| From: LoneClone | 6/7/2024 1:01:13 PM | | | | | | Arras Minerals Closes C$5.2 Million Non-Brokered Financing
accesswire.com
Thursday, 06 June 2024 06:25 PM
Not for distribution to United States newswire services or for dissemination in the United States.
VANCOUVER, BC / ACCESSWIRE / June 6, 2024 / Arras Minerals Corp. (TSXV:ARK) ("Arras" or the "Company") is pleased to announce that further to its news release dated May 29, 2024, it has closed its previously announced non-brokered private placement (the "Offering") for an aggregate of 20,268,662 units of the Company ("Units") at a price per Unit of C$0.26 for aggregate gross proceeds of approximately C$5.3 million. Pursuant to the Offering, Teck Resources Limited ("Teck") acquired 1,141,000 Units and, following closing, holds approximately 9.3% of the issued and outstanding common shares of the Company (on a partially diluted basis) ("Common Shares").
Darren Klinck, President of Arras, commented, "We are very pleased to close this upsized financing and wish to acknowledge and express appreciation for the strong endorsement our shareholders, including Teck, have shown in supporting the next exploration phase for Arras in Kazakhstan. Our third summer field program is well-underway and we look forward to having steady news flow over the coming months from the more than 3,300 sq km land package we have assembled in northeastern Kazakhstan. During 2024, we expect to be drill-testing targets at Elemes, Tay as well as on projects within the Arras-Teck Strategic Exploration Alliance. As an early-mover into Kazakhstan approximately three years ago, Arras is well-positioned to continue to rapidly evaluate, advance and test copper-gold targets across the third largest land package assembled for copper exploration in the country."
Each Unit is comprised of one (1) Common Share and one-half of one (1/2) non-transferable Common Share purchase warrant (each whole warrant, a "Warrant"). Each whole Warrant entitles 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 news release by the Company announcing the acceleration of the Expiry Date.
The securities issued pursuant to the Offering are subject to a four-month hold period in Canada are subject to U.S. resale restrictions under U.S. securities laws as applicable. Finders fees were paid on a portion of the Offering.
Certain insiders have participated in the Offering and thus a portion of the Offering constitutes a "related party transaction" within the meaning of 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 insider participation is below 25% of the Company's market capitalization as determined in accordance with MI 61-101.
The net proceeds of the Offering will be used to advance exploration activities at the Company's projects in northeastern Kazakhstan and for general corporate purposes.
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 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), use of the net proceeds of the Offering by the Company, 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 on February 28, 2024 and available 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 the Company in this news 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 TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accept responsibility for the adequacy or accuracy of this news release.
SOURCE: Arras Minerals Corp. |
| | Silver Bull Resources, Inc. | Stock Discussion ForumsShare | RecommendKeepReplyMark as Last Read |
|
| From: LoneClone | 6/19/2024 11:54:37 AM | | | | | | Silver Bull Files Memorial in Claim Against Mexico
accesswire.com
Tuesday, 18 June 2024 05:00 PM
VANCOUVER, BC / ACCESSWIRE / June 18, 2024 / Silver Bull Resources, Inc. ("Silver Bull" or the "Company") provides an update on progress with its international arbitration claim against the United States of Mexico ("Mexico").
Silver Bull announces it has filed its memorial submission against Mexico setting out a damages claim of US$408 million under the Agreement between the United States of America, Mexico, and Canada (the "USMCA") and the North American Free Trade Agreement ("NAFTA"):
- The arbitration arises from Mexico's unlawful expropriation and other unlawful treatment of Silver Bull by the Mexican Government resulting in a total loss of its investment due to an illegal blockade of Silver Bull's Sierra Mojada project that began in September 2019 and continues to this day.
- On June 17, 2024, Silver Bull filed its Memorial submission with ICSID detailing the claim against Mexico as well as damages for the sum of US$408 million. The Arbitration hearing is set to commence in October 2025.
- Silver Bull engaged a quantum expert from Berkeley Research Group to assess the Company's damages. This evaluation serves as the foundation for determining the value of Silver Bull's Claim against Mexico.
- A three-person arbitration panel (the "Tribunal") by the International Centre for Settlement of Investment Disputes ("ICSID") has been confirmed, with the Tribunal having convened its first session with the parties on February 13, 2024.
