| From: LoneClone | 9/19/2023 12:32:57 PM | | | | | | Arras Drilling Expands Resource Potential 1km to the South and Intercepts 500 Metres of Continuous Cu-Au-Ag Mineralization at Its Beskauga Licence in Kazakhstan
ca.finance.yahoo.com
Arras Minerals Corp.
Tue, September 19, 2023 at 3:00 a.m. PDT·5 min read
Table 1.
Summary table for drill holes Bg23025, Bg23026 and Bg23027
Figure 1.
Location of the holes completed to date as part of Arras’ planned 30,000-metre drill program on the Beskauga Main deposit and wider area. The surface projection of the block model from the current NI-43-101 Mineral Resource Estimate is shown for copper. Map also showing position of cross-section A-A’, located 1.0 km from the Beskauga main deposit, with NW-SE drilling fence of drill holes Bg23025, Bg23026 and Bg23027.
Figure 2.
Cross-section showing drill holes Bg23025, Bg23026 and Bg23027 in relation to historical drill hole Bg-47 drilled by Copperbelt. CuEq grades of key intercepts in Bg23025, Bg23026 and Bg23027 and historical hole are shown. The cross-section demonstrating structurally controlled mineralization trending to the West down the dip of structures, largely focused within the zones of weak argillic overprint.
VANCOUVER, British Columbia, Sept. 19, 2023 (GLOBE NEWSWIRE) --Arras Minerals Corp. (TSX-V: ARK) (“Arras” or “the Company”)is pleased to announce assay results from holes Bg23025, Bg23026 and Bg23027 from the ongoing drill program at the Beskauga copper-gold deposit and surrounding area (“Beskauga” or the “Project”).
Highlights Include:
- A 1 km drill step out from main deposit shows continued mineralization:Holes Bg23025 & Bg23026 were drilled 1 kilometer outside of the main mineral resource at Beskauga and returned 500m+ zones of continuous mineralization.
- Bg23026: 570.5 m of mineralization grading 0.27% copper-equivalent (“CuEq”) -(0.23 g/t gold (“Au”), 0.08 % copper (“Cu”), 0.42 g/t silver (“Ag”)) starting at 29.0 m.
- Including:127.0 m grading 0.57 % CuEq- (0.49 g/t Au, 0.17% Cu, 0.77 g/t Ag) starting at 155.0 m depth down-hole.
- Bg23025: 504.3 m of mineralization grading 0.19% copper-equivalent (“CuEq”) -(0.16 g/t gold (“Au”), 0.06 % copper (“Cu”), 0.34 g/t silver (“Ag”)) starting at 31.0 m.
- Including:21.0 m grading 0.77 % CuEq -(0.76 g/t Au, 0.17% Cu, 0.70 g/t Ag) starting at 104.0 m depth down-hole.
- Including:69.0 m grading 0.45 % CuEq -(0.39 g/t Au, 0.12% Cu, 0.70 g/t Ag) starting at 420.0 m depth down-hole.
Tim Barry, CEO, commented,“It is very pleasing to see long continuous zones of mineralization drilled well outside the existing resource at Beskauga. It is also particularly pleasing to see zones of high-grade mineralization grading up 1.16% CuEq over 11 meters and 0.77% CuEq over 21 meters within these longer intercepts. The key take away from these holes are as follows:
1 : The 1 kilometer step out suggests there is plenty of opportunity to grow the Beskauga Deposit
2 : The mineralization is continuous and contains wide zones of high-grade mineralization
3 : Mineralization remains open at depth and open to the south indicating further explorationopportunities and potential resource expansion.”
A summary of the results announced in this news release is outlined in the table below.
Summary table for drill holes Bg23025, Bg23026 and Bg23027
Table 1. Summary table for drill holes Bg23025, Bg23026 and Bg23027
Notes: Copper Equivalent (“CuEq”) grades reported for the drill holes at Beskauga were calculated using the following formula: CuEq % = Copper (%) + (Gold (g/t) x 0.8264) + (Silver (g/t) x 0.0107) + (Molybdenum (ppm) x 3.3333). Gold Equivalent (“AuEq”) grades reported for the drill holes at Beskauga were calculated using the following formula: AuEq g/t = Gold (g/t) + (Copper (%) x 1.2100) + (Silver (g/t) x 0.0129) + (Molybdenum (ppm) x 4.0334). Assumptions used for the copper and gold equivalent calculations were metal prices of US$3.00/lb. Copper, US$1,700/oz Gold, US$22/oz Silver, US$10/lb. Molybdenum, and metallurgical recoveries were assumed to be 90%.
Results of Bg23025, and Bg23026:
Bg23025:Was strategically positioned aimed to test a cluster of historical KGK drill hole samples that tested the top of the bed rock buried by younger sediments and which contained gold values ranging from 0.32 to 1.18 grams per tonne (g/t) Au. Additionally, it targeted a magnetic anomaly associated with potassic-altered Quartz Monzonite.
The drill hole encountered quartz monzonite with sporadic K-feldspar vein alteration, along with intermittent argillic (illite) alteration primarily influenced by fault structures. Within the quartz monzonite, mineralization consists of quartz-pyrite-chalcopyrite veins, occasionally enriched in molybdenite, particularly at greater depths, and sporadically featuring magnetite. The drilling reached a total depth of 535.3 meters.
Bg23026:The primary objective of this hole to assess a linear NE-SW trending magnetic low, as well as a zone of intense argillic alteration previously identified in KGK drilling.
The drill hole intersected quartz monzonite, displaying occasional, localized K-feldspar vein alteration, and exhibiting a weak argillic (illite) overprint, primarily influenced by fault structures. The dominant mineralization in this zone comprises quartz-pyrite-chalcopyrite veins. These veins are accompanied by sporadic occurrences of molybdenite, which are observed from the surface down to depths of up to 470 meters. It's worth noting that the presence of magnetite within the veins is less pronounced in comparison to what was encountered in drill hole Bg23025. The drilling operation was successfully completed at a depth of 570.5 meters.
Location of the holes completed to date as part of Arras’ planned 30,000-metre drill program on the Beskauga Main deposit and wider area. The surface projection of the block model from the current NI-43-101 Mineral Resource Estimate is shown for copper. Map also showing position of cross-section A-A’, located 1.0 km from the Beskauga main deposit, with NW-SE drilling fence of drill holes Bg23025, Bg23026 and Bg23027.
Figure 1.Location of the holes completed to date as part of Arras’ planned 30,000-metre drill program on the Beskauga Main deposit and wider area. The surface projection of the block model from the current NI-43-101 Mineral Resource Estimate is shown for copper. Map also showing position of cross-section A-A’, located 1.0 km from the Beskauga main deposit, with NW-SE drilling fence of drill holes Bg23025, Bg23026 and Bg23027.
Cross-section showing drill holes Bg23025, Bg23026 and Bg23027 in relation to historical drill hole Bg-47 drilled by Copperbelt. CuEq grades of key intercepts in Bg23025, Bg23026 and Bg23027 and historical hole are shown. The cross-section demonstrating structurally controlled mineralization trending to the West down the dip of structures, largely focused within the zones of weak argillic overprint.
Figure 2.Cross-section showing drill holes Bg23025, Bg23026 and Bg23027 in relation to historical drill hole Bg-47 drilled by Copperbelt. CuEq grades of key intercepts in Bg23025, Bg23026 and Bg23027 and historical hole are shown. The cross-section demonstrating structurally controlled mineralization trending to the West down the dip of structures, largely focused within the zones of weak argillic overprint.
