Intersects 80m of pervasive sulphide mineralisation
Arc Minerals (“Arc” or the “Company”) is pleased to announce that the drilling programme at the Kalaba prospect, part of its Zamsort Copper-Cobalt Project (“Zamsort”) is progressing well.
Ten diamond holes have been completed to date, totalling 1,435 meters. The team is currently working on the logging, core cutting as well as sample preparation and sending the samples to the laboratory for multi-element testing. The first results are expected over the next few weeks.
To date the drilling has intersected rocks that display a much higher degree of metamorphism than what is traditional for the Copperbelt region. The results of this is that far greater thicknesses of sulphide mineralisation have been intersected, with up to 80m in certain areas. Providing these levels of pervasive sulphide mineralisation continue, the initial target JORC compliant Minerals Resource Estimate of 16 million tonnes will most likely be exceeded.
Three holes have intersected visible mineralisation for more than 80 meters and in the case of the latest hole mineralisation started only six meters from surface.
Nick von Schirnding, Executive Chairman of Arc Minerals commented: “I am very pleased with the progress of the drilling programme to date. A number of holes have intersected pervasive mineralisation with visible copper and cobalt over thicknesses of 80m which is particularly exciting. I look forward to updating on the progress of the initial assay results as well as the RC drilling programme which will commence imminently.”
Notes to the Editors
Arc Minerals is an AIM listed exploration and mine development company focused on a diversified portfolio of mining projects with interests in Slovakia, Eritrea, the Democratic Republic of the Congo and Zambia.
ARC Minerals current holdings include:
· 100% interest in CASA Mining Limited, a private company that has a 71.25% interest in the 3-million-ounce inferred Resource Akyanga gold deposit in the DRC.
· A 66% equity interest in Zamsort Limited (“Zamsort”), a private company focused on a prospective copper and cobalt licence in the Zambia Copperbelt, together with a convertible loan to Zamsort which converts into approximately a five percent additional equity interest in Zamsort, with interest on the convertible note being rolled forward to the end of 2018;
· 100% ownership of the Kremnica Mining Licence Area in Slovakia which host the 1.3Moz AuEq Au PFS stage Ṧturec Gold Project;
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