Update on the Elemes Project... The current Phase 1 core drilling program, totaling approximately 4,000 metres of diamond drilling, has primarily targeted key areas at Berezski Central, Berezski East, Q-Gorka, and K-Ozek. These targets were identified following two seasons of comprehensive exploration work at the Elemes Project, including airborne magnetic and Pole-Dipole Induced Polarization geophysical surveys, as well as extensive soil sampling and mapping. In addition, select historical drill holes from the Berezski East and Q-Gorka targets were re-assayed (refer to Arras news releases dated January 8 and 22, 2024).
While initial assay results from the September and October drilling have taken much longer than anticipated to be processed and verified, the Company now expects to announce these results by early January 2025. Subsequent assay results will be released as they become available.
Comment from Tim Barry, CEO of Arras Minerals...
"We are very pleased with the progress of the core drilling program at Elemes over the past three months. This Phase 1 campaign is testing new target areas developed through our recent fieldwork, and we are encouraged by the early indications we've seen so far that Elemes is indeed a large epithermal-porphyry system that has yet to be explored with modern techniques."