Qualified Person:The scientific and technical disclosure for the Quartzite Gorka Project included in this news release has been prepared under supervision of and approved Tim Barry, Chief Executive Officer, and Director of Arras Minerals Corp., who is also a Member and Chartered Professional Geologist (MAusIMM CP(Geo)) of the Australasian Institute of Mining and Metallurgy. Mr. Barry has sufficient experience, relevant to the styles of mineralization and type of deposits under consideration and to the activity that he is undertaking, to qualify as a Qualified Person (“QP”) for the purposes of National Instrument 43-101 Standards of Disclosure of Mineral Projects (“NI 43-101”).
On behalf of the Board of Directors
"Tim Barry"
Tim Barry, MAusIMM CP(Geo)
Chief Executive Officer and Director
INVESTOR RELATIONS:
+1 604 687 5800
info@arrasminerals.com
Further information can be found on the Company’s websitehttps://www.globenewswire.com/Tracker?data=vHVFHvtiYMuqnw49kM0TCCEtBBIz37wOQYPR9P9Wf__1FFtafhROMOrch0iMo6V0SZf1Vy51PSOtMvCVl9ayKkLMq9zuxIkPTS9V-k52pDriQ8L2sJTpKq_p65IqpkWgor follow us on LinkedIn:https://www.globenewswire.com/Tracker?data=vHVFHvtiYMuqnw49kM0TCNl1sotnUZ5S9Hah0eqQuo3EcoqtJ0DaWVdp41oDlPXLEM2i4kWfqt5w1GDdf0KADJgmtnSEvnMk1Vl4mMGjPj42RP5yovuttMpeCLtMz9lha_8E_2yZa5Ra0pLw9vorpFK5VcQEOgqsIlmJXrLKobc=or on Twitter:https://www.globenewswire.com/Tracker?data=vHVFHvtiYMuqnw49kM0TCM1kV9LhGDokrbeqtVj8cqPFtbVCXwBLUsBVIyKpCrjGEQgUV3FwVyVDnQLsLZKEHwQRjfxL5rg4G284x7yaq-zyM5i7rPl7XLoKbbaPe5Rr
About Arras Minerals Corp.
Arras is a Canadian exploration and development company advancing a portfolio of copper and gold assets in northeastern Kazakhstan, including the Option Agreement on the Beskauga copper and gold project. The Company has established the third-largest license package in the country prospective for copper and gold (behind Rio Tinto and Fortescue Metals Group). The Company’s shares are listed on the TSX-V under the trading symbol “ARK”.
Cautionary Note to U.S. Investors concerning estimates of Measured, Indicated, and Inferred Resources:This press release uses the terms “measured resources”, “indicated resources”, and “inferred resources” which are defined in, and required to be disclosed by, NI 43-101. The Company advises U.S. investors that these terms are not recognized by the SEC. The estimation of measured, indicated and inferred resources involves greater uncertainty as to their existence and economic feasibility than the estimation of proven and probable reserves. U.S. investors are cautioned not to assume that measured and indicated mineral resources will be converted into reserves. The estimation of inferred resources involves far greater uncertainty as to their existence and economic viability than the estimation of other categories of resources. U.S. investors are cautioned not to assume that estimates of inferred mineral resources exist, are economically minable, or will be upgraded into measured or indicated mineral resources. Under Canadian securities laws, estimates of inferred mineral resources may not form the basis of feasibility or other economic studies.
Disclosure of “contained ounces” in a resource is permitted disclosure under Canadian regulations, however the SEC normally only permits issuers to report mineralization that does not constitute “reserves” by SEC standards as in place tonnage and grade without reference to unit measures. Accordingly, the information contained in this press release may not be comparable to similar information made public by U.S. companies that are not subject NI 43-101.
Cautionary note regarding forward-looking statements:This news release contains forward-looking statements regarding future events and Arras’ future results that are subject to the safe harbors created under the U.S. Private Securities Litigation Reform Act of 1995, the Securities Act of 1933, as amended, and the Exchange Act, and applicable Canadian securities laws. Forward-looking statements include, among others, statements regarding plans and expectations of the exploration program Arras is in the process of undertaking, including the expansion of the Mineral Resource, and other aspects of the Mineral Resource estimates for the Beskauga project. These statements are based on current expectations, estimates, forecasts, and projections about Arras’ exploration projects, the industry in which Arras operates and the beliefs and assumptions of Arras’ management. Words such as “expects,” “anticipates,” “targets,” “goals,” “projects,” “intends,” “plans,” “believes,” “seeks,” “estimates,” “continues,” “may,” variations of such words, and similar expressions and references to futureperiods, are intended to identify such forward-looking statements. Forward-looking statements are subject to a number of assumptions, risks and uncertainties, many of which are beyond management’s control, including undertaking further exploration activities, the results of such exploration activities and that such results support continued exploration activities, unexpected variations in ore grade, types and metallurgy, volatility and level of commodity prices, the availability of sufficient future financing, and other matters discussed under the caption “Risk Factors” in the Management Discussion and Analysis filed on the Company’s profile on SEDAR on March 30, 2023 and in the Company’s Annual Report on Form 20-F for the fiscal year ended October 31, 2022 filed with the U.S. Securities and Exchange Commission filed on February 24, 2023 available on www.sec.gov. Readers are cautioned that forward-looking statements are not guarantees of future performance and that actual results or developments may differ materially from those expressed or implied in the forward-looking statements. Any forward-looking statement made by the Company in this release is based only on information currently available and speaks only as of the date on which it is made. The Company undertakes no obligation to publicly update any forward-looking statement, whether written or oral, that may be made from time to time, whether as a result of new information, future developments, or otherwise.
Photos accompanying this announcement are available at:
globenewswire.com
globenewswire.com
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| From: LoneClone | 10/16/2023 2:50:03 PM | | | | | | When I first was the headline for SVB's latest PR it was partially obscured so all I saw was 'Silver Bull Announces Execution of Key Persons'. Things seemed to have taken a sinister turn indeed!
But once you see the whole headline and read the PR you realize that it announces an agreement hands over 12% of any settlement to six people who are deemed to have made substantial contributions to the effort to get reparations under NAFTA from Mexico because they failed to act to restore SVB's access to their Sierra Mojada property in Coahuilla.
I hope there is some left over for us punters...
Silver Bull Announces Execution of Key Persons Retention Agreement
ca.finance.yahoo.com
Silver Bull Resources, Inc.
Fri, October 13, 2023 at 4:13 p.m. PDT·2 min read
SVBL
0.00%
VANCOUVER, British Columbia, Oct. 13, 2023 (GLOBE NEWSWIRE) -- Silver Bull Resources, Inc. (TSX: SVB, OTCQB: SVBL) (“Silver Bull” or the “Company”) is pleased to announce that following the entering into the litigation funding agreement with Bench Walk Advisors LLC (the “LFA”), the Company has established a Management Retention Agreement (“MRA”), which is a long-term incentive program to retain key personnel of the Company who have important historical information and knowledge to contribute towards the Claim. The MRA provides that if the international arbitration claims against Mexico for breaches of its obligations under NAFTA (the “Claim”) is successful and the Company receives damages proceeds, 12% of the net proceeds will be directed to the MRA for distribution to its participants, which include Timothy Barry, President, CEO and Director, Brian Edgar, Chairman of the Board, Christopher Richards, CFO, Juan Manuel Lopez Ramirez, and David Xuan.
Each participant must satisfy specific Claim related duties and if they do so, each participant may be entitled to a pre-defined percentage of the proceeds received by the MRA.
Certain participants under the MRA constitute related parties of the Company and accordingly the MRA constitutes a “related party transaction” of the Company under Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions (“MI 61-101”). The Company is relying on the exemption from the requirement to obtain a formal valuation pursuant to section 5.5(g) of MI 61-101, which provides an exemption where the criteria set out therein are met.
