Vancouver, British Columbia - Arras Minerals Corp. (TSX.V: ARK) (“Arras”, or the “Company”) is pleased to announce assay results from holes Bg22014, Bg22015, & Bg22017 from the ongoing drill program at the Beskauga copper-gold deposit and surrounding area (“Beskauga” or the “Project”).
ARRAS MINERALS INTERCEPTS 778.2M @ 0.40% CUEQ, INCLUDING 322.4M
@ 0.51% CUEQ ON THE BESKAUGA LICENCE, NORTHEASTERN KAZAKHSTAN
April 5, 2023 TSX-V: ARK
Vancouver, British Columbia - Arras Minerals Corp. (TSX.V: ARK) (“Arras”, or the “Company”) is pleased
to announce assay results from holes Bg22014, Bg22015, & Bg22017 from the ongoing drill program at
the Beskauga copper-gold deposit and surrounding area (“Beskauga” or the “Project”).
Highlights Include:
Bg22015: 778.2m of mineralization grading 0.40% copper-equivalent (“CuEq”) (0.31 g/t gold
(“Au”), 0.13 % copper (“Cu”), 0.94 g/t silver (“Ag”) starting at 40.8m.
Including: 95.2 m grading 0.61 % CuEq (0.47 g/t Au, 0.20% Cu, 1.27 g/t Ag) starting at 268.0m
depth down-hole.
Including: 322.4 m grading 0.51 % CuEq (0.40 g/t Au, 0.16% Cu, 1.15 g/t Ag) from 446.0m
depth down-hole.
Bg22014: 335.6m of mineralization grading 0.24 grams per ton (“g/t”) gold-equivalent (“AuEq”)
(0.16 g/t Au, 0.05 % Cu, 0.39 g/t Ag, starting at 44.0 m to the end of the drill hole.
Including: 7.0 m grading 1.57g/t AuEq (1.47 g/t Au, 0.06% Cu, 1.75 g/t Ag) starting at 44.0m
depth down-hole.
Including: 8.0 m grading 1.14g/t AuEq (0.56 g/t Au, 0.45% Cu, 1.12 g/t Ag) starting at 369.0
m depth down-hole.
Bg22017: 499.8m of mineralization grading 0.22g/t AuEq (0.15 g/t Au, 0.05% Cu, 0.45 g/t Ag)
starting at 32.5 m to the end of the drill hole.
Including: 12.0 m grading 1.65g/t AuEq (1.27 g/t Au, 0.21% Cu, 3.28 g/t Ag and 204.63 ppm
Mo) starting at 376.0m depth down-hole.
Including: 7.7 m grading 1.14g/t AuEq (0.94 g/t Au, 0.09% Cu, 2.34 g/t Ag and 165.28 ppm
Mo) starting at 465.3m depth down-hole.
Consistent mineralization was seen for the entire length of hole Bg22015 (1,109.8m) and further
defines a high-grade core to the Beskauga deposit within a lower grade halo.
Holes Bg22014 & Bg22017 were drilled 3.2km to the south of the main Beskauga deposit and
show widespread low-grade gold and copper mineralization and suggest another mineralizing
system close-by. Very high molybdenum results were intercepted towards the bottom of hole
Bg22017.
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Tim Barry, CEO of Arras, commenting on these latest results stated, “Our drilling on the Beskauga Project
has continued to produce long intercepts of continuous copper-gold mineralization starting at a depth of
40 meters below the surface. Our recent drilling has demonstrated the continuity of the mineralization to
over one kilometer of vertical depth and has defined a high-grade zone that dips to the SSW. Mineralization
remains open both laterally and at depth and suggests that the Beskauga ore body is much larger than
has been recognized in the NI43-101 report.”
Mr. Barry continued, “Apart from the Beskauga deposit, Arras has begun exploration on the Beskauga
South area, located about 3.2 kilometers to the south of the main deposit. Although the mineralizing
system at Beskauga South is not yet well understood, the presence of broad zones of low-grade gold
mineralization punctuated by high-grade zones suggests there is potential for a bulk mineable target.”
A summary of the results announced in this news release is outlined in the table below.
Table 1. Summary table for drill holes Bg22014, Bg22015 and Bg22017
Notes: Copper Equivalent (“CuEq”) grades reported for the drill holes at Beskauga 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 Beskauga 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$3.00/lb. Copper, US$1,700/oz Gold,
US$22/oz Silver, US$10/lb. Molybdenum, and metallurgical recoveries were assumed to be 100%.
