Arc Minerals Limited Zambia - Commencement of Drilling (8867B)
June 12 2019 - 1:00AM
UK Regulatory
TIDMARCM
RNS Number : 8867B
Arc Minerals Limited
12 June 2019
Arc Minerals Ltd / Epic: ARCM / Market: AIM / Sector: Mining
& Exploration
12 June 2019
Arc Minerals Ltd
('Arc' or the 'Company')
Zambia - Commencement of Drilling
Arc Minerals is pleased to announce that it has commenced an
initial 7,500-metre drilling programme at its Zamsort/Zaco Copper
Projects located in the Zambian Copperbelt, adjacent to world-class
operating copper mines.
Arc Minerals has appointed a local drilling contractor with
significant experience in the Copperbelt and two diamond drill rigs
have commenced drilling. The drilling programme is designed to test
the large Cheyeza anomaly as well as the Lumbeta and Muswema
targets in addition to other targets generated through the
comprehensive geophysical and soil sampling programme.
Nick von Schirnding, Executive Chairman of Arc Minerals
commented:
"We are very excited about this drilling programme. Over the
past year our technical team with the help of highly experienced
external exploration consultants have completed a detailed
geophysical survey and extensive soil sampling programme which has
yielded some excellent results indicating that we may have a number
of high-potential prospects within our Zamsort licence.
We have generated a large number of drilling targets from the
data and geological models and beginning with Cheyeza, one of our
highest-priority targets.
I look forward to reporting regularly on the progress of the
Zamsort drilling programme."
Please see the following links for updated maps following the
recent geochemical and geophysical studies:
Figure 1 Target location map and +50ppm copper in soils XRF
anomaly
http://www.arcminerals.com/zamsort50ppm
Figure 2 Contoured regional geochemistry copper in soils XRF
results
http://www.arcminerals.com/zamsortregionalxrf
Figure 3 Cheyeza region copper in soils XRF results
http://www.arcminerals.com/cheyezainfillxrf
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.
**ENDS**
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 and cobalt licence
in the Zambia Copperbelt, together with a convertible loan to
Zamsort which converts into approximately a five percent additional
equity interest in Zamsort.
-- 100% ownership of the Kremnica Mining Licence Area in
Slovakia which host the 1.3Moz AuEq Au PFS stage turec Gold
Project.
For more information visit www.arcminerals.com
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
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