The Toronto Stock Exchange (the “TSX”) has provided their conditional approval of the MRA, including that the MRA be approved by the Company’s disinterested shareholders at the next Annual Meeting of Shareholders, which will also be sought in compliance with the requirements for minority shareholder approval under MI 61-101.
On behalf of the Board of Directors
“Tim Barry”
Tim Barry, CPAusIMM
Chief Executive Officer and Director
INVESTOR RELATIONS:
1 604 687 5800 info@silverbullresources.com
Cautionary note regarding forward looking statements: This news release may contain certain information that is forward-looking and is subject to important risks and uncertainties (such statements include statements regarding the terms and payment of any amounts under the MRA, final approval of the MRA by the Exchange, any, shareholder approval in respect of the MRA will be obtained and other statements implying a future state which are usually accompanied by words such as "anticipate", "expect", "believe", "may", "will", "should", "estimate", "intend" or other similar words). Any forward-looking statements in this document are intended to provide Silver Bull security holders and potential investors with information regarding Silver Bull, including management's assessment of Silver Bull’s future plans and financial outlook. Any forward-looking statements reflect Silver Bull's beliefs and assumptions based on information available at the time the statements were made and as such are not guarantees of future performance. As actual results could vary significantly from the forward-looking information, you should not put undue reliance on forward-looking information and should not use future-oriented information or financial outlooks for anything other than their intended purpose. There is no guarantee that the Company will be successful in obtaining TSX or shareholder approval in respect of the MRA. For additional information on the assumptions made, and the risks and uncertainties which could cause actual results to differ from the anticipated results, refer to the Company’s filings under Silver Bull’s profile on SEDAR+ at www.sedarplus.ca and with the U.S. Securities and Exchange Commission at www.sec.gov. Readers are cautioned that forward-looking statements are not guarantees of future performance and that actual results or developments may differ materially from those expressed or implied in the forward-looking statements. Any forward-looking statement made by us in this news release is based only on information currently available to us and speaks only as of the date on which it is made. We undertake no obligation to publicly update any forward-looking statement, whether written or oral, that may be made from time to time, whether as a result of new information, future developments or otherwise. |
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| To: LoneClone who wrote (5610) | 10/19/2023 10:29:33 AM | | From: FreedomForAll | | | | And the shareholders get hosed again ... and again.
This management has lined their pockets from day one at shareholders expense repeatedly.
So, yes, another private "funding" (aka screw stockholders scheme) to pay the scum management for doing nothing for the past 4 years.
finance.yahoo.com
These thieves deserve impalement, not payment.
Next headline: another screw shareholders reverse split. |
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| From: LoneClone | 10/31/2023 12:58:44 PM | | | | | | Silver Bull Announces Closing of Non-Brokered Private Placement Pursuant to Listed Issuer Financing Exemption
ca.finance.yahoo.com
Silver Bull Resources, Inc.
Tue, October 31, 2023 at 5:30 a.m. PDT·3 min read
SVBL
+16.9014%
VANCOUVER, British Columbia, Oct. 31, 2023 (GLOBE NEWSWIRE) -- Silver Bull Resources, Inc. (“Silver Bull” or the “Company”) is pleased to announce that, further to its news release of October 16, 2023, subject to approval of the Toronto Stock Exchange (the “Exchange”), it has closed its non-brokered private placement (the “Private Placement”), issuing a fully subscribed 11,685,000 units (the “Units”) at a price of C$0.11 per Unit, for aggregate gross proceeds of $1,285,350.
Each Unit consists of one (1) share of common stock of the Company (a “Common Share”) and one half of one (1/2) common share purchase warrant (each whole warrant, a “Warrant”). Each Warrant is exercisable to acquire one (1) additional Common Share at an exercise price of C$0.13 for a period of five (5) years from the closing date of the Private Placement.
The Company paid an aggregate of C$19,656.30 in finder’s fees to PI Financial Corp, Research Capital Corporation, and Haywood Securities Inc. The Company anticipates using the proceeds from the Private Placement for general working capital and corporate purposes, including investigation and potential acquisition of additional exploration projects.
Subject to compliance with applicable regulatory requirements and in accordance with National Instrument 45-106 – Prospectus Exemptions (“NI 45-106”), the securities were offered for sale to purchasers resident in Canada and/or other qualifying jurisdictions pursuant to the listed issuer financing exemption under Part 5A of NI 45-106 (the “Listed Issuer Financing Exemption”), as well as other available exemptions under NI 45-106. The securities issued pursuant to the Listed Issuer Financing Exemption are not subject to a hold period pursuant to applicable Canadian securities laws but may be subject to hold periods and legended in accordance with the requirements of the Exchange, if applicable. Securities issued pursuant to the Private Placement will be subject to a hold period under applicable U.S. securities laws, which will expire six months from the date of the closing of the Private Placement.
The securities issued under the Private Placement have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”), or any state securities laws, and accordingly, may not be offered or sold within the United States except in compliance with the registration requirements of the U.S. Securities Act and applicable state securities requirements or pursuant to exemptions therefrom.
In connection with the Listed Issuer Financing Exemption, the Company filed an offering document on October 16, 2023, that can be accessed under the Company’s profile on SEDAR+ at www.sedarplus.ca and at www.silverbullresources.com.
Certain directors and management of the Company purchased 2,100,000 Units (C$231,000) in the Private Placement. Their participation in the Private Placement constitutes a “related party transaction” under Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions (“MI 61-101”). Pursuant to sections 5.5(a) and 5.7(1)(a) of MI 61-101, the Company is exempt from obtaining a formal valuation and minority approval of the Company’s shareholders as the fair market value of the participation by these directors and management in the Private Placement is below 25% of the Company’s market capitalization as determined in accordance with MI 61-101.
A material change report including details with respect to the related party transaction could not be filed less than 21 days prior to the closing of the Private Placement as the Company did not receive prior confirmation of such participation and the Company deemed it reasonable in the circumstances so as to be able to avail itself of potential financing opportunities and complete the Private Placement in an expeditious manner.
On behalf of the Board of Directors
“Tim Barry”
Tim Barry, CPAusIMM
Chief Executive Officer and Director
INVESTOR RELATIONS:
1 604 687 5800 info@silverbullresources.com
Cautionary note regarding forward looking statements: This news release may contain certain information that is forward-looking and is subject to important risks and uncertainties (such statements include statements regarding the final approval of the Private Placement by the Exchange and other statements implying a future state which are usually accompanied by words such as "anticipate", "expect", "believe", "may", "will", "should", "estimate", "intend" or other similar words). Any forward-looking statements in this document are intended to provide Silver Bull security holders and potential investors with information regarding Silver Bull, including management's assessment of Silver Bull’s future plans and financial outlook. Any forward-looking statements reflect Silver Bull's beliefs and assumptions based on information available at the time the statements were made and as such are not guarantees of future performance. As actual results could vary significantly from the forward-looking information, you should not put undue reliance on forward-looking information and should not use future-oriented information or financial outlooks for anything other than their intended purpose. There is no guarantee that the Company will be successful in obtaining Exchange approval in respect of the Private Placement, that any investors shall invest in the Private Placement on the terms outlined herein or at all. For additional information on the assumptions made, and the risks and uncertainties which could cause actual results to differ from the anticipated results, refer to the Company’s filings under Silver Bull’s profile on SEDAR+ at www.sedarplus.ca and with the U.S. Securities and Exchange Commission at www.sec.gov. Readers are cautioned that forward-looking statements are not guarantees of future performance and that actual results or developments may differ materially from those expressed or implied in the forward-looking statements. Any forward-looking statement made by us in this news release is based only on information currently available to us and speaks only as of the date on which it is made. We undertake no obligation to publicly update any forward-looking statement, whether written or oral, that may be made from time to time, whether as a result of new information, future developments or otherwise.
 |
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| From: LoneClone | 12/7/2023 1:20:58 PM | | | | | | Arras Minerals Announces Strategic Alliance With Major Canadian Mining Company to Focus on Critical Minerals in Kazakhstan
ca.finance.yahoo.com
Arras Minerals Corp.
