Arc Minerals shares rise on 'excellent' results from Cheyeza

(Sharecast News) - Zambia-focussed copper exploration and development company Arc Minerals announced additional near surface, high grade copper assays from its maiden diamond drill exploration programme at the Cheyeza East target in Zambia on Wednesday.
The AIM-traded firm said hole CHDDE060 intersected 1.47% copper, over 39 metres from 13 metres, including 2.25% copper over 10 metres from 41 metres.

CHDDE057, meanwhile, intersected 1.78% copper over 21.5 metres from 29 metres, including 2.84% copper over 11 metres from 34 metres.

Finally, CHDDE059 intersected 0.76% copper over 24 metres from 15 metres, including 1.70% copper over 7.5 metres from 23 metres.

"These are excellent results - some of the best to date," said Arc Minerals executive chairman Nick von Schirnding.

"The intercepts, which are on the south eastern edge of the original high grade zone, extend further than we originally thought and is still open to the north west and south east."

Von Schirnding said that as a result of the "very strong results", the company would be reevaluating its options around the drill programme at Cheyeza, to assess how extensive that could be.

"These recent results are eliciting further interest from 3rd parties and discussions are ongoing.

"I look forward to updating shareholders on further developments."

At 1625 GMt, shares in Arc Minerals were up 15.6% at 2.89p.