Arkle Resources PLC Prospecting Begins on Lithium Exploration Ground (4498T)

TIDMARK

RNS Number : 4498T

Arkle Resources PLC

15 November 2023

15 November 2023

Arkle Resources PLC

("Arkle" or the "Company")

Prospecting Begins on New Lithium Exploration Ground

   --    Prospecting begins on new lithium exploration ground in Aughrim, Ireland 
   --    Ten Targets Identified 

Arkle (AIM: ARK) is pleased to announce the start of a reconnaissance prospecting programme in their newly acquired Aughrim block of licences. The new block consists of four (4) prospecting licences centred around Aughrim, County Wicklow (the "Block") covering over 150km(2) . The main target is lithium bearing pegmatites which have been located in contiguous ground to the west of ground held by International Lithium Corp - Ganfeng Lithium Co. Ltd.

Compilation work has revealed multiple new targets which are currently being followed up with ground investigations. The targets were chosen using stream sediment geochemical pathfinder elements and available geophysical data - magnetics and radiometric. In total ten (10) priority target areas have been identified amongst a total of 27 prospective areas within the Block.

Unmapped granite bodies have been noted within the Block, these granitic bodies are related to the Leinster granite which is highly prospective for LCT (lithium, caesium, tantalum) pegmatites. LCT pegmatites are found proximal to the Leinster Granite intrusion and are most often associated with the East Carlow Deformation Zone (ECDZ) in Ireland, of which a portion of the Aughrim Block captures.

Being contiguous to the Mine River block to the south as well as IMC Exploration Group's Avoca gold deposit to the east the new ground is also highly prospective for gold. Multiple alluvial and bedrock occurrences of gold are known within the Block which will also be investigated.

Old copper workings have also been noted within the Block. Further work will be conducted to evaluate this prospect as well. Open file data suggest the old reported copper lode has never been assayed for copper.

John Teeling, Chairman of Arkle, commented : "Prospecting has begun on our four new lithium licences where we have identified ten potential targets. The new Aughrim block is an exciting addition to the Company's portfolio. The main target is lithium but we also have good indications of copper, tungsten and gold. Current work will aim to narrow down our initial targets to key areas for follow up work aiming at defining drill sites."

Background

The Aughrim Block is proximal to the known lithium bearing Leinster Granite in the east and contiguous to International Lithium Corp. - Ganfeng Lithium Co. Ltd joint venture where a large zone of lithium bearing pegmatites and aplites has been discovered. Historic exploration dates back to the 1970s for gold, silver and base metals. Despite the ground's proximity to the granite there has been little to no exploration for lithium.

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            [phone] 
 
First Equity Limited 
Joint Broker 
Jason Robertson                      [phone] 
 
BlytheRay                            [phone] 
Megan Ray 
 
Teneo 
Luke Hogg                            [phone] 
 
 
 

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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November 15, 2023 02:00 ET (07:00 GMT)