Arkle Resources begins strategic review on Limerick prospect

Explorer suggested it has had ‘significant interest’ in the prospect

Photograph: iStock

Photograph: iStock

 

Exploration company Arkle Resources, formally known as Connemara Mining, has had “significant interest” in one of its key assets, prompting it to begin a strategic review of the prospect based in Co Limerick.

The company, of which whiskey entrepreneur John Teeling is chairman, said on Monday that “industry participants” expressed interest in its Stonepark zinc project, a joint venture in Co Limerick.

Chief executive Patrick Cullen suggested the interest is as a result of factors including the assets “strategic location adjacent to the far larger Pallas Green zinc-lead deposit”.

Arkle holds a 23.44 per cent stake in the project which lies adjacent to Glencore’s Pallas Green asset.

The gold and zinc explorer rebranded from Connemara Mining in March to better reflect its geographical spread across the Republic. It has two 100 per cent owned gold projects - Mine River and Inishowen - and is in a joint venture at the Cavan and Meath-based Oldcastle zinc project and the Stonepark zinc project.