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viewArkle Resources PLC

Arkle Resources focused on two fronts in Ireland

Snapshot

  • Arkle owns stakes in various exploration projects in Ireland
  • Its two main zinc projects are joint ventures: Stonepark with Group Eleven and Oldcastle with Teck Resources
  • Stonepark, the largest undeveloped zinc deposit in Ireland, recently attracted investment from mining giant Glencore
  • Two gold projects are at Mine River in Wicklow/Wexford, and Inishowen in Donegal
Dalradian Resources - Arkle Resources focused on two fronts in Ireland

Quick facts: Arkle Resources PLC

Price: 1 GBX

AIM:ARK
Market: AIM
Market Cap: £2.95 m
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What it owns

Zinc

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.

Gold

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 half year period with €252,000 in cash. However, a further £600,000 was raised in August, covering expenses for the next 18 months.

After that, Arkle got down to some serious exploration work on its Inishowen and Mine River gold properties, the results of which were released in November, and which were highly encouraging.

From the chairman, John Teeling

“The lifeblood of a mineral exploration company is exploration,” said chairman John Teeling.“

We are pleased to have received positive results from our Donegal gold exploration. Strong gold indicators were discovered in a number of areas. These results are encouraging and we have a programme of trenching and drilling planned which will begin shortly. In addition, following extensive soil sampling already carried out, we have also commenced trenching multiple gold targets previously identified on our Mine River licence in Wexford/Wicklow."

 

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