Vancouver, British Columbia – Arras Minerals Corp. (TSX-V: ARK) (“Arras” or the “Company”) is pleased to announce that it has commenced an Induced Polarization (“IP”) survey on its 531 square kilometer Elemes project in northeastern Kazakhstan (“Elemes” or the “Project”), to help further define the most prospective drill targets.
Highlights
- 125km long Pole-Dipole Induced Polarization survey covering the entire Berezski 8.8km x 1.5km NE-SW trending long copper (“Cu”) soil anomaly (+150ppm Cu).
- Initial focus of the survey will be the 2.8km x 1.6km coherent Molybdenum (“Mo”) bulls-eye anomaly (> 5ppm Mo) interpreted to be the core of untested porphyry copper-gold system.
- The survey will also extend over the 3km x 2.2km Novi arsenic (“As”) anomaly (>25ppm As) thought to be associated with a large high-sulphidation epithermal above a preserved porphyry deposit.
The commencement of the IP survey works follows the recent closing of an upsized financing in which the Company successfully raised C$5.2 million to support ongoing exploration activities on the Company’s copper-gold projects in Kazakhstan.
The IP survey will cover the extensive Berezski copper anomaly, associated with highly altered diorites, that displays remarkably similar geological and structural characteristics to the Bozshakol copper-gold mine located approximately 60 km northwest.
Tim Barry, CEO of Arras Minerals, announced, “With the recent completion of the C$5.2 million equity financing, we are well-positioned to advance our exploration programs on our key copper-gold projects across a number of targets areas. The start of the IP survey at the Berezski target on the Elemes project will assist with further defining high-priority targets ahead of drill testing in the following months this summer and fall.”
Figure 1. The 8.8km Berezski copper soil anomaly identified by Arras within the Elemes project. Also shown are proposed IP lines and the results of the re-assayed historical drillholes by Arras on 8 January 2024, and 22 January 2024 respectively.
Figure 2. The 8.8km Berezski molybdenum soil anomaly identified by Arras within the Elemes project. Also shown are proposed IP lines and the results of the re-assayed historical drillholes announced by Arras on 8 January 2024, and 22 January 2024 respectively.
Figure 3. The 8.8km Berezski arsenic soil anomaly identified by Arras within the Elemes project. Also shown are proposed IP lines and the results of the re-assayed historical drillholes announced by Arras on 8 January 2024, and 22 January 2024 respectively.
Induced Polarization (IP) Survey
The IP and resistivity surveys are being undertaken by Aurora Geophysics of Astana, Kazakhstan. The survey includes 125km of survey lines and will utilize a pole‐dipole array with an electrode spacing of 200m, and an average line spacing of 500m. The survey is designed to measure to a depth of ~250m.
Mineralization in porphyry deposits is associated with sulphide minerals, predominantly pyrite and chalcopyrite, which makes the IP survey an important tool in targeting sulphide mineralization at depth and enhancing the definition of drill targets. Additionally, the resistivity function of the survey will assist in identifying silica enriched zones, another import vector tool for future drill planning.
The Berezski Target is located within the 531 square kilometre Elemes/Aimandai license area (“Elemes Project”). The property benefits from excellent modern infrastructure and ease of accessibility, being located only 20 kilometres (“km”) from Arras’ operational base in the city of Ekibastuz, Pavlodar. A paved highway runs through the license, and within 5 km of the Berezski target. 1100 KVA power lines and heavy rail all lie within a 15-kilometer radius of the project.
The Elemes Project is located within the Bozshakol-Chingiz metallogenic belt that also hosts the Beskauga porphyry copper-gold-silver project approximately 80 km to the east, and KAZ Minerals’ Bozshakol porphyry copper-gold mine (2022 production 102kt Cu and 113Koz Au2) approximately 60 km to the northwest.
Figure 4. Arras’s License Package showing Arras-Teck Strategic Alliance Areas as “Package A” and “Package B” as well as the Elemes, Aimandai, Stepnoe, Ekidos and Tay licences which are 100% owned by Arras.
Qualified Person: The scientific and technical disclosure for this news release has been prepared under supervision of and approved by Matthew Booth, Vice President of Exploration, of Arras Minerals Corp., a Qualified Person for the purposes of NI 43-101. Mr. Booth has over 19 years of mineral exploration experience and is a Qualified Person member of the American Institute of Professional Geologists (CPG 12044).
On behalf of the Board of Directors
Tim Barry