22nd Sep 2021 10:01
(Alliance News) -Â Arc Minerals Ltd on Wednesday said drilling has intersected "massive" sulphide copper mineralisation at Cheyeza East, Zambia.
Shares in copper and cobalt explorer Arc Minerals were up 25% at 4.16 pence in London on Wednesday morning.
The first hole which is currently being drilled, around 500 metres to the northwest of the previous oxide drilling campaign, has intersected massive and disseminated copper sulphide mineralisation, confirmed by both visual observations and X-Ray Fluorescence analyses, Arc said.
"This represents the most significant copper sulphide discovery since the company's various drilling campaigns started," it said.
Arc added that, at Fwiji, the fourth hole out of a four-hole programme testing a coincident soil and magnetic linear anomaly, around 2.5 kilometres southwest of last year's drilling, has intersected copper sulphide mineralised quartz veins and associated alteration zones.
Executive Chair Nick von Schirnding said: "The intersection of massive sulphide copper mineralisation at Cheyeza East provides strong support for big mineralised systems at play and provides 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."
By Lucy Heming;Â [email protected]
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