Arc Minerals upbeat on maiden drill results from Cheyeza

The AIM-traded firm said the “significant” copper mineralisation was at hole 2, where it reported 25 metres at 1.05% copper from two metres depth.

It said that included 1.7% copper over 9.3 metres from 18.5m, which itself included 13.34% copper over 0.56 metres from 27.24 metres.

A third hole was drilled 200 meters south, which the board said showed “significant” mineralisation.

Both rigs had now been deployed at Cheyeza East, the directors explained.

Arc Minerals said the Cheyeza Target Area was one of several areas identified by both the geophysics and geochemistry work programs completed last year.

As it reported on 5 June, of particular interest was a three kilometre-by-800 metre area at Cheyeza East, where up to 2,792 parts per million copper had been identified in the soils, and where those initial holes were drilled.

Drilling was continuing at the anomaly to test its full extent, both along strike and down dip.

“These maiden drill results have exceeded all our expectations both in terms of grade and thickness,” said Arc Minerals executive chairman Nick von Schirnding.

“While we are still at an early stage in the drilling programme, these results are highly encouraging and we have now deployed two rigs to Cheyeza East.

“Importantly our third hole 200 meters south also shows significant mineralisation.”