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LONDON (Alliance News) - Arc Minerals Ltd said Tuesday it intersected "extensive" copper cobalt mineralisation at its Kalaba prospect, part of the Zamsort project in Zambia.
The company said it intersected mineralisation in all four holes drilled.
The company has now completed 19 diamond drill holes at the project, it said.
"I am very pleased with these excellent initial assay results of the drilling programme. These early results from reverse circulation drilling clearly demonstrate the large tonnage and commercial grade potential of the Kalaba prospect.
"The results from these first four holes present encouraging copper and cobalt mineralisation with intercepts starting from surface. Our updated geological model is indicating that the potential resource at Kalaba may be significantly larger than we had anticipated."
Arc Minerals shares were trading down 4.7% at 4.72 pence each.
