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Arkle Resources bounces as it identifies new prospect features at Stonepark project

The AIM-listed firm said the data had better refined a key exploration concept at the site, the ‘Pallas Green Corridor

Arkle Resources PLC - Arkle Resources bounces as it identifies new prospect features at Stonepark project
Stonepark is one of Arkle's zinc-focused projects

Arkle Resources PLC (LON:ARK) shares climbed higher on Wednesday after new prospect features were identified following a geophysical survey at the Stonepark zinc project in Ireland, in which it holds a 23.44% stake.

The AIM-listed firm said the data had better refined a key exploration concept at the site, the ‘Pallas Green Corridor’, as well as a cross fault at Kilteely.

WATCH: Arkle Resources' Stonepark zinc project gets boost from Glencore investment

New and prospective features, likely representing buried volcanic centres or intrusions, have also been identified in the south west of the project, while the Limerick Volcanic cover rocks were now shown in “much clearer detail” than in previous surveys.

"Our partners continue to build evidence supporting new and exciting exploration targets to the south of the project along the 'Pallas Green Corridor’”, said Arkle chief executive Patrick Cullen.

He added that more holes were expected to be drilled in the vicinity of Kilteely, where “exciting drill results” had been received earlier this year.

“In addition, new features, which appear to be buried intrusives, have been identified in the south west of the project. These are prospective targets. We look forward to further updates", Cullen said.

In mid-afternoon trading, Arkle’s shares were 17% higher at 1.3p.

Quick facts: Arkle Resources PLC

Price: 1.35 GBX

AIM:ARK
Market: AIM
Market Cap: £1.79 m
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