(Alliance News) - Arc Minerals Ltd on Thursday said significant copper mineralisation has been found at Cheyeza East in Zambia in a maiden drilling programme.
The exploration and development company has completed the first two holes at Cheyeza East, with visible copper mineralization intersected in both holes.
The Cheyeza target area was one of several areas identified by both the geophysics and geochemistry work programmes completed by Arc Minerals last year.
Looking ahead, the company said drilling is continuing at Cheyeza East to test its full extent, both along strike and down dip.
"This has been a very satisfactory start to our drilling campaign in Zambia and I am pleased to see that the anomaly identified by the detailed geophysics and geochemistry completed last year has produced results," said Executive Chair Nick von Schirnding.
"The drill cores have now been sent for assay and we expect results imminently," added von Schirnding.
Arc Minerals shares were trading 8.1% higher on Thursday afternoon at 2.54 pence each in London.
Arc Minerals (ARCM)