ARRAS MINERALS INTERCEPTS 973.2M @ 0.82% CuEq, INCLUDING 531M @ 1.14% CuEq STARTING FROM 44M BELOW SURFACE ON THE BESKAUGA PROJECT IN NORTHEASTERN KAZAKHSTAN.
Vancouver, British Columbia – Arras Minerals Corp. (“Arras”) is pleased to announce the assay results of Bg21001, the first drill hole in a planned 30,000 meter drill program on the Beskauga copper-gold deposit and surrounding area.
Highlights from hole Bg21001 Include:
• Hole Bg21001 – 973.2 meters of mineralization grading 0.82% CuEq (0.56g/t gold, 0.33% copper, and 1.89g/t Ag) starting at 44 meters from surface to end of hole.
• Includes: 531 meters grading 1.14% CuEq (0.78g/t gold, 0.47% copper, and 2.59g/t silver)
starting at 44 meters from surface.
A summary of the results released in this news release is outlined in the table below
Table 1. Summary table of Hole Bg21001
Hole ID Total Depth (m) From (m) To (m) Interval (m) Au g/t Cu % Ag g/t CuEq (%) AuEq g/t Comments Bg21001
1,017.2 43 1,017.2 973.2 0.56 0.33 1.89 0.82 0.98 Ends in
mineralization grading 0.28g/t Au, 1.0g/t Ag, 0.1% Cu
Includes 43 574 531 0.78 0.47 2.59 1.14 1.38
Assumptions used for the copper equivalent calculation were metal prices of US$3.00/lb. Copper, US$1,700/oz Gold, US$22/oz Silver, and recovery
is assumed to be 100%. The following equation was used to calculate copper equivalence: CuEq = Copper (%) + (Gold (g/t) x 0.8264) + (Silver (g/t)
x 0.012).
Drill Program: In October 2021 Arras announced the start of a planned 30,000-meter drill program targeting the extensions of the Beskauga deposit both laterally and at depth. In addition to testing the extents of the Beskauga deposit, the program is also targeting a series of previously undrilled targets in
the wider area. These wider targets are supported by ground and recently flown airborne geophysics as well as in-situ geochemistry derived using “KGK” drilling (a drilling method developed in the former Soviet
Union akin to 'wet' RC drilling, that recovers a 1-3 m core sample from the top of the underlying bedrock which is used to map lithology, alteration, and geochemistry).
For the drilling, Arras is using the local company “Tsentrgeolsemka LLP” and drilling is scheduled to restart
in early February of this year. Tsentrgeolsemka LLP is independent of Arras.
The drill program is being conducted under the Option to Purchase agreement (“Option Agreement”) executed on January 26, 2021, with Copperbelt AG (“Copperbelt”), a mineral exploration company registered in Zug, Switzerland.
Results: The mineralization observed in hole Bg21001 is hosted within a potassic altered diorite that has been later overprinted by strong to very strong argillic alteration comprising of illite and smectite; with
subordinate kaolinite and dickite present at shallow levels (confirmed by Arras using TerraSpec SWIR/NIR
spectroscopy). This mineralization occurs as a mixture of disseminated, vein and fracture-controlled zones of pyrite, chalcopyrite, tennantite, bornite and covellite. Occasional intense zones of sheeted smokey quartz veins (especially near the top of the hole) observed in this mineralization correlate with high grade
gold assays up to 4g/t. The observed argillic overprint gradually decreases with depth, eventually giving way to an apparent, largely unaffected, potassic alteration beyond c. 800 m. At these depths, observed argillic alteration persists only as localized alteration around faults and fractures. Based on exploration
undertaken to date, the Beskauga deposit is interpreted by Arras to represent a porphyry copper-gold
deposit that has been overprinted by high-sulphidation epithermal mineralization, either through
telescoping or due to clustering of multiple porphyry centres within the Beskauga license that have superimposed alteration and mineralization upon earlier phases.
Hole Bg21001 was designed to obliquely test Beskauga’s steep, SE dipping zone of observed high-grade copper-gold-silver mineralization and has returned results that indicate the consistency of the
mineralization in this zone resulting in an interval of 531 meters grading 1.14% CuEq in the top part of the
hole. The bottom part of this hole drifted out of this zone and ended in potassic altered rocks with low observed grades of copper & gold mineralization (0.1g/t Au & 0.1% Cu), although shorter high-grade
intervals with grades up to 1.84 % CuEq (1.45g/t Au, 0.60% Cu, 3.79g/t Ag) were observed down to depths of 945 m.
see & read more on
https://arrasminerals.com/assets/pdf/2022-01-31_NR.pdf |
