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0.70 0.125 (21.74%)

Bid:

0.65

Ask:

0.75

Spread: 0.10 (15.385%)

Market Cap: £17.22m

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Arc Minerals Making Good Progress On Kalaba Prospect Drilling Work

Wed, 01st Aug 2018 11:47

LONDON (Alliance News) - Arc Minerals Ltd said on Wednesday drilling at its Kalaba prospect on the Zamsort copper-cobalt project has continued to find visible mineralisation.

Arc is carrying out an 11,000 metres drilling programme at Kalaba, in Zambia, and it has so far completed five holes totalling 875 metres.

It is currently drilling holes six and seven, and core logging and sample preparation are underway. Further, Arc has finished a ground penetrating radar trial survey.

Executive Chairman Nick von Schirnding said: "The drilling programme at the Kalaba prospect is progressing well."

"Even though we are still at an early stage in the programme and the first few holes drilled are intended to test the geological framework at Kalaba, visible copper-cobalt mineralisation has been reported."

He added: "The mineralised core from these holes are currently being prepared to be cut, sampled and sent to a laboratory for analysis. We will announce the first results from these mineralised cores as they become available."

Shares in Arc were 4% lower on Wednesday at a price of 4.80 pence each.