RNS!5 Jun 2019 07:56
RNS Number : 1483B
Arc Minerals Limited
05 June 2019
Arc Minerals Ltd / Epic: ARCM / Market: AIM / Sector: Mining & Exploration
5 June 2019
Arc Minerals Ltd
('Arc' or the 'Company')
Zambia - Exploration & Drilling Update
Arc Minerals is pleased to announce that it has mobilised drill rigs following exciting results from the first infill soil geochemistry programme at one of its exploration targets in Zambia.
Highlights:
-- Comprehensive geochemical and geophysical studies have identified 12 signficant regional targets
-- Completion of infill geochemistry at Cheyeza has identified the new Cheyeza Central target situated between the between large, high-priority Cheyeza East and Cheyeza West targets
-- Up to 2,792 ppm copper identified at Cheyeza East
-- Drill pads and access completed at Cheyeza West and East with two rigs to begin drilling shortly
-- Further infill geochemistry work is underway at four additional regions with further results expected soon
The completion of the airborne geophysical survey and broad spaced soil geochemical programme last year resulted in the identification of 12 anomalous target areas within the Zamsort-Zaco license areas.
Over the past two months, further infill soil sampling over the 10km x 8km Cheyeza region has been completed, with over 6,000 samples analysed, adding a further target anomaly (Cheyeza Central).
Of particular interest is a 3km by 0.8km area at Cheyeza East where up to 2,792 ppm copper in the soils has been identified. The first rig will be targeting this signficant geochemical anomaly at Cheyeza East.
Nick von Schirnding, Executive Chairman of Arc Minerals commented:
"I am very encouraged by the results of our extensive work over the property that we have completed over the past few months. It confirms that we have a wide range of exciting and high priority targets, any of which could be company makers on their own, indeed ongoing exploration by majors in this region of Zambia supports the potential for major new tier 1 discoveries. My confidence going forward also is strengthened by the excellent work by two respected external geological consultancies, African Mining Consultants and Momentum Group.
I look forward to a period of active newsflow as we start our drilling programme, initially at Cheyeza East and West."
An investor conference call will be held today at 12pm UK time GMT (details below)
Please see the following links for updated maps following the recent geochemical and geophysical studies:
Figure 1 Target location map and +50ppm copper in soils XRF anomaly
http://www.arcminerals.com/zamsort50ppm
Figure 2 Contoured regional geochemistry copper in soils XRF results
http://www.arcminerals.com/zamsortregionalxrf
Figure 3 Cheyeza region copper in soils XRF results
http://www.arcminerals.com/cheyezainfillxrf
Further Work
The infill soil geochemical programme is continuing and at present the expl