Results of Bg22014, Bg22015 and Bg22017:
Bg22014: was drilled just north of the Beskauga South target, located approximately 3.2 kilometers south
of the Beskauga Main deposit. The aim of the drill hole was to test the major NE-SW trending structure
that links Beskauga South to Beskauga Main and to test for the first time a large IP anomaly along this part
of the structure that coincides with strong Au-Cu-Bi anomalies identified in KGK drilling.
The drill hole intersected andesite basalts and tuffs cut by multiple intrusions of porphyritic quartz
monzonite. The andesite basalts are weakly propylitic altered (chlorite, smectite, magnetite, and epidote),
while the porphyritic quartz monzonite shows weak potassic alteration (K-feldspar, magnetite, epidote,
and rarely biotite). The best mineralized intercepts are hosted in the porphyritic quartz monzonite
intrusions and are related to weak quartz-pyrite veining with occasional zones of chalcopyrite magnetite.
The same style of veining can be seen sporadically in andesite basalts but with much weaker intensity.
Bg22015: was collared 90.0 m to the NW from Arras drill hole Bg21006 (689.2m @ 0.76 % CuEq, including
120.9m @ 2.35% CuEq), and drilled at angle of 85 degrees toward the northeast with final depth of
Interval Au Cu Ag Mo CuEq AuEq
Easting Northing RL From (m) To (m) (m) (g/t) (%) (g/t) ppm (%) (g/t)
587941 5737375 124 300 -70 379.6 44 379.6 335.6 0.16 0.05 0.39 2.86 0.20 0.24
44 51 7 1.47 0.06 1.75 0.67 1.30 1.57
163 196.25 33.25 0.35 0.14 0.90 7.94 0.46 0.56
215.5 221 5.5 0.34 0.14 3.03 7.25 0.48 0.58
262 282 20 0.40 0.04 0.39 4.29 0.39 0.47
369 377 8 0.56 0.45 1.12 7.08 0.95 1.14
588284 5739393 124 20 -85 1109.8 40.8 819 778.2 0.31 0.13 0.94 16.26 0.40 0.49
268 363.2 95.2 0.47 0.20 1.27 20.06 0.61 0.73
446 769.2 322.4 0.40 0.16 1.15 12.83 0.50 0.60
587467 5737504 127 300 -75 532.3 32.5 532.3 499.8 0.15 0.05 0.45 38.20 0.18 0.22
90 101 11 0.38 0.02 0.31 6.50 0.35 0.42
200 209 9 0.46 0.12 1.51 38.46 0.53 0.64
251 256 5 0.26 0.08 0.97 147.31 0.36 0.43
309 322 13 0.15 0.13 0.45 255.40 0.35 0.42
376 388 12 1.27 0.21 3.28 204.63 1.37 1.65
425 433 8 0.45 0.15 0.85 58.64 0.55 0.66
465.3 473 7.7 0.94 0.09 2.34 165.28 0.95 1.14
And Including
And Including
And Including
Bg22017
And Including
And Including
And Including
Including
Bg22015
Intersection
Including
Hole_ID Coordinates (UTM) Azi Dip Hole
depth (m)
Including
And Including
And Including
And Including
And Including
And Including
Bg22014
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1,109.8m. The purpose of the hole was to test a deep Audio-magentotelluric “AMT” anomaly which
started at a depth from 725m It also aimed to further test mineralization intersected at 595m in depth by
drill hole Bg21002 (431m @ 0.68% CuEq).
The drill hole started in moderately, to very strong, argillic altered diorite. The argillic alteration consists
of intense illite-smectite with local kaolinite, before transitioning to very weak illite-smectite alteration.
Preserved remnants of sodic (albite-hematite) alteration starting appeared below depth of 675.0m.
Diorite is cut by three post mineral argillic altered dykes of porphyritic diorite with average thickness of
35.0m at depths of 363.0m, 420.0m and 620.0m and lastly with 22.0m thick barren basalt dyke at 768.4m
depth. Mineralization occurs as quartz-tennantite-chalcopyrite-pyrite stockwork, and sheeted veining
followed by tennantite stringers and weak dissemination of copper sulphides close around the veins. The
presence of bornite is scarce while molybdenite is found in quartz veins beyond depth of 841.0 m.
Bg22017: was collared in fence 450m to the east from hole Bg22014, to test a magnetic anomaly
supported by anomalous gold up to 6 g/t in historical KGK drill holes. After 32.5m of overburden the drill
hole intersected a small interval of porphyritic quartz monzonite before continuing through andesite
basalts and their associated tuffs. From 109.0m the quartz monzonite continued to the end of drill hole,
interspersed with several small intervals of andesite basalt between depths of 301.0m and 331.0m.
