https://www.miningweekly.com

Arc begins maiden exploration drilling programme in Botswana

15th August 2022

By: Tasneem Bulbulia

Senior Contributing Editor Online

     

Font size: - +

Aim-listed Arc Minerals has announced the start of its maiden exploration drilling programme at its Virgo project, in Botswana.

This maiden drill programme is designed to test geochemical anomalies identified in the Virgo licences located within the highly prospective Central Structural Corridor of the Kalahari Copper Belt (KCB).

The initial programme will start off with shallow percussion holes that will be followed up by reverse circulation and diamond core drill holes targeting the interpreted Ngwako Pan / D'Kar Formation contacts in these licences.

Anomalies extend for 3 km and 2.5 km along the interpreted contact, respectively.

Relatively shallow Kalahari Sands cover is expected.

“The KCB is increasingly becoming one of the most prospective copper belts and I am delighted that we have now commenced with our maiden drill programme.

“The initial percussion holes will be used to define the location of the interpreted Ngwako Pan and D'Kar Formation contact, following which this contact will be drill tested,” says executive chairperson Nick von Schirnding.

Meanwhile, he informs that with respect to the Anglo American transaction in Zambia, considerable progress has been made with providing the requested information as part of the due diligence process.

Arc in May entered into an agreement with a subsidiary of Anglo American, which formalises the parties’ intention to form a joint venture with respect to Arc’s copper/cobalt project in the North-Western province of Zambia.

“However, this is ongoing, in part impacted due to recent temporary closures of the Mining Cadastre by the Zambian Ministry of Mines and the confirmation of certain information relating to the exploration licences,” he outlines.

Accordingly, a second 90-day exclusivity period will begin to allow sufficient time for the conclusion of the due diligence and the negotiation and execution of the joint venture documents as contemplated in the original announcement in May relating to the transaction.

Edited by Chanel de Bruyn
Creamer Media Senior Deputy Editor Online

Comments

The functionality you are trying to access is only available to subscribers.

If you are already a subscriber, you can Login Here.

If you are not a subscriber, you can subscribe now, by selecting one of the below options.

For more information or assistance, please contact us at subscriptions@creamermedia.co.za.

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION