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- Arcadia Minerals (AM7) intersects sulphide copper and gold mineralisation at its Gamikaub prospect within its Karibib project in Namibia
- The company has received assays from 10 drill holes, with two intersecting “significant” mineralisation in sulphide zones
- Drilling only covered a three-kilometre-by-one-kilometre section of the 20-kilometre-by-two-kilometre metasedimentary structure defined previously
- The results will guide further drilling in the area through which Arcadia aims to intercept similar mineralisation at wider intercepts
- Shares in AM7 are trading at 20 cents at 11:03 am AEST
Arcadia Minerals (AM7) has intersected sulphide copper and gold mineralisation at its Gamikaub prospect within its Karibib project in Namibia.
The company has received assays from its recent reconnaissance drilling campaign, where 10 holes were drilled targeting the calcium silicate and marble units previously identified at the Gamikaub prospects.
From the ten holes drilled, two intersected significant mineralisation including four metres at 1.35 per cent copper and 0.68 grams per tonne (g/t) gold. Another hole intersected four metres at 1.98 per cent copper and 0.92 g/t gold, as well as 0.72 per cent tungsten.
Arcadia CEO Philip le Roux said the company was satisfied with the results from its first reconnaissance drilling program at Karibib.
“The drilling program confirmed that significant sulphide mineralisation is present in the area and provided us with meaningful information to guide our exploration efforts over the Gamikaub prospect and elsewhere over the 20-kilometre metasedimentary structure,” Mr le Roux said.
“Although the mineralisation we encountered was over modest widths, it points to the possibility of wider areas of mineralisation being encountered elsewhere on the 20-kilometre metasedimentary structure.”
The company said drilling only covered a three-kilometre-by-one-kilometre section of the 20-kilometre-by-two-kilometre metasedimentary structure defined.
The results will guide additional drilling in the area, aimed at intercepting similar mineralisation but at wider intercepts.
Shares in AM7 were trading at 20 cents at 11:03 am AEST.
