TIDMARCM
RNS Number : 8921O
Arc Minerals Limited
15 June 2022
15 June 2022
Arc Minerals Ltd
('Arc Minerals' or the 'Company')
Arc Commences with Maiden Botswana Exploration Programme
Arc Minerals the Africa focussed copper company is pleased to
report the commencement of its maiden exploration programme at its
Virgo Project in Botswana, with a soil geochemistry survey
currently underway to be followed by an exploratory drill
programme.
Highlights
-- Re-interpretation of the geology in license PL 135/2017
suggests the existence of a fold crest that presents a good
opportunity to extend the previous soil sampling grid along the
fold limb to this crest
-- Both PL 135/2017 & PL 162/2017 license areas host the
contact between Ngwako Pan ("NPF") and D'Kar ("DKF") Formations
that are favourable for hosting Cu-Ag mineralisation
-- The historically sampled areas within the two licenses
indicate DKF-NPF contact and further sampling will assist to zone
in on this contact
-- Exploration drilling to follow and test DKF-NPF contact zone
areas as well as interpreted fold crest targeting the known and any
new anomalies that may be generated from the soil geochemistry
survey
Nick von Schirnding, Executive Chairman of Arc Minerals,
commented:
"Following the acquisition of Alvis-Crest (Propriety) Limited
late last year the team has reviewed the previous work carried out
in the respective license areas and put forward our maiden
exploration programme to further refine our geological
understanding before commencing with an exploratory drill
programme.
These licenses lie within and adjacent to the highly prospective
Central Structural Corridor of the Kalahari Copper Belt ("KCB") and
within 10km and 50km of Khomecau's Zone 5 and Banana Zone copper
projects respectively, known as the two largest copper projects on
the KCB.
Further these licenses already host two known copper-nickel
anomalies, both 2-3km in length overlying the favourable
interpreted DKF-NPF contact that have yet to be drill tested and
now potentially may have further targets. This is an extremely
exciting time for the Company and these license areas."
Background to the Soil Geochemistry Survey
The previous soil geochemistry survey across the Virgo Project
("Virgo") that consists of PL 135/2017 & PL 162/2017 license
areas, provided encouraging results for potential mineralisation
along the DKF-NPF contact.
Figure 1. Historical and Recent Soil Geochemistry Sampling -
Virgo Project Area
http://www.rns-pdf.londonstockexchange.com/rns/8921O_1-2022-6-14.pdf
PL135/2017 License Area
At the PL 135/2017 license area, the reinterpretation of the
geology, mostly under cover of the Kalahari Sands, suggests the
existence of a fold crest running through the middle of the license
area, with favourable soil geochemistry that itself is already a
target of interest.
Furthermore, the southern limb to this interpreted crest runs
adjacent to Khomecau's Zone 9 exploration target, which is located
on the edge of the Virgo license boundary, which supports extending
the soil geochemistry survey along this interpreted limb towards
Zone 9.
A total of nine lines averaging 1,000m long are being sampled at
25m intervals along the survey line and samples collected sent off
for analysis.
Figure 2. Soil geochemistry survey across the interpreted fold
limb
http://www.rns-pdf.londonstockexchange.com/rns/8921O_2-2022-6-14.pdf
PL162/2017 License Area
Similarly, at this license area, reinterpretation of the geology
has refined geological understanding and position of the DKF-NPF
contact, indicating the need complete a soil geochemistry survey in
the south-eastern margin of the license area.
A total of seven lines averaging 500m long will be sampled at
25m intervals along the survey line and sampled collected sent off
for analysis.
Figure 3. Proposed area for soil sampling within PL162/2017
http://www.rns-pdf.londonstockexchange.com/rns/8921O_3-2022-6-14.pdf
About the Virgo Project
In November 2021, Arc Minerals Limited acquired a 75% interest
in Alvis-Crest (Proprietary) Limited, the holder of two prospecting
licences (PL 135/2017 & PL 162/2017) in Botswana's Kalahari
Copper Belt ("KCB"), colloquially called the Virgo
Project/Licences. These licenses, cover and area of over 210km (2)
, with PL 135/2017 approximately 10km south east of the large
underground Khoemacau Copper mine recently commissioned by Cupric
Canyon Capital LP.
Please see the below link to a map of the licences:
http://www.rns-pdf.londonstockexchange.com/rns/8921O_4-2022-6-14.pdf
The Virgo Licenses cover an area of over 210km(2) and lie within
(PL 165/2017) and adjacent (PL 135/2017) to the highly prospective
Central Structural Corridor and within 10km and 50km of the Zone 5
and Banana Zone copper projects respectively, known as the two
largest copper projects on the KCB.
