REG - Arc Minerals Limited - Drilling Results Confirm Copper Mineralisation
14/11/2024 07:00
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RNS Number : 1687M Arc Minerals Limited 14 November 2024
14 November 2024, 07:00 UTC
The information contained within this announcement is deemed by the Company to
constitute inside information as stipulated under the Market Abuse Regulations
(EU) No. 596/2014 (MAR) as in force in the United Kingdom pursuant to the
European Union (Withdrawal) Act 2018. Upon the publication of this
announcement via Regulatory Information Service (RIS), this inside information
will be in the public domain.
Arc Minerals Ltd
('Arc' or the 'Company')
Drilling Results Confirm Copper Mineralisation
Arc Minerals (LSE: ARCM), an exploration company forging partnerships to
discover and develop Tier 1 copper deposits, is pleased to announce results
from the recently completed drilling programme at its PL135/2017 license that
forms part of its Virgo Project within the highly prospective Central
Structural Corridor of the Kalahari Copper Belt ('KCB') in the Republic of
Botswana.
Highlights
· First phase drill programme completed with a total of 3,000m drilled
· Copper-Silver Mineralisation Intersected
· Diamond drill hole ALV-DD-004 - 3m @ 1.29% CuEq within a broader 6m @
0.82% CuEq
· Geological, Stratigraphic and Structural setting similar to MMG's
Zone 5
Nick von Schirnding, Executive Chairman of Arc Minerals, commented:
"I am very pleased to report that assay results from the first phase of
drilling at our Botswana project identified good copper mineralisation and
similar geological settings to neighbouring MMG's Zone 5. These results
confirm our view that we have economic grades of copper mineralisation
especially in the context of increasing interest by majors in our license.
We will continue our drill programme to target the inner copper zone,
presenting what we believe to be a further 5km strike along which to drill."
Background
The initial aim for the first phase drill campaign was to test for extensions
of the mineralisation intersected by MMG in their adjacent license, where 4.3m
@ 1.65% CuEq and 6.10m @ 2.56% CuEq were reported in holes HA-1393-D and
HA-1394-D (see Figure 1 and Appendix A.).
The Company completed eight holes for 3,000m drilled with diamond drill hole
ALV-DD-004 intersecting 3m @1.29% CuEq within a broader 6m @ 0.82% CuEq. Six
of the remaining seven holes drilled intersected elevated to anomalous copper
mineralisation with initial observations of the core displaying similar
geological, stratigraphic and structural settings to that of MMG's operating
Zone 5 underground mine.
Further review of the assay data and drill core suggests that the first phase
drill programme intersected mineralisation laterally on the fringe of the
copper zone, in the iron rich zone, the interpreted outer halo of the main
mineralised zone.
All the data is currently being assessed and planning put in place for a
second phase drill programme, that will vector away from the iron rich zone,
targeting the interpreted inner copper sulphide zone.
Figure 1. Virgo Project License PL 135/2017 First Phase Drill Plan
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.
For further information contact:
Arc Minerals
Ltd
c/o Benchmark Communications
Nick von Schirnding (Executive Chairman)
Zeus (Nominated Adviser & Joint Broker) Tel: +44 (0) 20 3829 5000
Katy Mitchell/Harry Ansell
Shard Capital Partners LLP (Joint Broker) Tel: +44 (0) 20 7186 9952
Damon Heath
Benchmark Communications (Investor Relations) Tel: +44 (0) 7841 67 3210
Richard Kauffer
For more information, visit www.arcminerals.com (http://www.arcminerals.com/)
.
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.
Background on the Virgo Licences
Licence PL 135/2017
The Company's prospecting licence PL135/2017 is surrounded on three sides by
the prospecting licences of Khoemacau Copper Mining Limited ("Khoemacau"), who
have recently been acquired by MMG for c.$1.9 billion.
This licence is located towards the south-eastern margin of the Kalahari
Copper Belt occupying a similar geological setting to that recently drilled by
Khoemacau at their recent Mawana Fold Discovery and the Zone 9 exploration
target, where economic grades of copper mineralisation have already been
intersected by drilling. These discoveries are located at the north-western
and south-eastern margins of the Company's prospecting licence, respectively.