Thu, December 7, 2023 at 3:00 a.m. PST·5 min read
ARRKF
-1.1891%
TECK-B.TO
+1.28%
Figure 1
Kazakhstan License Package Showing Arras-Teck Strategic Alliance Areas
A Media Snippet accompanying this announcement is available by clicking on this link.
VANCOUVER, British Columbia, Dec. 07, 2023 (GLOBE NEWSWIRE) -- Arras Minerals Corp. (TSX-V: ARK) (“Arras” or “the Company”) is pleased to announce it has entered into an agreement (the “Strategic Alliance Agreement” or the “Agreement”) with Teck Resources Limited (“Teck”) to form a Strategic Alliance focusing on exploration for critical minerals on Arras’ strategically located license package in the Bozshakol-Chingiz Magmatic Arc located in Pavlodar, Kazakhstan.
The Strategic Alliance does not include the Beskauga copper-gold project, nor the regional exploration licenses Stepnoe, Ekidos, Aimandai and Elemes.
Highlights:
- Teck to solely fund generative exploration work through 2025 with initial expenditures of US$5 million before December 31, 2025, across Package “A” and Package “B” (see map below) totalling approximately 1,736 square kilometres.
- Following the initial generative exploration phase, Teck will have the option to select up to four Designated Properties totalling 120 square kilometres each where Teck will fund exploration expenditures of up to US$47.5 million per project to have the right to earn up to a 75% interest in each project.
- Teck will reimburse Arras for certain project related expenses made to date by Arras through a US$1 million cash payment on signing and potentially other payments in the future should Teck elect to advance through future phases.
- Arras will act as manager for the initial year of the two-year generative program with Teck holding the option to assume the role of manager thereafter.
Tim Barry, CEO, commented, “As an early-mover into Kazakhstan two and a half years ago, following the substantial reforms to the business environment and mining law, Arras has assembled the third-largest land package in the country next to Rio Tinto and Fortescue and is specifically focused on copper in the highly prospective Bozshakol-Chingiz magmatic arc. We recently completed our second summer field season across the regional license package and are now analyzing more than 50,000 soil samples we have collected across the approximately 3,300 square kilometre license package. This program was based on the successful 2022 field program where more than 16,000 soil samples identified new targets to follow up.”
Mr. Barry added, “We believe that the exploration work we have undertaken over the past two summer field seasons representing in most cases the first material modern exploration work done across these licenses since pre-1990, have delineated substantial prospects for a material copper discovery, akin to the successful operations of the Bozshakol and Nurkazgan mines located within the same geological belt.”
Darren Klinck, President, commented, “We are very pleased to be partnering and working with Teck to advance a portion of our regional license package in Kazakhstan. Following their strategic equity investment into Arras last November, this Agreement provides Teck the option to invest significant funds into critical minerals focused exploration through Arras’ project portfolio and it is a clear indication of the potential that exists in the Bozshakol-Chingiz Magmatic Arc. This initiative in Kazakhstan highlights the emerging opportunities in the country and also demonstrates Kazakhstan’s strong position to be a key player globally as the world seeks to secure the necessary critical minerals required over the coming decades.”
Figure 1: Kazakhstan License Package Showing Arras-Teck Strategic Alliance Areas
Kazakhstan License Package Showing Arras-Teck Strategic Alliance Areas
Summary of Strategic Alliance Agreement Terms:
- Teck has the option to sole fund US$2.5 million per License Package for a generative exploration program totaling US$5 million through 2025. Of this, US$2 million (US$1 million on each package) is a firm commitment to complete in 2024.
- Teck will reimburse previous exploration expenditures made by Arras for the amount US$500,000 for each Package “A” and Package “B” totaling US$1 million.
- Following the completion of the initial generative exploration phase of the Strategic Alliance Agreement, Teck will have the option to select up to four Designated Properties from within the Strategic Alliance Agreement Licenses. Each Designated Property shall be contiguous and no larger than 120 square kilometres, with such designation subject to ministerial approval. Teck will make a cash payment of US$500,000 to Arras for each Designated Property as an additional reimbursement for previously invested exploration expenditures.
- “First Option”: Teck may elect to sole fund US$5.5 million over the next two years (US$2.5 million committed in Year 1) and on completion will be deemed to own 51% of the Designated Property.
- “Second Option”: Teck may elect to sole fund US$18 million over the next three years (US$5 million committed in Year 1) to earn an additional 14% (total of 65%) of the Designated Property.
- “Third Option”: Teck may elect to sole fund US$24 million over four years (US$6 million committed in Year 1) to earn an additional 10% (total of 75%) of the Designated Property.
- Arras will act as manager for the initial year of the generative exploration phase and Teck will have the right to assume the role of manager thereafter.
- Arras and Teck will establish a Technical Committee to develop and review the annual exploration programs, with Teck having final approval.
Elemes, Aimandai, Stepnoe & Ekidos Exploration Licenses
The Elemes, Aimandai, Stepnoe and Ekidos Exploration licenses totaling more than 1,150 square kilometres are not subject to the Strategic Alliance Agreement but Teck will retain a right of first offer over Elemes and Aimandai should Arras wish to seek partnership proposals in the future.
Arras successfully collected more than 30,000 soil samples from the Elemes and Aimandai licenses during the summer field season this year. This program followed up on the inaugural field program in 2022 where new targets were identified. The Company expects to have these samples analyzed and modelled in Q1 2024 and will evaluate opportunities to drill-test certain high-priority targets in 2024.
Webinar – Friday December 8th
The Company will host a webinar to discuss the Strategic Alliance in more detail on Friday December 8th at 800am PST. Please contact the company at info@arrasminerals.com for further information. A replay of the webinar will be made available on the Company website.
Qualified Person: The scientific and technical disclosure included in this news release has been prepared under supervision of, and approved by Tim Barry, Chief Executive Officer, and Director of Arras Minerals Corp., who is also a Member and Chartered Professional Geologist (MAusIMM CP(Geo)) of the Australasian Institute of Mining and Metallurgy. Mr. Barry has sufficient experience, relevant to the styles of mineralization and type of deposits under consideration and to the activity that he is undertaking, to qualify as a Qualified Person (“QP”) for the purposes of National Instrument 43-101 Standards of Disclosure of Mineral Projects (“NI 43-101”).
On behalf of the Board of Directors
"Tim Barry"
Tim Barry, MAusIMM CP(Geo)
Chief Executive Officer and Director
INVESTOR RELATIONS:
+1 604 687 5800
info@arrasminerals.com
Further information can be found on the Company’s website globenewswire.com or follow us on LinkedIn: globenewswire.com or on Twitter: globenewswire.com
About Arras Minerals Corp.
Arras is a Canadian exploration and development company advancing a portfolio of copper and gold assets in northeastern Kazakhstan, including the Option Agreement on the Beskauga copper and gold project. The Company has established the third-largest license package in the country prospective for copper and gold (behind Rio Tinto and Fortescue Metals Group). The Company’s shares are listed on the TSX-V under the trading symbol “ARK”.
