TIDMARCM
RNS Number : 9850F
Arc Minerals Limited
27 February 2018
Arc Minerals Ltd / Epic: ARCM / Market: AIM / Sector: Mining
& Exploration
27 February 2018
Arc Minerals Ltd
("Arc Minerals " or the "Company")
Initiation of Soil Sampling Programme East of the Akyanga
Deposit
Arc Minerals (AIM:ARCM), the AIM listed exploration and
development company focused on a diversified portfolio of gold,
copper and cobalt projects is pleased to announce the commencement
of a comprehensive soil sampling programme designed to test the
potential mineralised zones between the 1.57Moz Au Akyanga Deposit
("Akyanga") and the Akyanga East Prospect ("Akyanga East Prospect"
or "Akyanga East").
Highlights
-- Programme objective to verify the potential repetition of the
Akyanga Deposit type stratigraphy along an interpreted thrust in
the valley at Akyanga East which if proven could host significant
additional gold mineralisation
-- Latest interpretation is a result of an ongoing
re-examination of geophysical data following the re-logging of all
125 diamond core holes drilled at the Akyanga Deposit
-- Results of the soil sampling programme will enable the
Company to generate new drill targets to test for additional
mineralised zones at the Akyanga East Prospect and to target
prospective geology in the hypothesised valley thrust
structure.
-- Results of the soil sampling programme are expected at the beginning of April
Soil Sampling Programme
The soil sampling programme ("the Programme") is designed to
extend to the east of a previous soil sampling programme, which
covered ground to the north and south of the Akyanga Deposit, (see
Figure 1). The Programme will sample the ground between the Akyanga
Deposit and the Akyanga East Prospect, (see Figure 2) covering an
area of approximately 4km(2).
The soil profile lines are spaced 200 metres apart, with a soil
sample collected every 50m along the profile line. In total it is
anticipated that approximately 600 samples will be collected with
the Programme expected to be completed during the next couple of
weeks and results expected in early April 2018. The Programme is
expected to generate a number of high-quality drill targets at
Akyanga East as well as the valley in-between the Akyanga Deposit
and the Akyanga East Prospect."
Nick von Schirnding, Arc Minerals' Executive Chairman,
commented:
"Our current drilling programme continues to intersect broad and
high-grade mineralisation to the south of the Akyanga Deposit and
the geology remains open in multiple directions. The area
in-between the Akyanga Deposit and the Akyanga East Prospect has
not been systematically explored and the aim of the current soil
sampling programme is to generate some high-quality drill targets
with the aim to expand the current resource envelope to the east as
well as the south.
We look forward to reporting on the results of this programme as
well as the results from our ongoing drilling programme focussed on
expanding the current 1.57Moz Au Resource at the Akyanga Deposit
which has delivered highly encouraging results so far."
Figure 1: Location map showing background geophysical anomaly,
Akyanga drill holes, existing soil samples and location of proposed
soil samples (http://arcminerals.com/gal.php?gID=159#group-2).
Figure 2: Photo looking north up the Akyanga valley showing
structural interpretations
(http://arcminerals.com/gal.php?gID=159#group-1).
Qualified Persons
The information in this announcement that relates to Exploration
Targets, Exploration Results and Mineral Resources or Ore Reserves
is based on information compiled by Mr Thomas Rogers (BSc. Hons,
MSAIMM, MEIZ) of African Mining Consultants (AMC). Mr Rogers has
sufficient experience in the activity which he is undertaking to
qualify as a Competent Person as defined under the JORC Code
(2012). AMC consents to the inclusion in this announcement of the
matters based on this information in the form and context in which
it appears.
Data disclosed in this press release has been reviewed and
verified by Arc Minerals' qualified person Mr Vassilios Carellas.
Mr Vassilios Carellas (BSc (Hons), MAusIMM) is the Chief Operating
Officer for Arc Minerals Limited 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 +44 (0) 20
Nick von Schirnding (Chairman) 3874 8664
SP Angel (Nominated Adviser
& Broker)
Ewan Leggat / Lindsay Mair / +44 (0) 20
Soltan Tagiev 3470 0470
About ARC Minerals
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:
-- 91.6% interest in CASA Mining Limited, a private company that has a 71.25% interest in the 1.5-million-ounce inferred Resource Akyanga gold deposit in the DRC.
-- A 14% interest in Zamsort Limited, a private company focused
on a prospective copper and cobalt licence in the Zambia
Copperbelt, with approximately a six percent balance and interest
(convertible note) being rolled forward to the end of 2018;
-- 100% ownership of the Kremnica Mining Licence Area in
Slovakia which host the 1.3Moz AuEq Au PFS stage turec Gold
Project;
-- A 18.48% interest in Andiamo Exploration Limited, a private
company exploring for gold and base metals VMS targets in
Eritrea.
For more information visit www.arcminerals.com
About CASA Mining
CASA is a private Mauritian registered company that is the 71.25
percent owner and operator of the Misisi Gold Project located in
South Kivu, eastern DRC, approximately 350km south of Bukavu and
180km north of Kalemie.
