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Annual report just issued... Ella can commence digging for dirt!

That's the interim results pb940, not the annual results. Having said that the only results I'm interested in at the moment are the Assay Results!

Just to have a rough guide, we have drilled approximately 1500m in two months (could be more but the depth of hole 2 at Fwiji wasn’t stated). If we have another 2 months before the rainy season then obviously that would equate to 3 more 500m drills. I believe drilling carried on well into December last year so we may have extra time. With sulphides being discovered at 200m on the first Cheyeza hole it may be that they don’t need to drill so deep as they expected. Also the RNS talked of accelerating the drilling programme, the only way they can do that is to bring in another drilling rig (or rigs)… unless the two they are using have a turbo mode!

The post was truncated, here's the last bit about Fwiji:

Better still, the Kamoa deposit runs relatively undisturbed for several kilometres. Fwiji: The mineralised structure at Fwiji is different to Cheyeza and is similar in many ways to First Quantum’s Kansanshi mine. Fwiji shows a 3-4km linear trend with vein mineralisation running perpendicular to the stratigraphy. Arc’s geological team are now looking to intersect these veins closer to surface Conclusion: It is early days in the discovery process but there appears to be some geological evidence to suggest potential for significant discoveries at Cheyeza East and at Fwiji *SP Angel acts as Nomad and broker

Being involved in DRC is the big issue. Watch this video from last year with Remy taking part in a discussion about financing projects in Africa. The key parts are from 28 min and again from 1 hour 6 min. Remy discusses exactly this issue, as well as the problems with trying to explain to investors just why our grounds are so much better than neighbouring grounds.

https://youtu.be/liE4zmhATWc

Another point to remember is that the 350m intersection was a down-hole depth, the true depth will be less because they were drilling at an angle to the vertical.

It’s important to understand that the strata are not horizontal at Fwiji, they are dipping from the surface to the South West. In order to drill through them perpendicular to the bedding planes they would have drilled at an angle, not vertically down. It just so happened that the angle that they drilled at was roughly the same as the direction of the mineralised fracture so they were pretty much parallel to it, just grazing it at 350m. I would imagine they plan to try and hit the same intersection again but this time angling the drill so that they drill through the fracture perpendicularly and determine its thickness. They should be able to get a lot of information from the drill core to help them put the drill rig in the best position and drill angle.

When that is likely to happen is another matter, I guess the focus will be on Cheyeza for the time being.

It’s explained in the RNS. The fourth drill was angled to intersect perpendicular to the bedding planes but it looks like the mineralised vein is more in line with the drilling direction so they have just grazed the edge of it. If you look at the image of the cores that seems possible, with the rock type changing from dark to light and back again and with a steeply dipping contact between the two. Once they have established the orientation from the core they can drill the next hole to intersect the vein perpendicularly. The 3.5m at 350m doesn’t really tell us much at the moment apart from there is mineralisation at 350m. It could also be shallower but it just wasn’t intersected,

I don't think the fact that they are still drilling the first hole (assuming that is the case) is necessarily a sign that they have found more mineralisation. The plan was always to drill deep so I would expect that be the case regardless. I'm sure if they do discover more mineralisation then they will be keen to tell everyone about it sooner rather than later!

Kully yes it is a bit heavy going in places! It just shows how complex these fracture zones can be and every one is likely to be different.

This video is quite a nice presentation on faulting and fluid movements if anyone wants a bit more background. I found it useful anyway.

https://youtu.be/g02pYGUycDM

Kully I think that where the oxides were located must be close to the fracture zone, where the fluids have followed the fractures all the way up to the surface. I believe the fracture zone in general dips away to the south west. What they are looking for are where fluids have travelled part way up the fracture zone and then branched off into the porous layers and become trapped. That could happen at multiple levels so the mineralisation we saw yesterday might just be the first of several as they are still drilling the first hole. That can happen on both sides of the fracture zone so I guess they might also drill SW as well as NE of the fracture. The fact that we have mineralisation 500m away from the oxides seems good news to me, the fluids must have travelled at least that far from the site of the fracture.

It's hard to say what the story is with Fwiji, it sounds like one they might revisit another time. Personally I'd much rather see them drilling Muswema next as that looks even more promising than Cheyeza to me. Not to mention Nyambezu and Jatuma as well... too many targets not enough time!

It’s interesting that Meyer talks about a possible deal with Rio Tinto or the Chinese rather than AA. There have been recent rumours of talks between Arc and Rio Tinto so maybe there is truth in it.

Good morning Longfell, the short answer is I don’t know. I would imagine they will need to drill a few more cores in order to get a better understanding of the geology and in combination with the new airborne geophysics data they should be able to home in on the best targets.

Anglo already know 100% that there are sulphides at several of our targets because that is exactly what the copper scandium ratio data is telling us. I think this key point is not fully understood and probably hasn’t been explained fully by the company. Of course you still need to drill to determine the grade and dimensions but have no doubt they are there.

Short term buying and selling isn’t the big news here Peggy, Arc has now proved there are massive sulphides at Cheyeza and there are plenty of targets still to explore. This is a monster that’s just waking up… no amount of your petty deramping is going to change that :-)

My gut (and all the obvious evidence) told me to add to my ISA holding last week… very glad I did!

It’ll probably be a bumpy ride today as we shake off the traders and the shares find their way into the hands of more serious players. We are on the right track though, that’s the main thing!

FK79 yes I was still waking up myself… should have realised you meant thickness. Anyway, the thickest sulphides we have had so far are 20m I believe so it must be more than that!

There’s going to be some sad faces at Kapore this morning :-)