Beskauga Drilling Continues To Deliver Significant Copper-Gold Mineralization

VANCOUVER - Arras Minerals Corp. reported on the ongoing drill program at the Beskauga copper-gold deposit and surrounding area. Highlights: The Bg22021: 603.7 m of mineralization grading 0.40% copper-equivalent (“CuEq”) (0.24 g/t gold (“Au”), 0.19 % copper (“Cu”), 0.86 g/t silver (“Ag”)) starting at 136.0 m, including 317.6 m grading 0.55 % CuEq (0.35 g/t Au, 0.25% Cu, 1.05 g/t Ag) starting at 351.0 m depth down-hole; Consistent mineralization was seen for the entire length of hole Bg22021 (739.7 m) and further defines a high-grade core to the Beskauga deposit within a lower grade halo; Bg22022: 546.9 m of mineralization grading 0.14 gram per ton (“g/t”) gold-equivalent (“AuEq”) (0.12 g/t gold (“Au”), 0.01 % copper (“Cu”), 0.1 g/t silver (“Ag”)) starting at 31.1 m to the end of the drill hole, including 65.0 m grading 0.44g/t AuEq (0.41 g/t Au, 0.02% Cu, 0.2 g/t Ag) starting at 105.0 m depth down-hole, and 34.0 m grading 0.30g/t AuEq (0.28 g/t Au, 0.01% Cu, 0.13 g/t Ag) starting at 243.0 m depth down-hole.

Tim Barry, CEO, said, “Drilling at Beskauga continues to deliver near-surface, broad intervals of significant copper-gold mineralization. Hole Bg22021 also included two zones of high-grade mineralization including 26 meters at @ 1.01% copper equivalent and another zone of 18 meters at 1.41% copper equivalent. These grades are indicative of high-grade zones found throughout the deposit which we continue to review as we explore for the core of this very extensive system.”

Bg22021: drill hole was designed as an infill in an untested zone between Arras drill holes Bg21008 and Bg21004 and further tested the eastern boundary of the potassic-altered monzodiorite intrusion (magnetic bullseyes) at Beskauga main Cu-Au deposit. Drill hole also targeted deeper extension of mineralization based on the defined steep SW plunge of Beskauga Main Cu-Au mineralization. The drill hole started in weak to moderate argillic (Illite-smectite) altered diorite. Diorite Cu-Au mineralization is comprised from quartz-tennantite-chalcopyrite veins and weak tennantite-chalcopyrite dissemination within broad veins halo. Bornite is rarely observed. Diorite is cut by two post mineral porphyritic diorite dykes at 193.5-245.0m and 325.0-330.7m. At 344.1 m after diorite drill hole continued in potassic (biotite, K-Feldspar, magnetite) altered monzodiorite. Monzodiorite mineralization is seen in quartz-pyrite-chalcopyrite veins with weak and rare presence of bornite and molybdenite, and very rarely covellite and tennantite closely related with weak and local - structurally controlled epithermal overprint. Monzodiorite is cut by couple of post mineral porphyritic diorite dykes. After monzodiorite from 668.8 m drill hole ended in weakly potassic (K-Feldspar, magnetite, biotite) altered microdiorite. Microdiorite mineralization is comprised by weak quartz-chalcopyrite-pyrite veins and weak presence of chalcopyrite only veinlets.

Bg22022: drill hole was collared as a step back hole on fence of holes Bg22011 and Bg22013 200 m SW of Bg22013. Tested the continuity and geometry of the strong Au mineralization in these earlier holes and potential of NW-SE striking magnetic low corridor. Drill hole intersected quartz monzonite with moderate Argillic (illite-smectite) alteration in first 379.0 m from where alteration gradually changed to weak potassic (K-Feldspar, magnetite, epidote) alteration and continues till the end of the drill hole. Quartz monzonite is cut by porphyritic quartz monzonite at 135.0-150.3 m. Unmineralized basaltic andesite is intersected at 311.6-355.8m. Intersected mineralization is mainly related to the quartz-pyrite veins with sporadic mainly weak presence of chalcopyrite, and infrequent quartz-magnetite veins with first appearance starting from 390.0m to the end of the drill hole.

Bg22019: Hole designed as 200 m step back to the SW from drilled hole Bg22016 with aim to test continuation of phyllic altered Diorite hosting Quartz-Pyrite veining intersected in hole Bg22016. Testing strong magnetic low anomaly corresponding with interpreted phyllic magnetite destructive alteration starting from top to the bottom of proposed hole and testing chargeability high anomaly. The drill hole intersected diorite with strong phyllic (sericite-pyrite) alteration up to 200 m depth where phyllic alteration becomes weaker further down the hole and potassic (K-Feldspar, biotite, magnetite) alteration remnants start prevailing. Weak random Au and Cu mineralization is related mainly with quartz-pyrite (D type) veins having sporadic weak presence of chalcopyrite within the first 300 m of drill hole.

Bg22018: drill hole was drilled at angle of 65 degrees toward northeast to test anomalous KGK copper values going up to 0.47 % and 0.15 g/t Au, and to test demagnetized zone surrounding several discreet mag highs. With first 154.0 m drill hole intersected weak potassic (magnetite-biotite-epidote-chlorite) altered monzonite cut by several less than 1.0 m thick apophyses of diorite. Monzonite weak mineralization is driven by weak veining of quartz-pyrite-chalcopyrite veins. From 154.0 m drill hole continued through propylitic (epidote-magnetite-smectite) altered diorite with sporadic presence of quartz-pyrite veins without significant mineralization. The drill hole is terminated at depth of 357.1m.

Bg22016: was drilled approximately 1 km west of the Beskauga Main deposit with aim to test magnetic low and chargeability high anomalies, and anomalous As, Cu, Au, Bi and Mo values in historical KGK drilling. The drill hole started in diorite with moderate phyllic (sericite-pyrite) alteration up to depth of 163.2m down the hole. Diorite is hosting moderately intense quartz-pyrite (D type) veins with typical sericite halo and carrying weak and on spots Au mineralization. After diorite from 163.2m drill hole continued through in lithic tuff that is moderately argillic (kaolinite-illite) altered but hosting no veining and mineralization. Drill hole is terminated at 247.4 m depth.