- The Company has hired Boies Schiller Flexner (UK) LLP ("BSF") as Legal counsel for the Claim. BSF is an international law firm with extensive experience in international investment arbitration concerning mining and other natural resources, to act on its behalf. The BSF Team is being led by Timothy L. Foden, a noted practitioner in the mining arbitration space.
- Silver Bull is financially supported by Bench Walk Advisors LLC via a Litigation Funding Agreement ("LFA") for up to US$9.5 million to finance the case and the running of the Company.
Silver Bull's CEO, Mr. Tim Barry commented, "Whilst it had been Silver Bull's intention to continue developing the Sierra Mojada Project, an illegal blockade by a local mining cooperative trying to force an underserved royalty payment from the Company began in September 2019 and continues to this day. Despite multiple favourable rulings by the Mexican Courts that Silver Bull did not owe the blockaders a royalty payment, and numerous requests to the Mexican Government to uphold the law and end the illegal blockade, the Government failed to take any action, preventing Silver Bull from accessing the site for over four years and preventing the Company from conducting its lawful business in Mexico. That failure to act was a breach of Mexico's obligations under the NAFTA. This has resulted in the total loss of Silver Bull's investment and total destruction of shareholder value at Sierra Mojada..
The substantial litigation funding secured under the LFA is a testament to the strength of Silver Bull's claims. The US$9.5 million funding facility is non-dilutive to Silver Bull shareholders and is expected to cover the full legal costs of the claim, expert, and ancillary costs, as well as Silver Bull's operating expenses. Bench Walk will have a contingent entitlement to damages in the event that damages are awarded ".
BACKGROUND TO THE CLAIM: The arbitration has been initiated under the Convention on the Settlement of Investment Disputes between States and Nationals of Other States process, which falls under the auspices of the World Bank's International Centre for Settlement of Investment Disputes (ICSID), to which Mexico is a signatory.
Silver Bull officially notified Mexico on March 2, 2023 of its intention to initiate an arbitration owing to Mexico's breaches of NAFTA by unlawfully expropriating Silver Bull's investments without compensation, failing to provide Silver Bull and its investments with fair and equitable treatment or full protection and security, and not upholding NAFTA's national treatment standard.
Silver Bull held a meeting with Mexican government officials in Mexico City on May 30, 2023, in an attempt to explore amicable settlement options and avoid arbitration. However, the 90-day period for amicable settlement under NAFTA expired on June 2, 2023, without a resolution.
Despite repeated demands and requests for action by the Company, Mexico's governmental agencies allowed the unlawful blockade to continue, thereby failing to protect Silver Bull's investments. Consequently, Silver Bull will seek to recover, based on the Quantum Expert's evaluation, an amount of US$408 million in damages that it has suffered due to Mexico's breach of its obligations under NAFTA.
THE SIERRA MOJADA DEPOSIT: Silver Bull's only current property is the Sierra Mojada deposit located in Coahuila, Mexico. Sierra Mojada is an open pittable oxide deposit with a NI 43-101 compliant Measured and Indicated "global" Mineral Resource of 70.4 million tonnes grading 3.4% zinc and 38.6 g/t silver for 5.35 billion pounds of contained zinc and 87.4 million ounces of contained silver. Included within the "global" Mineral Resource is a Measured and Indicated "high grade zinc zone" of 13.5 million tonnes with an average grade of 11.2% zinc at a 6% cutoff, for 3.336 billion pounds of contained zinc, and a Measured and Indicated "high grade silver zone" of 15.2 million tonnes with an average grade of 114.9 g/t silver at a 50 g/t cutoff for 56.3 million contained ounces of silver. Mineralization remains open in the east, west, and northerly directions.
For a full summary of the Sierra Mojada resource, please refer to Silver Bull's news release located at the following link:
pr.report
On behalf of the Board of Directors
"Tim Barry"
Tim Barry, CPAusIMM
President and 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.
SOURCE: Silver Bull Resources, Inc. |
| | Silver Bull Resources, Inc. | Stock Discussion ForumsShare | RecommendKeepReplyMark as Last Read |
|
| From: LoneClone | 7/22/2024 1:39:44 PM | | | | | | Arras Minerals Initiates Heli-TEMGeophysical Survey of Its Maisor and Aktasty Mineral Licenses, Kazakhstan
accesswire.com
Monday, 22 July 2024 06:00 AM
VANCOUVER, BC / ACCESSWIRE / July 22, 2024 / Arras Minerals Corp. (TSX-V:ARK)(OTCQB:ARRKF) ("Arras" or "the Company") is pleased to announce that its planned 3,381 km airborne (helicopter) electromagnetic (EM) ("Heli-TEM") survey has commenced at the Company's Bozshakol group of licenses. These licenses form part of the Teck-Arras Strategic Exploration Alliance announced on December 7, 2023 (the "Bozshakol Project"), and are located nearby and surrounding the operating large-scale Bozshakol copper mine, operated by Kaz Minerals.
