SP Angle Site Visit Write Up1 Aug 2018 13:19
https://www.uploadlibrary.com/SPAngel_JohnMeyer/SP_Angel_-_Morning_View_-_Wednesday_01.08.18.pdf
Arc Minerals* (ARCM LN) – 5p, Mkt Cap £29 m – Site visit shows copper, cobalt mineralisation in drill core and in
stockpile material
BUY
(Arc holds an effective 71.34% of Zamsort and around 73% of Casa Mining’s Akayanga project)
• Arc Minerals is pulling some very interesting copper mineralisation out of the ground in its 11,000m drill program.
• The drilling team were well into their second drill hole when we dropped in on the project last week and have now
completed five holes totalling some 875m of diamond drilling with two rigs in operation.
• When we say dropped in, we mean after several days of travelling and six hours in the car from our refuge at the
Royal Solweizi Hotel.
• Zambia is easy to drive, though the through traffic from the Copper Belt and the Congo does create significant
congestion of slow-moving lorries.
• The journey to Zamsort is interesting and definitely worth the trouble. The villages on route are friendly and even
the stern looking guards around First Quantum’s Trident mine, which is on the way, managed a friendly smile.
• Zamsort is a project which lies beyond the road beyond. More precisely, it lies another four hours on a dirt road
beyond Trident, the last project on the Zambian Copper Belt. Fortunately the locals appear friendly even if they do
think we are Chinese.
• We were struck on arrival at the project by the size of Zamsort’s small-scale copper, cobalt processing plant. The
plant is substantially complete with first saleable production and cash flow expected this year.
• Plant capacity was initially planned at 15tph assuming a leach-tank residence time of 6 hours and recovery rates
of 95%. This may be expanded to 45tph if residence times are decreased to 2 hours
• The plant should produce concentrate grades of 30% copper and 5% cobalt as a cobalt sulphide.
• There is plenty of leach tank capacity at 90tph but if plant capacity is increased then the team may need to
upgrade crusher and ball mill. The Filter press has a capacity of 5tph though this is not a constraint as the
material is concentrated at this end of the process.
• The plant is to be powered by a 450kw diesel generator though this would also need to be expanded to 1-2MW
for further expansion.
• The team still need to install jig and screen to upgrade material and remove talc but the plant appeared to have
all the major components installed
• A short 1.5km access road connects the plant to the proposed open pit
• The process plant is relatively simple as it is designed to treat simple oxide material to start and some selectivity
in the mining should help to improve process plant performance to start.
• The ore in the open pit is highly weathered and oxidized for approximately the first 10m with a transitional zone
for the next 7-10m. Sulphide ores are then thought to be present for the next 17-36m....
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