Cautionary note regarding forward-looking statements: This news release contains forward-looking statements regarding future events and Arras’ future results that are subject to the safe harbors created under the U.S. Private Securities Litigation Reform Act of 1995, the Securities Act of 1933, as amended, and the Exchange Act, and applicable Canadian securities laws. Forward-looking statements include, among others, statements regarding plans and expectations of the exploration program Arras is in the process of undertaking, including the expansion of the Mineral Resource, and other aspects of the Mineral Resource estimates for the Beskauga project. These statements are based on current expectations, estimates, forecasts, and projections about Arras’ exploration projects, the industry in which Arras operates and the beliefs and assumptions of Arras’ management. Words such as “expects,” “anticipates,” “targets,” “goals,” “projects,” “intends,” “plans,” “believes,” “seeks,” “estimates,” “continues,” “may,” variations of such words, and similar expressions and references to future periods, are intended to identify such forward-looking statements. Forward-looking statements are subject to a number of assumptions, risks and uncertainties, many of which are beyond management’s control, including undertaking further exploration activities, the results of such exploration activities and that such results support continued exploration activities, unexpected variations in ore grade, types and metallurgy, volatility and level of commodity prices, the availability of sufficient future financing, and other matters discussed under the caption “Risk Factors” in the Management Discussion and Analysis filed on the Company’s profile on SEDAR on March 30, 2023 and in the Company’s Annual Report on Form 20-F for the fiscal year ended October 31, 2022 filed with the U.S. Securities and Exchange Commission filed on February 24, 2023 available on www.sec.gov. Readers are cautioned that forward-looking statements are not guarantees of future performance and that actual results or developments may differ materially from those expressed or implied in the forward-looking statements. Any forward-looking statement made by the Company in this release is based only on information currently available and speaks only as of the date on which it is made. The Company undertakes no obligation to publicly update any forward-looking statement, whether written or oral, that may be made from time to time, whether as a result of new information, future developments, or otherwise.
A photo accompanying this announcement is available at globenewswire.com
 |
| | Silver Bull Resources, Inc. | Stock Discussion ForumsShare | RecommendKeepReplyMark as Last Read |
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| From: LoneClone | 2/27/2024 1:40:43 PM | | | | | | Silver Bull Provides Update on Its Arbitration Claim Against Mexico
ca.finance.yahoo.com
Silver Bull Resources, Inc.
Tue, February 27, 2024 at 3:00 a.m. PST·1 min read
SVBL
+2.16%
VANCOUVER, British Columbia, Feb. 27, 2024 (GLOBE NEWSWIRE) -- Silver Bull Resources, Inc. (“Silver Bull” or the “Company”) provides an update on progress with its international arbitration claim against the United Mexican States (“Mexico”).
Since our previous update on September 26, 2023, a number of important steps have been achieved in the arbitration process. These include:
- The appointment of a three-person arbitration panel (the “Tribunal”) by the International Centre for Settlement of Investment Disputes (“ICSID”). The Tribunal convened its first session with the parties on February 13, 2024.
- Engagement of a quantum expert by the Company to assess the Company’s claim. The evaluation is underway and will serve as the foundation for determining the value of Silver Bull’s claim against Mexico.
- Establishment of a definitive timeline agreed upon by both parties and the ICSID Tribunal. Silver Bull anticipates filing its Memorial in May 2024, with the Arbitration hearing slated for October 2025.
- The Company and its legal representatives at Boies Schiller Flexner continue to prepare the case. Document analysis and interviews with pertinent personnel are progressing as scheduled.
For background on the basis for the arbitration and ongoing updates with respect to the arbitration, please refer to the Company’s website www.silverbullresources.com/news.
Regarding the arbitration proceedings, Silver Bull is being represented by the global law firm, Boies Schiller Flexner, and is financially supported by Bench Walk Advisors via a Litigation Funding Agreement for up to US$9.5 million to finance the case.
On behalf of the Board of Directors
“Tim Barry”
Tim Barry, CPAusIMM
Chief Executive Officer and Director
INVESTOR RELATIONS:
1 604 687 5800 info@silverbullresources.com
Cautionary note regarding forward looking statements: This news release may contain certain information that is forward-looking and is subject to important risks and uncertainties (such statements include statements regarding the final approval of the Private Placement by the Exchange and other statements implying a future state which are usually accompanied by words such as "anticipate", "expect", "believe", "may", "will", "should", "estimate", "intend" or other similar words). Any forward-looking statements in this document are intended to provide Silver Bull security holders and potential investors with information regarding Silver Bull, including management's assessment of Silver Bull’s future plans and financial outlook. Any forward-looking statements reflect Silver Bull's beliefs and assumptions based on information available at the time the statements were made and as such are not guarantees of future performance. As actual results could vary significantly from the forward-looking information, you should not put undue reliance on forward-looking information and should not use future-oriented information or financial outlooks for anything other than their intended purpose. There is no guarantee that the Company will be successful in obtaining Exchange approval in respect of the Private Placement, that any investors shall invest in the Private Placement on the terms outlined herein or at all. For additional information on the assumptions made, and the risks and uncertainties which could cause actual results to differ from the anticipated results, refer to the Company’s filings under Silver Bull’s profile on SEDAR+ at www.sedarplus.ca and with the U.S. Securities and Exchange Commission at www.sec.gov. Readers are cautioned that forward-looking statements are not guarantees of future performance and that actual results or developments may differ materially from those expressed or implied in the forward-looking statements. Any forward-looking statement made by us in this news release is based only on information currently available to us and speaks only as of the date on which it is made. We undertake no obligation to publicly update any forward-looking statement, whether written or oral, that may be made from time to time, whether as a result of new information, future developments or otherwise. |
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| From: LoneClone | 3/25/2024 3:07:44 PM | | | | | | Arras Minerals Defines a New 14KM Copper Soil Anomaly on the Elemes Project, Kazakhstan
accesswire.com
Monday, 25 March 2024 06:00 AM
VANCOUVER, BC / ACCESSWIRE / March 25, 2024 / Arras Minerals Corp. (TSX-V:ARK) ("Arras" or "the Company") is pleased to introduce the results of its soil sampling program over the Aimandai Target, located within its Elemes Project ("Elemes" or the "Project") in northeastern Kazakhstan. The Elemes project is composed of several mineral licences that are 100% owned by Arras and not included in the Teck-Arras Strategic Exploration Alliance announced on December 7, 2023.
pr.report
Highlights from the Soil Sampling program
- Identified a second, unexplored 14 km x 3.2 km NE-SW trending coherent copper ("Cu") anomaly (>100ppm) called the "Aimandai Target" located within the Elemes Project.
- Large, overlapping Arsenic ("As") anomaly interpreted to be associated with an intermediate - to high sulphidation epithermal system indicating a preserved porphyry system.
- Field mapping and sampling has identified coincident altered rocks typical of a porphyry alteration system that has never been drill tested.
- The Aimandai Target is a parallel copper anomaly to the "Berezski Target," which Arras announced on February 22, 2024. The Berezski Target is an 8.8-kilometer-long copper anomaly with historical drilling that has yielded notable results such as 132 meters at 0.80% CuEq and 108 meters at 0.94% CuEq from surface. Both the Berezski Target and the Aimandai Target are located within the Elemes Project.
Tim Barry, CEO of Arras Minerals stated, "Our Elemes Project is starting to yield some very exciting potential. Recently we announced the "Berezski Target", an 8.8-kilometer-long copper-in-soil anomaly with historical drill holes spread over a 5-kilometer strike of this anomaly, which intercepted 132.6m @ 0.80% CuEq and 108m @ 0.94% CuEq from surface. In this news release we are now announcing a second parallel copper-in-soil anomaly called the "Aimandai Target", that stretches over a remarkable 14-kilometer strike and is associated with "at surface" porphyry-style alteration that has never been drilled. The large alteration zone and associated arsenic anomaly suggests preservation of the upper and generally higher-grade parts of a porphyry system. In summary, we have now defined what appears to be two parallel, multi-kilometer porphyry-epithermal targets (the Aimandai and Berezski targets) on the Elemes Project, which we intend to develop further in 2024."
