Arras Minerals Announces Plans to Drill Multiple Targets Identified Under Strategic Alliance

Globe and Mail

26-02-2025

VANCOUVER, BC / ACCESS Newswire / February 26, 2025 / Arras Minerals Corp. (TSX-V:ARK)(OTCQB:ARRKF) ("Arras" or "Arras Minerals" or "the Company") 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. The Company is working with contractors to finalize contracts to initiate geophysical and drilling programs expected to commence in the second quarter.
Highlights for the 2025 Arras-Teck Strategic Alliance Program
Multiple copper and copper-gold drill targets identified from extensive 2024 field program
+5,000m follow up diamond drill program planned on multiple targets
Targeted 75 line-km Pole-Dipole Induced Polarization ("P-DP IP") program planned
Arras (via its subsidiary) to continue to operate the program on behalf of Teck in 2025.
Tim Barry, CEO of Arras Minerals commented, " The 2024 exploration program was a tremendous success, leading to the identification of multiple high-quality drill targets. Our team has been working hard to compile and interpret the vast amount of data collected with strong support from Teck to plan the follow up drill campaign on these targets in 2025. We're particularly excited with the range of targets that have been identified and we hope to replicate our recent success on our Elemes Project by making a new porphyry discovery in Kazakhstan".
Figure 1. Arras's License Package showing Arras-Teck Strategic Alliance Areas as "Package A" and
"Package B" as well as remaining Arras licenses (shown in blue)
New High Priority Drill Targets Being Finalized: The Arras-Teck Strategic Alliance, along with Arras's independent exploration efforts, represented one of the most extensive greenfield copper-gold exploration programs in Kazakhstan in 2024. This work has further refined our understanding of the Bozshakol-Chingiz Magmatic Arc and led to the identification of high-priority drill targets, which we plan to test with drilling expected to commence in April this year.
Summary of "Package A" Targets: Package A comprises seven exploration licenses spanning 1,397sq km, located 56 km northwest of Ekibastuz. It surrounds KAZ Minerals' Bozshakol copper-gold mine and covers the potential extension of the Bozshakol trend. Prior to Arras' 2024 exploration program, the area had undergone limited historic exploration. The property hosts several promising targets with diverse mineralization styles, including porphyry copper-gold, Volcanic-Hosted Massive Sulphide (VHMS), and orogenic gold.
Priority Exploration Targets in "Package A" for 2025 Program:
Taga-Ketti Target: The Taga-Ketti target is approximately 20 km to the east-northeast from the Bozshakol Mine and may be on the same structural trend. Wide spaced KGK drilling identified several diorite intrusions with anomalous geochemistry. The geophysical data show a high chargeability halo with a resistivity low at center over the target suggesting potential porphyry-style mineralization.
The upcoming exploration program at Taga-Ketti target is planned to commence with a follow-up Induced Polarization ("IP") survey to further define drill targets for testing in Q3 2025.
Shirderty Target: The Shirderty target is located on a large structural trend that runs parallel to the Bozshakol Mine trend. Wide-spaced (500m spacing) KGK drilling defined a large (2 km by 2 km) coincident geochemical anomaly associated with discrete annular magnetic targets and electromagnetic anomalies suggest the potential for porphyry-style mineralization at this target.
At Shirderty, exploration will commence with an IP program to refine exploration targets, followed by drilling in Q2/Q3 2025.
Pinta Target: The Pinta target is defined by a large copper soil anomaly coincident with large high amplitude EM anomalies. The area is covered with minimal outcrops, but minor moderately altered intrusions have been mapped in the area. An IP program is planned to define drill targets.
Tort-Kuduk Target: The Tort-Kuduk Target is a porphyry Target defined by a coincident copper-molybdenum geochemical anomaly. Field mapping identified outcropping Quartz-feldspar porphyry with veining. The EM survey defined a strong conductivity anomaly stretching south from coinciding Mo-Cu Soil anomaly. The company is planning an IP program to better define drill targets for follow-up drilling.
Summary of "Package B" Targets: consists of three exploration licenses covering 629.8 sq km, located approximately 90 km southeast of Ekibastuz. The geological setting is dominated by Devonian and Silurian-aged porphyritic andesites and basalts, which have been emplaced into tuffaceous sediments and conglomerates. Several diorite and granodiorite intrusions cut through these units, and the district is structurally controlled by a series of large northwest-southeast striking regional faults. The area hosts multiple mineralization styles, including Cu-Au porphyry systems, Orthomagmatic Nickel (Ni) sulphides, and Au-rich Volcanic-Hosted Massive Sulphide (VHMS) deposits.
Priority Exploration Target in "Package B" for 2025 Program:
Figure 3. Akkuduk License and exploration targets
Besshoky Target: The Besshoky target is a poorly explored >20 sq km lithocap with coincident Cu-Mo-Se-Bi-As soil and IP chargeability anomalies. Surface mapping has identified a series of porphyritic andesites with tuffaceous conglomerates that have been intruded by a series of granites. The lithocap consists of strongly altered breccias with wide-spread secondary quartzites, with advanced argillic, phyllic and propylitic alteration. The lithocap is interpreted to represent the high part of a porphyry-epithermal system.
The company is planning to drill the Besshoky lithocap to gauge its potential to host porphyry Cu-Mo mineralization and high-sulfidation epithermal Au mineralization.
Darren Klinck, President of Arras Minerals commented, "The Arras-Teck Strategic Alliance made significant advances in 2024 and the systematic approach by the team has now generated a number of high-priority targets for follow-up and drill-testing this year. This 2025 program presents multiple opportunities to advance promising targets on our license package in a region with proven successful operating mines but limited modern exploration over the past three decades. With multiple new targets to be tested on the Strategic Alliance, combined with our planned Phase 2 program at Elemes, Arras is in a unique position to have a number of key catalysts to drive significant value over the next twelve months".
References
1 Bozshakol Mine Reserves - Kaz Minerals 2020 annual report - https://www.kazminerals.com/media/22038/kaz-minerals-annual-report-2020.pdf
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 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 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.
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