Highlights from the Soil Sampling program
- 3,381 line-kilometer Heli-TEM survey over the entire 1397 square-kilometer Bozshakol project mineral tenement package.
- Survey lines will be flown in a northwest-southeast (125-315) line direction, with lines expected to be approximately 500m apart.
Tim Barry, CEO of Arras Minerals stated, " The commencement of the Heli-TEM survey at the Bozshakol group is an important initiative which we have worked closely with our Alliance partners, Teck Resources on planning. The shallow overburden on most of the project has prevented us from completing geological mapping and soil sampling over the properties and this survey will provide a significant amount of quality data to help guide future exploration as we commence our hunt for additional porphyry deposits adjacent to the large-scale Bozshakol copper mine."
Future work will include evaluation of the airborne survey and ground follow-up that includes ground-based geophysics surveys, trenching and diamond drilling of identified targets.
Figure 1. Map of Bozshakol Group of concessions showing Arras licenses, proposed Heli-TEM flight lines, historic IP anomalies and Bozshakol copper mine location.
Teck Package A - Bozshakol Project:
The Bozshakol Project is located 56km to the northwest of the town of Ekibastuz and surrounds and covers the potential continuation of mineralization of KAZ Minerals' Bozshakol copper- mine.
This area has received limited historic exploration due to unconsolidated cover masking bedrock geology. The property consists of seven exploration licenses and covers approximately 1,400 square kilometres.
The properties are in the Bozshakol-Chingis magmatic arc, which is an accretionary arc composed mainly of volcanics, volcaniclastics, older plutons and a nickel rich ophiolite belt of Cambrian age that have been intruded by mid-Ordovician aged intrusions, several of which host economic copper-gold porphyry mineralization. This package is regionally folded and refolded.
Figure 2. 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 licence which are 100% owned by Arras.
Figure 3. Arras's Heli-TEM Test Flight at Bozshakol Project, July 21 2024
Heli-TEM Background Information
The Heli-TEM system was developed by Fugro Airborne Surveys in the mid 2000's for detection of deep discrete conductive mineral targets or targets obscured by conductive overburden.
The Heli-TEM system is composed of a 40-metre cable to which is attached the transmitter loop. The receiver platform and the receiver coil are located at the centre of the 35 metre diameter transmitter loop approximately 0.1 metre above the centre of the transmitter plane. The real time navigation GPS antenna is on the tail boom of the helicopter. The barometric altimeter, radar altimeter, laser altimeter, video camera and data recorder are all installed in the helicopter. GPS antennae are attached to the transmitter loop to give positional information and transmitter orientation.
The survey uses a 7.5 Hertz ("Hz") one half cycle of the Heli-TEM system that is made up of a square pulse (on-time) of approximately thirty-four milliseconds in duration followed by approximately thirty-four milliseconds of off-time before the pulse is repeated with the opposite polarity. After acquisition the measured data are windowed into twenty-five ranges called "gates". Gate widths increase as time after turn-off increases because as the energy from the transmitter decays a wider sample must be taken to get a valid average. The position of the first off-time gate is selected after examining several flights of data and is as close to the transmitter turn off as possible. The power of the pulse causes eddy currents in the system after the turn off and the first off-time gate cannot start until these have died away. The earliest data has had less time to penetrate the subsurface and so contains information from the near surface.
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" and on the OTCQB under the trading symbol "ARRKF".
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. |
| | Silver Bull Resources, Inc. | Stock Discussion ForumsShare | RecommendKeepReplyMark as Last Read |
|
| From: LoneClone | 11/20/2024 12:18:29 PM | | | | | | Arras Minerals Identifies Multiple New Copper-Gold Targets for Drill Testing in 2025 In Kazakhstan
accesswire.com
Wednesday, 20 November 2024 06:00 AM
VANCOUVER, BC / ACCESSWIRE / November 20, 2024 / Arras Minerals Corp. (TSXV:ARK) ("Arras" or "the Company") is pleased to provide an update on the ongoing exploration program across 1,736 sq km of licenses that form the Arras-Teck Resources Limited ("Teck") Strategic Exploration Alliance.
