Arc Minerals Limited (AIM: ARCM) is preparing to begin drilling at its Virgo copper project in Botswana in August as its geophysical programme approaches completion.
The Africa-focused copper explorer said it is in advanced discussions with drilling contractors and expects to make a selection during July.
The planned drilling campaign will test priority targets generated through the integration of an expanded induced polarisation survey, magnetic data and detailed geological interpretation.
Arc has extended the IP survey to continue following the interpreted contact between the D’Kar and Ngwako Pan formations, a geological boundary associated with copper mineralisation across the Kalahari Copper Belt.
The additional survey coverage is intended to sharpen drill targeting ahead of mobilisation, with results from the wider geophysical programme expected shortly.
Virgo is located within Botswana’s Kalahari Copper Belt and, according to Arc, represents the only junior-held licence package within MMG’s highly prospective Zone 5 Corridor.
In Zambia, Arc has also concluded a comprehensive settlement agreement that brings all outstanding legal disputes relating to the Kabompo West project to an end.
Consent judgements are now being filed with the relevant Zambian courts, with a further announcement expected once the process has been completed.
The settlement allows Arc to move forward with a dual-track strategy at Kabompo West.
The company is holding discussions with major mining groups regarding potential strategic opportunities while simultaneously reviewing its extensive geological, geophysical and drilling database.
As part of that review, Arc is assessing whether AI-assisted geological interpretation could complement traditional exploration techniques and help unlock further value from the existing dataset.
The board continues to regard Kabompo West as one of the largest and most prospective exploration land packages in Zambia’s Western Domes region.
Arc raised £3 million in April to fully fund its current Botswana exploration campaign and working capital requirements. It also issued shares to offset more than £1 million owed to creditors.
Chief executive Rémy Welschinger said the Zambia settlement finally allows the company to take Kabompo West forward and described Arc as entering an important phase as it advances both Virgo and its Zambian portfolio.
