Drilling at two prospects at Lighthouse has indicated an inferred resource of 1.35mln tonnes at 1.18g per tonne of gold.
Arc Minerals Limited (LON:ARCM) said the team that discovered one of the largest high-grade copper deposits of recent times has identified a new target on the AIM-list mine developer’s Zambia licence areas.
African Mining Consultants and Douglas Haynes Discovery have picked over the extensive early exploration work carried out by Arc and mapped out a six-kilometre “strike” called West Lunga grading up to 463 parts per million copper.
Recent drilling undertaken by Arc Minerals Ltd (LON:ARCM) at the Cheyeza East prospect has intersected 25 metres grading 1.05% copper, including 1.7% copper over 9.3 metres.
An additional hole drilled 200 metres to the south also shows significant mineralisation.
Bacanora Lithium PLC (LON:BCN) shares rose on Monday following news late on Friday afternoon that it has signed the investment and offtake agreement with Gangfeng Lithium that was first announced in May.
These include resource drilling at the Casper, RD, and Coco deposits; the drill testing of new targets; and the assessment of the gold, and platinum group element (PGE) potential of property.
After raising US$825mln from investors in May, the FTSE 250 company said it was on track to complete a US$500mln bond, which in turn would unlock a US$2.5bn revolving credit facility from JP Morgan before the end of September.
IronRidge Resources Ltd (LON:IRR) has completed detailed face mapping and sampling within 145 primary hard-rock artisanal mining pits at the Zaranou gold license in Côte d'Ivoire.
Bluejay Mining PLC (LON:JAY) has identified 20 large scale drill-ready targets on its 2,776 square kilometre Disko-Nuussuaq nickel-copper-platinum project in West Greenland.
A new work programme has been designed to refine both new and previously defined drill targets by reprocessing and validating historical data and acquiring new geophysical and geochemical data.
Rainbow Rare Earths Ltd (LON:RBW) has secured £4.3mln of new cash to invest in increasing production growth at its Gakara rare earth project in Burundi.
Arc Minerals Limited (LON:ARCM) has acquired a further 5% stake in Zambian copper exploration company Zaco Limited.
Mkango Resources Ltd (LON:MKA, CVE:MKA) has been granted a new exclusive prospecting licence covering an area in the Mchinji district, central Malawi.
The licence, covering an area of 868.69 square kilometres, is adjacent to licences with known mineral potential including Mkango’s own Chimimbe Hill nickel-cobalt licence to the south.