Last checked at 10 Sep 2020 13:00
10th September 2020
Arkle Resources PLC
("Arkle" or the "Company")
Drilling begins at Stonepark Zinc Project
Arkle Resources (AIM:ARK), the Irish Gold and Zinc resources discovery company, is pleased to announce that drilling has commenced on their Stonepark zinc project ("Stonepark" or the "Project"). Stonepark is a joint venture between Arkle (23.44%) and Group Eleven Resources Corp. ("Group 11") (76.56%). Group 11 is the operator of the Project. Below is an excerpt from the press announcement made by Group 11 today.
Highlights:
· Drill program at Stonepark consists of two step-out holes, planned to total approximately 810 metres (360 metres and 450 metres, respectively)
· Holes will test extensions of the Stonepark Mineral Resource Estimate ("MRE")
· Stonepark MRE totals 5.1 million tonnes grading 8.7% zinc and 2.6% lead (11.3% combined) in the Inferred Category, located approximately one kilometre west of the Pallas Green zinc-lead deposit, with inferred resources of 45.4 million tonnes of 7% Zinc and 1% Lead.
The Stonepark project is located in the Limerick basin, in south-western Ireland (see Exhibit 1). Stonepark is adjacent to Group 11's 100% interest PG West project (which hosts the Carrickittle zinc prospect) and Glencore's Pallas Green project (which hosts the Pallas Green zinc-lead deposit).
John Teeling, Chairman and CEO, commented, "This is good news for shareholders. We are very well positioned in the emerging zinc province in the Limerick basin. These targeted holes are expected to grow the existing 5 million plus tonne resource."
Link to Exhibit 1. Location of the Stonepark Zinc Project (and adjacent PG West Project), south-west Ireland
http://www.rns-pdf.londonstockexchange.com/rns/6355Y_1-2020-9-10.pdf
Market Abuse Regulation (MAR) Disclosure
Certain information contained in this announcement would have been deemed inside information for the purposes of Article 7 of Regulation (EU) No 596/2014 until the release of this announcement.
ENDS
Enquiries:
Arkle Resources PLC |
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John Teeling, Chairman | +353 (0) 1 833 2833 |
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Jim Finn, Finance Director | +353 (0) 1 833 2833 |
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SP Angel Corporate Finance LLPNominated Adviser & Joint Broker |
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Matthew Johnson/Soltan Tagiev | +44 (0) 203 470 0470 |
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First Equity Limited |
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Joint Broker |
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Jason Robertson | +44 (0) 207 374 2212 |
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Blytheweigh | +44 (0) 207 138 3204 |
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Megan Ray |
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Rachael Brooks |
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Teneo |
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Luke Hogg | +353 (0) 1 661 4055 |
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Thomas Shorthall | +353 (0) 1 661 4055 |
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