Arkle Resources PLC (LSE:ARK) has expanded its maiden reverse circulation drilling programme at the Erongo Uranium Project in Namibia after visually identifying carnotite in several drill holes, marking an encouraging step in the company’s initial exploration campaign.
The programme has now completed 52 drill holes covering 1,017 metres across paleochannel targets within Exclusive Prospecting Licence (EPL) 8995. The drilling follows Phase 1 geophysical surveys that outlined targets associated with both paleochannel-hosted uranium deposits and uranium-bearing leucogranite (ULG), allowing Arkle to evaluate two distinct styles of uranium mineralisation across the project area.
Carnotite, the primary uranium-bearing mineral commonly associated with shallow uranium deposits in the region, has been observed in drill chips from three shallow holes. While the visual identification is considered encouraging, laboratory analysis will be required to determine uranium grades and confirm the significance of the mineralisation.
Strong operational progress has enabled the company to expand the current drilling programme. Additional work will include step-out drilling along the eastern paleochannel, an initial fence of holes across the western paleochannel and the first reconnaissance drilling of the project’s main ULG target. Gamma-ray spectrometry will be used to prioritise which of the 1,016 collected samples are submitted for laboratory testing, with assay results expected in early September.
Although exploration activity continues to advance, the company’s broader outlook remains constrained by the absence of revenue, ongoing operating losses and continued cash burn. Technical indicators present a mixed picture, with longer-term trends proving more resilient than recent momentum, while valuation remains limited by the company’s loss-making position and lack of a dividend.
More about Arkle Resources PLC
Arkle Resources PLC is a London-listed exploration company focused on uranium and other energy metals. Its principal uranium asset is the Erongo Uranium Project in Namibia, where the company is targeting both shallow paleochannel-hosted uranium deposits and uranium-bearing leucogranite mineralisation within the prolific Erongo uranium province.
Exploration is centred on Exclusive Prospecting Licence EPL8995, where geophysical surveys have identified multiple priority drill targets. Arkle’s strategy is to rapidly assess these prospects through reverse circulation drilling and complementary exploration work, with the objective of defining economically significant uranium mineralisation across the licence area.
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