Historically, two copper-nickel soil anomalies have already been
recorded on PL 135/2017 and PL 162/2017 and are approximately 3km
and 2.5km in strike length respectively. The largest of the two
anomalies, located on PL 135/2017, overlays an interpreted DKF-NPF
contact, while a second more intermittent anomaly may be linked to
extensional faulting around the dome edge. The large coherent
anomaly on PL 162/2017, also appears to overlay the interpreted
DKF-NPF contact on the northern limb of a syncline.
Qualified Persons
Mr Vassilios Carellas (BSc (Hons), MAusIMM) is the Chief
Operating Officer for Arc Minerals and has sufficient experience
relevant to the style of mineralisation and type of deposit under
consideration and to the activity which he is undertaking to
qualify as a Competent Person as defined under the JORC Code
(2012). Mr Carellas consents to the inclusion in this announcement
of the technical matters based on his information in the form and
context in which it appears.
Market Abuse Regulation (MAR) Disclosure
This announcement contains inside information for the purposes
of Article 7 of the Market Abuse Regulation (EU) 596/2014 as it
forms part of UK domestic law by virtue of the European Union
(Withdrawal) Act 2018 ("MAR"), and is disclosed in accordance with
the Company's obligations under Article 17 of MAR.
**S**
For more information visit www.arcminerals.com .
Contacts
Arc Minerals Ltd
Nick von Schirnding (Executive
Chairman) +44 (0) 20 7917 2942
SP Angel (Nominated Adviser
& Joint Broker)
Ewan Leggat / Adam Cowl +44 (0) 20 3470 0470
WH Ireland Limited (Joint Broker)
Harry Ansell / Katy Mitchell +44 (0) 20 7220 1666
Forward-looking Statements
This news release contains forward-looking statements that are
based on the Company's current expectations and estimates.
Forward-looking statements are frequently characterised by words
such as "plan", "expect", "project", "intend", "believe",
"anticipate", "estimate", "suggest", "indicate" and other similar
words or statements that certain events or conditions "may" or
"will" occur. Such forward-looking statements involve known and
unknown risks, uncertainties and other factors that could cause
actual events or results to differ materially from estimated or
anticipated events or results implied or expressed in such
forward-looking statements. Such factors include, among others: the
actual results of current exploration activities; conclusions of
economic evaluations; changes in project parameters as plans
continue to be refined; possible variations in ore grade or
recovery rates; accidents, labour disputes and other risks of the
mining industry; delays in obtaining governmental approvals or
financing; and fluctuations in metal prices. There may be other
factors that cause actions, events or results not to be as
anticipated, estimated or intended. Any forward-looking statement
speaks only as of the date on which it is made and, except as may
be required by applicable securities laws, the Company disclaims
any intent or obligation to update any forward-looking statement,
whether as a result of new information, future events or results or
otherwise. Forward-looking statements are not guarantees of future
performance and accordingly undue reliance should not be put on
such statements due to the inherent uncertainty therein.
Glossary of Technical Terms
"anomaly or anomalous" something in mineral exploration that geologists
interpret as deviating from what is standard,
normal, or expected.
The laboratory test conducted to determine
"assay" the proportion of a mineral within a rock
or other material. For copper, usually reported
as percentage which is equivalent to percentage
of the mineral (i.e. copper) per tonne of
rock.
----------------------------------------------------------
"azimuth" the "compass direction" refers to a geographic
bearing or azimuth as measured by a magnetic
compass, in true or magnetic north.
----------------------------------------------------------
"bornite" Bornite, also known as peacock ore, is a copper
sulphide mineral with the formula Cu(5) FeS(4)
.
----------------------------------------------------------
"breccia" Breccia is a rock classification, comprises
millimetre to metre-scale rock fragments cemented
together in a matrix, there are many sub-classifications
of breccias.
----------------------------------------------------------
"chalcocite" Chalcocite is a copper sulphide mineral with
the formula Cu(2) S and is an important copper
ore mineral. It is opaque and dark-gray to
black with a metallic luster.
----------------------------------------------------------
"chalcopyrite" Chalcopyrite is a copper sulphide mineral
with formula CuFeS(2) . It has a brassy to
golden yellow colour.
----------------------------------------------------------
"chargeability" Chargeability is a physical property related
to conductivity. Chargeability is used to
characterise the formation and strength of
the induced polarisation within a rock, under
the influence of an electric field, suggesting
sulphide mineralisation at depth.
----------------------------------------------------------
"covellite" Covellite is a copper sulphide mineral with
the formula CuS. This indigo blue mineral
is ubiquitous in some copper ores.
----------------------------------------------------------
"diamond drilling" A drilling method in which penetration is
achieved through abrasive cutting by rotation
of a diamond encrusted drill bit. This drilling
method enables collection of tubes of intact
rock (core) and when successful gives the
best possible quality samples for description,
sampling and analysis of an ore body or mineralised
structure.