Figure 1. The 14-kilometer long Aimandai and 8.8-kilometer long Berezski Copper Targets are shown as NE-SW trending copper soil anomalies. The location of historical drill holes is also shown on the Berezski anomaly. There is no known drilling on the Aimandai anomaly.
Figure 2. Soil sampling alteration map on the Elemes project. The 14-kilometer long Aimandai and 8.8 kilometer long Berezski Targets are shown as NE-SW trending zones which correspond to the mapped alteration. Also shown is the location of historical drill holes on the Berezski anomaly. There is no known drilling on the Aimandai anomaly.
Figure 3. Soil anomaly maps showing copper (Cu), and arsenic (As) for the Berezski and Aimandai Targets located within the Elemes Project. The new Aimandai Target copper soil anomaly highlights a second, 14-kilometer-long parallel porphyry system to the Berezski Target that has never been drill tested.
The Soil Sampling Program: In 2023, a comprehensive soil sampling program was undertaken across the Elemes License area. This program specifically targeted the well-developed "B soil horizon" utilizing a 50-meter sample interval and 200-meter line spacing grid.
This press release announces the analysis results from the final 14,000 samples from this program. The 2023 program collected approximately 31,000 samples were collected and covered an area of 328.5 square kilometers and was completed in November 2023.
The soil analysis was conducted utilizing a Portable X-ray fluorescence device ("pXRF"), a widely employed instrument for determining the elemental composition of samples. Due to the limited sampling area of the pXRF, the results presented in this release are considered "indicative" rather than fully quantitative regarding mineralization.
Despite this limitation, the results have revealed a substantial and coherent copper-in-soil anomaly, with copper concentrations exceeding 100 ppm. Background copper in the area is less than 20 ppm. This anomaly stretches over a remarkable distance of more than 14 kilometers in a northeast to southwest direction and extends to approximately 3.2 kilometers in width from east to west. Limited historic drilling has occurred to the south of this new anomaly exploring a series of outcropping low-sulphidation Au-bearing quartz veins.
The Berezski and Aimandai Targets: are located within the 531 square kilometer Elemes Project. The Project benefits from excellent modern infrastructure and ease of accessibility, being located only 20 kilometers from Arras' operational base in the city of Ekibastuz, northeastern Kazakhstan. A paved highway runs through the license, and within 5 km of the two targets. 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 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 and Beskauga Projects and the Tay license which are 100% owned by Arras.
Sampling Methodology
Samples were collected on a 50m (East-west) by 200m (north-south) grid spacings. Samples were collected from hand-dug pits, trying to consistently sample the B horizon. Approximately 500 grams of material was collected and sieved (5mm mesh size) to review larger particles and organic matter. Following collection, the samples were bagged, dried, and analyzed by the company with a Portable Niton XL5 X-ray fluorescence analyzer at the company's core storage facility in Ekibastuz.
Assay, QAQC Procedures
Analysis was conducted using the company's two Niton XL5 portable XRF units. Units were calibrated at the start and end of each work shift as well as after every 100 samples to verify accuracy. In addition, a measurement from a certified reference material was taken every 20 measurements to ensure accuracy and repeatability of data. In addition, prior to commencement of the measurements, 100 duplicate samples were analyzed using both units to confirm that both units were producing accurate results and that no bias was present in either of the units.
All soil material is stored at Arras' warehouse in Ekibastuz, and the company plans to send a proportion of these samples to ALS Chemex in Karaganda, Kazakhstan for reanalysis with a 4-acid digest ICP-MS61 analysis and for trace gold analysis (using Au-ST43).
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"
Tim Barry, MAusIMM CP(Geo)
Chief Executive Officer and Director
INVESTOR RELATIONS:
+1 604 687 5800
info@arrasminerals.com
Further information can be found on:
About Arras Minerals Corp.
Arras is a Canadian exploration and development company advancing a portfolio of copper and gold assets in northeastern Kazakhstan, including the Option Agreement on the Beskauga copper and gold project. The Company has established the third-largest license package in the country prospective for copper and gold (behind Rio Tinto and Fortescue). In December 2023, the Company entered into a strategic alliance with Teck Resources ("Teck") in which Teck will sole fund a US$5 million generative exploration program over a portion of the Arras license package in 2024-2025 focusing on critical minerals. The Company's shares are listed on the TSX-V under the trading symbol "ARK".
Cautionary Note to U.S. Investors concerning estimates of Measured, Indicated, and Inferred Resources: This press release uses the terms "measured resources", "indicated resources", and "inferred resources" which are defined in, and required to be disclosed by, NI 43-101. The Company advises U.S. investors that these terms are not recognized by the SEC. The estimation of measured, indicated and inferred resources involves greater uncertainty as to their existence and economic feasibility than the estimation of proven and probable reserves. U.S. investors are cautioned not to assume that measured and indicated mineral resources will be converted into reserves. The estimation of inferred resources involves far greater uncertainty as to their existence and economic viability than the estimation of other categories of resources. U.S. investors are cautioned not to assume that estimates of inferred mineral resources exist, are economically minable, or will be upgraded into measured or indicated mineral resources. Under Canadian securities laws, estimates of inferred mineral resources may not form the basis of feasibility or other economic studies.
Disclosure of "contained ounces" in a resource is permitted disclosure under Canadian regulations, however the SEC normally only permits issuers to report mineralization that does not constitute "reserves" by SEC standards as in place tonnage and grade without reference to unit measures. Accordingly, the information contained in this press release may not be comparable to similar information made public by U.S. companies that are not subject NI 43-101.
Cautionary note regarding forward-looking statements: This news release contains forward-looking statements regarding future events and Arras' future results that are subject to the safe harbors created under the U.S. Private Securities Litigation Reform Act of 1995, the Securities Act of 1933, as amended, and the Exchange Act, and applicable Canadian securities laws. Forward-looking statements include, among others, statements regarding plans and expectations of the exploration program Arras is in the process of undertaking, including the expansion of the Mineral Resource, and other aspects of the Mineral Resource estimates for the Beskauga project. These statements are based on current expectations, estimates, forecasts, and projections about Arras' exploration projects, the industry in which Arras operates and the beliefs and assumptions of Arras' management. Words such as "expects," "anticipates," "targets," "goals," "projects," "intends," "plans," "believes," "seeks," "estimates," "continues," "may," variations of such words, and similar expressions and references to future periods, are intended to identify such forward-looking statements. Forward-looking statements are subject to a number of assumptions, risks and uncertainties, many of which are beyond management's control, including undertaking further exploration activities, the results of such exploration activities and that such results support continued exploration activities, unexpected variations in ore grade, types and metallurgy, volatility and level of commodity prices, the availability of sufficient future financing, and other matters discussed under the caption "Risk Factors" in the Management Discussion and Analysis filed on the Company's profile on SEDAR on February 28, 2024 and in the Company's Annual Report on Form 20-F for the fiscal year ended October 31, 2023 filed with the U.S. Securities and Exchange Commission filed on February 28, 2024 available on www.sec.gov. Readers are cautioned that forward-looking statements are not guarantees of future performance and that actual results or developments may differ materially from those expressed or implied in the forward-looking statements. Any forward-looking statement made by the Company in this release is based only on information currently available and speaks only as of the date on which it is made. The Company undertakes no obligation to publicly update any forward-looking statement, whether written or oral, that may be made from time to time, whether as a result of new information, future developments, or otherwise.
SOURCE: Arras Minerals Corp. |
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| From: LoneClone | 5/14/2024 2:27:11 PM | | | | | | Arras Minerals Commences 2024 Field Program on Its 3,300 SQ KM Licence Package in Pavlodar, Kazakhstan
accesswire.com
Tuesday, 14 May 2024 06:00 AM
VANCOUVER, BC / ACCESSWIRE / May 14, 2024 / Arras Minerals Corp. (TSXV:ARK) ("Arras" or "the Company") is pleased to announce the commencement of a regional field program across the more than 3,300 square kilometre license package it controls in Pavlodar, Kazakhstan.
