UK-listed Arkle Resources says its maiden drilling programme in Namibia has identified an extensive uranium system at its Erongo project, with laboratory results expected within the next 20 days to determine the next phase of exploration.
The AIM-listed explorer said in its interim results for the six months ended 30 June 2026 that it drilled approximately 2,900 metres after bringing forward its first reverse circulation programme from the original schedule.
The drilling targeted uraniferous leucogranite, or ULG, mineralisation on Exclusive Prospecting Licence 8995, one of four Namibian licences Arkle acquired at the beginning of this year.
Chief executive Rory Harding said the programme had been completed well ahead of schedule and that an “extensive ULG style uranium system” was emerging from the work.
“The immediate focus is on the assay results: the trench sampling results were announced on 14 September 2026 and the drilling results are expected within the next 20 days,” Harding said.
He said the results would determine the next phase of exploration across the company’s Erongo licences.
Arkle completed the acquisition of an 85% interest in Namibia Uranium (Pty) Ltd in January, giving it exposure to four EPLs covering a combined 540 square kilometres in Namibia’s Erongo uranium province.
The company funded the transaction and exploration programme through an oversubscribed £1.7 million placing and subscription.
Arkle said it completed its Phase 1 exploration programme ahead of schedule, including airborne and ground geophysical surveys, downhole logging of historical drillholes, and trenching.
That work identified targets representing two styles of uranium mineralisation – palaeochannel-hosted uranium and uranium-bearing leucogranites.
The findings prompted Arkle to accelerate its maiden RC drilling campaign on EPL 8995, with the drill rig mobilised to the site on 29 June.
The programme was subsequently completed after the reporting period, with about 2,900 metres drilled.
Arkle said the drilling identified an extensive uranium system associated with the ULG target. The company described this as the same broad deposit style associated with major uranium deposits in the Erongo region.
The company has not yet disclosed uranium grades from the drilling, meaning the significance of the mineralisation encountered will depend on the pending laboratory assays.
Arkle plans further geophysical work, geological mapping and sampling across EPLs 8290, 8298 and 8995 as it develops additional drilling targets.
The company said results from the current drilling programme would help determine where to concentrate the next phase of work.
Its Namibian portfolio lies within the broader Erongo uranium province, which hosts established uranium deposits and projects including Rössing, Trekkopje and Marenica.
Arkle’s expansion into Namibia represented a significant shift in the company’s portfolio, which had previously been concentrated largely on exploration projects in Ireland.
The company said it ended June with €1.069 million in cash, although its current cash position has since declined to about €650,000.
Arkle nevertheless said the remaining funds were sufficient to cover its currently planned exploration programmes.
The company reported a loss of €947,000 for the six months to June, compared with €116,000 during the corresponding period in 2025. The latest loss included a €455,000 non-cash share-option charge.
Harding said the company’s existing work programmes were fully funded and that Arkle expected continued exploration news during the remainder of the year.
