Arras Minerals Files NI43-101 Resource of 1.75 Million Ounces of Gold & 333.6 Thousand Tonnes of Copper in the “Indicated” Category, and 1.49 Million Ounces of Gold & 222.2 Thousand Tonnes of Copper in the “Inferred” Category on the Beskauga Copper-Gold Project in North-Eastern Kazakhstan
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VANCOUVER, British Columbia, June 20, 2022 (GLOBE NEWSWIRE) -- Arras Minerals Corp. (TSX-V: ARK) (“Arras”, or the “Company”) is pleased to announce it has filed an updated Mineral Resource estimate report on the Beskauga copper-gold project onto the SEDAR website. Highlights of the updated Mineral Resource report include:
An open pit constrained Indicated Mineral Resource of 111.2 million tonnes grading 0.49 g/t gold, 0.30% copper and 1.34 g/t silver for 1.75 million ounces of gold, 333.6 thousand tonnes of copper, & 4.79 million ounces of silver.
An open pit constrained Inferred Mineral Resource of 92.6 million tonnes grading 0.50 g/t gold, 0.24% copper and 1.14 g/t silver for 1.49 million ounces of gold, 222.2 thousand tonnes of copper, & 3.39 million ounces of silver.
The constraining pit was optimised 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% for silver.
Tim Barry, CEO and Director of Arras states, “We are very pleased with this resource update which gives a good sense of the high-grade core of mineralization we currently see at Beskauga. It is important to note that the mineralization starts at the old paleo-surface of the bedrock and is covered by just over 40 meters of largely unconsolidated soils and gravels. The size and grade of the resource, combined with the low strip, and excellent near-by infrastructure, shows a strong viability for the project moving forward.
Work for 2022 will now focus on step-outs from the known deposit testing the largely unexplored immediate surrounding area.” |
