LONDON (ShareCast) - (Sharecast News) - Arc Minerals reported assay results confirming an extension of copper mineralisation at its joint venture project with a subsidiary of Anglo American in Zambia on Tuesday.
The AIM-traded company said that drilling at the KCDD002 hole intersected 40.60 metres at 0.61% copper from a depth of 22.25 metres, including higher-grade sections of 7.70 metres at 1.72% copper and 12.75 metres at 1.20% copper.

It said the results confirmed mineralisation 1.5 kilometres from the Cheyeza East Oxide Occurrence, with both oxide and sulphide mineralisation intersected.

Six drill holes had been completed across four targets, with a total of 4,016 metres drilled.

The deepest hole reached a depth of 977.40 metres.

Arc also confirmed the presence of sulphide mineralisation at the Nkwazhi target.

The company said it was continuing exploration activities at the project as it looked to develop a tier one copper deposit in partnership with Anglo American.

"I am delighted to report that the first assay results of the Anglo JV confirm additional near-surface copper mineralisation at the Cheyeza target," said executive chairman Nick von Schirnding.

"The newly drilled mineralisation is similar to historic assays in terms of both grade and thickness and is over 1.5 kilometres away from Cheyeza.

"Work is now underway to identify further potential drilling targets at Cheyeza to test the extents of sulphide mineralisation."

At 1351 GMT, shares in Arc Minerals were up 4.8% at 1.57p.

Reporting by Josh White for Sharecast.com.

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