Arkle to start new gold drilling at Inishowen

30th Nov 2023 14:03

(Sharecast News) - Arkle Resources announced an upcoming drilling programme in Inishowen, County Donegal, on Thursday, which is set to start this week.

The AIM-traded firm said the initiative would serve as a follow-up to previous work conducted at the Meeneragh target, and was primarily aimed at evaluating the primary gold-bearing outcrop.

Four drill holes were planned, originating from two drill pads at angles of minus 45 and minus 70 degrees.

The campaign's primary focus would be to assess the main vein target uncovered during earlier investigations.

Arkle said the previously discovered vein yielded notable results, with intercepts of 3.05 metres at 5.8 grams of gold per tonne and 4.82 metres at 5.48 grams per tonne.

The board said the upcoming drilling would endeavour to intercept the vein at various depths and along its strike to ascertain its continuity.

Arkle said additional drill holes were possible, pending the outcome of initial results.

"It is good to get back on the ground again at Inishowen," said chairman John Teeling.

"This new round of drilling will test to see if we can trace the main vein along strike and at depth.

"We found high-grade gold in the area, and we now aim to expand this."

At 1135 GMT, shares in Arkle Resources were down 10.67% at 0.4p.

Reporting by Josh White for Sharecast.com.