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Arkle Resources PLC - Ireland-based gold and zinc explorer - Discovers ‘significant’ zinc target at Stonepark licence block in Ireland.
Stonepark is a joint venture between Arkle, which has a 23.4% interest, and Group Eleven Resources Corp, which holds a 76.6% interest and is the operator.
Says hole G11-1253-01 sees a vertical displacement of the fault of at least 150 metres from 544 metres and hole G11-450-03 intersects a ‘thick package’ of extensive brecciation and pyrite.
‘The results may point to a large and compelling zinc target a few hundred metres to the north of hole G11-450-03,’ it adds.
The third hole, G11-2638-06 returned 6.0 metres of 0.63% zinc and lead, starting at 409 metres including 0.15 metres of 10.6% zinc and lead, 0.25 metres of 3.73% zinc and lead, as well as a number of other lower grade intervals.
Chair John Teeling says: ‘This is the first time that drilling at Stonepark has found the fault system which is a vital part of Irish zinc discoveries. It is very big with traces of zinc. This might well be the best target discovered on the block. It needs to be drilled and will be.’
Current stock price: 0.90 pence, up 23% on Thursday
12-month change: down 0.6%
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