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ARCM Arc Minerals Limited

1.725
0.00 (0.00%)
Last Updated: 08:00:00
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Arc Minerals Limited LSE:ARCM London Ordinary Share VGG045791016 ORDS NPV (DI)
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 1.725 1.70 1.75 1.725 1.725 1.725 1,334,562 08:00:00
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Investors, Nec 0 -7.34M -0.0060 -2.87 21.2M

Arc Minerals Limited Maiden Botswana Exploration Programme (8921O)

15/06/2022 7:00am

UK Regulatory


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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 
                              ---------------------------------------------------------- 
 

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June 15, 2022 02:00 ET (06:00 GMT)

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