Unexpected Copper Concentration Sends Shares of this Junior Miner Higher

By: Dylan Sikes – AllPennyStocks.com News

Monday, March 25, 2024

Markets are trending lower on this Monday but shares of this junior miner are up following news of a copper soil anomaly at its Kazakhstan project. Copper is being increasingly used given its properties as a conductor and use in electronics and construction.

Arras Minerals Corp. (TSX-V:ARK) announced in a press release the results of its soil sampling program over the Aimandai Target, located within its Elemes Project in northeastern Kazakhstan. The Elemes project is composed of several mineral licenses that are 100% owned by Arras and not included in the Teck-Arras Strategic Exploration Alliance announced on December 7, 2023.

The second unexplored copper concentration stretches for 14 kilometers and shows copper levels above 100 ppm (parts per million). Additionally, signs of a preserved porphyry system suggest a hydrothermal system that might contain copper deposits.

Arras Minerals CEO Tim Barry stated, "Our Elemes Project is starting to yield some very exciting potential. Recently we announced the "Berezski Target", an 8.8-kilometer-long copper-in-soil anomaly with historical drill holes spread over a 5-kilometer strike of this anomaly, which intercepted 132.6m @ 0.80% CuEq and 108m @ 0.94% CuEq from surface.”

Shares were trading up at $0.25 in morning trade.

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