24th Jul 2019 14:10
(Alliance News) - Arkle Resources PLC on Wednesday said it has secured an "encouraging" results from recent surface soil sampling at its 100% owned Mine River gold project.
The Irish gold and zinc exploration and development company said it has identified a "significant" new gold anomaly of 850 meters in extent.
"The results of this initial trial of a new soil sampling approach are very encouraging," said Chief Executive Patrick Cullen.
"The data is better than what we have had to work with in the past: it is higher resolution and demonstrates strongly coherent anomalies as well as confirming the presence of significant concentrations of gold in soil," added Cullen.
Arkle said it has begun trialling a new approach to target delineation called multi-element fine fraction analysis. The method requires the collection of small samples which allows for increased productivity during field sampling, the company explained.
This new data is assisting in the development of an improved mineralisation model, Arkle said, and the identification of targets and associated structures.
Arkle shares were trading 8.9% higher on Wednesday in London at 1.09 pence each.
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