Arc Minerals (LSE:ARCM) has announced encouraging geophysical results from its Virgo Project in Botswana’s Kalahari Copper Belt, extending the interpreted D’Kar Formation (DKF) and Ngwako Pan Formation (NPF) contact across licence PL135/2017 to approximately 18 kilometres. The latest induced polarisation (IP) and ground magnetic surveys have also identified structurally complex areas that are considered favourable for copper mineralisation, close to MMG’s Mawana Fold and Zone 9 discoveries.
Geophysical surveys identify multiple high-priority drill targets
The exploration programme has outlined several significant IP chargeability and resistivity anomalies that will form the focus of the next phase of work. Arc Minerals is now completing the appointment of a drilling contractor, with drilling expected to begin in early August.
The company believes the newly identified targets enhance the exploration potential of the Virgo Project and provide a strong foundation for testing prospective mineralised structures through drilling.
Investor update planned as exploration enters new phase
As the project transitions from geophysical surveying to active drilling, Arc Minerals will host an investor presentation on 30 July to outline the latest exploration findings and discuss the upcoming drilling campaign.
Management views the recent survey results as an important milestone in advancing the Virgo Project, with drilling expected to provide the first direct test of the newly identified exploration targets.
Financial profile reflects exploration-stage business
Arc Minerals remains a pre-revenue exploration company, with its financial profile continuing to reflect ongoing investment in exploration activities, operating losses and cash utilisation. The business also recorded a reduction in equity and assets during 2025.
From a market perspective, technical indicators remain moderately positive, with the share price trading above key moving averages and momentum supported by a positive MACD reading. However, valuation metrics remain constrained by negative earnings and the absence of a dividend.
About Arc Minerals
Arc Minerals is an AIM-listed copper exploration company focused on discovering Tier 1 copper deposits across Africa. Its flagship Virgo Project is located within Botswana’s Kalahari Copper Belt, in MMG’s prospective Zone 5 corridor, while the Kabompo West Project in Zambia lies within the Western Domes region of the Central African Copper Belt, home to several world-class copper deposits.
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