TIDMARCM
RNS Number : 0623Z
Arc Minerals Limited
08 January 2020
8 January 2020
Arc Minerals Ltd
('Arc' or the 'Company')
Widest intercept of copper mineralisation intersected at Cheyeza
East
Arc Minerals Limited, the Zambian focussed copper exploration
and development company, is pleased to announce further
near-surface, wide intersections of copper mineralisation with
high-grade intercepts from its maiden diamond drill exploration
programme at the Cheyeza East target in Zambia.
Highlights:
-- CHDDE058 intersected 68.75m @ 0.61% Cu from 7.50m
o Includes 1.14% Cu over 8.00m from 11.50m; and
o 1.09% Cu over 3.00m from 41.50m; and
o 1.14% Cu over 11.50m from 61.50m
-- CHDDE061 intersected 26.50m @ 0.99% Cu from 18.50m
o Includes 1.63% Cu over 9.50m from 35.50m
-- CHDDE062 intersected 33.00m @ 0.71% Cu from 18.00m
o Includes 0.92% Cu over 4.50m from 23.50m; and
o 1.44% Cu over 8.5m from 42.50m
Nick von Schirnding, Executive Chairman of Arc stated:
"These are another set of excellent drilling results - this
68.75m copper intersection is the widest interval of continuous
copper mineralisation ever intersected at Cheyeza East. This set of
drill results also reports a significant number of high-grade
intercepts of over 1%. Given the commencement of the rainy season
the current drilling programme has come to an end and will be
restarted shortly after the wet season ends.
In the meantime, work has commenced on the exploration strategy
for the year ahead as well as options for processing the near
surface higher grade material as previously outlined. Results for
further assays are also awaited including those for additional
targets and we look forward to releasing these in the near
term."
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. Drilling Intercepts
BHID From To Length TCu (%)
CHDDE058 7.50 76.25 68.75 0.61
----------
incl. from
11.50m 8.00 1.14
---------- -------------- ------ ------- --------
incl. from
41.50m 3.00 1.09
-------------- ------ ------- --------
incl. from
61.50m 11.50 1.14
----------
CHDDE061 18.50 45.00 26.50 0.99
----------
incl. from
35.50m 9.50 1.63
---------- ------ ------- --------
CHDDE062 18.00 51.00 33.00 0.71
---------- -------------- ------ ------- --------
incl. from
23.50m 4.50 0.92
---------- -------------- ------ ------- --------
incl. from
42.50m 8.50 1.44
---------- -------------- ------ ------- --------
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
Hole CHDDE058 drilled on the same profile and between holes
CHDDE059 and CHDDE060, intersected 24m @ 0.76% Cu and 39m @ 1.47%
Cu respectively. Through hole CHDDE060, this profile has the
highest average grade intersection and now with hole CHDDE059, this
profile also has the thickest continuous mineralised interval
intersected to date at Cheyeza East.
Drill holes CHDDE061 and CHDDE062 were drilled on the eastern
edge of the current defined core to the mineralisation at Cheyeza
East. Both holes have intersected significant mineralisation and
confirm that the mineralisation is still open at this end of the
core.
Figure 1. Map showing Cheyeza East drill locations. To view the
map, please click on the following link
http://s2.q4cdn.com/256050873/files/images/maps/Map_58_61-62.jpg
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 5(th) 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 - 1/4 core; HQ - 1/4 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.
**S**
Contacts
Arc Minerals Ltd
Nick von Schirnding (Chairman) +44 (0) 20 7917 2942
SP Angel (Nominated Adviser
& Broker)
Ewan Leggat / Soltan Tagiev +44 (0) 20 3470 0470
Market Abuse Regulation (MAR) Disclosure
Certain information contained in this announcement would have
been deemed inside information for the purposes of Article 7 of
Regulation (EU) No 596/2014 until the release of this
announcement.
Forward-looking Statements
This news release contains forward-looking statements that are
based on the Company's current expectations and estimates.
