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Arc Minerals: Maiden drill results at Kalaba prospect top expectations

Arc Minerals Ltd. reported the first assay results from its 11,000-meter drill program at the Kalaba prospect, part of its 66%-owned Kalaba copper-cobalt project in Zambia.

The company said Oct. 8 that mineralization was intersected in all 46 holes drilled to date. Highlights include an interval of 5 meters at 1.31% copper and 0.19% cobalt, or 3.26% copper equivalent, from 34.3 meters, including a 90.83-meter subinterval at 0.24% copper and 0.03% cobalt, or 0.56% copper equivalent, from 49.8 meters.

Mineralization is still open to the north and west of Kalaba, mainly from or near surface.

Arc Minerals said the results showed a continuous band of mineralization, from surface in the south gently dipping to the north, the dimensions of which have exceeded the company's expectations.

Meanwhile, Executive Chairman Nick von Schirnding said the pilot plant is on schedule and under budget, with commissioning expected to commence in the fourth quarter.