Arc Minerals, collaborating with Anglo American, has announced significant copper assay results from its exploration activities in Zambia. Notable findings from recent drillings indicate strong mineralization, up to 1.72% copper. The Joint Venture aims to explore one of the last mineral-rich areas in Zambia’s Copperbelt, with the potential for considerable investment and operational growth in copper mining.
Arc Minerals, listed as LON:ARCM, is an exploration company engaged in uncovering high-grade copper deposits. Recently, the company provided important updates regarding its Joint Venture (JV) with a subsidiary of Anglo American in Zambia. Company executives Nick von Schirnding and Vassili Carellas discussed the implications of recent assay results, the potential for discovering significant copper deposits, and the overall stability of Arc Minerals moving forward.
Significant findings include diamond drill hole KCDD002 reporting 40.60m at 0.61% copper, and notable intervals of 12.75m at 1.20% copper as well as 7.70m at 1.72% copper. These intersections indicate mineralization approximately 1.5km from the known Cheyeza East Oxide Occurrence, confirming mineralization in both oxide and sulphide forms. Six drill holes have been executed, totaling 4,016m, with the deepest reaching 977.40m.
Nick von Schirnding remarked on the excitement surrounding the initial results from the Anglo JV, which validate near-surface copper mineralization at Cheyeza. Ongoing efforts aim to discover further drilling targets at this site and explore the extent of sulphide mineralization. The results from hole KCDD002 are promising, mirroring historically high grades previously documented in the area.
Past drilling has showed encouraging results, including 18m at 2.35% copper, further supporting the viability of the copper deposits in the region. The recent findings suggest that new oxide mineralization may be the result of weathering from local sulphide mineralization below it. Additionally, assay results from Nkwazhi also indicated low-grade sulphide mineralization.
Arc Minerals has established a Joint Venture Agreement with Anglo American to enhance exploration efforts across its Zambian Copper Project, covering roughly 870 km² in the rich North Western Province. This area lies close to major mining operations, making it a prime exploration location and a potential area for significant copper mining advancements.
The JV agreement outlines three phases, with Anglo American making staged cash payments totaling $38.5 million, coupled with exploration commitments over approximately five years. Upon completion, Anglo may gradually earn up to a 70% interest in the project, illustrating a strong commitment to advancing copper mining in Zambia.
The focus of Arc Minerals is on exploring and developing high-potential copper deposits, particularly through strategic partnerships. The Joint Venture with Anglo American enables a larger resource investment towards prospecting unexplored areas in Zambia’s Copperbelt, a region rich in mineral resources, known for its proximity to established mining operations. This partnership aims to effectively explore and potentially extract copper in a region keen on revitalizing investment and mining operations.
Arc Minerals has showcased promising assay results from its recent drillings in Zambia, particularly noting significant copper mineralization intersections. The ongoing partnership with Anglo American underlines a strategic move to increase exploration efforts in an investment-rich area. Through the Joint Venture Agreement, the potential for discovering substantial copper deposits appears optimistic, which could greatly benefit both companies and enhance local mining activities.
Original Source: www.directorstalkinterviews.com
