What it owns
Stonepark - Arkle Resources owns 23.44% of the Stonepark Zinc Project.
Toronto-listed partner Group Eleven Resources Corp (CVE:ZNG) has defined a maiden Independent NI43-101 Inferred Resource of 5.1 Mt grading 11.3% combined zinc and lead, making it the second largest undeveloped zinc and lead Resource in Ireland after Glencore’s Pallas Green.
Stonepark lies to the west adjacent to Pallas Green, but at shallower depths.
Oldcastle - Arkle has a joint venture with Teck Ireland at Oldcastle in counties Cavan and Meath. Teck has earned in 75%, Arkle owns the remaining 25%.
Derrykearn - The Derrykearn Project consists of five licences in total, five contiguous licences in County Laois.
Ladyswell - Two contiguous licences, PL4504 and PL4505, in West Cork, south of Clonakilty.
Mine River - Arkle holds a block of eight licences (340 sq km) that cover an area of known gold mineralisation which extends along a trend of some 15 kilometres.
Further work to develop the existing gold targets is ongoing and fieldwork re-commenced in 2019.
Inishowen - The Inishowen gold project is located in County Donegal, Ireland.
These licences are considered by Arkle Resources to be highly prospective for mesothermal gold mineralisation similar to that found at the Curraghinalt Project developed by Dalradian Resources.
Arkle Resources is the first company to drill for gold in the area.
In September, Arkle announced a new gold target at Inishowen between the Meeneragh gold discovery drill site and the historic Glentogher lead-silver mine.
What's the latest?
Arkle raised £250,000 in May to keep it going, as the coronavirus crisis continued.
The company subsequently turned in a loss of €220,000 for the six months to June 2020.
The company closed out the period with €252,000 in cash. However, a further £600,000 was raised in August, covering expenses for the next 18 months.
From the chairman, John Teeling
“The lifeblood of a mineral exploration company is exploration,” said chairman John Teeling.
“Currently we are drilling our zinc discovery in Stonepark, Limerick, completing a tightly spaced soil sampling programme on our Glentogher gold licence in Donegal and preparing to trench our Mine River gold licences in Wicklow after completing an extensive soil sampling programme and analysing the results.”