Arkle Resources plc’s joint venture partner plans to focus expenditure on the Carrickittle West area in the south of the Stonepark zinc project in County Limerick.
VALUES
Group Eleven Resources Corp’s decision follows a review of prospecting on all seven licences.
The Canadian operator, which is awaiting results from three drill holes completed in January 2025, has also surrendered licences of PL2927 and PL3367.
The licences, located on the western flank of the Stonepark block, do not host the Carrickittle West prospect, said Arkle.
Arkle owns 22.36% of Stonepark while Group Eleven holds 77.64%. Glencore Canada Corp holds a 17.1% interest in Group Eleven.
Group Eleven also operates and owns 100% of the contiguous project of PG West as well as Ballinalack in Co. Westmeath and Silvermines in Co. Tipperary.
At the Ballywire zinc-lead-silver discovery in PG West, the group today confirmed a “flat-lying zone of zinc-rich massive sulphide lenses” measured at least 360m along strike and remained open to the northeast.
Drilling of two holes continues at the site and has to date shown “excellent silver and significant copper values”.
All four projects are within 35 prospecting licences covering more than 1,046 km2.