Arc Minerals Ltd revealed positive assay results from its joint venture with Anglo American in Zambia, showing 0.6% copper over 40 meters and high-grade segments of 1.7% copper. The project is viewed as economically viable due to copper levels above 0.5%. With Anglo investing nearly $90 million, Arc is ready for an active exploration year.
Arc Minerals Ltd has announced promising assay results from its joint venture with Anglo American in Zambia. During the Mining Indaba conference, executive chairman Nick von Schirnding highlighted the discovery of substantial copper mineralization, particularly noting a 0.6% copper grade over a width of 40 meters, and remarkable high-grade sections exhibiting 1.7% copper over eight meters. Von Schirnding stated that any copper content at or above 0.5% is deemed economically viable, underscoring the project’s potential.
The recent find also indicates the presence of sulfides beneath the oxide zone, which may suggest the existence of a significant copper deposit. Von Schirnding characterized the deal with Anglo American as a landmark opportunity for junior exploration companies, with Anglo committing nearly $90 million to the venture, of which $14.5 million is directly allocated to Arc Minerals.
With a solid financial stance and vast exploration assets, Arc Minerals is preparing for an active and productive year ahead. Von Schirnding expressed optimism about future developments and ongoing evaluation of their exploration areas, anticipating further positive outcomes from the joint venture.
The context of this article revolves around Arc Minerals’ collaboration with Anglo American, which is structured as a joint venture aimed at exploring copper deposits in Zambia. The significance of the assay results presented is pivotal as it not only evaluates the copper content but also assesses the economic viability of the mining projects. Industry events like the Mining Indaba conference provide a platform for such revelations, allowing companies to showcase their progress to investors and stakeholders.
In summary, Arc Minerals has reported encouraging findings from its collaboration with Anglo American, highlighting substantial near-surface copper mineralization and indicating potential for a major deposit. The joint venture represents a significant investment, with a focus on increasing exploration and optimizing resource extraction in Zambia. With promising assays and financial backing, Arc Minerals is poised for a successful year in mining.
Original Source: www.proactiveinvestors.co.uk