The Misisi Gold license area consists of three contiguous mining
licenses covering 133km(2) , issued in March 2015 and is valid for
30 years. These licenses encompass a 60km strike length of the
Tanganyika graben within the Rusizian belt ("Misisi Corridor"),
which includes he 1.5 million-ounce Akyanga Deposit along with the
Lubitchako, Tulongwe, Kilombwe and Mutshobwe prospects.
The licences have benefited from considerable capital
expenditure to date, including regional geophysical surveys
completed in 2011, 19,522m of diamond drilling, 2,720m of reverse
circulation drilling and excavated 6,274-line metres of
trenches.
In June 2017, African Mining Consultants ("AMC") reported a
mineral Resource, within a US$1,250/oz gold selling price optimised
pit shell, which defined a 1.05Moz JORC inferred resource @ 2.27
g/t Au (using a 1.5 g/t Au cut-off) within a lower grade envelope
of 1.57Moz @ 1.65 g/t Au.
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.
Technical Glossary
Assay the laboratory test conducted
to determine the proportion
of a mineral within a rock
or other material.
---------------------- ----------------------------------------
Atomic Absorption the final stage in determining
Finish (AAS Finish) the grade of a sample by a
method that measures the concentration
of atoms of an element by
passing light, emitted by
a hollow cathode lamp of that
element, through a cloud of
atoms from that sample. Only
those atoms that are the same
as those in the lamp will
absorb the light from the
lamp. A reduction in the amount
of light reaching the detector
is seen as a measure of the
concentration of that element
in the original sample
---------------------- ----------------------------------------
Au the chemical symbol for gold
---------------------- ----------------------------------------
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 the collection of
tubes of intact rock (core)
---------------------- ----------------------------------------
Dip a line directed down the steepest
axis of a planar structure
including a planar ore body
or zone of mineralization.
The dip has a measurable direction
and inclination from the horizontal
---------------------- ----------------------------------------
Fire Assay fire assaying is the quantitative
determination in which a metal
or metals are separated from
impurities by fusion processes
and weighed in order to determine
the amount present in the
original sample
---------------------- ----------------------------------------
Grade the proportion of a mineral
within a rock or other material
which for gold is usually
measured in g/t
---------------------- ----------------------------------------
g/t grammes per tonne, the quantity
of the element expressed as
the number of grammes contained
in one tonne of the host rock
---------------------- ----------------------------------------
JORC Resource Resource estimated according
to the Australasian Code for
Reporting of Exploration Results,
Mineral Resources and Ore
Reserves, as published by
the Joint Ore Reserves Committee
of The Australasian Institute
of Mining and Metallurgy,
Australian Institute of Geoscientists
and Minerals Council of Australia
---------------------- ----------------------------------------
Indicated Mineral That part of a Mineral Resource
Resource for which tonnage, densities,
shape, physical characteristics,
grade and mineral content
can be estimated with a reasonable
level of confidence. It is
based on exploration, sampling
and testing information gathered
through appropriate techniques
from locations such as outcrops,
trenches, pits, workings and
drill-holes. The locations
are too widely or inappropriately
spaced to confirm geological
and/or grade continuity but
are spaced closely enough
for continuity to be assumed
---------------------- ----------------------------------------
Inferred Mineral That part of a Mineral Resource
Resource for which tonnage, grade and
mineral content can be estimated
with a low level of confidence.
It is inferred from geological
evidence and assumed but not
verified geological and/or
grade continuity. It is based
on information gathered through
appropriate techniques from
locations such as outcrops,
trenches, pits, workings and
drill-holes which may be limited
or of uncertain quality and
reliability
---------------------- ----------------------------------------
m metre, a unit of length as
per the International System
of Units
---------------------- ----------------------------------------
Moz one million troy ounces
Mineralisation the process or processes by
which a mineral is introduced
into a rock, resulting in
a valuable or potentially
valuable deposit. It is a
general term, incorporating
various types; e.g., fissure
filling, impregnation, and
replacement
---------------------- ----------------------------------------
Mineralisation the process or processes by
which a mineral is introduced
into a rock, resulting in
a valuable or potentially
valuable deposit. It is a
general term, incorporating
various types; e.g., fissure
filling, impregnation, and
replacement
---------------------- ----------------------------------------
oz(s) ounce (Troy 1 ounce is equal to 31.1034807
ounce) grammes
---------------------- ----------------------------------------
Pre-feasibility Study a preliminary study undertaken
to determine if it would be
worthwhile to proceed to the
feasibility study stage
---------------------- ----------------------------------------
Reverse Circulation Or RC drilling - uses rods
Drilling with inner and outer tubes,
the drill cuttings are returned
to surface inside the rods.
The drilling mechanism is
a pneumatic reciprocating
piston known as a hammer driving
a tungsten-steel drill bit.
---------------------- ----------------------------------------
This information is provided by RNS
The company news service from the London Stock Exchange
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