Forward-looking statements are frequently characterised by words
such as "plan", "expect", "project", "intend", "believe",
"anticipate", "estimate", "suggest", "indicate" and other similar
words or statements that certain events or conditions "may" or
"will" occur. Such forward-looking statements involve known and
unknown risks, uncertainties and other factors that could cause
actual events or results to differ materially from estimated or
anticipated events or results implied or expressed in such
forward-looking statements. Such factors include, among others: the
actual results of current exploration activities; conclusions of
economic evaluations; changes in project parameters as plans
continue to be refined; possible variations in ore grade or
recovery rates; accidents, labour disputes and other risks of the
mining industry; delays in obtaining governmental approvals or
financing; and fluctuations in metal prices. There may be other
factors that cause actions, events or results not to be as
anticipated, estimated or intended. Any forward-looking statement
speaks only as of the date on which it is made and, except as may
be required by applicable securities laws, the Company disclaims
any intent or obligation to update any forward-looking statement,
whether as a result of new information, future events or results or
otherwise. Forward-looking statements are not guarantees of future
performance and accordingly undue reliance should not be put on
such statements due to the inherent uncertainty therein.
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 t licence in the
Zambia Copperbelt, together with a convertible loan to Zamsort
which converts into approximately a five percent additional equity
interest in Zamsort.
-- A 52.5% equity interest in Zaco Limited ("Zaco"), a private
company focussed on a prospective copper and cobalt license
adjacent to Zamsort.
For more information visit www.arcminerals.com
Glossary of Technical Terms
"anomaly or anomalous" something in mineral exploration that geologists
interpret as deviating from what is standard,
normal, or expected.
The laboratory test conducted to determine
"assay" the proportion of a mineral within a rock
or other material. For copper, usually reported
as percentage which is equivalent to percentage
of the mineral (i.e. copper) per tonne of
rock.
----------------------------------------------------------
"azimuth" the "compass direction" refers to a geographic
bearing or azimuth as measured by a magnetic
compass, in true or magnetic north.
----------------------------------------------------------
"bornite" Bornite, also known as peacock ore, is a copper
sulphide mineral with the formula Cu(5) FeS(4)
.
----------------------------------------------------------
"breccia" Breccia is a rock classification, comprises
millimetre to metre-scale rock fragments cemented
together in a matrix, there are many sub-classifications
of breccias.
----------------------------------------------------------
"chalcocite" Chalcocite is a copper sulphide mineral with
the formula Cu(2) S and is an important copper
ore mineral. It is opaque and dark-gray to
black with a metallic luster.
----------------------------------------------------------
"chalcopyrite" Chalcopyrite is a copper sulphide mineral
with formula CuFeS(2) . It has a brassy to
golden yellow colour.
----------------------------------------------------------
"chargeability" Chargeability is a physical property related
to conductivity. Chargeability is used to
characterise the formation and strength of
the induced polarisation within a rock, under
the influence of an electric field, suggesting
sulphide mineralisation at depth.
----------------------------------------------------------
"covellite" Covellite is a copper sulphide mineral with
the formula CuS. This indigo blue mineral
is ubiquitous in some copper ores.
----------------------------------------------------------
"diamond drilling" A drilling method in which penetration is
achieved through abrasive cutting by rotation
of a diamond encrusted drill bit. This drilling
method enables collection of tubes of intact
rock (core) and when successful gives the
best possible quality samples for description,
sampling and analysis of an ore body or mineralised
structure.
----------------------------------------------------------
"dip" A line directed down the steepest axis of
a planar structure including a planar ore
body or zone of mineralisation. The dip has
a measurable direction and inclination from
horizontal.
----------------------------------------------------------
"grab sample" are samples of rock material collected from
a small area, often just a few pieces or even
a single piece of rock "grabbed" from a face,
dump or outcrop or roughly 2-5kg. These are
common types of rock samples collected when
conducting mineral exploration. The sample
usually consists of material that is taken
to be representative of a specific type of
rock or mineralisation.
