Highlights from the Re-Assay include:
- Q11 - 127.0m of mineralization grading 0.66 % CuEq or 0.80 g/t AuEq (0.61 g/t Au, 0.25 % Cu, 3.6 g/t Ag and 90.4 ppm Mo) starting at 41.0 m from surface.
- Including 62.0m grading 1.53 % CuEq or 1.87 g/t AuEq (1.04 g/t Au, 0.43 % Cu, 4.8 g/t Ag and 156.3 ppm Mo) from 41.0 m depth down-hole.
- Q10 - 132.6m grading 0.80% Cu Eq or 0.96 g/t Au Eq (0.39% Cu, 0.52 g/t Au, 4.1 g/t Ag, 59.5 ppm Mo) from 140.7m depth.
- Including 57.1m grading 1.00 % CuEq or 1.20 g/t AuEq (0.85 g/t Au, 0.45 % Cu, 4.8 g/t Ag and 51.0 ppm Mo) from 188.7 m depth down-hole.
- Q4 - 68.2m of mineralization grading 0.48 % CuEq or 0.58 g/t AuEq (0.41 g/t Au, 0.23 % Cu, 4.5 g/t Ag and 3.7 ppm Mo) starting at 19.8 m from surface.
- Including 14.0m grading 0.69 % CuEq or 0.84 g/t AuEq (0.84 g/t Au, 0.16 % Cu, 7.7 g/t Ag and 3.6 ppm Mo) from 73.2 m depth down-hole.
The mineralization is interpreted as a breccia-hosted intermediate sulfidation epithermal system that forms part of a far larger porphyry-epithermal system within the Elemes licence. The Elemes license also hosts the Berezki copper-gold and Karagandy-Ozek gold prospects all of which were part of the key focus for the 2023 summer field program with more than 30,000 soil samples taken which are now being analyzed.
Once analysis of the full 2023 summer field program has been completed, the Company plans to develop an extensive exploration strategy. This strategy will encompass additional geological mapping and KGK drilling to investigate the geological features concealed beneath younger cover sequences. Any identified targets will then be subject to the company's initial drilling campaign.
A summary of the results announced in this news release is outlined in the table below.
Hole_lD | Azi | Dip | Hole depth (m) | Intersection | Interval | Au | Cu | Ag | Mo | Cu Eq | Au Eq | |
From (m) | To(m) | (m) | (g/t) | (%) | (g/t) | (ppm) | (%) | (g/t) | ||||
Q4 | 090 | -70 | 250.0 | 19.8 | 250.0 | 230.2 | 0.18 | 0.09 | 1.9 | 2.8 | 0.20 | 0.24 |
Including | 19.8 | 88.0 | 68.2 | 0.41 | 0.23 | 4.5 | 3.7 | 0.48 | 0.58 | |||
Including | 73.2 | 87.2 | 14.0 | 0.84 | 0.16 | 7.7 | 3.6 | 0.69 | 0.84 | |||
Q10 | 050 | -70 | 279.5 | 0.0 | 279.5 | 279.5 | 0.31 | 0.20 | 2.3 | 30.0 | 0.40 | 0.48 |
Including | 140.7 | 273.3 | 132.6 | 0.62 | 0.39 | 4.1 | 59.5 | 0.80 | 0.96 | |||
Including | 188.7 | 245.8 | 57.1 | 0.85 | 0.45 | 4.8 | 51.0 | 1.00 | 1.20 | |||
And including | 261.0 | 266.0 | 5.0 | 0.62 | 1.49 | 5.0 | 232.2 | 1.82 | 2.19 | |||
Q11 | 050 | -70 | 291 | 0.0 | 291.0 | 291.0 | 0.29 | 0.13 | 2.0 | 40.5 | 0.32 | 0.39 |
Including | 41.0 | 168.0 | 127.0 | 0.61 | 0.25 | 3.6 | 90.4 | 0.66 | 0.80 | |||
Including | 41.0 | 103.0 | 62.0 | 1.04 | 0.43 | 4.8 | 156.3 | 1.53 | 1.87 |
Table 1. Summary table for historical drill holes Q04, Q10 and Q11 from the
Notes: Copper Equivalent (“CuEq”) grades reported for the drill holes at Quartzite Gorka were calculated using the following formula: CuEq % = Copper (%) + (Gold (g/t) x 0.8264) + (Silver (g/t) x 0.0107) + (Molybdenum (ppm) x 6.0000). Gold Equivalent (“AuEq”) grades reported for the drill holes at Quartzite Gorka 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
The Quartzite Gorka project: is located within the 425 square kilometre Elemes mineral exploration licence. Elemes benefits from excellent modern infrastructure and ease of accessibility, being located only 20 kilometres (“km”) from Arras’ operational base in the city of Ekibastuz, northeastern
Figure 1. Arras Minerals License Package (Pavlodar,
Quartzite Gorka was drilled between 2007 and 2010 by the previous operators. 30 shallow drillholes for a total of 7,550 metres have been historically drilled at the project, to a maximum depth of 301 metres with an average depth of 252 metres per hole. 14 historical drill core (Figure 2) and all available coarse rejects have been acquired by Arras and are stored at the Company’s core storage facility in Ekibastuz. All available drillcores have been re-logged in detail by Arras employees for lithology, structure, alteration, mineralization and petrophysical properties.
