AMN - DRC: 3 million ounce gold resource at Akyanga

Arc Minerals has updated the mineral resource estimate for the Akyanga deposit, which is part of its Casa project in the eastern part of the Democratic Republic of Congo (DRC). The resource now comprises 3 million ounces averaging 2.16 g/t gold, up from 1.6 million ounces.

The inferred resource is 44.4 million tonnes at 2.16 g/t gold. A near-term exploration target of a further 200,000 to 600,000 ounces has also been established for the Akyanga East area.

There are further exploration targets along the 55km gold belt within Arc’s 133sqkm mining licence.

The company has started a scoping study at the project and aims to have this completed by the end of the year.

Arc’s executive chairman Nick von Schirnding said: "The increase in Akyanga's JORC mineral resource is a game-changer for us and has exceeded our most optimistic expectations. 

“The increased ounces and grade have the potential to significantly enhance the economics of developing the mine.

“We shall now commence with a scoping study, targeting a 150koz-200koz per annum low-cost gold operation.

“Our ability to upgrade this significant, near-surface gold deposit in such a short timeframe clearly demonstrates the largely untapped potential of both the Akyanga project and the 55km long gold belt within our mining licence area.

“We look forward to updating shareholders on further developments at Casa as well as at our Zamsort copper/cobalt project where drilling is about to commence and completion work on the plant is underway."

The statement of resources was prepared by Denny Jones Pty Ltd, a specialised Australian-based resource consultancy and is reported in accordance with the requirements of the 2012 JORC Code.

Akyanga deposit is near the town of Misisi, 250km south of Bukavu, the provincial capital of the South Kivu Province in the DRC.

The Akyanga structure remains open in several directions and all geological indicators suggest the Misisi corridor and multiple surrounding targets have the potential to continue to deliver further substantial growth in the Company's mineral inventory.

Arc Minerals is an AIM-listed exploration and mine development company focused on a diversified portfolio of mining projects with interests in Slovakia, Eritrea, the DRC and Zambia. 

It holds a 99% interest in CASA Mining Limited, a private company that has a 71.25% interest in the inferred resource at Akyanga.

www.arcminerals.com