----------------------------------------------------------
"grade" The proportion of a mineral within a rock
or other material. For copper mineralisation
this is usually reported as % of copper per
tonne of rock.
----------------------------------------------------------
"g/t" grams per tonne; equivalent to parts per million
('ppm')
----------------------------------------------------------
"hematite" Hematite is the mineral form of iron(III)
oxide (Fe(2) O(3) ), one of several iron oxides.
Magnetite alteration is also typically associate
with porphyry copper systems, at or close
to the central core.
----------------------------------------------------------
"Indicated Resource" An "Indicated Mineral Resource" is that part
of a Mineral Resource for which quantity,
grade or quality, densities, shape and physical
characteristics, can be estimated with a level
of confidence sufficient to allow the appropriate
application of technical and economic parameters,
to support mine planning and evaluation of
the economic viability of the deposit. The
estimate is based on detailed and reliable
exploration and testing information gathered
through appropriate techniques from locations
such as outcrops, trenches, pits, workings
and drill holes that are spaced closely enough
for geological and grade continuity to be
reasonably assumed.
----------------------------------------------------------
"Inferred Resource" An "Inferred Mineral Resource" is that part
of a Mineral Resource for which quantity and
grade or quality can be estimated on the basis
of geological evidence and limited sampling
and reasonably assumed, but not verified,
geological and grade continuity. The estimate
is based on limited information and sampling
gathered through appropriate techniques from
locations such as outcrops, trenches, pits,
workings and drill holes.
----------------------------------------------------------
"Induced Polarisation Induced polarisation (IP) is a geophysical
Geophysics" survey used to identify the electrical chargeability
of subsurface materials, such as sulphides.
The survey involves an electric current that
is transmitted into the subsurface through
two electrodes, and voltage is monitored through
two other electrodes.
----------------------------------------------------------
"intercept" Refers to a sample or sequence of samples
taken across the entire width or an ore body
or mineralised zone. The intercept is described
by the entire thickness and the average grade
of mineralisation.
----------------------------------------------------------
"JORC Code" The Australasian Code for Reporting of Exploration
Results, Mineral Resources and Ore Reserves
('the JORC Code') is a professional code of
practice that sets minimum standards for Public
Reporting of minerals Exploration Results,
Mineral Resources and Ore Reserves.
----------------------------------------------------------
"K" The element potassium, abundance on surface
can be inferred from radiometric surveys
----------------------------------------------------------
"Magnetics" Rocks are made up of different minerals and
the magnetic properties of a rock depends
on the amount and type of iron rich minerals
it contains. Earth's magnetic field interacts
with these iron rich minerals to generate
variations in the magnetic field. Measuring
and mapping these variations allows remotely
mapping of the distribution and patterns of
magnetic rocks and, as a result, map the subsurface
geology
----------------------------------------------------------
"magnetite" Magnetite is main iron ore mineral, with chemical
formula Fe(3) O(4) . Magnetite is ferromagnetic,
and it is attracted to a magnet and can be
magnetized to become a permanent magnet itself.
----------------------------------------------------------
"massive" In a geological sense, refers to a zone of
mineralisation that is dominated by sulphide
minerals. The sulphide-mineral-rich material
can occur in centimetre-scale, metre-scale
or in tens of metres wide veins, lenses or
sheet-like bodies containing sphalerite, galena,
and / or chalcopyrite etc.
----------------------------------------------------------
"Measured Resource" A "Measured Mineral Resource" is that part
of a Mineral Resource for which quantity,
grade or quality, densities, shape, and physical
characteristics are so well established that
they can be estimated with confidence sufficient
to allow the appropriate application of technical
and economic parameters, to support production
planning and evaluation of the economic viability
of the deposit. The estimate is based on detailed
and reliable exploration, sampling and testing
information gathered through appropriate techniques
from locations such as outcrops, trenches,
pits, workings and drill holes that are spaced
closely enough to confirm both geological
and grade continuity.
