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Arras Minerals Reports First High-Grade Gold and Silver in Grab Samples From the Elemes License
VANCOUVER, British Columbia, July 11, 2023 (GLOBE NEWSWIRE) -- Arras Minerals Corp. (TSX-V: ARK) (“Arras” or “the Company”) is pleased to announce the results o
About this update from Arras Minerals Corp
[{"type":"text","content":" VANCOUVER, British Columbia, July 11, 2023 (GLOBE NEWSWIRE) -- Arras Minerals Corp. (TSX-V: ARK) (“Arras” or “the Company”) is pleased to announce the results of 135 grab samples taken from Soviet-era exploration trenches at the Karagandy-Ozek project (“Karagandy-Ozek” or the “Project”) located within the Company’s Elemes exploration licence (“Elemes” or the “Licence”) in northeastern Kazakhstan. Highlights include: A total of 135 grab samples, collected by Arras, have returned grades up to 29 grams per tonne (“g/t”) gold (“Au”), 287 g/t silver (“Ag”) and 238 g/t tellurium (“Te”), with average grades of 3.5 g/t Au, 15.3 g/t Ag and 18.7 ppm Te. The northern most trenches delineate a zone of high-grade Au mineralization of at least 650 meters that remains entirely open to the NE. The average grade for 63 grab samples collected from the northern zone is 5.6 g/t Au, 20.4 g/t Ag and 29.5 ppm Te. The mineralization is interpreted as a low sulfidation epithermal gold-silver deposit that forms part of a far larger porphyry-epithermal system within the Elemes license that includes the Berezki Central and Berezki East porphyry copper-gold prospects, and Quartzite Gorka breccia-hosted intermediate sulfidation epithermal copper-gold-silver-lead-zinc prospect. Located to the nearby past-producing, high-grade epithermal Au-Ag Aimandai mine. Tim Barry, CEO, commented, “We are very pleased with our first pass sampling program of the Elemes licence. Our mapping and sampling program suggests we have a fully intact, and largely unexplored epithermal and porphyry system. It should be noted that the mineralization identified in the Elemes licence is a completely different mineralizing system to the Beskauga deposit, which sits 85 kilometers to the east. We believe we are just scratching the surface of the potential of the Bozshakol-Chingiz metallogenic arc and our team is methodically advancing towards establishing drill targets at some of these new areas.” Figure 1. Arras Minerals License Package (Pavlodar, Kazakhstan) A summary of grab samples with over 5.0 g/t gold announced in this news release is outlined in the table below. Table 1. Grab samples with over 5.0 g/t Au from the Karagandy-Ozek prospect. The Karagandy Ozek Project: is located within the 425 square kilometer “Elemes” mineral exploration license, which was acquired in 2022. Elemes b...