Drilling Update on the Stonepark Zinc Project
Arkle's drilling partner completed 1,372 metres at Stonepark; Arkle's stake diluted to 22.36% after declining to fund its share.
- Drilling metres at Stonepark 1,372 metres
- Arkle interest in Stonepark before dilution 23.44%
- Arkle interest in Stonepark after dilution 22.36%
- Group Eleven interest in Stonepark 77.64%
Select text to share a quote on X · sign in to keep highlights & notes in your ARK notes
Arkle Resources PLC (AIM:ARK), has been informed by its partner and operator at Stonepark, Group Eleven Resources Corp ("Group Eleven"), that the recent drilling programme is complete. Three holes totalling 1,372 metres were drilled across the southern part of the Stonepark block.
The drilling by Group Eleven is part of a larger ongoing drilling campaign focused mainly on the Carrickittle and Ballywire licences adjacent to Stonepark, both of which are owned by Group Eleven.
The drill holes are being analysed, and results will be announced in due course.
Arkle has decided not to finance its share of this drilling campaign from its cash resources. As a result, Arkle's interest in the Stonepark project is expected to reduce from 23.44% to 22.36%, with Group Eleven holding the remaining balance of 77.64%.
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.