(Alliance News) - Arc Minerals Ltd on Wednesday reported high grade results from its maiden drill programme at the Cheyeza target area in Zambia.
The mineral exploration company said CHDDE005, or Hole 5, intersected 28.50 metres at 1.32% copper from 18.6 metres to 47.10 metres depth. Drill hole CHDDE004, or Hole 4, have shown some significantly higher copper grades which are in the process of being further verified, the company added.
Drill hole CHDDE005 was drilled approximately 200 metres south along the perceived strike from drill hole CHDDE002 that intersected 1.05% copper over 25 metres from 2 metres depth.
Arc Minerals said CHDDE005 drill hole confirms the continuity of the mineralization along strike and provides confidence that drilling supports the results from the soil geochemistry completed over the target area.
Shares in Arc Minerals were 0.9% lower at 4.60 pence each on Wednesday afternoon.
Arc Minerals (ARCM)