Shares surge for Irish company following the discovery of lithium in Wicklow

Shares at Arkle Resources PLC , an Irish based firm who specialise in the exploration of gold and zinc, have increased by 41% last week. The jump comes on foot of the news that Arkle have found lithium bearing pegmatites at its Wicklow site.

Although pegmatite isn’t classified as a gemstone, it is made up of crystals of widely varying sizes. Formations can often be found to be over 1m in length. With the high demand currently for lithium, this represents a ‘gem’ of a find for Arkle.

It’s close proximity to Leinster Granite Pegmatite Belt meant that there was always a high likelihood of lithium-bearing pegmatites being located. However, the extensive cost and complexity of mining for this particular rare element don’t always allow for explorations to come to fruition.

“This is a positive development for the Mine River Project. We have some compelling indications that lithium bearing pegmatites may be present within the block. While our focus to date has been on gold it is long known that indications of lithium were present,”

“The successful discoveries on licences close to our ground and the massive demand for lithium to drive the electric vehicle revolution led to this review. It is early days but positive news.” John Teeling, Chairman Arkle Resources

Arkle Resources holds a block of five licences (213.5 square kilometres) having acquired the licences from their Joint Venture partner, Hendricks in late 2017. The 15km stretch is an area of known gold mineralisation. The specific area of the licences was identified using a variety of methods including airborne geophysical surveys, geochemical surveys of streams and historical sampling data as explained by Consultant Geologist at the time, Gavin Berkenheger. Out of the five target areas investigated, four were found to have pegmatite rock boulders.

Lithium Arkle

The site which sits just outside Woodenbridge in Co.Wicklow is one that has been the subject of interest and intrusion by treasure hunters for more than 300 years now, with records dating back to 1720 showing mining activity in the area. The area came to be more widely known during the ‘Wicklow Gold Rush of 1795’. Legend has it that the largest reported nugget found here was 22 oz in weight and was gifted to King George III in 1796. Whether it was intended to be gifted remains unclear.

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