Announcement • Jul 24

Arc Minerals Limited Publishes Geophysical Survey Results For Virgo Project In Botswana

Arc Minerals Limited published the results of its geophysical programme over the licence PL135/2017 of the Virgo project, inside the Zone 5 corridor of the Kalahari Copper Belt in the Republic of Botswana. IP survey extends significantly the inferred contact between the D'Kar Formation and Ngwako Pan Formation within the licence to 18 kilometres. Several high-priority anomalies identified with strong Induced Polarisation chargeability/resistivity anomalies and areas of structural complexity creating favourable potential mineral trap sites. Final selection of drilling contractor imminent. Drilling activities expected to commence in early August. 3D Earth Exploration (Pty) Ltd. was contracted to conduct a ground magnetic and IP survey over the PL135/2017 licence, as a continuation from the 2024 IP survey. The programme commenced with a ground magnetic survey and was dominated by a large magnetic feature in the east that corresponds to known Kgwebe volcanics that heavily affected the magnetic signature. After completing 230 line km, it was decided that the focus of the programme should remain on the IP survey, which had strongly identified the prospective DKF-NPF contact in the 2024 IP campaign. The magnetic survey did pick up an area of structural complexity on the southern end of the Mawana Fold, which was further confirmed by the IP survey. This is now becoming an area of interest as it could potentially host mineral trap sites conducive to the formation of larger deposits. The IP survey consisted of a total of 59 line km, made up of 51 line km of Gradient IP and 8 line km of Insight Section IP. The survey employed a Walcer TX KW10 transmitter and an Iris Elrec Terra IP receiver. For both Gradient Array and Insight Section IP, a 25m dipole was used during measurements with a reading cycling time of 20 to optimize data quality by increasing signal to noise ratio. The survey lines were designed to cover the full extent of the inferred DKF-NPF contact across the licence and interpreted redox boundary. The IP survey appears to have extended the interpreted redox boundary (DKF-NPF Contact) by a further 14 kilometres to the east of the area surveyed in 2024, bringing the total contact length in the licence to 18 kilometres. The D'Kar Formation is typically characterised by high apparent chargeability and low apparent resistivity and occupies the southern side of the interpreted redox contact, whilst the northern side of the contact is assumed to be the Ngwako Pan Formation. A redox contact jog has been noted in the central part to the area surveyed and could also be an area to target for economic mineralization. The IP survey employed a Walcer TX KW10 transmitter and an Iris Elrec Terra IP receiver. The survey lines were designed to cover the full extent of the inferred D'Kar and Ngwako Pan contact across the licence and interpreted redox boundary. For Gradient Array the current electrode spacing AB was 2,000m on all surveys for a depth of investigation estimated at 400m (20% of AB). C1 was at station 0 and C2 at 2,000N or 1,000N and 3,000N, to cover the southern and northern 1,000m portions of the 2,000m traverse lines. The Insight Section IP survey consists of a number of readings at a given station at different current electrode separation representing different depths of investigation. The depth of each reading is 20% the current electrode spacing AB. Therefore, for depth levels from 50m to 400m at 50m intervals measured in this survey, the A-B separation was 250m to 2,000m at 250m intervals, respectively. The depth levels surveyed were at 50m intervals from 50m to 400m for all surveyed lines, corresponding to ABs from 250m to 2,000m. For both Gradient Array and Insight Section IP, a 25m dipole was used during measurements with a reading cycling time of 20 to optimize data quality by increasing signal to noise ratio. Data was downloaded daily on return to the camp in the evening and processed using Geosoft's Oasis Montaj. The following field processing was done: Download data for the survey line to date (from start to current day) into a laptop. The data was edited and XY coordinates in WGS84, Zone 34S inserted manually. Data was imported into a Geosoft database and gridded to produce chargeability and resistivity images which are then contoured. For Gradient Array data the grid cell size used is 125m (1/4 of 500m line spacing). For Insight Section IP, a cell size of 12.5m was used (1/4 of 50m depth layer separation). The Senior Geophysicist also gridded and QC'd the data on site daily before sharing with Alvis. The ground preparation for the following day was also adjusted according to the current output achieved on the day. For both the magnetic and Induced polarisation survey the interpretation remains qualitative and subject to geological validation through follow-up drilling. Magnetic, chargeable and resistive features identified from these surveys are considered exploration targets only and require follow-up geological and drilling validation.

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