(Alliance News) - Arkle Resources PLC has discovered previously unknown geological features at the Stonepark zinc project in Ireland, it said on Wednesday.
The company said a geological airborne survey at the project, in County Limerick, has shown up previously unknown and prospective geology.
The features are likely buried volcanic centres or intrusions, Arkle said, and were found to the south-west of the project.
Chief Executive Patrick Cullen said: "Our partners continue to build evidence supporting new and exciting exploration targets to the south of the project along the 'Pallas Green Corridor'.
"Very few exploratory holes have been drilled through the cover rocks that lie above these targets. We expect further holes to be drilled in the vicinity of Kilteely, where we had exciting drilling results earlier this year. The detail visible in the new data will assist with refining these decisions."
"In addition, new features, which appear to be buried intrusives, have been identified in the south west of the project. These are prospective targets. We look forward to further updates," Cullen continued."
Arkle, which owns 23% of the project alongside Group Eleven Resources Corp, was trading 21% higher on Wednesday afternoon in London at 1.39 pence a share.
By George Collard; georgecollard@alliancenews.com
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Arkle Res (ARK)