Aim-listed Arc Minerals has acquired a further 5% interest in Zamsort, the operator of the Kalaba copper/cobalt project, in Zambia.
It now owns 66% of Zamsort, with the other 34% interest held by Kopara Investments.
“This is a yet another step forward in consolidating our ownership in Zamsort and to increase Arc's exposure to this large and exciting copper/cobalt asset,” Arc chairperson Nick von Schirnding said on Wednesday.
Arc has started an 11 000 m drilling programme, comprising 6 600 m of diamond drilling and 4 400 m of reverse circulation drilling, at the project. The programme is aimed at delineating a shallow oxide resource for a commercial-scale demonstration plant, as well as to establish a maiden mineral resource estimate at Kalaba.