Highlights of the Planned 2024 Regional Field Program:
- The 2024 Exploration program will target licences associated with the Teck Strategic Alliance, and Arras's 100% owned Elemes and Tay projects.
- An extensive airborne and ground geophysics program, followed by a mapping, soil sampling and drill program over the Package A and Package B Licences under the Strategic Alliance with Teck Resources Limited ("Teck").
- A geophysics and detailed mapping program followed an initial diamond drill program targeting the Berezski and Aimandai copper targets located within the Elemes Project.
- An initial scout KGK program followed by an initial diamond drill program on the Tay Project, targeting the 6.5-kilometre x 2.1-kilometre Induced Polarization ("IP") chargeability anomaly.
Tim Barry, CEO of Arras, commenting on the upcoming 2024 Field Program, stated, "We are very much looking forward to starting the 2024 field program. This will be our third exploration season in Kazakhstan. Over the previous couple of seasons, we have assembled an excellent team of young local geologists, gained hard won experience on how to effectively explore in Kazakhstan, and put in place robust systems which allows us to quickly assess projects and move them to the next stage. Furthermore in 2024, we are very pleased to also have our partner, Teck, working with us. They will provide invaluable additional support via their technical specialists. We are also excited to follow up on our Elemes and Tay prospects and expect to drill them later in the season after refining the targets with additional mapping and geophysics.
The 2024 field program has the potential to be transformative for Arras. We expect to drill at least three new porphyry prospects this year, which when combined with the Beskauga Project which we have under an option to purchase, means we potentially have at least four porphyry prospects controlled by the company. The project portfolio is close to incredible infrastructure and the country is quickly becoming a tier-one destination for copper and gold exploration globally as demonstrated by many of the copper and gold majors establishing a presence in Kazakhstan over the past 6-12 months."
Arras's licence package is located within the Bozshakol-Chingiz metallogenic belt, a belt of rocks that includes the Bozshakol Mine, as well as the Beskauga copper-gold-silver porphyry deposit currently under option by Arras. The licence package is composed of 17 licences and covers just over 3,300 square kilometres in area and is shown in the map below.
Figure 1. Tay concession location in relation to Arras's License Package showing Arras-Teck Strategic Alliance Areas as "Package A" and "Package B" as well as the Elemes, Aimandai, Stepnoe, & Ekidos licenses which are 100% owned by Arras.
Teck Strategic Alliance: The Teck Strategic Alliance targets two "packages" of licences that covers an area totaling 1,736 square kilometres.
A budget of approximately US$2.5M for 2024 has been established for the Alliance package and will include airborne and ground geophysics followed up by mapping, soil sampling, and targeted KGK and potentially diamond drilling. The initial focus will be on Package "A" with work on Package "B" expected to commence in the coming months.
The Elemes Project - the Berezski and Aimandai Targets: The Berezski and Aimandai targets are located within the 531 square kilometre Elemes Project. The Berezski Target is an 8.8-kilometre-long copper anomaly which was announced in February 2024 and contains shallow historical drilling that has yielded notable results such as 132 meters at 0.80% CuEq and 108 meters at 0.94% CuEq from surface. The Aimandai Target is a 14-kilometre x 3.2-kilometre NE-SW trending coherent copper ("Cu") anomaly (>100ppm) which was announced in March 2024 that is parallel to Berezski and approximately five kilometers to the east and has had no known drilling.
Figure 2. The 14-kilometre long Aimandai and 8.8-kilometre long Berezski Copper Targets are shown as NE-SW trending copper soil anomalies. The location of historical drill holes is also shown on the Berezski anomaly. There is no known drilling on the Aimandai anomaly.
The Project benefits from excellent modern infrastructure and ease of accessibility, being located only 20 kilometres from Arras's operational base in the city of Ekibastuz, northeastern Kazakhstan. A paved highway runs through the licence, and within 5 km of the two targets. 1100 KVA power lines and heavy rail all lie within a 15-kilometre radius of the project.
Over the coming months, both targets will be mapped in detail along with ground geophysics to better refine the drill targets. A diamond drill program is planned to follow to test these two exciting new targets.
The Tay Project - The Tay IP Target: The Tay IP Target is a 6.5-kilometre x 2.1-kilometre East-West trending coherent Soviet-era Induced Polarization ("IP") chargeability anomaly located 28 kilometres north of the Bozshakol open pit copper-gold mine, and 85-kilometres from Arras's operational base in the city of Ekibastuz. The entire prospect is masked with unconsolidated cover believed to be 10-40m deep and has received no systematic modern exploration to date.
Figure 3. Tay Property historical Soviet IP Chargeability Anomaly.
The Tay Prospect is strategically situated with outstanding accessibility and local infrastructure, including nearby high voltage power lines, railway, and roads.
Plans are underway to follow up the chargeability anomaly with a KGK drill program which will drill through the overburden and test the top of bedrock to understand the geology and then follow up with a diamond drillhole program to test the chargeability high.
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"
Tim Barry, MAusIMM CP(Geo)
Chief Executive Officer and Director
INVESTOR RELATIONS:
+1 604 687 5800
info@arrasminerals.com
Further information can be found on:
About Arras Minerals Corp.
Arras is a Canadian exploration and development company advancing a portfolio of copper and gold assets in northeastern Kazakhstan, including the Option Agreement on the Beskauga copper and gold project. The Company has established the third-largest license package in the country prospective for copper and gold (behind Rio Tinto and Fortescue). In December 2023, the Company entered into a strategic alliance with Teck Resources Limited ("Teck") in which Teck will sole fund a US$5 million generative exploration program over a portion of the Arras license package in 2024-2025 focusing on critical minerals. The Company's shares are listed on the TSX-V under the trading symbol "ARK".
Cautionary Note to U.S. Investors concerning estimates of Measured, Indicated, and Inferred Resources: This press release uses the terms "measured resources", "indicated resources", and "inferred resources" which are defined in, and required to be disclosed by, NI 43-101. The Company advises U.S. investors that these terms are not recognized by the SEC. The estimation of measured, indicated and inferred resources involves greater uncertainty as to their existence and economic feasibility than the estimation of proven and probable reserves. U.S. investors are cautioned not to assume that measured and indicated mineral resources will be converted into reserves. The estimation of inferred resources involves far greater uncertainty as to their existence and economic viability than the estimation of other categories of resources. U.S. investors are cautioned not to assume that estimates of inferred mineral resources exist, are economically minable, or will be upgraded into measured or indicated mineral resources. Under Canadian securities laws, estimates of inferred mineral resources may not form the basis of feasibility or other economic studies.
Disclosure of "contained ounces" in a resource is permitted disclosure under Canadian regulations, however the SEC normally only permits issuers to report mineralization that does not constitute "reserves" by SEC standards as in place tonnage and grade without reference to unit measures. Accordingly, the information contained in this press release may not be comparable to similar information made public by U.S. companies that are not subject NI 43-101.
