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Arc Minerals Ltd.
Summary
| Project: | Akyanga | |
|---|---|---|
| Deposit: | Akyanga | |
| Location: | Democratic Republic Of The Congo | |
| Commodities: | Gold | |
| Date: | 6/28/2018 | |
| Report Code: | JORC | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing Scoping Study | |
| Report details: | 28-6-2018: Arc Minerals Ltd. announces a Resource Estimation report for its Akyanga deposit at the Akyanga project. Updated mineral resource estimate at the project. Arc Minerals ("Arc" or "the Company") is pleased to report an update of the Mineral Resou | |
| Resources: | (Resource, Inf.); 44.3Mt @ 2.16g/t Au for 3.0Moz Au contained at Akyanga | |
| CP/QP: | [Resources]: Ivor Jones (Denny Jones Pty Ltd.) | |
| ABSTRACT: | Arc 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. Nick von Schirnding, ARC's Executive Chairman, commented:"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.Our 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.We 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." | |
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