The AIM-listed miner said 3mln ounces of gold averaging 2.16grams per tonnes were reported at Akyanga deposit.
The company said that near-term exploration target of a further 200,000 to 600,000 ounces of gold in the Akyanga east area has been set, together with further exploration targets along the 55km gold belt within its 133km² mining licence.
Nick von Schirnding, ARC's executive chairman, commented: "The increase in Akyanga's JORC mineral resource from 1.6m ozs to 3m ozs is a game-changer for us and has exceeded our most optimistic expectations.”
He added: “The increased ounces and grade has 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, to be completed by year end.”
“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 133km2 mining license area,” Nick von Schirnding said.