Cautionary note regarding forward-looking statements: This news release contains forward-looking statements regarding future events and Arras' future results that are subject to the safe harbors created under the U.S. Private Securities Litigation Reform Act of 1995, the Securities Act of 1933, as amended, and the Exchange Act, and applicable Canadian securities laws. Forward-looking statements include, among others, statements regarding plans and expectations of the exploration program Arras is in the process of undertaking, including the expansion of the Mineral Resource, and other aspects of the Mineral Resource estimates for the Beskauga project. These statements are based on current expectations, estimates, forecasts, and projections about Arras' exploration projects, the industry in which Arras operates and the beliefs and assumptions of Arras' management. Words such as "expects," "anticipates," "targets," "goals," "projects," "intends," "plans," "believes," "seeks," "estimates," "continues," "may," variations of such words, and similar expressions and references to future periods, are intended to identify such forward-looking statements. Forward-looking statements are subject to a number of assumptions, risks and uncertainties, many of which are beyond management's control, including undertaking further exploration activities, the results of such exploration activities and that such results support continued exploration activities, unexpected variations in ore grade, types and metallurgy, volatility and level of commodity prices, the availability of sufficient future financing, and other matters discussed under the caption "Risk Factors" in the Management Discussion and Analysis filed on the Company's profile on SEDAR+ on February 28, 2024 and in the Company's Annual Report on Form 20-F for the fiscal year ended October 31, 2023 filed with the U.S. Securities and Exchange Commission filed on February 28, 2024 available on www.sec.gov. Readers are cautioned that forward-looking statements are not guarantees of future performance and that actual results or developments may differ materially from those expressed or implied in the forward-looking statements. Any forward-looking statement made by the Company in this release is based only on information currently available and speaks only as of the date on which it is made. The Company undertakes no obligation to publicly update any forward-looking statement, whether written or oral, that may be made from time to time, whether as a result of new information, future developments, or otherwise.
SOURCE: Arras Minerals Corp. |
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|
| From: FreedomForAll | 5/21/2024 11:44:54 AM | | | | | | More dilution at sub-market prices so the "officers" can get inflated salaries.
Another screw-job to shareholders. Thank you sir, may I have another?
Arras Minerals Announces C$2 Million Non-Brokered Financing
finance.yahoo.com |
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|
| From: LoneClone | 5/28/2024 12:53:31 PM | | | | | | Arras Minerals Increases Non-Brokered Financing to C$4.5 Million
accesswire.com
Tuesday, 28 May 2024 06:00 AM
Not for distribution to United States newswire services or for dissemination in the United States
VANCOUVER, BC / ACCESSWIRE / May 28, 2024 / Arras Minerals Corp. (TSXV:ARK) ("Arras" or the "Company") announces today that due to strong demand, the previously announced non-brokered private placement financing (the "Offering") has been increased from up to C$2 million to up to C$4.5 million (the "Upsizing").
Darren Klinck, President of Arras, commented, " We are very pleased with the exceptional strong support from current shareholders in this financing. As we have commenced our third field season in Kazakhstan, it is clear that the progress we have made over the past two years on our project portfolio in the country has advanced a number of very exciting targets. This increased financing will allow us to broaden and expand the program at Elemes and provide flexibility to be opportunistic as our understanding at the Elemes and Tay projects continues to increase."
The Company announced on May 21, 2024 that it had arranged a non-brokered private placement financing of up to 7,692,308 units of the Company ("Units") at a price per Unit of C$0.26 (the "Offering Price") for aggregate gross proceeds of up to C$2 million. Following the Upsizing, the Offering will now comprise of up to 17,307,692 Units at the Offering Price for aggregate gross proceeds of up to C$4.5 million. Under the Offering, each Unit shall be comprised of one (1) common share in the capital of the Company (each, a "Common Share") and one-half of one (1/2) non-transferable Common Share purchase warrant (each whole warrant, a "Warrant"). Each whole Warrant will entitle the holder thereof to purchase one (1) additional Common Share at a price of C$0.40 for a period of (3) years from the closing of the Offering (the "Expiry Date").
In the event the volume weighted average trading price of the Common Shares on the TSX Venture Exchange (the "TSXV") meets or exceeds C$0.60 for fifteen (15) consecutive trading days at any time after four months and one day following closing of the Offering, the Company shall have the option, but not the obligation, at any time thereafter to accelerate the Expiry Date to a date that is thirty (30) days following the date of issuance of a press release by the Company announcing the acceleration of the Expiry Date.
The Offering is scheduled to close on or about June 4, 2024 and is subject to the approval of the TSXV. The securities issued pursuant to the Offering will be subject to a four-month hold period in Canada and will be subject to U.S. resale restrictions under U.S. securities laws as applicable.
The securities to be sold in the Offering have not been, and will not be, registered under the U.S. Securities Act of 1933, as amended ("U.S. Securities Act"), or any state or other applicable jurisdiction's securities laws, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the U.S. Securities Act and applicable state or other jurisdictions' securities laws. This news release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any offer, solicitation, or sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.
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
"Darren Klinck"
Darren Klinck
President and Director
INVESTOR RELATIONS:
+1 604 687 5800
info@arrasminerals.com
Further information can be found on:
About Arras Minerals Corp.
Arras is a Canadian exploration and development company advancing a portfolio of copper and gold assets in northeastern Kazakhstan, including the Option Agreement on the Beskauga copper and gold project. The Company has established the third-largest license package in the country prospective for copper and gold (behind Rio Tinto and Fortescue). In December 2023, the Company entered into a strategic alliance with Teck Resources Limited ("Teck") in which Teck will sole fund a US$5 million generative exploration program over a portion of the Arras license package in 2024-2025 focusing on critical minerals. The Company's shares are listed on the TSXV under the trading symbol "ARK".
Cautionary note regarding forward-looking statements: This news release contains forward-looking statements regarding the Offering, future events and Arras' future results that are subject to the safe harbors created under the U.S. Private Securities Litigation Reform Act of 1995, the Securities Act of 1933, as amended, and the Exchange Act, and applicable Canadian securities laws. Forward-looking statements include, among others, statements regarding the Offering, the participation in the Offering by Teck Resources Limited, the amount of securities that may be sold and proceeds raised by the Company from the Offering, timing of closing of the Offering, the terms to the securities offered under the Offering, the receipt of TSXV and other required regulatory and third party approvals in respect of the Offering, exercise of the Company's acceleration right in respect of the Warrants (or the satisfaction of the acceleration condition in respect thereof), and plans and expectations of the exploration program Arras is in the process of undertaking. These statements are based on current expectations, estimates, forecasts, and projections about Arras' exploration projects, the industry in which Arras operates and the beliefs and assumptions of Arras' management. Words such as "expects," "anticipates," "targets," "goals," "projects," "intends," "plans," "believes," "seeks," "estimates," "continues," "may," variations of such words, and similar expressions and references to future periods, are intended to identify such forward-looking statements. Forward-looking statements are subject to a number of assumptions, risks and uncertainties, many of which are beyond management's control, including investor interest in the Offering and perception of the Company and its business and assets, regulatory approval of the Offering, changes to the market price for the Company's securities, changes to economic conditions, changes to metals and commodity prices, price of inputs, expected costs and timelines to achieve the Company's goals, that general business and economic conditions will not change in a materially adverse manner, financing will be available when needed on economically reasonable terms, undertaking further exploration activities, the results of such exploration activities and that such results support continued exploration activities, unexpected variations in ore grade, types and metallurgy, volatility and level of commodity prices, the availability of sufficient future financing, and other matters discussed under the caption "Risk Factors" in the Management Discussion and Analysis filed on the Company's profile on SEDAR+ on February 28, 2024 and in the Company's Annual Report on Form 20-F for the fiscal year ended October 31, 2023 filed with the U.S. Securities and Exchange Commission filed on February 28, 2024 available on www.sec.gov. Readers are cautioned that forward-looking statements are not guarantees of future performance and that actual results or developments may differ materially from those expressed or implied in the forward-looking statements. Any forward-looking statement made by the Company in this release is based only on information currently available and speaks only as of the date on which it is made. The Company undertakes no obligation to publicly update any forward-looking statement, whether written or oral, that may be made from time to time, whether as a result of new information, future developments, or otherwise.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accept responsibility for the adequacy or accuracy of this release.
SOURCE: Arras Minerals Corp. |
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