The mineralization seen at Quartzite Gorka is interpreted as a breccia-hosted intermediate sulfidation epithermal system that forms part of a much larger porphyry-epithermal system within the Elemes licence that includes the Berezki Central, Berezki East and Karagandy-Ozek prospects. The Elemes licence is located within the Bozshakol-Chingiz metallogenic belt that also hosts the Company’s flagship Beskauga copper-gold-silver Project approximately 80 km to the east, and KAZ Minerals’ Bozshakol porphyry copper-gold mine (one of the largest copper resources in
The re-analysis demonstrated the high-grade nature of the mineralization. Individual assays returned up to 11.2 g/t Au, 4.92 % Cu, 0.48 % Pb, 2.61 % Zn, 0.16 % Sb, 29.1 g/t Ag, and 1,232 ppm Mo, respectively. Mineralization comprises of quartz-pyrite-chalcopyrite ± tourmaline, anhydrite, carbonate, k-feldspar, hematite, sphalerite, galena, tetrahedrite, bornite, molybdenite as a cement within the hydrothermal breccia and as quartz veins (Figure 2). Occasionally the cement lacks quartz and comprises of massive sulfide only. Alteration of the clasts within the breccia is variable and comprises of strongly silicified, phyllic (quartz-pyrite ± sericite, chlorite), argillic (kaolinite-dickite-illite) and potassic (k-feldspar-magnetite-secondary biotite) altered host diorite. Some clasts are rimmed by massive pyrite. The clasts contain rare porphyry-style quartz-chalcopyrite veins. The host diorite intrusion is fine-grained, equigranular and typically highly magnetic. The breccia bodies are enveloped by potassic (k-feldspar-magnetite-secondary biotite) alteration before transitioning to propylitic (chlorite-hematite-carbonate ± epidote) alteration. Rare quartz-chalcopyrite veins ± k-feldspar halos and disseminated chalcopyrite-pyrite occur in the host diorite.
Figure 2. Location of the three holes re-assayed by Arras at the Quartzite Gorka project, Elemes licence. Collars for all historical drilling are shown and approximate outline of the sub-cropping breccia bodies.
Figure 3. Photos of the re-logging of diamond drill core from Quartzite Gorka, including re-assayed holes Q4, Q10 and Q11 showing the typical styles of veining, mineralization and alteration observed at this prospect. Intercepts exceeding 1 % CuEq highlighted in red. Abbreviations used in the descriptions: HyBX – hydrothermal breccia, Di – diorite, hem – hematite, qtz – quartz, tour – tourmaline, cpy – chalcopyrite, py – pyrite, ttr – tetrahedrite, bn – bornite, sph – sphalerite, gal – galena, epi - epidote. Note historical intercepts for non-re-assayed holes are non-NI 43-101 compliant and were only analyzed for Cu, Au and Ag.
Re-logging, Assay, QAQC Procedures: All available drillcores have been re-logged in detail by Arras employees for lithology, structure, alteration and mineralization. In addition, Arras also measured several petrophysical properties on the drillcore including density, magnetic susceptibility, conductivity, resistivity and induced polarization. High resolution photographs of all drillcore were captured using Seequent’s Imago cloud-based image management software. The core was also analyzed for alteration minerals using TerraSpec SWIR/NIR spectroscopy, with interpretation pending.
The re-assayed coarse rejects from Quartzite Gorka were prepared in Arras in-house sample preparation laboratory in Ekibastuz by Arras employees. As the coarse rejects had been in dry storage since 2007/08, they were first re-homogenized by passing through a roller crusher (<2 mm), before being split using a riffle splitter. An approximately one-kilogram split was then pulverized using cup vibration mills to below 75-microns. The pulp was then split again, with 250 g shipped to
Qualified Person: The scientific and technical disclosure for the
On behalf of the Board of Directors
"Tim Barry"
Chief Executive Officer and Director
INVESTOR RELATIONS:
+1 604 687 5800
info@arrasminerals.com
Further information can be found on the Company’s website https://www.arrasminerals.com or follow us on LinkedIn: https://www.linkedin.com/company/arrasminerals or on Twitter: https://twitter.com/arrasminerals
About
Arras is a Canadian exploration and development company advancing a portfolio of copper and gold assets in northeastern
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
Disclosure of “contained ounces” in a resource is permitted disclosure under Canadian regulations, however the
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
Figures accompanying this announcement are available at:
https://www.globenewswire.com/NewsRoom/AttachmentNg/db04312b-028c-42b2-a493-ef3d0b3c332b
https://www.globenewswire.com/NewsRoom/AttachmentNg/bef83fd1-b20b-4d92-83e0-3844abc79d1d
https://www.globenewswire.com/NewsRoom/AttachmentNg/15abbd00-87f8-4973-8b48-5755a2a10289
![](https://ml.globenewswire.com/media/YTgzMGM4YjUtNTRiZS00NWU5LTgxOGUtYjc1ZWY1ZGZmYzU5LTEyMjA4Nzk=/tiny/Arras-Minerals-Corp-.png)
Figure 1.
![](https://ml.globenewswire.com/media/db04312b-028c-42b2-a493-ef3d0b3c332b/medium/figure-1.jpg)
Arras Minerals License Package (Pavlodar, Kazakhstan )
Figure 2.
![](https://ml.globenewswire.com/media/bef83fd1-b20b-4d92-83e0-3844abc79d1d/medium/figure-2.jpg)
Location of the three holes re-assayed by Arras at the Quartzite Gorka project, Elemes licence. Collars for all historical drilling are shown and approximate outline of the sub-cropping breccia bodies.
Figure 3.
![](https://ml.globenewswire.com/media/15abbd00-87f8-4973-8b48-5755a2a10289/medium/figure-3.jpg)
Photos of the re-logging of diamond drill core from Quartzite Gorka, including re-assayed holes Q4, Q10 and Q11 showing the typical styles of veining, mineralization and alteration observed at this prospect.
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