Business
Akyanga Resource Update
Akyanga Resource Update.
About this update from Arc Minerals Limited
[{"type":"text","content":"\n \nRNS Number : 8183S Arc Minerals Limited 28 June 2018 \n\nArc Minerals Ltd / Epic: ARCM / Market: AIM / Sector: Mining & Exploration\n \n28 June 2018\n \nArc Minerals Ltd \n(\"Arc Minerals\" or the \"Company\")\n \nArc Minerals Reports 3 Million Ounce Gold Mineral Resource at the Akyanga Deposit\n \nArc Minerals (\"Arc\" or \"the Company\") is pleased to report an update of the Mineral Resource Estimate for the Akyanga deposit, part of its Casa project, located in the eastern part of the Democratic Republic of Congo (\"DRC\"). The statement of Mineral Resources (Table 1) was prepared by Denny Jones Pty Ltd (\"Denny Jones\"), a specialised Australian based Resource Consultancy and is reported in accordance with the requirements of the 2012 JORC Code.\n \nHighlights - Akyanga Mineral Resource (100%) \n· 3 million ounces of gold averaging 2.16 grams per tonne \n· Near-term exploration target of a further 200,000 to 600,000 ounces of gold in the Akyanga East Area\n· Further exploration targets along the 55km gold belt within its 133km² mining license \n· Commencement of a Scoping Study\n \nNick von Schirnding, ARC's Executive Chairman, commented: \n\"The increase in Akyanga's JORC mineral resource from 1.6m ozs to 3m ozs is a game-changer for us and has exceeded our most optimistic expectations. The increased ounces and grade has the potential to significantly enhance the economics of developing the mine. We shall now commence with a scoping study, targeting a 150koz-200koz per annum low cost gold operation, to be completed by year end. \nOur ability to upgrade this significant, near-surface gold deposit in such a short timeframe clearly demonstrates the largely untapped potential of both the Akyanga project and the 55km long gold belt within our 133km2 mining license area.\n \nWe look forward to updating shareholders on further developments at Casa as well as at our Zamsort copper/cobalt project where drilling is about to commence and completion work on the plant is underway.\" \n \nMineral Resource Estimate \nThe Akyanga deposit is located near the town of Misisi located 250km south of Bukavu, the provincial capital of the South Kivu Province in the Democ...