Arc Minerals (ARCM.L) has done a great job in advancing its Akyanga gold project by increasing the resource to 3 million ounces (coming from 1.6 million ounces) at an average grade of 2.16 g/t gold. This all-inferred resource will now be the basis for the company’s maiden scoping study, which will try to determine the economics of a potential 150,000-200,000 oz per annum gold producer. This scoping study is expected to be completed by the end of this year.
Meanwhile, Arc has identified additional high-priority zones for additional exploration, and has provided an exploration target for the Akyanga East zone. Arc expects to find an additional 3.1-7.1 million tonnes at an average grade of 1.94-2.43 g/t gold, which would add 200,000-600,000 ounces to the current resources at Akyanga. We are relatively confident the company will succeed with this plan as the Akyanga structure remains open in several directions, confirming the potential to find more gold.
It’s just a pity this project is located in the DRC…
Go to Arc’s website
The author has no position in Arc Minerals. Please read the disclaimer
