Arc Minerals launches exploration drilling at Virgo Project in Botswana’s Kalahari Copper Belt

Arc Minerals (LSE: ARCM), a prominent exploration company, has initiated a comprehensive exploration drilling program at its Virgo Project located in the strategic Central Structural Corridor of the Kalahari Copper Belt in Botswana. This project, covered under licenses PL135/2017 and PL162/2017, marks a significant phase in Arc Minerals’ efforts to discover and develop top-tier copper deposits in this renowned mining region.

Advancements in Exploration and Strategic Implications

The commencement of this drilling program follows the encouraging results from a recent Induced Polarization Survey conducted on May 30, 2024, which identified potential drill targets along two distinct high chargeability trends near the interpreted redox contact. A significant, previously unknown anomaly displaying high chargeability and low resistivity at depth was also detected, prompting the launch of this drilling initiative.

This exploration campaign, constituting approximately 3,000 meters of maiden drilling, will utilize a mix of Reverse Circulation and Diamond Drill techniques. The primary focus will be to thoroughly investigate these anomalies, with the program distributed across the two licenses: 2,250 meters planned for PL135/2017 and 750 meters for PL162/2017.

Comments from Leadership

Nick von Schirnding, Executive Chairman of Arc Minerals, expressed optimism about the project’s potential: “I am very pleased that drilling is now underway at our Virgo Project. This will be a busy and exciting period for the Company and I look forward to reporting back on the results from these activities.”

PL135/2017 is notably surrounded by the prospecting licenses of Khoemacau Copper Mining Limited, recently acquired by MMG for approximately $1.9 billion. This proximity underscores the high potential for significant copper discoveries similar to Khoemacau’s recent Mawana Fold Discovery and the Zone 9 exploration target near Arc Minerals’ licenses.

The Virgo Licenses, which cover an area of over 210 square kilometers, are strategically positioned within 10 kilometers of the large Khoemacau Copper mine and close to other major copper projects in the region. These licenses have historically recorded two significant copper-nickel soil anomalies, hinting at the substantial untapped mineral potential.

Future Prospects and Economic Implications

The ongoing exploration is not only pivotal for Arc Minerals but also holds considerable implications for the local economy and the broader mining industry in Botswana. The successful development of these resources could substantially boost local employment, contribute to regional development, and reinforce Botswana’s status as a key player in the global copper market.