Khoemacau's Mawana fold discovery has defined a possible economic zone of
copper mineralisation that appears to trend towards and into the Company's
licence PL 135/2017 (Figure 2.). The Company's recent scout drill holes
intersected anomalous grades of copper mineralisation close to this apparent
trend and confirmed an east-west trending DKF-NPF contact position
approximately 5km long running through the licence.
Figure 2. Image showing Khoemacau licence holding, operations, exploration and
expansion projects, in relation to Virgo Licenses.
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. Licence PL 135/2017 is approximately 10km
south-east of the large underground Khoemacau Copper mine recently
commissioned by Cupric Canyon Capital LP.
A map of the licences is available here:
http://www.rns-pdf.londonstockexchange.com/rns/3027T_1-2021-3-24.pdf
(http://www.rns-pdf.londonstockexchange.com/rns/3027T_1-2021-3-24.pdf)
The Virgo Licences 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.
**ENDS**
Appendix A
JORC Code, 2012 Edition - Table 1 Report
Section 1 Sampling Techniques and Data
Criteria JORC Code explanation Commentary
Sampling techniques · Nature and quality of sampling (eg cut channels, random chips, or Exploration work involved Reverse Circulation ('RC') and Diamond Drilling
specific specialised industry standard measurement tools appropriate to the ('DD'). Drilling conditions are well understood and double tube core recovery
minerals under investigation, such as down hole gamma sondes, or handheld XRF was used as ground is competent enough for better core recoveries.
instruments, etc). These examples should not be taken as limiting the broad
meaning of sampling.
· Include reference to measures taken to ensure sample representivity Half core samples (split core) were taken over the zones of interest, which
and the appropriate calibration of any measurement tools or systems used. were confirmed visually as well as by pXRF, in 1m intervals from the drill
core. Samples were taken consistently from the same side of the core cutting
· Aspects of the determination of mineralisation that are Material to line.
the Public Report.
· In cases where 'industry standard' work has been done this would be
relatively simple (eg 'reverse circulation drilling was used to obtain 1 m DD Core samples were processed using Industry standard practices of drying,
samples from which 3 kg was pulverised to produce a 30 g charge for fire crushing, splitting and pulverization at the ALS Laboratory in South Africa.
assay'). In other cases more explanation may be required, such as where there
is coarse gold that has inherent sampling problems. Unusual commodities or
mineralisation types (eg submarine nodules) may warrant disclosure of detailed
information. Split core samples received by ALS are dried, weighed, finely crushed to 70%
-2mm, following which a 250g split is pulverised to better than 85% passing 75
microns.
A total of 309 samples were analysed with ALS's High Grade Aqua Regia ICP-AES
for 30 elements with code ME-ICP41a with ore grade elements by Aqua Regia
digestion and ICP-AES (ME-OG46 method).
Ag by fire assay and gravimetric finish, 30g nominal weight (Ag-GRA21 method).
Drilling techniques · Drill type (eg core, reverse circulation, open-hole hammer, rotary Holes were collared with the RC drill using a Tricone through the Kalahari
air blast, auger, Bangka, sonic, etc) and details (eg core diameter, triple or Sands followed by a button-bit hammer down to above the zone of interest in
standard tube, depth of diamond tails, face-sampling bit or other type, the D'Kar Formation.
whether core is oriented and if so, by what method, etc).
DD drilling using a double tube core barrel extended the hole with NQ diameter
coring further into the D'Kar Formation and down through the contact and into
the Ngwako Pan Formation.
Core was routinely oriented using a Reflex core orientation tool.
Drill sample recovery · Method of recording and assessing core and chip sample recoveries and Core recoveries were measured after each drill run and any losses recorded on
results assessed. a standard log sheet. Core recoveries were generally greater than 90% .
· Measures taken to maximise sample recovery and ensure representative Samples were taken consistently from the same side of the core cutting line to
nature of the samples. avoid any bias. During the core cutting process, geologists frequently checked
on procedures to ensure the core cutter splits the core correctly in half.
· Whether a relationship exists between sample recovery and grade and
whether sample bias may have occurred due to preferential loss/gain of Core samples are selected on 1m lengths from logged core.
fine/coarse material.
Sample recovery was generally very good and as such it is not expected that
any bias exists.
Logging · Whether core and chip samples have been geologically and RC chip samples were analysed with a pXRF and logged from the RC chip trays
geotechnically logged to a level of detail to support appropriate Mineral even though they were not expected to contain any mineralisation of interest.
