Arc Minerals interesects 'encouraging' copper mineralisation in Zambia

Arc Minerals confirmed on Wednesday that it has intersected "significant" copper mineralisation at the Kalaba Cobalt-Copper project in the Zambia copper belt.

The mining and exploration firm said higher copper grade mineralisation had been intersected in the sulphide zone to the north of the Kalaba open pit approaching 1% copper and 0.1% cobalt, while further high-grade cobalt and copper oxide mineralisation for its commercial scale and demonstration (CSD) plant was intersected at the surface.

Nick von Schirnding, executive chairman of Arc Minerals, said: "These results are once again very encouraging, in particular, the increasing grade of copper mineralisation that is being intersected in what is the sulphide zone to the north of the oxide pit, with the average grade of the mineralisation from one of the holes approaching 1% Cu and 0.1% Co."

The front end of the company’s CSD plant has also now been completed, comprising two crushers, screen, a ball mill, and conveyors with the section capable of processing 10,000 tonnes per month.

Commercial production is expected to commence in a few weeks, shortly after the completion of the rear of the plant.

"The recent drilling has now confirmed sufficient oxide feed for the plant together with the existing stockpiled material. I am particularly pleased that the Capex for completing the plant has come in under budget at US$300,000," said von Schirnding.

Arc’s shares were up 3.64% at 2.85p at 1643 GMT.