Highlights from the 2024 Exploration Program
- Multiple new copper & copper-gold drill targets identified from extensive field program, that included:
- Collection of 35,122 soil samples taken across Package "A" and Package "B" areas with XRF analysis partially completed and ongoing
- 11,432.2 meters of KGK drilling in 435 holes testing top of bedrock across Package "A" group of concessions.
- 3,381-line km Heli-TEM survey completed across entire 1397.25 sq km Package "A" group of licenses
- 181 sq km Vector Induced Polarization surveys conducted on Package "A" group.
- 138-line kms of Heli-EM and 47.6 km of Ground IP completed on Package "B" licenses.
- Extensive field mapping across the licence package.
Tim Barry, CEO commented, " The 2024 work program conducted under the Arras-Teck Strategic Alliance was one of the largest exploration programs in Kazakhstan this year, building substantially on our work in 2023. This year's activities have marked a major step forward in defining high-quality drill targets on these projects. Through a combination of soil sampling, geophysics, and KGK drilling to the top of bedrock, we've amassed an extensive regional data set which has identified a series of new untested anomalies across the Arras-Teck Exploration Alliance area."
Mr. Barry added , "It's exciting to witness the significant progress made by the Arras-Teck Exploration Alliance in understanding this prospective and under-explored belt. We anticipate commencing drill-testing of several high-priority copper targets, currently undrilled and under shallow cover, in the first half of 2025."
Figure 1. 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 Project which are 100% owned by Arras.
The license packages are situated in the Bozshakol-Chingis magmatic arc, an accretionary arc primarily composed of volcanic rocks, volcaniclastics, older plutons, and a Cambrian-age nickel-rich ophiolite belt. This region has been intruded by mid-Ordovician intrusions, several of which host economically significant Cu-Au porphyry mineralization.
Package A is located 56km to the northwest of the town of Ekibastuz and surrounds KAZ Minerals' Bozshakol Cu-Au mine 1 and covers the trend which has the potential continuation of mineralization.
This area has received limited historic exploration due to unconsolidated cover masking bedrock geology. The property consists of seven exploration licenses and covers 1,397 square kilometers.
The geology consists of the Middle Cambrian Bozshakol Complex and Lower-Middle Cambrian Bozshakol Group volcanics, and along the southeastern margin of the property occurs a large sedimentary basin of Devonian-Carboniferous-aged rocks.
The property covers several interesting exploration targets and mineralization styles, including porphyry copper-gold deposits, Volcanic-Hosted Massive sulphide deposits (VHMS), and orogenic gold deposits.
Principal Targets defined to date include:
Name
| Target
| Notes
| Boz Ext
| Porphyry
| Large Cu pXRF soil anomaly along trend from the operating Bozshakol Mine.
| Boz N
| Porphyry
| Historic Cu anomaly coincident with a magnetic low.
| Taga
| Porphyry
| Large chargeability anomaly with associated high pXRF KGK Cu anomalies.
| Misyak
| Epithermal
| Significant Arsenic soil anomaly with visible pyrite-quartz-clay alteration.
| Tort Kuduk
| Porphyry
| Coincident soil pXRF Cu and Mo anomalies. Field review found quartz stockwork veining in silicified feldspar porphyry.
| Boz S
| Porphyry
| Coincident Cu-Mo-As and IP anomaly. Minor magnetic low with minor copper supergene mineralization.
| Pinta
| Porphyry-Epithermal
| Large pXRF soil Cu-Mo-As-Ag-Bi-Sb-Zn-Pb-Co soil anomaly with phyllic and propylitic alteration.
| Shirderty
| Porphyry
| Multiple pXRF Cu anomalies associated with annular magnetic targets.
| Aktasty
| Porphyry
| Large broad magnetic anomaly under a package of relatively non-magnetic sediments. Minor pXRF Cu anomaly from KGK drilling
|
Figure 2. Package A License and exploration targets
Package B is located approximately 90km to the southeast of the town of Ekibastuz. The Package consists of two claim packages, Akkuduk and Norgubek.
The geology at Akkuduk consists of Devonian and Silurian-aged porphyritic andesites and basalts emplaced into tuffaceous sediments and conglomerates. Into which, several diorites and granodiorite intrusions have been emplaced.