Resource estimation, mining studies and metallurgical studies.
Diamond drill core was geologically and geotechnically logged by a suitably
· Whether logging is qualitative or quantitative in nature. Core (or qualified geologist using predefined lithological, mineralogical and physical
costean, channel, etc) photography. (alteration, weathering , colour etc.) logging codes. Logged intervals are
based on both qualitative identifications of geological characteristics and
· The total length and percentage of the relevant intersections logged. semi-quantitative estimates of mineral abundance.
The detail of information captured would be sufficient to support appropriate
Mineral Resource Estimation as the geologists on site followed industry best
practice and standard operating procedures for diamond drill core processes.
All core is photographed as wet and dry and stored as digital records before
and after sampling.
Logging intervals are based on geological boundaries and or assigned nominal
length of one or one and half metres. The geological log incorporates
geotechnical parameters, lithology, weathering, alteration, veining and
geophysical magnetic susceptibility.
Electronic geological logs are created using Microsoft Excel logging templates
on laptop computers and saved. All geological logging to be stored in an
appropriate database software.
Sub-sampling techniques and sample preparation · If core, whether cut or sawn and whether quarter, half or all core Selected intervals of core were cut in half with a core cutting saw, with one
taken. half selected for further analysis and the other half place back in the core
box at the exact same location that it was taken.
· If non-core, whether riffled, tube sampled, rotary split, etc and
whether sampled wet or dry. Split line is always checked that it is consistent with respect to orientation
marks.
· For all sample types, the nature, quality and appropriateness of the
sample preparation technique. Samples undergo sample preparation (Drying, crushing, splitting and
pulverizing) carried out by ALS Laboratories protocols.
· Quality control procedures adopted for all sub-sampling stages to
maximise representivity of samples. QAQC procedures include the insertion of blanks, a selection of standards,
field duplicates along with the insertion of the laboratories standards and
· Measures taken to ensure that the sampling is representative of the blanks.
in situ material collected, including for instance results for field
duplicate/second-half sampling. Sampling is deemed appropriate for the type of equipment used.
· Whether sample sizes are appropriate to the grain size of the
material being sampled.
Quality of assay data and laboratory tests · The nature, quality and appropriateness of the assaying and All DD drill samples were assayed for Copper and Silver using ALS's High Grade
laboratory procedures used and whether the technique is considered partial or Aqua Regia ICP-AES for 30 elements with code ME-ICP41a with ore grade elements
total. by Aqua Regia digestion and ICP-AES (ME-OG46 method).
· For geophysical tools, spectrometers, handheld XRF instruments, etc,
the parameters used in determining the analysis including instrument make and
model, reading times, calibrations factors applied and their derivation, etc. Ag by fire assay and gravimetric finish, 30g nominal weight (Ag-GRA21 method).
· Nature of quality control procedures adopted (eg standards, blanks,
duplicates, external laboratory checks) and whether acceptable levels of
accuracy (ie lack of bias) and precision have been established. These analytical techniques are considered appropriate for assaying.
During sampling Blanks and CRM's were inserted for QAQC protocols. These were
inserted on 1:20 samples. The Laboratories have also standard QAQC protocols
they employ when processing and analysing the samples.
Verification of sampling and assaying · The verification of significant intersections by either independent There are strong visual indications for the presence of minerals in the
or alternative company personnel. samples and the general geology in the area has been thoroughly studied to
give indications of formations that host mineralization. Significant
· The use of twinned holes. intersections are visually validated and the core and chip samples are sent to
an independent consultant who has been in the area for a long time to give his
· Documentation of primary data, data entry procedures, data opinion as a check.
verification, data storage (physical and electronic) protocols.
To date no twinning of holes has been done
· Discuss any adjustment to assay data.
All assay data is stored in a database on Laptops in an as is received basis
with no adjustment made to the returned data.
Data storage on partitioned drives and backed up on a company cloud server
Location of data points · Accuracy and quality of surveys used to locate drill holes (collar The Botswana Map Grid system is utilized for all map generations.
and down-hole surveys), trenches, mine workings and other locations used in
Mineral Resource estimation. Drill holes were all surveyed with a gyro instrument and collar positions
recorded.
· Specification of the grid system used.
At the time of public disclosure of the assay results, there were
· Quality and adequacy of topographic control. irregularities picked up with the down hole survey data that suggested an
error and were in the process of being re-surveyed.
