Business
General Update
General Update.
About this update from Arc Minerals Limited
[{"type":"text","content":"\n\n14 May 2025, 07:00 UTC\n \nThe 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.\n \nArc Minerals Ltd\n('Arc' or the 'Company')\nGENERAL UPDATE\n \nArc Minerals (LSE: ARCM), an exploration company focused on developing Tier 1 copper deposits, announces the following updates.\n \nJoint Venture with a subsidiary of Anglo American in Zambia\nThe technical review of the 2024 results and future targeting options for the 2025 field season are being evaluated. Additional targets being reviewed include Fwiji and Nyambwezu that have not been previously tested by the JV Company, and the Cheyeza prospect, where drilling in November 2024 last year confirmed both oxide and sulphide mineralisation within 1.5 km from the Cheyeza East oxide occurrence (with Copper (Cu) grades of between 2-4%). Results from the most recent drilling by the JV at Cheyeza (see announcement dated 4 February 2025) included 40.60m @ 0.61% Cu including 12.75m @ 1.2% Cu from 22.25m. The Company confirms that the remaining assay results for the last three holes from this 2024 drilling campaign identified no significant intercepts.\n \nNick von Schirnding, Executive Chairman of Arc Minerals, commented:\n\"I look forward to reporting back to shareholders over the coming months in respect of our various drilling plans as the rainy season comes to an end.\"\n \nAcquisition of Chingola Project\nThe Company confirms that, further to the announcement on 7 April 2025, the Company is in the process of progressing the outstanding acquisition conditions including the completion of satisfactory due diligence and the receipt of necessary consents and approvals for the transfer. Further updates will be provided in due course.\n \nVirgo Project in Botswana\nThe Company has completed its drilling plans in respect of license PL135/2017 and, depending on the timing of the proposed acquisition of the Chingola Project and associated scope of work, will either commence drilling in Botswana or progres...