At Norgubek, the geology consists of Ordovician, Carboniferous, and Devonian volcanic, volcaniclastic, and sedimentary rocks into which several dioritic intrusions have been emplaced. The property is cut by three large, northwest-southeast striking regional faults, which have brought together several different litho-tectonic terranes, each host a distinct style of mineralization, including:
- Cu-Au porphyry mineralization
- Orthomagmatic sulphides Ni-Cu ± Co, PGE mineralization
- Au-rich VHMS (Cu-Au-Ag-Zn-Pb)
The following Principal Targets have been defined:
Name
| Target
| Notes
| Besshoky
| Porphyry-Epithermal
| Broad Cu-Au-Ag-Mo-As-Pb-Zn soil anomaly with coincident IP. Silicified lithocap mapped at surface with tourmaline breccias.
| Kvartsevy
| Orogenic
| Undrilled swarm of 150m long by 3m wide quartz veins with grab samples up to 9.2 g/t Au and 7.8 g/t Ag.
| Kurortskii
| Porphyry-Epithermal
| Coincident Cu-Mo pXRF anomaly with broad magnetic high. Limited Soviet-era drilling reports intercepts up to 10 g/t Au. Gold mineralization occurs as steeply dipping, sheeted quartz veins.
| P39
| Orthomagmatic
| Coincident magnetic high with Ni-Cr-Co soil anomaly, with up to 0.4% Ni in soils.
| Norgubek-Akkuduk
| Porphyry-Epithermal
| Cu-Au mineralisation hosted within quartz diorites and granodiorites, significant intercepts in limited historical drilling e.g., 30.5 m @ 1.65 g/t Au; 30.2 m @ 1.07 g/t Au; 19.8 m @ 1.2 g/t Au
| Uzinsor
| VHMS
| Coincident Pb, Zn, Mo, pXRF soil anomaly hosted on volcaniclastic rocks that have been crosscut by a series of diorite dykes.
|
Figure 3. Akkuduk License and exploration targets
Figure 4. Norgubek License and exploration targets
New High Priority Drill Targets being Finalized
The 2024 exploration program by the Arras-Teck Strategic Alliance, combined with Arras's independent work across its own project portfolio, marks the most extensive greenfield exploration effort focused on copper-gold in Kazakhstan this year. Building on the geochemical and geophysical datasets from fieldwork conducted in 2023, this year's exploration programs are significantly advancing our understanding of the terranes in the Bozshakol-Chingiz Magmatic Arc. These datasets are now producing priority targets, which will be finalized and ranked for drill-testing next year. Over the next 2-3 months, analysis of the various data subsets will continue, with plans underway to prioritize and prepare for a robust drilling campaign commencing in the first half of 2025.
References
1 Bozshakol Mine Reserves - Kaz Minerals 2020 annual report - pr.report
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 may sole fund a US$5 million generative exploration program over a portion of the Arras license package in 2024-2025. The Company's shares are listed on the TSX-V under the trading symbol "ARK" and on the OTCQB under the trading symbol "ARRKF".
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 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. |
| | Silver Bull Resources, Inc. | Stock Discussion ForumsShare | RecommendKeepReplyMark as Last Read |
|
| From: LoneClone | 11/22/2024 12:52:48 PM | | | | | | Sierra Mojada Resources, Announces Groundbreaking Resolution to End the 5-Year Blockade at Mining Project
The Sierra Mojada Mining Project is set to be Conditionally Lifted
accesswire.com
Friday, 22 November 2024 09:00 AM
WEST VANCOUVER, BRITISH COLUMBIA / ACCESSWIRE / November 22, 2024 / Sierra Mojada Resources announces a monumental breakthrough with the UNANIMOUS approval of a RESOLUTION by the "Cooperativa de Explotacion Minera Mlneros Nortenos," CONDITIONALLY ending the five-year blockade at the Silver/Zinc mining project in Sierra Mojada, Mexico.
Merger of Equals: A Path to Resurgence
Sierra Mojada Resources is poised to propose a "Merger of Equals" with the project owners. This strategic alliance represents the most viable and timely solution to address the project's challenges and propel it toward sustainable growth. This strategic alliance aims to:
Restore the project's financial health and ensure its long-term viability.
Enable future operations financing, securing the necessary capital to drive growth and expansion.
Deliver the best possible outcome for all stakeholders, including investors, employees, and the local communities.
