Pegmatites identified in Mine River Block

RNS Number : 4116H

Arkle Resources PLC

24 November 2022

 

24^th  November 2022

Arkle Resources PLC

("Arkle" or the "Company")

Pegmatites identified in Mine River Block in search for lithium near the

Leinster Granite Pegmatite Belt

Arkle (AIM: ARK) is pleased to announce the discovery of pegmatites in its Mine River Block on the Wexford/Wicklow border in Ireland, in a new search for lithium.  The purpose of the reconnaissance work at Mine River was to establish the presence of granite and any pegmatite and / or aplite rock and to collect specimens for analysis.

The Mine River Block is close to the known lithium-bearing Leinster Granite Pegmatite Belt ("Leinster Granite"), lying to the west and contiguous with the ongoing International Lithium Corp. - Ganfeng Lithium Co. Ltd operation where they have discovered a large zone of lithium-bearing pegmatites and aplites.  The Mine River Block is well positioned for the exploration of lithium-bearing pegmatites due to its close proximity to the eastern margin of the Leinster Granite, which is host to Ireland's lithium pegmatite belt.

The Company is delighted to confirm the presence of all three rock types including granite, pegmatite and aplite within its prospecting licences.  A large body of the Leinster Granite was located in outcrop at Coolboy in the north of the licence block with other smaller bodies found extending south-west to Bunclody.  A total of five target areas were investigated for this initial reconnaissance work.  Pegmatite and aplite rock boulders were identified at four of these five target areas.

Rock chip samples were collected and will be analysed.  The analysis will seek to identify common indicator minerals associated with lithium and will assist in directing future work.

John Teeling, Chairman of Arkle, commented : "This is a positive development for the Mine River Project.  We have found some compelling indications that lithium bearing pegmatites may be present within the block.  While our focus to date has been on gold it is long known that indications of lithium were present. The successful discoveries on licences close to our ground and the massive demand for lithium to drive the electric vehicle revolution led to this review. It is early days but positive news."

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
Rachael Brooks
Teneo
Luke Hogg	[phone]

Information for Editors

Arkle is a diversified exploration company with principal assets in gold and zinc exploration licences across 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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