Arcadia Minerals (ASX:AM7) wraps up drilling at Karibib copper-gold project

Highlights

• Arcadia Minerals has unveiled the completion of a reverse circulation (RC) drilling campaign at the Karibib copper-gold project.
• Visual mineralisation encountered in 8 of the 10 holes.
• The results are expected by October end.
• The company is conducting electro-magnetic survey to delineate detailed structural features associated with mineralisation.

In a major development, Arcadia Minerals (ASX:AM7, FRA:8OH) has announced the completion of a drilling program at its Karibib copper-gold project.

The Namibia-focused diversified metals (tantalum, lithium, nickel, copper, and gold) exploration company had engaged Hammerstein Mining and Drilling as the drilling contractor.

The Reverse Circulation (RC) drilling program covered 10 drill holes for 551 metres, focusing on their status of visual mineralisation. Eight of these 10 holes encountered visible mineralisation. Considering this result, the company drilled an extra hole to intersect the mineralisation at deeper depth.

Encouraging outcomes from previous grab sampling   

Arcadia Minerals conducted a grab sampling program over an inferred 20 km x 2 km metasedimentary structural feature. The structure hosts geological similarities with the nearby Navachab Mine (5.3Moz gold) and other programs conducted by explorers for gold mineralisation in the area.  

The metasedimentary structural feature is geologically identical to Osino Resources’ Twin Hills prospect with a Mineral Resource of 2.1Moz gold. The Twin Hills prospect also lies within the Karibib gold belt and is located 45km from the Karibib copper-gold project.

The excellent grab sampling results were taken from lithology identified as either Skarn-type or Vein-type mineralisation. Their possibility of containing economic mineralisation has been shown in the below infographic, highlighting the mineralisation grades:

(Source: © 2022 Kalkine Media®, Data Source: Company’s update)

Karibib drilling indicates visual mineralisation 

The company’s extensive mapping and high-grade sampling led to follow-up work by identifying locally occurring favourable geological settings capable of hosting diorite-proximal skarn- and vein-type mineralisation suitable for drilling.  

With this development, the company identified drill targets in the Gamikaub prospect. These targets drill tested for lithologies and their associated mineralisation. The drilling process took 10 days to complete.

(Image source: Company’s update)

Eight of these 10 drill holes (-60 and -75 degree inclination) have encountered visual mineralisation. Mineralisation of chalcopyrite, bornite, pyrrhotite, malachite and azurite was observed in visual inspection of 240 RC-chip samples taken from lithologies.

The RC-chip samples have been dispatched to Scientific Services in Cape Town, South Africa, for assay, with their results expected to be received by the end of October 2022.

The company is also working on delineating the detailed structural features of the Gamikaub prospect area. It has hired Simmons Geophysics, which is conducting a ground-borne electromagnetic survey at 50m grid spacing covering 2.25km x 0.7km at the area.

Along with the possibility of unearthing the geological setting of Gamikaub, the survey is expected to help identify additional drill targets based on the results achieved.

AM7 shares traded at AU$0.30 on 23 September 2022.