Arras Minerals Corp. (TSX-V: ARK) is thrilled to announce the acquisition of the Tay exploration license (“Tay”) in northeastern Kazakhstan. Covering an area of 118 square kilometers, Tay lies within the Bozshakol-Chingiz magmatic arc, an emerging porphyry province in the region. Situated 28 kilometers north of the Bozshakol open pit copper-gold mine operated by Kaz Minerals, Tay represents a significant addition to Arras’ portfolio, fully owned and not part of the Teck-Arras Strategic Exploration Alliance.
Highlighted features of the Tay project include a 6.5 km x 2.1 km East-West trending coherent Soviet-era Induced Polarization (“IP”) chargeability anomaly, akin to the chargeability high observed at the Bozshakol mine. Despite being a buried target with no systematic modern exploration, Tay presents immense potential, strategically positioned with excellent accessibility and local infrastructure. The project boasts nearby high voltage power lines, railway connections, and roads, facilitating efficient exploration endeavors.
Tim Barry, CEO of Arras Minerals, expressed enthusiasm, stating, “Discovering such a promising porphyry prospect adjacent to a major operational copper-gold mine like Bozshakol is rare. Tay’s historical IP anomaly mirrors the scale and strength of Bozshakol’s anomaly, remaining relatively unexplored. With shallow sediment cover and a clear continuation of the anomaly to the west, Tay holds significant promise for exploration discoveries.”
Situated 28 km north of Kaz Mineral’s Bozshakol Mine and 85 km from Arras’ operational base in Ekibastuz, northeastern Kazakhstan, the Tay project lies within the Bozshakol-Chingiz metallogenic belt. The area is known for its mineral-rich deposits, including the Beskauga copper-gold-silver porphyry deposit and Arras’s Elemes project, an emerging copper-gold porphyry prospect.
Geological assessments reveal that Tay’s geology comprises volcano-sedimentary and sedimentary rocks intersected by major fault zones and intrusive stocks. The historic chargeability anomaly suggests the presence of a buried porphyry-Cu-Au deposit beneath quaternary cover. Arras plans to conduct property-wide airborne magnetic surveys and drilling programs in 2024 to gain a better understanding of the property geology and unlock its full potential.
LATEST NEWS
-
Resistance to EU Coal Phase-Out Evident in Bulgarian Mining Village
08/05/2024
-
Polish Government Sticks to Coal Exit Plan Despite Calls for Acceleration
08/05/2024
-
Polish Government Delays Spin-Off Plan for State-Owned Coal Power Plants
08/05/2024
-
Kazakhstan Implements Measures to Address Raw Material Shortage
08/05/2024
