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Arkle Resources PLC - Ireland-based gold and zinc explorer - Notes its joint venture partner Group Eleven Resources Corp's update on the drilling programme at the Stonepark project in Limerick, Ireland. Says Group Eleven have started planning a follow-up drill hole several hundred metres north of drill hole G-11-2531-01 reported in June this year. ‘This is the Carrickittle West hole which was drilled to 642 metres and the target is a significant sized zinc deposit,’ it notes. Says a further three holes will be drilled beginning in September.
Group Eleven Resources Corp holds a 77% interest in the Stonepark project, and Arkle holds the remaining 23%.
Arkle Chair John Teeling says: ‘Progress is being made in exploring the Stonepark block. The Carrickittle West hole discovered a major fault structure with significant vertical displacement. These structures are highly prospective in Irish style zinc deposits.’
Current stock price: 0.79 pence, down 4.6% on Tuesday in London
12-month change: up 0.9%
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