Down hole surveys were done every 30m down the hole.
The LIDAR data system provides all the topographic contour data in the area
whose resolution is considered to be acceptable.
Data spacing and distribution · Data spacing for reporting of Exploration Results. Drilling was conducted along two profile lines spaced roughly 1km apart.
Exploration on this license is still in the early stages with the drill hole
· Whether the data spacing and distribution is sufficient to establish spacing along the profile line still quite broad as can be expected at this
the degree of geological and grade continuity appropriate for the Mineral stage of exploration, and not yet at a density sufficient for Mineral Resource
Resource and Ore Reserve estimation procedure(s) and classifications applied. Estimation.
· Whether sample compositing has been applied. No compositing of samples is being applied currently.
Orientation of data in relation to geological structure · Whether the orientation of sampling achieves unbiased sampling of This was the first phase exploration drilling programme, with broad spaced
possible structures and the extent to which this is known, considering the drilling and hole orientation aimed at intersecting the bedding of the host
deposit type. stratigraphy as perpendicular as practically possible. This is considered
appropriate for the geological setting and for the known mineralisation styles
· If the relationship between the drilling orientation and the in the Kalahari Copperbelt.
orientation of key mineralised structures is considered to have introduced a
sampling bias, this should be assessed and reported if material.
Existence, and orientation, of preferentially mineralised structures is not
yet fully understood but current available data indicates that the
mineralisation is relatively flat dipping (20 - 30 degrees) structures that
are more or less parallel to the bedding planes.
No significant bias is expected, but mineralised intervals are reported as
down hole intersection rather than true widths for now.
Sample security · The measures taken to ensure sample security. Appointed persons are the only ones allowed to access samples and permission
is obtained for anyone wanting to review samples. The sample load is still
small for a tighter security currently.
Drill core is stored in a locked facility.
Audits or reviews · The results of any audits or reviews of sampling techniques and data. An independent consultant has reviewed the sampling techniques and data and
suggested that future sampling is marked up from the D'Kar - Ngwako Pan
contact upwards, using sample sizes appropriate to the type and style of
mineralisation with veins being sampled down to 20cm lengths, mineralisation
in the fabric sampled down to 50cm lengths and disseminated or unmineralised
intervals at 1m lengths.
Section 2 Reporting of Exploration Results
(Criteria listed in the preceding section also apply to this section.)
Criteria JORC Code explanation Commentary
Mineral tenement and land tenure status · Type, reference name/number, location and ownership including Arc Minerals Limited acquired a 75% interest in Alvis-Crest (Proprietary)
agreements or material issues with third parties such as joint ventures, Limited, the holder of two prospecting licenses (PL 135/2017 & PL
partnerships, overriding royalties, native title interests, historical sites, 162/2017) in Botswana's Kalahari Copper Belt ("KCB"), colloquially called the
wilderness or national park and environmental settings. Virgo Project/Licenses. The Virgo project is located in an emerging copper
district of the Kalahari Copperbelt in close proximity of some larger
· The security of the tenure held at the time of reporting along with discoveries and cover an area of over 210km2. The Virgo licenses lie within
any known impediments to obtaining a licence to operate in the area. (PL 162 /2017) and (PL 135/2017) adjacent 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.
The two prospects are situated in the Northwest District within the Kalahari
Copperbelt of Northwestern Botswana.
.
Exploration done by other parties · Acknowledgment and appraisal of exploration by other parties. Former Anglo American prospective ground covered by widely spaced soil
sampling that picked up copper in soils resulting in the Boseto-Khoemacau
mines that are operated by MMG today.
Several deposits exist within the vicinity and surrounding areas where future
mining might take place.
Acquiring the Virgo Prospecting licenses from Kopore Metals is the beginning
of a long journey for Alvis Crest in the Kalahari Copperbelt.
Within 20 kilometres is the Zone 5 deposit for MMG Khoemacau Copper Mines to a
tune of 92 Million tonnes of copper ore at 2.2%Cu.
Within 120 kilometres is the Sandfire Motheo Project being developed with 67
Million tonnes of copper ore at 0.85%Cu.
Within 70 kilometres is the Banana deposit for MMG Khoemacau Copper Mines with
187 million tonnes of copper ore at 0.80%Cu.
