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Arc Minerals Limited

Arc Minerals reports highly encouraging drill results from the Cheyeza East copper prospect

Arc is beginning to build strength in depth in regard to its portfolio of Zambian assets

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Arc's key target in Zambia is copper

Recent drilling undertaken by Arc Minerals Ltd (LON:ARCM) at the Cheyeza East prospect has intersected 25 metres grading 1.05% copper, including 1.7% copper over 9.3 metres.

An additional hole drilled 200 metres to the south also shows significant mineralisation.

READ: Arc Minerals continues to make progress with key projects

The Cheyeza target area was one of several areas identified as worthy of further investigation by geophysics and geochemistry work programs completed last year.

Drilling continues at this anomaly to test its full extent, both along strike and down dip.

"These maiden drill results have exceeded all our expectations both in terms of grade and thickness,” said Arc’s executive chairman Nick von Schirnding. 

“While we are still at an early stage in the drilling programme, these results are highly encouraging and we have now deployed two rigs to Cheyeza East.  Importantly our third hole 200 meters south also shows significant mineralization."

In afternoon trading, shares in Arc Minerals were 8.9% higher at 3.38p.

 -- Adds share price --

 

 

Quick facts: Arc Minerals Limited

Price: £0.03

Market: AIM
Market Cap: £24.85 m
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