The company told Mining Journal the name 'Arkle' was taken from the Irish race horse who won three Cheltenham gold cups in a row.
It said it believed the name change would highlight that it no longer focuses purely on zinc assets, but on both gold and zinc exploration and development across Ireland.
The name change will be proposed at an extraordinary general meeting on March 12.
Connemara's nomad and joint-broker SP Angel said Arkle, the eponymous racehorse, enjoyed an "illustrious" career during the 1960s, also winning the Hennessy gold cup twice.
"Perhaps the name change augurs particularly well for the company's continuing gold exploration programmes in Wicklow, Wexford and in Donegal," it said.