Andesite basalts are weakly propylitic (chlorite, smectite, magnetite) altered while quartz monzonite is
altered by weak potassic (K-feldspar, magnetite and rare biotite) alteration. Mineralization is related with
quartz-pyrite veining that has weak presence of chalcopyrite and rarely magnetite.
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Figure 1. Location of the holes completed to date as part of Arras’ planned 30,000-metre drill program on the Beskauga Main
deposit and wider area. The surface projection of the block model from the current NI-43-101 Mineral Resource Estimate is
shown for copper. The inset map in Figure 2 below shows the location of Beskauga Main relative to Beskauga South.
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Figure 2. Location of the holes completed to date at the Beskauga South area, located approximately 3.2 kilometres SSW
from the Beskauga Main deposit, and outside of the current NI-43-101 Mineral Resource Estimate. The inset map shows the
location of Beskauga South relative to Beskauga Main.
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Figure 3. Cross-section showing drill holes Bg22015 in relation to historical drill hole Bg-094. Also shown are grade contours
based on the Beskauga block model for copper (only) developed for the purposes of the current Mineral Resource Estimate for
Beskauga (for further details, please see Arras’ press release on June 20, 2022). CuEq grades of key intercepts in Bg22015 and
historical holes are shown. The cross-section demonstrates the steep dipping high-grade copper-gold-silver trend observed
through Arras’ exploration to date. This trend is observed beginning at the paleo-bedrock surface (41 m in depth) and averages
between 200-300 m wide and to be consistently mineralized down to at least 1000 meters.
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Figure 4. Cross-section showing drill holes Bg22014 and Bg22017 with generalized interpretation of intersected rock units. Key
intercepts of AuEq grades in Bg22014, Bg22017 are shown.
About the Beskauga Deposit : The Beskauga deposit is a gold-copper-silver deposit with an “Indicated”
Mineral Resource of 111.2 million tonnes grading 0.49 g/t gold, 0.30% copper, and 1.3 g/t silver for 1.75
million ounces of contained gold, 333.6 thousand tonnes of contained copper, and 4.79 million ounces of
contained silver and an “Inferred” Mineral Resource of 92.6 million tonnes grading 0.50 g/t gold, 0.24%
copper and 1.1 g/t silver for 1.49 million ounces of contained gold, 222.2 thousand tonnes of contained
copper, and 3.39 million ounces of contained silver. The constraining open pit was optimized and
calculated using a Gross Metal Value (“GMV”) cut-off of $20/tonne based on a price of $1,750/oz for gold,
$3.50/lb for copper, $22/oz for silver, and with an average recovery of 85% for copper and 74.5% for gold
and 50.0% for silver.
Assay and QAQC Procedures: The drill core is cut in half lengthwise with one half (same half, consistently)
collected for analysis, and one half preserved as a record. Bagged samples are sealed to ensure integrity
during transport.
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All sample preparation and geochemical analysis are undertaken by ALS Global at its laboratories in
Karaganda (Kazakhstan) and Loughrea (Republic of Ireland), respectively.
A 30 g split of the pulp is analyzed for gold content by fire assay with an Atomic Absorption Spectroscopy
(AAS) finish (ALS method: Au-AA25™) at ALS Karaganda. A second pulp split is then air freighted to ALS
Loughrea and analyzed for 48 elements by Inductively Coupled Plasma Mass Spectrometry (ICP-MS) after
four-acid digestion on a 0.25 g aliquot (ALS method: ME-MS61™). Any samples exceeding 1% copper are
re-analyzed using a 4-acid digest ICP-MS ore grade method (ALS method: Cu-OG62™).
Arras Minerals operates according to its rigorous internal Quality Assurance and Quality Control (QA/QC)
protocols, which are consistent with industry best practices. This includes the insertion of certified
standards, blanks, and field duplicates comprising of quarter drill core into the sample stream at an
insertion rate of 2.5%, 2.5%, and 5%, respectively, which is deemed appropriate for this stage of
exploration. The blanks and standards are Certified Reference Materials (CRM’s) supplied by Ore Research
and Exploration, Australia.
Internal QA/QC samples are also inserted by the analytical laboratories and reviewed by the Company
prior to release.
Qualified Person: The technical information of this news release has been reviewed and approved by Tim
Barry, a Chartered Professional Geologist MAusIMM CP(Geo), and a qualified person for the purposes of
National Instrument 43-101.
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
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
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 (behind Rio Tinto and
Fortescue Metals Group) prospective for copper and gold in the country. The Company’s shares are listed
on the TSX-V under the trading symbol “ARK”.
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,