----------------------------------------------------------
"dip" A line directed down the steepest axis of
a planar structure including a planar ore
body or zone of mineralisation. The dip has
a measurable direction and inclination from
horizontal.
----------------------------------------------------------
"geochemical" Refers to geological information using measurements
derived from chemical analysis
----------------------------------------------------------
"geophysical" Refers to geological information using unit
measurements derived from the use of magnetic
and electrical readings
----------------------------------------------------------
"geophysical techniques" include the exploration of an area by exploiting
differences in physical properties of different
rock types. Geophysical methods include seismic,
magnetic, gravity, induced polarisation and
other techniques; geophysical surveys can
be undertaken from the ground or from the
air
----------------------------------------------------------
"gossan" is an iron-bearing weathered product that
usually overlies a sulphide deposit
----------------------------------------------------------
"grab sample" are samples of rock material collected from
a small area, often just a few pieces or even
a single piece of rock "grabbed" from a face,
dump or outcrop or roughly 2-5kg. These are
common types of rock samples collected when
conducting mineral exploration. The sample
usually consists of material that is taken
to be representative of a specific type of
rock or mineralisation.
----------------------------------------------------------
"grade" The proportion of a mineral within a rock
or other material. For copper mineralisation
this is usually reported as % of copper per
tonne of rock.
----------------------------------------------------------
"g/t" grams per tonne; equivalent to parts per million
('ppm')
----------------------------------------------------------
"hematite" Hematite is the mineral form of iron(III)
oxide (Fe(2) O(3) ), one of several iron oxides.
Magnetite alteration is also typically associate
with porphyry copper systems, at or close
to the central core.
----------------------------------------------------------
"Indicated Resource" An "Indicated Mineral Resource" is that part
of a Mineral Resource for which quantity,
grade or quality, densities, shape and physical
characteristics, can be estimated with a level
of confidence sufficient to allow the appropriate
application of technical and economic parameters,
to support mine planning and evaluation of
the economic viability of the deposit. The
estimate is based on detailed and reliable
exploration and testing information gathered
through appropriate techniques from locations
such as outcrops, trenches, pits, workings
and drill holes that are spaced closely enough
for geological and grade continuity to be
reasonably assumed.
----------------------------------------------------------
"Inferred Resource" An "Inferred Mineral Resource" is that part
of a Mineral Resource for which quantity and
grade or quality can be estimated on the basis
of geological evidence and limited sampling
and reasonably assumed, but not verified,
geological and grade continuity. The estimate
is based on limited information and sampling
gathered through appropriate techniques from
locations such as outcrops, trenches, pits,
workings and drill holes.
----------------------------------------------------------
"Induced Polarisation Induced polarisation (IP) is a geophysical
Geophysics" survey used to identify the electrical chargeability
of subsurface materials, such as sulphides.
The survey involves an electric current that
is transmitted into the subsurface through
two electrodes, and voltage is monitored through
two other electrodes.
----------------------------------------------------------
"intercept" Refers to a sample or sequence of samples
taken across the entire width or an ore body
or mineralised zone. The intercept is described
by the entire thickness and the average grade
of mineralisation.
----------------------------------------------------------
"JORC Code" The Australasian Code for Reporting of Exploration
Results, Mineral Resources and Ore Reserves
('the JORC Code') is a professional code of
practice that sets minimum standards for Public
Reporting of minerals Exploration Results,
Mineral Resources and Ore Reserves .
----------------------------------------------------------
"K" The element potassium, abundance on surface
can be inferred from radiometric surveys
----------------------------------------------------------
"Magnetics" Rocks are made up of different minerals and
the magnetic properties of a rock depends
on the amount and type of iron rich minerals
it contains. Earth's magnetic field interacts
with these iron rich minerals to generate
variations in the magnetic field. Measuring
and mapping these variations allows remotely
mapping of the distribution and patterns of
magnetic rocks and, as a result, map the subsurface
geology
----------------------------------------------------------
"magnetite" Magnetite is main iron ore mineral, with chemical
formula Fe(3) O(4) . Magnetite is ferromagnetic,
and it is attracted to a magnet and can be
magnetized to become a permanent magnet itself.
----------------------------------------------------------
"massive" In a geological sense, refers to a zone of
mineralisation that is dominated by sulphide
minerals. The sulphide-mineral-rich material
can occur in centimetre-scale, metre-scale
or in tens of metres wide veins, lenses or
sheet-like bodies containing sphalerite, galena,
and / or chalcopyrite etc.
----------------------------------------------------------
"Measured Resource" A "Measured Mineral Resource" is that part
of a Mineral Resource for which quantity,
grade or quality, densities, shape, and physical
characteristics are so well established that
they can be estimated with confidence sufficient
to allow the appropriate application of technical
and economic parameters, to support production
planning and evaluation of the economic viability
of the deposit. The estimate is based on detailed
and reliable exploration, sampling and testing
information gathered through appropriate techniques
from locations such as outcrops, trenches,
pits, workings and drill holes that are spaced
closely enough to confirm both geological
and grade continuity.
