Arcadia Minerals

Drilling Completed At Karibib Copper-Gold Project

Arcadia Minerals Ltd (ASX:AM7, FRA:8OH) (Arcadia or the Company), the diversified exploration company targeting a suite of projects aimed at Tantalum, Lithium, Nickel, Copper and Gold in Namibia, is pleased to announce that its drilling contractor Hammerstein Mining and Drilling completed a 551m RC drilling program for 10 drill holes at the Karibib Copper- Gold Project in Namibia.

HIGHLIGHTS

  • 551m (10-hole) Reverse Circulation (RC) Drilling program completed, with visual mineralisation encountered in 8 of the 10 holes
  • Drilling only covered a 3km x 1km section of the 20km x 2km metasedimentary structure defined, where previous sampling included mineralisation grades of1:
    • Average 4.32% Cu/1.49 g/t Au (Highest 28.4% Cu/7.65 g/t Au) in skarn-type, AND
    • Average 1.94% Cu/2.06 g/t Au (Highest 5.69% Cu/26.3 g/t Au) in vein-type
  • Visual inspection of RC-chip samples confirmed the interception of lithologies containing known mineralisation
  • Mineralisation of sulphides and oxides (Chalcopyrite, Bornite, Pyrrhotite, Malachite and Azurite) were observed in RC-chip samples
  • Samples dispatched to Scientific Services in Cape Town, South Africa for assay
  • Results expected to be received by end of October 2022
  • Electro-magnetic survey underway to delineate detailed structural features associated with mineralisation

The drilling program consisted of 10 drill holes drilled at a -60 and -75 degree inclination and at varied azimuths and depths dependent on the inferred geometry and geology of the targeted zone (refer to table 1 attached hereto as Annexure 1). Visual mineralisation was successfully encountered in drill holes KRC01, KRC02, KRC03, KRC07, KRC09, KRC10, KRC11 and KRC13. As a consequence, an additional hole was drilled to intersect mineralisation at deeper depth. Drilling only covered a 3km x 1km section of the 20km x 2km metasedimentary structure previously defined by a grab sampling program. A location map of the drilled holes is attached hereto as Annexure 2.

240 samples were taken from lithologies that are known to contain mineralisation in the area, and dispatched to Scientific Services in Cape Town, South Africa for assay. Results expected to be received by end of October 2022.

On the 7th of September 2021 the Company announced1 results from a grab sampling program over an inferred 20 km x 2 km metasedimentary structural feature. This structure contains similar geology than that encountered at the nearby Navachab Mine (5.3MozAu)2 and by various other explorers for gold mineralisation in the area, such as Osino Resources who developed its Twin Hills prospect3 (located 45km also within the Karibib gold belt) to contain a Mineral Resource of 2.1MozAu.


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This article includes content from Arcadia Minerals, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.

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