Arc Minerals set to begin drilling at Virgo project in Botswana
Arc Minerals Ltd. is preparing to start drilling at its Virgo project in Botswana in August as its geophysical programme nears completion.
The London-listed company said it is in advanced talks with drilling contractors and expects to make a selection in July.
The drilling campaign will test priority targets generated by combining an expanded induced polarisation survey, a magnetic survey and detailed geological interpretation.
Arc has extended the induced polarisation survey to follow the interpreted contact between the D’Kar and Ngwako Pan formations, a geological boundary that hosts copper mineralisation in the region, to sharpen drill targeting.
Results of the geophysical programme are expected shortly.
Virgo sits in Botswana’s Kalahari Copper Belt and is the only junior-held licence package within the Zone 5 corridor dominated by mining group MMG.
In its quarterly investor letter, Arc also confirmed it has concluded a comprehensive settlement agreement in Zambia, ending all outstanding legal disputes relating to its Kabompo West project.
Consent judgements are being filed with the Zambian courts, with a further announcement to follow once the process is complete.
Arc is now pursuing a dual-track strategy at Kabompo West, holding talks with major mining companies about potential strategic opportunities while reviewing its geological, geophysical and drilling database.
That review includes assessing whether artificial intelligence-assisted geological interpretation could unlock further value from the existing dataset.
The board believes Kabompo West remains one of the largest and most prospective exploration land packages in Zambia’s Western Domes region.
The company raised £3 million in April, to fully fund its Botswana exploration programme and issued shares to clear more than £1 million owed to creditors.
Chief executive Rémy Welschinger said the settlement finally allows Arc to take Kabompo West forward, adding that the company is entering an important phase.
