Arc Minerals announced new copper mineralisation findings in Zambia’s Cheyeza target, confirming near-surface mineralisation 1.5 km east of existing occurrences. The initial assay results mirror historic quality, with plans for further exploration underway. The stock price increased by 7.8% to 1.62 pence amid ongoing operations.
Arc Minerals Ltd, a copper exploration company, has announced significant findings in Zambia due to its ongoing diamond drilling campaign at the Cheyeza target, in collaboration with Anglo American PLC’s subsidiary. The first assay results have revealed near-surface copper mineralisation at a new site approximately 1.5 kilometers east of the known oxide occurrence. These findings show promising characteristics in terms of mineral quality, paralleling historic assay data regarding both grade and thickness, which bodes well for future exploration efforts.
The exploration efforts conducted by Arc Minerals primarily focus on identifying and developing copper resources within Africa, particularly in Zambia, which is known for its rich mining landscape. The Cheyeza target is strategically important for the company, as it seeks to expand its mineral resource base. The collaboration with a recognized entity like Anglo American PLC enhances their capacity for detailed exploration and successful identification of new mineral sites, thus supporting economic goals in the mining sector.
The recent discoveries at the Cheyeza target demonstrate promising advancements for Arc Minerals in locating new mineralisation, crucial for expanding their copper mining prospects. The planned further drilling evaluations signify a proactive approach to understanding the full potential of the site. Despite the current stock price reflecting a decline over the past year, the positive assay results suggest potential for recovery based on future discoveries.
Original Source: www.marketscreener.com
