prospective target for base metals," commented Arkle's Chair John Teeling.

By Holly Munks, Alliance News reporter

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