----------------------------------------------------------
"Mineral Resource" A "Mineral Resource" is a concentration or
occurrence of diamonds, natural solid inorganic
material, or natural solid fossilised organic
material including base and precious metals,
coal, and industrial minerals in or on the
Earth's crust in such form and quantity and
of such a grade or quality that it has reasonable
prospects for economic extraction. The location,
quantity, grade, geological characteristics
and continuity of a Mineral Resource are known,
estimated or interpreted from specific geological
evidence and knowledge.
----------------------------------------------------------
"mineralisation" In geology, mineralisation is the deposition
of economically important metals (copper,
gold, lead, zin etc) that in some cases can
be in sufficient quantity to form mineral
ore bodies.
----------------------------------------------------------
"open pit mining" A method of extracting minerals from the earth
by excavating downwards from the surface such
that the ore is extracted in the open air
(as opposed to underground mining).
----------------------------------------------------------
"outcrop" A section of a rock formation or mineral vein
that appears at the surface of the earth.
Geologists take direct observations and samples
from outcrops, used in geologic analysis and
creating geologic maps. In situ (in place)
measurements are critical for proper analysis
of the geology and mineralisation of the area
under investigation.
----------------------------------------------------------
"polymict" A geology term, often applied to breccias
or conglomerates, which identifies the composition
as consisting of fragments of several different
rock types.
----------------------------------------------------------
"Preliminary Economic NI 43-101 defines a PEA as "a study, other
Assessment" than a pre-feasibility study or feasibility
study, which includes an economic analysis
of the potential viability of mineral resources".
----------------------------------------------------------
"Pyrrhotite" Pyrrhotite is an iron sulfide mineral with
the formula Fe(1-x)S (x = 0 to 0.2). It is
a nonstoichiometric variant of FeS, the mineral
known as troilite . Pyrrhotite is also called
magnetic pyrite
----------------------------------------------------------
"Radiometrics" The radiometric, or gamma-ray spectrometric
method is a geophysical process used to estimate
concentrations of the radioelements potassium,
uranium and thorium by measuring the gamma-rays
which the radioactive isotopes of these elements
emit during radioactive decay
----------------------------------------------------------
"sediments" Sedimentary rocks formed by the accumulation
of sediments. There are three types, Clastic,
Chemical and Organic sedimentary rocks.
----------------------------------------------------------
"sphalerite" Sphalerite is a zinc sulphide in crystalline
form but almost always contains variable iron,
with formula (Zn,Fe)S. It can have a yellowish
to honey brown or black colour.
----------------------------------------------------------
"supergene" Supergene ore processes occur near surface,
and form deposits of secondary minerals, such
as malachite, azurite, chalcocite, covellite,
digenite, etc.
----------------------------------------------------------
"surface rock chip samples" Rock chip samples approximately 2kg in size
that are typically collected from surface
outcrops exposed along rivers and mountain
ridgelines.
----------------------------------------------------------
"Th" The element thorium, abundance on surface
can be inferred from radiometric surveys
----------------------------------------------------------
"U" The element uranium, abundance on surface
can be inferred from radiometric surveys
----------------------------------------------------------
"veins" A vein is a sheet-like or anastomosing fracture
that has been infilled with mineral ore (chalcopyrite,
covellite etc) or mineral gangue (quartz,
calcite etc) material, within a rock. Veins
form when minerals carried by an aqueous solution
within the rock mass are deposited through
precipitation and infill or coat the fracture
faces.
----------------------------------------------------------
"volcanics" Volcanic rock such as andesite or basalt that
is formed from magma erupted from a volcano,
or hot clastic material that erupts from a
volcano and is deposited as volcaniclastic
or pyroclastics.
----------------------------------------------------------
"XRF" Instrument to determine the chemistry of a
sample by measuring the fluorescent (or secondary)
X-ray emitted from a sample when it is excited
by a primary X-ray source
----------------------------------------------------------
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
RNS may use your IP address to confirm compliance with the terms
and conditions, to analyse how you engage with the information
contained in this communication, and to share such analysis on an
anonymised basis with others as part of our commercial services.
For further information about how RNS and the London Stock Exchange
use the personal data you provide us, please see our Privacy
Policy.
END
MSCFZGMVMDKGZZZ
(END) Dow Jones Newswires
June 15, 2022 02:00 ET (06:00 GMT)
Arc Minerals (LSE:ARCM)
Graphique Historique de l'Action
De Jan 2025 à Fév 2025
Arc Minerals (LSE:ARCM)
Graphique Historique de l'Action
De Fév 2024 à Fév 2025