Unlocking the Potential of 200,000 Tons of Silver/Zinc Oxides Ore
Sierra Mojada Resources has identified approximately 200,000 tons of high-grade surface silver/zinc oxides ready to be gravimetrically concentrated generating much-needed cash and ensuring the project's financial independence.
A Call to Action for Sustainable Growth
On behalf of the Board of Directors and the stakeholders in the communities of "Sierra Mojada" and "La Esmeralda,", Sierra Mojada Resources, Inc., extends an invitation to all interested parties to join in this transformative journey. Together, we can capitalize on this RESOLUTION and unlock the full potential of the Sierra Mojada mining project creating a thriving enterprise that benefits all stakeholders.
Contact Information:
[Lenic M Rodriguez][200-100 Park Royal South, West Vancouver, B.C. V7T 1A2. CANADA ][(604)871-4160][ConflictResolution@sierramojadaresources.com]
Lenic M Rodriguez, Founder & Executive Chairman
Sierra Mojada Resources, Inc.
www.sierramojadaresources.com
Contact Information
Kevin Heydari
Investor Relations
rdh@canaliscapital.com
(305)776-2100
SOURCE: Sierra Mojada Resources, Inc.
View the original press release on newswire.com. |
| | Silver Bull Resources, Inc. | Stock Discussion ForumsShare | RecommendKeepReplyMark as Last Read |
|
| From: LoneClone | 11/22/2024 5:48:25 PM | | | | | | Comments I posted elsewhere...
There have been some interesting developments at Silver Bull Resources aka SVB's Sierra Mojada prospect in Coahuilla, Mexico. It has been subject to an illegal blockade for the last five years, and SVB is currently in negotiations with the Mexican government for compensation under NAFTA.
But now comes a PR from a private company incorporated in Wyoming that appears to be a new effort by the blockaders. They have offered to end the blockade and drop their lawsuits if SVB is willing to negotiate a 'merger of equals', whatever that means. To me, this indicates they suspect SVB will win a nice-sized compensation package and walk away, leaving them with a deposit they can't raise the money to develop, and that no one else will touch because the ruckus they have raised.
I expect that SVB will push forward with the NAFTA case and only entertain this initiative if they are very unhappy with the results. There has been a lot of bad blood built up between the two sides which will be difficult to overcome.
LC |
| | Silver Bull Resources, Inc. | Stock Discussion ForumsShare | RecommendKeepReplyMark as Last Read |
|
| From: LoneClone | 12/16/2024 12:48:22 PM | | | | | | Arras Minerals Provides Update on Elemes Drill Program - Kazakhstan
accesswire.com
Monday, 16 December 2024 06:00 AM
VANCOUVER, BC / ACCESSWIRE / December 16, 2024 / Arras Minerals Corp. (TSXV:ARK)(OTCQB:ARRKF) ("Arras" or "Arras Minerals" or "the Company") is pleased to provide an update on its ongoing core drilling program at the Elemes Project. The program, which began in September, remains on schedule and is expected to conclude by the end of December.
The current Phase 1 core drilling program, totaling approximately 4,000 metres of diamond drilling, has primarily targeted key areas at Berezski Central, Berezski East, Q-Gorka, and K-Ozek. These targets were identified following two seasons of comprehensive exploration work at the Elemes Project, including airborne magnetic and Pole-Dipole Induced Polarization geophysical surveys, as well as extensive soil sampling and mapping. In addition, select historical drill holes from the Berezski East and Q-Gorka targets were re-assayed (refer to Arras news releases dated January 8 and 22, 2024).
While initial assay results from the September and October drilling have taken much longer than anticipated to be processed and verified, the Company now expects to announce these results by early January 2025. Subsequent assay results will be released as they become available.
"We are very pleased with the progress of the core drilling program at Elemes over the past three months," commented Tim Barry, CEO of Arras Minerals. "This Phase 1 campaign is testing new target areas developed through our recent fieldwork, and we are encouraged by the early indications we've seen so far that Elemes is indeed a large epithermal-porphyry system that has yet to be explored with modern techniques."
 Figure 1. Arras Minerals Elemes Project & additional project portfolio located in Pavlodar, Kazakhstan
 Figure 2. Arras Minerals drilling at Elemes Project, Q4 2024
QUALITY ASSURANCE, QUALITY CONTROL AND 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 Minerals Corp. 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 may sole fund a US$5 million generative exploration program over a portion of the Arras Minerals license package in 2024-2025. The Company's shares are listed on the TSX-V under the trading symbol "ARK" and on the OTCQB under the trading symbol "ARRKF".
