Arc Minerals Limited NPV (DI) (ARCM)

Sector:

Financials

Index:

FTSE AIM All-Share

1.66p
   
  • Change Today:
    -0.063p
  • 52 Week High: 4.40
  • 52 Week Low: 1.66
  • Currency: UK Pounds
  • Shares Issued: 1,467.81m
  • Volume: 5,171,908
  • Market Cap: £24.40m

Arc Minerals surges on latest drilling in Zambia

By Josh White

Date: Wednesday 22 Sep 2021

LONDON (ShareCast) - (Sharecast News) - Arc Minerals confirmed on Wednesday that the diamond drilling programme on its majority-controlled licences in north-western Zambia had intersected massive sulphide copper mineralisation at Cheyeza East.
The AIM-traded firm said the first hole, which was currently being drilled about 500 metres to the north west of the previous oxide drilling campaign, had intersected "massive and disseminated" copper sulphide mineralisation, confirmed by both visual observations of the core and x-ray fluorescence (XRF) analyses.

It said that represented the most significant copper sulphide discovery since the company's various drilling campaigns started.

Similarly, at Fwiji, the fourth hole out of a four-hole programme testing a coincident soil and magnetic linear anomaly, 2.5 kilometres southwest of last year's drilling, had intersected copper sulphide mineralised quartz veins and associated alteration zones.

The company said the diamond drill holes were currently being processed, and would be sent off for assaying imminently, once the core was logged and processed.

"This is the most significant copper sulphide discovery since we started drilling four years ago," said executive chairman Nick von Schirnding.

"Initial XRF data indicate significant grades of copper mineralisation - a potential game changer for us."

Von Schirnding said the intersection of massive sulphide copper mineralisation at Cheyeza East provided "strong support" for big mineralised systems at play, and provided a marker horizon for further targeting in the wider Cheyeza area.

"As a result of the recent discoveries we are currently reviewing and expanding our drilling and airborne geophysics programmes."

At 1244 BST, shares in Arc Minerals were up 23.53% at 4.11p.

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ARCM Market Data

Currency UK Pounds
Share Price 1.66p
Change Today -0.063p
% Change -3.62 %
52 Week High 4.40
52 Week Low 1.66
Volume 5,171,908
Shares Issued 1,467.81m
Market Cap £24.40m

ARCM Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
33.69% below the market average33.69% below the market average33.69% below the market average33.69% below the market average33.69% below the market average
50.48% below the sector average50.48% below the sector average50.48% below the sector average50.48% below the sector average50.48% below the sector average
Price Trend
75.54% below the market average75.54% below the market average75.54% below the market average75.54% below the market average75.54% below the market average
74.14% below the sector average74.14% below the sector average74.14% below the sector average74.14% below the sector average74.14% below the sector average
Income Not Available
Growth Not Available

ARCM Dividends

No dividends found

Trades for 28-Mar-2024

Time Volume / Share Price
15:44 200,000 @ 1.70p
15:43 250,000 @ 1.70p
15:35 50,000 @ 1.68p
15:32 102,103 @ 1.68p
15:11 100,000 @ 1.68p

ARCM Key Personnel

Finance Director Rémy Welschinger

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