Arkle Resources (AIM:ARK), the energy metals explorer focused on uranium, said operator Group Eleven Resources has discovered a new zone of zinc-lead mineralisation at the Stonepark project in County Limerick, 550 metres from the existing resource.
Arkle holds an estimated 21.38% interest in Stonepark, subject to cost actuals on the current drilling programme.
Step-out hole 26-2638-07 intersected 2.8 metres grading 8.3% zinc plus lead, including a 1.0 metre section at 21.7% zinc plus lead, within a broader 14.7 metre zone at 2.0%.
Group Eleven described it as the most mineralised of seven step-out holes drilled near the resource since it took operatorship in 2017, and the most significant progress at the project in that time.
The hole sits 150 metres from a mineralised historic hole outside the current resource boundary, which Group Eleven said has drastically improved the potential for resource growth in the area.
The hole was extended to 894 metres to test for copper-silver mineralisation beneath the Waulsortian Limestone, with assays pending.
"This is the most significant drilling result at Stonepark since Group Eleven assumed operatorship in 2017", said Arkle chief executive Rory Harding, adding that the project sits adjacent to Glencore's Pallas Green zinc-lead deposit.
Two more holes are planned in the current 2,700-metre campaign, with follow-up drilling in the new zone likely as part of a larger roughly 12,800-metre programme expected to start in late 2026 or early 2027, subject to Group Eleven board approval.
News Intelligence what this means for the company
Group Eleven, operator of the Stonepark zinc-lead project in which Arkle holds a 21.38% stake, has intersected high-grade mineralisation 550 metres from the existing resource—the most significant result since taking operatorship in 2017. The discovery sits 150 metres from a historic hole outside the current resource boundary, materially improving the case for resource expansion in the area; two more holes are planned in the current campaign, with a larger 12,800-metre programme expected to begin in late 2026 or early 2027.
This is early-stage exploration upside at a non-core asset (Arkle's primary focus is now uranium in Namibia). The result validates the Stonepark project's prospectivity and could support a larger resource definition, but remains subject to Group Eleven board approval and further drilling; Arkle's economic exposure depends on operatorship decisions and future capital deployment by the operator.
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