Arc Minerals Limited (LON:ARCM) Major Exploration Development at Cheyeza East

Arc Minerals Limited, the Zambian focussed copper exploration and development company, is pleased to announce additional near-surface, high-grade copper assays from its maiden diamond drill exploration programme at the Cheyeza East target in Zambia.

Highlights:

·    CHDDE060 intersected 1.47% Cu over 39m from 13m

o  Includes 2.25% Cu over 10m from 41m

·    CHDDE057 intersected 1.78% Cu over 21.50m from 29m

o  Includes 2.84% Cu over 11m from 34m

·    CHDDE059 intersected 0.76% Cu over 24m from 15m

o  Includes 1.70% Cu over 7.50m from 23m

Nick von Schirnding, Executive Chairman of Arc stated:

“These are excellent results – some of the best to date.  The intercepts, which are on the south eastern edge of the original high grade zone, extend further than we originally thought and is still open to the north west and south east.  As a result of these very strong results we will be re-evaluating our options in regard to the drill programme at Cheyeza to assess how extensive this could be.  These recent results are eliciting further interest from 3rd parties and discussions are ongoing.  I look forward to updating shareholders on further developments.”

Drilling Results

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

Table 1. Drilling Intercepts

Notes: ​

1) Reported intervals are downhole widths.

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

3) Metallurgical factors are assumed to be 100% although the recovery factors may vary significantly.

Drilling Summary

Drill holes CHDDE054 and CHDDE055 were drilled on the north western margin of the core to the mineralisation at Cheyeza East, which originally measured 250m x 250m, but with this round of drilling has increased to 300m x 300m. These holes are still in mineralisation and further drilling in this area could extend this end of the core further to the north west.

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Drill hole CHDDE056 was drilled a further 400m to the north west of the current central core at Cheyeza East, on the upthrown side of an assumed fault, to test the concept of this fault and the probability of intersecting sulphide mineralisation.

Drill holes CHDDE057, CHDDE059, and CHDDE060 were all drilled to test the extremities to the south east of the current high grade core. The high grades and large thicknesses of mineralisation intersected in these holes suggest that the core potentially extends a lot further to the south east than originally thought.

Cheyeza Target Area

The Cheyeza Target Area (‘CTA’) was one of several areas identified by both the geophysics and geochemistry work programmes completed last year. As reported on the 5th June 2019, 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 and where these initial holes were drilled. Drilling continues at this anomaly to test its full extent, both along strike and down dip.

Quality Assurance/Quality Control (QA/QC)

The core from the diamond drill was sampled at up to 1.5m metre 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 information in this press release is based on information provided by Zamsort Limited on behalf of Arc Minerals.  Mr Vassilios Carellas (BSc (Hons), MAusIMM) is the Chief Operating Officer for Arc Minerals 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).  Mr Carellas consents to the inclusion in this announcement of the matters based on his information in the form and context in which it appears.

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