----------------------------------------------------------
"Mineral Resource" A "Mineral Resource" is a concentration or
occurrence of diamonds, natural solid inorganic
material, or natural solid fossilised organic
material including base and precious metals,
coal, and industrial minerals in or on the
Earth's crust in such form and quantity and
of such a grade or quality that it has reasonable
prospects for economic extraction. The location,
quantity, grade, geological characteristics
and continuity of a Mineral Resource are known,
estimated or interpreted from specific geological
evidence and knowledge.
----------------------------------------------------------
"mineralisation" In geology, mineralisation is the deposition
of economically important metals (copper,
gold, lead, zin etc) that in some cases can
be in sufficient quantity to form mineral
ore bodies.
----------------------------------------------------------
"open pit mining" A method of extracting minerals from the earth
by excavating downwards from the surface such
that the ore is extracted in the open air
(as opposed to underground mining).
----------------------------------------------------------
"outcrop" A section of a rock formation or mineral vein
that appears at the surface of the earth.
Geologists take direct observations and samples
from outcrops, used in geologic analysis and
creating geologic maps. In situ (in place)
measurements are critical for proper analysis
of the geology and mineralisation of the area
under investigation.
----------------------------------------------------------
"polymict" A geology term, often applied to breccias
or conglomerates, which identifies the composition
as consisting of fragments of several different
rock types.
----------------------------------------------------------
"Preliminary Economic NI 43-101 defines a PEA as "a study, other
Assessment" than a pre-feasibility study or feasibility
study, which includes an economic analysis
of the potential viability of mineral resources".
----------------------------------------------------------
"Pyrrhotite" Pyrrhotite is an iron sulfide mineral with
the formula Fe(1-x)S (x = 0 to 0.2). It is
a nonstoichiometric variant of FeS, the mineral
known as troilite. Pyrrhotite is also called
magnetic pyrite
----------------------------------------------------------
"Radiometrics" The radiometric, or gamma-ray spectrometric
method is a geophysical process used to estimate
concentrations of the radioelements potassium,
uranium and thorium by measuring the gamma-rays
which the radioactive isotopes of these elements
emit during radioactive decay
----------------------------------------------------------
"sediments" Sedimentary rocks formed by the accumulation
of sediments. There are three types, Clastic,
Chemical and Organic sedimentary rocks.
----------------------------------------------------------
"sphalerite" Sphalerite is a zinc sulphide in crystalline
form but almost always contains variable iron,
with formula (Zn,Fe)S. It can have a yellowish
to honey brown or black colour.
----------------------------------------------------------
"supergene" Supergene ore processes occur near surface,
and form deposits of secondary minerals, such
as malachite, azurite, chalcocite, covellite,
digenite, etc.
----------------------------------------------------------
"surface rock chip samples" Rock chip samples approximately 2kg in size
that are typically collected from surface
outcrops exposed along rivers and mountain
ridgelines.
----------------------------------------------------------
"Th" The element thorium, abundance on surface
can be inferred from radiometric surveys
----------------------------------------------------------
"U" The element uranium, abundance on surface
can be inferred from radiometric surveys
----------------------------------------------------------
"veins" A vein is a sheet-like or anastomosing fracture
that has been infilled with mineral ore (chalcopyrite,
covellite etc) or mineral gangue (quartz,
calcite etc) material, within a rock. Veins
form when minerals carried by an aqueous solution
within the rock mass are deposited through
precipitation and infill or coat the fracture
faces.
----------------------------------------------------------
"volcanics" Volcanic rock such as andesite or basalt that
is formed from magma erupted from a volcano,
or hot clastic material that erupts from a
volcano and is deposited as volcaniclastic
or pyroclastics.
----------------------------------------------------------
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
DRLBRMPTMTAMBRM
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