Arras Minerals Provides Update on Elemes Drill Program - Kazakhstan
Arras Minerals has provided an update on its ongoing core drilling program at the Elemes Project in Kazakhstan. The Phase 1 program, which began in September, involves approximately 4,000 metres of diamond drilling targeting areas at Berezski Central, Berezski East, Q-Gorka, and K-Ozek. These targets were identified following comprehensive exploration work including airborne magnetic and Pole-Dipole Induced Polarization geophysical surveys, soil sampling, and mapping.
While initial assay results from September and October drilling have been delayed, the company expects to announce these results by early January 2025. The program remains on schedule and is expected to conclude by December end. CEO Tim Barry expressed optimism about early indications suggesting Elemes is a large epithermal-porphyry system yet to be explored with modern techniques.
Arras Minerals ha fornito un aggiornamento sul suo attuale programma di perforazione a nucleo nel Progetto Elemes in Kazakistan. Il programma della Fase 1, iniziato a settembre, prevede circa 4.000 metri di perforazione a diamante mirata a zone come Berezski Central, Berezski East, Q-Gorka e K-Ozek. Questi obiettivi sono stati identificati a seguito di un lavoro di esplorazione completo, che ha incluso sondaggi geofisici a polarizzazione indotta Pole-Dipole, campionamento del suolo e mappatura.
I risultati delle prime analisi dei campioni, provenienti dalle perforazioni di settembre e ottobre, sono stati ritardati, ma l'azienda si aspetta di annunciare questi risultati entro l'inizio di gennaio 2025. Il programma è in linea con il cronoprogramma e dovrebbe concludersi entro la fine di dicembre. Il CEO Tim Barry ha espresso ottimismo riguardo ai primi indizi che suggeriscono che Elemes sia un ampio sistema epithermale-porfirico ancora da esplorare con tecniche moderne.
Arras Minerals ha proporcionado una actualización sobre su programa de perforación de núcleo en curso en el Proyecto Elemes en Kazajistán. El programa de Fase 1, que comenzó en septiembre, implica aproximadamente 4,000 metros de perforación diamante dirigida a áreas en Berezski Central, Berezski East, Q-Gorka y K-Ozek. Estos objetivos se identificaron tras un trabajo de exploración integral que incluyó encuestas geofísicas de polarización inducida por aire y Pole-Dipole, muestreo de suelos y cartografía.
Aunque los resultados iniciales de los análisis de septiembre y octubre se han retrasado, la compañía espera anunciar estos resultados a principios de enero de 2025. El programa sigue en horario y se espera que concluya a finales de diciembre. El CEO Tim Barry expresó su optimismo respecto a las primeras indicaciones que sugieren que Elemes es un gran sistema epiterma-porfirico aún por explorar con técnicas modernas.
Arras Minerals는 카자흐스탄의 Elemes Project에서 진행 중인 코어 드릴링 프로그램에 대한 업데이트를 제공했습니다. 9월에 시작된 1단계 프로그램은 Berezski Central, Berezski East, Q-Gorka 및 K-Ozek 지역을 목표로 약 4,000미터의 다이아몬드 드릴링을 포함합니다. 이러한 목표는 공중 자기 및 극극 극유도 전기 조사, 토양 샘플링 및 측량을 포함한 포괄적인 탐사 작업 후에 식별되었습니다.
9월과 10월 드릴링의 초기 분석 결과는 지연되었지만, 회사는 2025년 1월 초에 이러한 결과를 발표할 것으로 예상하고 있습니다. 프로그램은 일정대로 진행되고 있으며 12월 말까지 완료될 것으로 예상됩니다. CEO 팀 배리는 Elemes가 현대 기술로 탐색되지 않은 큰 에피터말-포르피리 시스템이라는 초기 조짐에 대해 낙관적인 입장을 밝혔습니다.
Arras Minerals a fourni une mise à jour sur son programme de forage à cœur en cours au Projet Elemes au Kazakhstan. Le programme de Phase 1, qui a commencé en septembre, implique environ 4 000 mètres de forage diamant ciblant des zones à Berezski Central, Berezski East, Q-Gorka et K-Ozek. Ces cibles ont été identifiées après un travail d'exploration complet incluant des enquêtes géophysiques par polarisation induite Pole-Dipole, des échantillonnages de sol et de la cartographie.
Bien que les premiers résultats d'analyse des forages de septembre et octobre aient été retardés, la société s'attend à annoncer ces résultats d'ici début janvier 2025. Le programme est toujours dans les délais et devrait se terminer d'ici la fin décembre. Le PDG Tim Barry a exprimé son optimisme quant aux premiers signes suggérant qu'Elemes est un grand système épithermal-porphyrique qui reste à explorer avec des techniques modernes.
Arras Minerals hat ein Update zu ihrem laufenden Kernbohrprogramm im Elemes-Projekt in Kasachstan bereitgestellt. Das Phase-1-Programm, das im September begann, umfasst etwa 4.000 Meter Diamantbohrungen, die auf die Bereiche Berezski Central, Berezski East, Q-Gorka und K-Ozek abzielen. Diese Ziele wurden nach umfassenden Erkundungsarbeiten identifiziert, die Bodenproben, Luftmagnetik und Pole-Dipole Induced Polarization-Geophysikumfragen beinhalteten.
Obwohl die ersten Analyseergebnisse der Bohrungen im September und Oktober verzögert wurden, erwartet das Unternehmen, diese Ergebnisse bis Anfang Januar 2025 bekannt zu geben. Das Programm bleibt im Zeitplan und soll bis Ende Dezember abgeschlossen werden. CEO Tim Barry äußerte sich optimistisch zu den ersten Anzeichen, die darauf hindeuten, dass Elemes ein großes epithermales-porphyrisches System ist, das noch mit modernen Techniken erkundet werden muss.
- Drilling program remains on schedule for completion by December end
- Comprehensive exploration work completed including advanced geophysical surveys
- Early indications suggest presence of large epithermal-porphyry system
- Delays in processing and verifying initial assay results from September and October drilling
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."
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
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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
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.
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