The Virgo project lie within highly prospective ground of the Kalahari
Copperbelt and needs to be explored further to realize the potential of copper
ore in the area.
Geology · Deposit type, geological setting and style of mineralization.. The Alvis Crest deposits are characterised as a structurally controlled
strata-bound sediment-hosted copper deposit. Copper-silver mineralisation
typically occurs at the stratigraphic and/or structural boundary between the
contact of the oxidised Ngwako Pan Sandstone Formation and reduced D'Kar
siltstone Formation. The boundary is both a chemically reduced and
structurally controlled trap environment. Host rocks are unconformably
overlain by unconsolidated Kalahari Sand and calcrete up to 60m thick. The
lower ductile siltstones and carbonaceous units of the D'Kar Formation are the
main host for most of the copper and silver mineralisation. The D'Kar rocks
are composed of shallow marine sediments deposited >981 +/- 3 Ma (millions
of years ago) and consist of finely laminated and chemically reduced mudstones
and siltstones intercalated with carbon rich limestone and thin lagoonal black
shale.
Economic grades are dominantly related to shearing, folding and tensional
failure along and close to the Ngwako Pan and D'Kar redox contact.
Disseminated and hydrothermal vein-hosted sulphide mineralisation styles
combine to produce continuity of high-grade copper and silver mineralisation
over tens of kilometres. These higher-grade copper sulphide zones typically
contain disseminated cleavage parallel lenticles and massive quartz-carbonate
and breccia veins hosting chalcopyrite, bornite and chalcocite mineralisation.
Sulphide assemblages are commonly zoned. The sequence is developed vertically
upward from the base of the D'Kar Formation and can be seen to develop
horizontally along strike at some deposits. The typical zonation sequence
consists of low sulphur, low iron, copper sulphides (chalcocite and bornite)
and passes upward with increasing iron content (chalcopyrite and pyrite). This
sulphide zonation coincides with copper solubility precipitating of low
soluble sulphides at the first reductant while chalcopyrite and pyrite remain
in solution.
Drill hole Information · A summary of all information material to the understanding of the
exploration results including a tabulation of the following information for
all Material drill holes:
o easting and northing of the drill hole collar
o elevation or RL (Reduced Level - elevation above sea level in metres) of the
drill hole collar
o dip and azimuth of the hole
o down hole length and interception depth
o hole length.
· If the exclusion of this information is justified on the basis that
the information is not Material and this exclusion does not detract from the
understanding of the report, the Competent Person should clearly explain why
this is the case.
Hole Id Easting Northing Rl (m) Bearing* Dip* Depth (m) Grid License
ALV-DD-002 727120.296 7703463.802 999.56 50 -65 450 UTM34S PL135/2017
ALV-DD-003 726944.340 7703312.690 1000.94 50 -65 334 UTM34S PL135/2017
ALV-DD-004 726854.954 7703238.674 1001.08 50 -65 385 UTM34S PL135/2017
ALV-DD-005 727030.721 7703388.939 1000.20 50 -65 335 UTM34S PL135/2017
ALV-DD-006 726420.553 7704259.321 1001.47 50 -65 298 UTM34S PL135/2017
ALV-DD-007 726231.656 7704094.329 1002.00 50 -65 361 UTM34S PL135/2017
ALV-DD-008 726722.851 7703126.186 1001.72 50 -65 461 UTM34S PL135/2017
ALV-DD-009 726036.697 7703939.777 1002.12 50 -65 421 UTM34S PL135/2017
* At the time of the announcement of these assay results, a discrepancy with
the down hole survey data had been noted. The contractor who carried out the
downhole survey acknowledged an instrument error and was in the process of
coming back to site to re-survey all the holes.
Downhole Mineralised Lengths
Hole ID From To Interval (m) Cu (%) Ag (g/t) CuEq (%)
ALV-DD-004 326 332 6.00 0.63 16.67 0.82
includes from 326m 3.00 0.93 32.33 1.29
Criteria used for reporting: Low Grade Cut-Off of 0.2% Cu and minimum length
of 3m
Six of the remaining seven holes drilled intersected elevated to anomalous
copper mineralisation
Data aggregation methods on methods · In reporting Exploration Results, weighting averaging techniques, Results > 0.2% Cu average and with downhole lengths longer than 3m have
maximum and/or minimum grade truncations (eg cutting of high grades) and been averaged and length weighted to determine Copper Equivalent % ('CuEq %')
cut-off grades are usually Material and should be stated. for the downhole length reported.
