Arkle encounters high-grade gold at Irish project
London-listed Arkle Resources has reported significant results from its diamond drilling programme at the Mine River gold project, in Wicklow/Wexford, Ireland, with a high-grade sample of 51.6 g/t.
This encounter, in Hole 7, is an “extraordinary find” for the Mine River project.
“This is a spectacular result from Hole 7 in the Tombreen Main anomaly. The 51.6 g/t is the highest we have ever discovered in Mine River. This hole is about 42 m south-west of Hole 4, which returned 9.11 g/t over 0.5 of a metre,” says chairperson John Teeling.
Hole 8, which is located 900 m to the west of Hole 8, is complete and core samples have been sent for analysis at the laboratory. This hole has been dubbed ‘Tombreen West Deep’.
To the south of the Tombreen Main target, is drill hole 9, which has just been completed within the middle of a previously untested gold soil anomaly.
“While awaiting laboratory analysis I can report good indications in Holes 8 and 9. The targets are an extension of the gold zone and to look for gold veins between 50 m and 200 m. Visual observation shows the mineralisation we are looking for both above and below 100 m. The core is in the laboratory,” says Teeling.
Owing to the good results from these three areas, Arkle is undertaking a trenching programme on two additional anomalies to the south of Tombreen West and south-west of Tombreen Main.
The announcement, released to the stock exchange on Friday, sent the company’s share price up sharply. Although down from the 1.20p a share it fetched on Friday, Arkle still traded at 0.94p a share on Monday – up 20% in the past five days.
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