Join our daily newsletter At The Bell to receive exclusive market insights
- Arcadia Minerals (AM7) commences a reverse circulation (RC) drill program at its Karibib copper-gold project in Namibia
- The company will complete nine holes for 526 metres, targeting lithologies known to contain mineralisation identified from mapping and previous grab sampling data
- The drilling aims to intersect significant mineralisation as well as expand Arcadia’s geological knowledge of the area
- The company may drill a further three holes as part of this program if it encounters visual mineralisation
- Shares in Arcadia Minerals are trading 5.36 per cent lower at 27 cents per share at 12:42 pm AEST
Arcadia Minerals (AM7) has commenced a reverse circulation (RC) drill program at its Karibib copper-gold project in Namibia.
The company will complete nine holes for 526 metres, targeting lithologies known to contain mineralisation identified from mapping and previous grab sampling data.
From previous sampling work, Arcadia reported a 20-kilometre-by-two-kilometre metasedimentary structural feature, which contains similar geology to the nearby Navachab Mine and the Twin Hills prospect.
Arcadia CEO Philip Le Roux said the focus of the new drilling program was to test the geological horizons identified by the company’s sampling work and its mapping of the area.
“Once drilling has been completed, we should know a lot more about the tenor of mineralisation to shallow depths, which may warrant further drilling,” Mr le Roux said.
Through the drilling work, Arcadia said it aimed to intersect significant mineralisation as well as expand its geological knowledge of the area.
The company may drill a further three holes as part of this program if it encounters visual mineralisation.
Shares in Arcadia Minerals were trading 5.36 per cent lower at 27 cents per share at 12:42 pm AEST.
