Arc Minerals Limited (ARCM.L) Further Drill Results from Fwiji and Muswema

Further Exciting Drill Results from Fwiji and Muswema

Arc Minerals Ltd the Zambian focussed copper exploration and development company, is pleased to provide further exploration drill results from the Fwiji and Muswema Prospects.


· Further drill results from Fwiji with sulphide Copper intercepts

· Sulphide copper and cobalt mineralisation intersected at Muswema

· Muswema results support interpretation from geochemical characterisation and targeting

· Early drill results from Muswema indicate potential for larger system

Nick von Schirnding, Executive Chairman of Arc stated:

“The exploration drilling programmes at Fwiji and early initial results from Muswema are another milestone in the company’s drilling success. Results from both drilling programmes indicate possible large-scale metal discoveries, with further follow up work that we are already progressing. We are not satisfied with simply identifying further targets but are focusing razor-like on the next stage of developing the most prospective of our 14 targets.

With most holes drilled showing copper intersections, we believe this provides further definitive evidence for our highly prospective license areas to host one or more large orebodies. With these additional results and continued interest by third parties we are extremely excited about the near term future.”

Drilling Background

Following the Geochemical Characterisation and Targeting exercise completed on the 2,500 soil sample dataset selected by Anglo American as part of their due diligence under the exclusivity agreement, the company mobilised a drill rig to continue testing the re-ranked targets, starting off with the Muswema Prospect.

At Muswema, holes drilled 400m apart have intersected sulphide copper and cobalt mineralisation confirming that the Muswema basin is mineralised, with the mineralisation related to the zones of potassic alteration within the host rock unit.

At Fwiji, further assay results from the holes drilled show further copper intercepts from the wide spaced drill program, providing support for a mineralised system in this part of the license area.

Drilling Results

The table below sets out the recent results of the holes for which assays have been received by Zamsort from SGS Inspection Service Ltd in Kalulushi, Zambia.

Table 1. Fwiji Prospect Drilling Intercepts

* Results announced in October

Table 2. Muswema Prospect Drilling Intercepts

Notes: ​

1) Reported intervals are downhole widths.

2) Reported intervals are calculated for zones assaying > 0.2% Copper or 0.02% Cobalt and containing generally less than 3 metres of internal waste.

3) The Copper equivalent values are estimated using the approximate prevailing metal prices of $7,500/t copper and $32,000/t cobalt and are presented for ease of interval comparison only. Metallurgical factors are assumed to be 100% although the recovery factors and smelter returns may vary significantly.

4) The Copper equivalent values may differ slightly due to rounding.

Drilling Summary

At Fwiji, wide-spaced drilling consisting of ten diamond drill holes tested a surface area of more than 1km2 confirming a plunging anticlinal feature that has now been shown to be mineralised.

At Muswema, MUSDD005 collared down dip of MUSDD004 intersected the down dip sulphide extensions to the oxide mineralisation intersected in MUSDD004. MUSDD006 collared 400m to the south of MUSDD005, confirmed the along strike extensions to the sulphide copper and cobalt mineralisation intersected in MUSDD005, demonstrating the continuity of the mineralisation between holes.

Many deposits in the Copperbelt are located in the vicinity of macrostructural features that would have ultimately had a bearing on deposit formation. At both Fwiji and Muswema, copper bearing fluids are proven to be have been present. Identifying and targeting of the potential structural traps will be the next steps to locating potential large-scale metal accumulations.

Fwiji Target Area

The Fwiji target area has been confirmed by both the soil sampling and airborne geophysical programmes and is situated on the northern limb of the Nyembwezu Syncline. The area is dominated by an open, south westerly plunging anticline, as defined by the Lower Roan quartzite ridge.

The pXRF analysis of the soil samples collected over the target area defined an arc-shaped low order copper (“Cu”) anomaly (>100 ppm) extending for circa 4km, within which a core, high order Cu anomaly (>200 ppm) was traced for circa 2km.

Muswema Target Area

The Muswema Target Area (‘MTA’) was identified by both the soil sampling and airborne geophysical programmes. The MTA is situated on the northwest margin of the Kabompo Dome in an embayment produced by a series of northwest-southeast trending transfer faults. Four prospects have been defined over the MTA, namely Muswema, Muswema South, Chihidi and Kazozu.

Quality Assurance/Quality Control (QA/QC)

The core from the diamond drill was sampled at up to 1.5m intervals with the split core (PQ – ¼ core; HQ – ¼ core) bagged and sent to SGS Inspection Service Ltd in Kalulushi, Zambia, an ISO accredited laboratory for assaying.

The samples were sorted, dried, crushed and pulped before final chemical analysis using ICP-OES methods. Standards, blanks and duplicates were inserted regularly in the sample stream and checks were done for copper.

Qualified Persons

The exploration data contained in this disclosure has been read and approved by Mr Vassilios Carellas (BSc (Hons), MAusIMM) who is the Chief Operating Officer for Arc and has sufficient experience relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined under the JORC Code (2012).

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