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Arkle Resources PLC - Drilling begins at Stonepark Zinc Project

RNS Number : 6355Y
Arkle Resources PLC
10 September 2020
 

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

 

 

John Teeling, Chairman

  +353 (0) 1 833 2833

 

Jim Finn, Finance Director

+353 (0) 1 833 2833

 

 

 

 

SP Angel Corporate Finance LLP
Nominated Adviser & Joint Broker

 

 

Matthew Johnson/Soltan Tagiev

  +44 (0) 203 470 0470

 

 

 

 

First Equity Limited

 

 

Joint Broker

 

 

Jason Robertson

  +44 (0) 207 374 2212

 

 

 

 

Blytheweigh

  +44 (0) 207 138 3204

 

Megan Ray

 

 

Rachael Brooks

 

 

 

 

 

Teneo

 

Luke Hogg

  +353 (0) 1 661 4055

 

Thomas Shorthall

  +353 (0) 1 661 4055

 

 

 

 

       

 

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