Arc Minerals Share News (ARCM)

(Sharecast News) - Zambia-focussed copper exploration and development company Arc Minerals announced further near-surface, wide intersections of copper mineralisation with high-grade intercepts from its maiden diamond drill exploration programme at the Cheyeza East target on Wednesday.
The AIM-traded firm said hole CHDDE058 intersected 68.75 metres at 0.61% copper from 7.5 metres, including 1.14% copper over eight metres from 11.5 metres, 1.09% copper over three metres from 41.5 metres, and 1.14% copper over 11.5 metres from 61.5 metres.

Hole CHDDE061 intersected 26.5 metres at 0.99% copper from 18.5 metres, including 1.63% copper over 9.5 metres from 35.5 metres.

Finally, hole CHDDE062 intersected 33 metres at 0.71% copper from 18 metres, including 0.92% copper over 4.5 metres from 23.5 metres, and 1.44% copper over 8.5 metres from 42.5 metres.

"These are another set of excellent drilling results - this 68.75m copper intersection is the widest interval of continuous copper mineralisation ever intersected at Cheyeza East," said executive chairman Nick von Schirnding.

"This set of drill results also reports a significant number of high-grade intercepts of over 1%.

"Given the commencement of the rainy season the current drilling programme has come to an end and will be restarted shortly after the wet season ends."

In the meantime, von Schirnding said work had started on the exploration strategy for the year ahead, as well as options for processing the near surface higher grade material as it had previously outlined.

"Results for further assays are also awaited including those for additional targets and we look forward to releasing these in the near term."

At 1516 GMT, shares in Arc Minerals were flat at 3.22p.