VANCOUVER, BC / ACCESS Newswire / April 16, 2025 / Arras Minerals Corp. (TSXV:ARK)(OTCQB:ARRKF) ("Arras" or "Arras Minerals" or "the Company") is pleased to announce that it has commenced mobilization of its exploration field program in northeastern Kazakhstan.
Highlights
Geophysics program at the Elemes Project covering both the Berezski and Aimandai targets to commence in the next 10 days
Drilling at the Elemes Project to start at Berezski Central target in May
A core drilling program at the Besshoky target & Ground IP geophysics program at the Bozshakol group of licenses to commence over the next week (Arras-Teck Strategic Alliance)
Tim Barry, CEO of Arras Minerals commented, "We are excited to kick off our 2025 exploration field program in Kazakhstan which promises to expand further on the strong advancements we made last year across the project portfolio. We've enjoyed a much dryer spring across the steppe this year compared to last year and thus we are mobilizing geophysics and drill crews over the next week and expect to further add to these programs over the next 4 to 5 weeks".
Elemes Project
Berezski Target
A Ground Magnetics geophysics program is scheduled to commence next week on the Berezski and Aimandai trends. The program has been designed to assist with structural and target definition.
In addition, the Company plans to undertake a magnetotellurics (MT) and gravity survey across the Berezski Trend to better define potential deeper targets at the Berezski Central and Berezski North Targets.
Drilling is planned to commence in May and will initially begin in the Berezski Central and Berezski North Targets to better understand the controls and extent of the copper-gold mineralization discovered in these areas by the 2024 drilling program. A number of drill-holes are also planned to test additional new high-priority exploration targets along the Berezski Trend.
Aimandai Target
At the Aimandai Target, the company is planning to commence an initial Vector IP geophysics program next week and this will cover approximately 65 sq km. The objective of this program is to define targets for a follow-up Pole-Dipole program that may be undertaken to further refine targeting in advance of a full review and prioritizing of drill targets for later in the season.
A Ground Magnetics program is also planned to commence in May which will help to refine the geological and structural knowledge of the Aimandai trend.
Figure 1. Arras Elemes Project showing soil Copper trends, principal exploration targets and proposed ground mag survey lines
Figure 2. Arras Elemes Project showing soil Copper trends, principal exploration targets and proposed VIP survey area
Arras-Teck Strategic Alliance
Arras is pleased to provide an update on the ongoing exploration program across 1,736 square kilometers ("sq km") of licenses that form the Arras-Teck Resources Limited ("Teck") Strategic Alliance.
Besshoky Target (Package B)
A core drill is expected to arrive next week at the Akkuduk license to begin testing the Besshoky Target. This target has already been refined through a geophysics program last year and is located within a >20 sq km lithocap. The initial drilling has been designed to target the potential core of a porphyry Cu-Au system represented by a magnetic high, thought to be associated with an underlying intrusive related to a porphyry system. Additional drilling will be targeting coincident Au-Mo-Te-Se-As-Sb geochemical anomalies and high chargeable zones defined in the 2024 geochemical and geophysical programs.
Figure 3. Arras-Teck Strategic Alliance exploration targets - Besshoky Target, showing Induced Polarization chargeability anomalies and soil geochemistry anomalies, overlain on Magnetics (Reduced to Pole).
Bozshakol Group (Package A)
A Ground Induced Polarization ("IP") survey has commenced over high-priority areas defined in 2024 and has been designed to further refine targets for drilling over the coming months.
Shiderty
Geophysical data defined a large annular chargeability anomaly with coincident magnetic resistivity lows. The KGK drilling (sub-cover, top of bedrock sampling) returned a multi-element Cu-Au-Mo-Bi-Te-Ag geochem anomaly.
Batpaq
The Batpaq prospect is defined by a discrete magnetic and resistivity lows, with a coincident KGK Cu geochemical anomaly.
Taga-Ketti
At the Taga-Ketti target, KGK drilling defined a coincident As-Tl-Mo anomaly, adjacent to a major deep magnetic high, with localized mag low, thought to be associated with phyllic alteration in a porphyry system.
Bozshakol South
At Bozshakol South ("Boz-S"), mapping identified disseminated Cu-oxides and pyrite in a historical open pit and trenches, that lies at the core of a 5km+ wide chargeability anomaly in Soviet-era data. 2024 exploration defined a coincident magnetic low, with a Cu-As-Pb-Mo geochemical anomaly and Mn-Zn depletion zone (3x3km), suggesting a shallowly buried porphyry system.
Pinta
At Pinta, the 2024 soil sampling program defined a subtle Cu-Mo anomalism in soil data, that is proximal to a deep magnetic source, with a local magnetic low. The EM data also defined a deep E-W EM conductor and with a broad K signature in radiometrics.
Once drilling is completed at Besshoky, we expect the drilling contractor to re-locate to begin testing the refined high-priority targets across the Bozshakol group of licenses.
The Company's Board of Directors has authorized, pursuant to its Equity Incentive Plan, the grant of 2,475,000 stock options ("Options") to certain directors, officers, employees and advisors, effective at the close of trading on April 15 ("Grant Date"). Each Option entitles the grantee to purchase one common share (each, a "Share") in the capital of the Company. The Options were awarded at an exercise price of C$0.83 per Share for a five‐year term. The Options vest over 3 years, with 1/3 of the Option vesting immediately, 1/3 vesting on April 15, 2026 and 1/3 vesting on April 15, 2027.
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 20 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
Arras is a Canadian exploration and development company advancing a portfolio of copper and gold assets in northeastern Kazakhstan, including the Elemes copper-gold porphyry project and 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 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 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.
