Arkle Resources PLC Aughrim Exploration Update

RNS Number : 9656A

Arkle Resources PLC

26 January 2024

 

 

26 January 2024

 

Arkle Resources PLC

 

("Arkle" or the "Company")

 

Aughrim Exploration Update

Significant Lithium, Tin, Tungsten, and Rare Earths Findings

 

Arkle Resources PLC (AIM: ARK) is pleased to announce significant findings from its recent prospecting activities in the Aughrim block, Ireland. Arkle's exploration team has identified several targets of interest, highlighted by anomalous discoveries in lithium, gold, tin, tungsten, copper, and rare earth elements.

 

Key Highlights

·    Lithium: analysis revealed anomalous lithium oxide (Li2O) results in rock samples. Notably, up to 0.09% Li2O was detected, with 26 out of 59 samples showing concentrations greater than 0.02% Li2O. Minor spodumene crystals, constituting less than 1% of the total rock mineralogy, were observed in some pegmatite and aplite samples.

·   Beryllium and lithium in pegmatite: one pegmatite sample showed a significant concentration of 0.246% beryllium and 0.03% Li2O, indicating the potential presence of economic beryllium in the block.

·    Ballinglen tin & tungsten target: results from the Ballinglen area revealed 0.028% tin (Sn) and 0.179% tungsten (W), along with an anomalous lithium presence of 0.08% Li2O.

·   Kingston copper working: sampling at the historic Kingston copper site yielded encouraging results. This includes 0.388% copper (Cu), 0.089% lead (Pb), 0.614% zinc (Zn), and minor cobalt at 35.6 parts per million ("ppm").

·   Gold: anomalous gold grades were detected within the block, with findings of 0.74ppm Au hosted within quartz vein float.

·   Rare earth elements: a sample analysis revealed the presence of rare earth elements, including 104ppm cerium (Ce), 27.4ppm dysprosium (Dy), and other significant concentrations. Although not currently economic, the combined rare earths exceeding 0.05% represent an intriguing exploration target.

 

 

 

Next Steps

Arkle is planning further geochemical exploration work to investigate these anomalous areas. The Company remains committed to advancing its exploration programme and unlocking the potential of the Aughrim block.

 

John Teeling, Chairman of Arkle, commented: "We are very encouraged by the recent findings in the Aughrim block, highlighting lithium potential along with gold, tin, tungsten, copper, and rare earth elements. The discovery of anomalous lithium oxide concentrations and identification of spodumene is particularly promising. These results, coupled with the presence of other valuable metals, reinforce the prospectivity of the area and will guide our focused exploration efforts. We are eager to advance to more detailed exploration. The additional prospect of gold in the region adds further excitement to our ongoing analysis."

 

This announcement has been reviewed and approved by Gavin Berkenheger (CGeol) in his capacity as the Qualified Person for the purposes of the AIM Note for Mining, Oil and Gas Companies issued by the London Stock Exchange.

 

This announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) 596/2014 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 ("MAR"), and is disclosed in accordance with the Company's obligations under Article 17 of MAR.

 

Enquiries:

Arkle Resources PLC
John Teeling, Chairman	[phone]
Jim Finn, Finance Director	[phone]
SP Angel Corporate Finance LLP Nominated Adviser & Joint Broker
Matthew Johnson/Adam Cowl/Kasia Brzozowska	[phone]
First Equity Limited
Joint Broker
Jason Robertson	[phone]
BlytheRay	[phone]
Megan Ray
Teneo
Luke Hogg	[phone]
Alan Tyrrell
Fia Long
Alan Reynolds

Information for Editors

Arkle is a diversified exploration company with principal assets in gold, zinc and now lithium exploration licences in Ireland.  The Company currently has two 100% owned gold projects (Mine River and Inishowen) and is in joint venture with Group Eleven Resources Corp. at the Stonepark Zinc Project.

 

 

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