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 Minerals' 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 Minerals 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 Minerals' exploration projects, the industry in which Arras Minerals operates and the beliefs and assumptions of Arras Minerals' 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 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. |
| | Silver Bull Resources, Inc. | Stock Discussion ForumsShare | RecommendKeepReplyMark as Last Read |
|
| From: LoneClone | 1/17/2025 12:54:58 PM | | | | | | Arras Minerals Drills 261 Metres @ 0.64% CuEq In First Holes at Berezski Central Target - Elemes Project, Kazakhstan
accessnewswire.com
Wednesday, 15 January 2025 04:15 PM
VANCOUVER, BC / ACCESSWIRE / January 15, 2025 / Arras Minerals Corp. (TSXV:ARK)(OTCQB:ARRKF) ("Arras" or "Arras Minerals" or "the Company") is pleased to provide initial results for the first 3 drillholes from the initial drill program on its Elemes project in Northeast Kazakhstan. All three holes were drilled at the Bereszki Central target and all holes intersected porphyry-style copper-gold mineralization starting from the surface. The Berezski Central target is located on the south part of the >8km long soil copper, molybdenum, arsenic anomaly centered on a zone of extensive intermediate argillic alteration hosted in altered diorites and andesites.
The Elemes project is located in the Bozshakol-Chingiz Magmatic arc and is 61 kilometres Southeast of Kaz Mineral's Bozshakol Copper Mine ("Bozshakol"). The Bozshakol mine commenced operations in 2016 and in FY2023 produced 105,000t Cu & 115,000 oz Au per annum at US$0.95/lb Cu (net) cash costs. Reported reserves are 1.003Bt @ 0.33% Cu & 0.13 g/t Au.
Highlights
- EL24001: 261 m of mineralization grading 0.64% copper-equivalent ("CuEq") (0.39 g/t gold
("Au"), 0.24 % copper ("Cu") starting from the 22 m.
- Including: 69 m grading 0.85% CuEq (0.39g/t Au, 0.42% Cu) starting at 22 m & 48 m grading 1.00 % CuEq (0.77g/t Au, 0.25% Cu) starting at 157 m
- Drill-hole ended in mineralization
- EL24002: returned 102 m of mineralization grading 0.45g/t gold-equivalent ("AuEq") (0.31 g/t gold("Au"), 0.11 % copper ("Cu")) starting at 2 m.
- Including: 34 m grading 0.60 g/t AuEq (0.32g/t Au, 0.13% Cu) starting at 2 m.
- EL24003: 264 m of mineralization grading 0.30g/t gold-equivalent ("AuEq") (0.17 g/t gold("Au"), 0.09 % copper ("Cu")) starting from 41 m.
- Including: 30 m grading 0.46g/t AuEq (0.25g/t Au, 0.16% Cu) starting at 263 m.
Tim Barry, CEO of Arras Minerals noted,"We're excited by these initial holes at the Berezski Central target at Elemes. The drill holes are mineralized over their entire lengths, and logging indicates mineralization is predominantly hosted in argillic and phyllic altered diorites, suggesting that these holes have drilled the large pyrite halo peripheral to the core of a large porphyry system. Starting at approximately 50-100m depth, we are also starting to intersect A-, B- and D-type veins, which are generally found to increase towards the center of porphyry copper deposit."
 Figure 1. Arras Minerals Elemes Project & additional project portfolio located in Pavlodar, Kazakhstan
Darren Klinck, President of Arras Minerals commented," Results from the first 3 holes at Berezski Central are a great indication for the potential that exists at the Elemes Project. Kazakhstan is one of the lowest cost jurisdictions globally for mining. Head-grades of approximately 0.5% CuEq at nearby large-scale operations underpin strong profitability and some of the lowest operating cash costs in the world. This is the first of seven separate target areas being tested up to a depth of approximately 550 m across the 8.8 km Berezski soil anomaly. We will be expecting to release additional results from this program throughout Q1 2025 as they become available."
Table 1. Summary table for drill-holes EL24001, EL24002 and EL24003
Notes: Copper Equivalent ("CuEq") grades reported for the drill holes at Elemes 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 Elemes 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$3.50/lb. Copper, US$2,200/oz Gold, US$24/oz Silver, US$15/lb. Molybdenum, and metallurgical recoveries were assumed to be 100%.
