(Alliance News) - Arc Minerals Ltd on Wednesday reported "excellent results" from the company's copper exploration programme at the Cheyeza East target in Zambia.
Arc Minerals said that hole CHDDE060 found 1.47% copper over 39 metres from 13 metres, hole CHDDE057 found 1.78% copper over 21.50 metres from 29 metres, and hole CHDDE059 found 0.7% copper over 24 metres from 15 metres.
The reports state that the sites in which high grade copper were found are on the south-eastern edge of the high-grade zone originally selected for drilling and open further out to the north west and south east.
Executive Chair Nick von Schirnding said: "As a result of these very strong results we will be re-evaluating our options in regard to the drill programme at Cheyeza to assess how extensive this could be."
London-based shares in the copper exploration company were 16% higher at 2.89 pence each.
By Ife Taiwo; ifetaiwo@alliancenews.com
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Arc Minerals (ARCM)