· Where aggregate intercepts incorporate short lengths of high grade No aggregation of short lengths of high grade and longer lengths of low grade
results and longer lengths of low grade results, the procedure used for such has been reported
aggregation should be stated and some typical examples of such aggregations
should be shown in detail. Copper Equivalents have been calculated at current metal prices where 1 g/t Ag
= 0.011231% Cu.
· The assumptions used for any reporting of metal equivalent values
should be clearly stated.
grade truncations (grades) and cut-off grades are usually Material and should
be stated.
· Where aggregate intercepts incorporate short lengths of high grade
results and longer lengths of low grade results, the procedure used for such
aggregation should be stated and some typical examples of such aggregations
should be shown in detail.
· The assumptions used for any reporting of metal equivalent values
should be clearly stated.
Relationship between mineralisation widths and intercept lengths · These relationships are particularly important in the reporting of Drill intercepts are reported as downhole length. As much as is practical,
Exploration Results. holes are and will be designed to intersect veins or mineralized horizons at
around 60 degrees to the mineralized unit. This will allow a better conversion
· If the geometry of the mineralisation with respect to the drill hole to true width of the horizon.
angle is known, its nature should be reported.
All measurements state that downhole lengths have been used, as the true width
· If it is not known and only the down hole lengths are reported, there has not been suitably established by the current drilling and down hole
should be a clear statement to this effect (eg 'down hole length, true width survey.
not known').
Diagrams · Appropriate maps and sections (with scales) and tabulations of Refer to figures and tables in the body of the release.
intercepts should be included for any significant discovery being reported
These should include, but not be limited to a plan view of drill hole collar
locations and appropriate sectional views.
Balanced reporting · Where comprehensive reporting of all Exploration Results is not Refer to the drill hole information tabulated above
practicable, representative reporting of both low and high grades and/or
widths should be practiced to avoid misleading reporting of Exploration
Results.
Other substantive exploration data · Other exploration data, if meaningful and material, should be None except plans to continue further drilling to ensure the extent of the
reported including (but not limited to): geological observations; geophysical intersected mineralised zone exists beyond current boundaries.
survey results; geochemical survey results; bulk samples - size and method of
treatment; metallurgical test results; bulk density, groundwater, geotechnical
and rock characteristics; potential deleterious or contaminating substances.
Further work · The nature and scale of planned further work (eg tests for lateral Based upon these announced results, further drilling will be planned as the
extensions or depth extensions or large-scale step-out drilling). first phase drill programme appears to have intersected mineralisation
laterally on the fringe of the copper zone, in the iron rich zone, the
interpreted outer halo of the main mineralised zone.
· Diagrams clearly highlighting the areas of possible extensions,
including the main geological interpretations and future drilling areas,
provided this information is not commercially sensitive. All the data is being assessed following which planning will be put in place
for a second phase drill programme, that will vector away from the iron rich
zone, targeting the interpreted inner copper sulphide zone. This zone is
anticipated to lie East of the current drilling where a strike of roughly
5km of contact geology has yet to be tested.
Section 3 Estimation and Reporting of Mineral Resources
Not Applicable
Section 4 Estimation and Reporting of Ore Reserves
Not Applicable
Appendix B - Glossary of Technical Terms
"anomaly or anomalous" something in mineral exploration that geologists interpret as deviating from
what is standard, normal, or expected.
"assay" The laboratory test conducted to determine 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-grey to black with a
metallic lustre.
"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 Geophysics" Induced polarisation (IP) is a geophysical 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 Assessment" NI 43-101 defines a PEA as "a study, other 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 sulphide (https://en.wikipedia.org/wiki/Iron_sulfide)
mineral (https://en.wikipedia.org/wiki/Mineral) with the formula Fe(1-x)S
(x = 0 to 0.2). It is a nonstoichiometric
(https://en.wikipedia.org/wiki/Nonstoichiometric_compound) variant of FeS,
the mineral known as troilite (https://en.wikipedia.org/wiki/Troilite) .
Pyrrhotite is also called magnetic pyrite
(https://en.wikipedia.org/wiki/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.
"syncline" a trough of stratified rock in which the beds dip toward each other from
either side.
"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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. END DRLDBBDBCGBDGSXRecent news on ARC Minerals
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