Table 2. Location of the drill holes
Drill-Hole Summaries
EL24001 was designed to test the core of the soil Mo-Cu-As anomalies, with a coincident moderate magnetic and chargeability lows. It was completed at 476.5m depth. The hole started in strong argillic altered andesite tuffs before passing into strongly silicified and faulted diorites at 90.0m depth. Mineralization is represented by quartz - pyrite ± chalcopyrite veins and disseminated pyrite. Molybdenite and supergene enrichment (chalcocite) is observed occasionally in the first 35 m of the drill-hole. The drill-hole ended in mineralization.
EL24002 was aimed to follow-up hole EL24001 and test the extensive soil Mo anomaly. Unfortunately, the hole was lost at 221.7m due to drill failure. The hole was collared in strongly argillic altered andesite tuff up to 60.0m depth, before passing into medium grained diorites to the end of the drill-hole. Mineralization consists of quartz - pyrite ± chalcopyrite veins and pyrite dissemination. Supergene enrichment chalcocite is observed in the first 40 meters of the drill-hole, and the hole intersected several narrow hydrothermal breccias containing clasts of quartz - pyrite - chalcopyrite veins, suggesting the drill-hole was drilled peripheral to the core of a porphyry system.
EL24003 was drilled on the southern edge of the large Mo-Cu soil anomaly. The hole also targeted a large IP Chargeability high and was drilled to 350m depth. The hole was collared in strongly argillic altered andesite tuffs, before passing into diorites at 15m depth. The diorite is strongly argillic altered to 114.0m where it transitions into phyllic dominant alteration. The Diorites hosts D-type quartz-pyrite veins with rare quartz-pyrite-chalcopyrite veins. Disseminated pyrite is found throughout the drill-hole (up to 2% pyrite in areas). In addition, the hole intersected several small intervals of clast supported polymictic hydrothermal breccias.
 Figure 2. Cross-section looking NW showing key intercepts in drill-holes EL24001, EL24002 and EL24003. The cross-section demonstrates a strong porphyry-epithermal style of alteration hosting widely spread, consistent mineralization.
 Figure 3. Berezski Target showing 8.8 km long soil copper anomalies and location of drill-holes EL24001, EL24002 and EL24003
 Figure 4. Photos of core from EL24001, EL24002 and EL24003 showing intercepted style of mineralization and alteration.
Elemes Project
Drilling commenced in September and the Phase 1 program was completed in late December. This program of approximately 4000 metres of diamond drilling has generally focused on priority targets at Berezski Central, Berezski East, Q-Gorka and K-Ozek targets. These targets were identified following two field seasons of comprehensive exploration work at the Elemes Project, including airborne magnetic and Pole-Dipole Induced Polarization geophysical surveys, as well as extensive soil sampling and mapping. In addition, some historical drill holes from the Berezski East and Q-Gorka targets were re-assayed with those results reported in January 2024 (see Arras new releases January 8 & 22, 2024).
Webinar - Thursday January 16th @ 11:00am (EST)
The Company will host a webinar to discuss the initial drill results from the Berezski Target - Elemes Project on Thursday January 16th @11:00am (EST).
To register for the webinar, please visit: pr.report
Please contact the company at info@arrasminerals.com for further information. A replay of the webinar will be made available on the Company website.
QUALITY ASSURANCE, QUALITY CONTROL AND QUALIFIED PERSON
Lengths are drill intersections and not necessarily true widths. True widths cannot be calculated at this time due to the unknown geometry of the mineralization. Drill intersections have been independently selected by Arras Minerals. Drill composites have been independently calculated by Arras Minerals. The geological interpretations in this news release are solely those of the Company. The locations and distances highlighted on all maps in this news release are approximate.
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 Minerals Corp. 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 may sole fund a US$5 million generative exploration program over a portion of the Arras Minerals license package in 2024-2025. The Company's shares are listed on the TSX-V under the trading symbol "ARK" and on the OTCQB under the trading symbol "ARRKF".
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 Minerals' 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 Minerals 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 Minerals' exploration projects, the industry in which Arras Minerals operates and the beliefs and assumptions of Arras Minerals' 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.
 |
| | Silver Bull Resources, Inc. | Stock Discussion ForumsShare | RecommendKeepReplyMark as Last Read |
|
| |
