Aranjin Resources Announces Promising Drilling Results at the Sharga Copper Project

Aranjin Resources Ltd. (TSXV: ARJN) (the "Company" or "Aranjin Resources") is very pleased to announce results from the recent drilling at the Sharga Copper Project ("Sharga" or "Project").

Highlights:

First drilling program completed with results now received for all drill holes and Phase 2 follow up drilling planned.
Highly encouraging early results from six initial drill holes with a best result of 15.4 meters at 1.33% Copper and 0.94g.t Gold.
Wide zones of VMS style (massive to semi massive sulphides) mineralization up to 100 meters in width, indicating a substantial mineralized system has been discovered at Sharga.
Mineralised zones intersected in drilling are open along strike and at depth and this is further confirmed by preliminary dipole-dipole IP geophysics that tested and confirmed that the mineralisation intersected in drilling is open and remains untested by drilling.

The Company has successfully drilled six diamond core drill holes for a total of 2,211 meters at the East Prospect with a best result of 15.4 meters at 1.33% Copper and 0.94g.t Gold. These early results successfully demonstrate the discovery of a substantial VMS style base metal system with high grade copper and gold at Sharga. This is very early and only a tiny fraction of the targets on the project have been drill tested. While this drill campaign was short it supports the Company's initial view that the Sharga Copper Project has strong potential for the discovery of high-grade copper gold deposits. The Phase 2 drilling program will cover a wider area and will include further drilling at the East Prospect and an additional five target areas that the company has been working on. This program is expected to commence early in 2022.

Better Drilling results included:

SH-2:

54.1 meters at 0.27% Copper and 0.35g/t Gold, including 7.7 meters at 1.04g/t Gold and 2.9% Zinc

SH-3:

9 meters at 0.64% Copper and 0.31g/t Gold including 1.9 meters at 2.25% Copper
5.15 meters at 1.73% Copper and 0.98g/t Gold including 1 meters at 4.51% Copper and 2.33g/t Gold and 100 g/t Silver

SH-5:

37.9 meters at 0.27% Copper and 0.50 g/t Gold

SH-6:

15.3 meters at 0.13% Copper and 1.05g/t Gold
15.4 meters at 1.33% Copper and 0.94g.t Gold, including 9 meters of 2.11% Copper and 1.02g/t Gold
16 meters at 0.52% Copper and 0.86 g/t Gold

Figure 1

To view an enhanced version of Figure 1, please visit:
https://orders.newsfilecorp.com/files/4933/107512_cda5f663b407e9ba_001full.jpg

Figure 2

To view an enhanced version of Figure 2, please visit:
https://orders.newsfilecorp.com/files/4933/107512_cda5f663b407e9ba_002full.jpg

Summary of the Drill Results:

A total of five prospects were identified as a consequence of the ASTER satellite image processing and geological mapping, in the license named North, Aguit, Khar Zurai, West, and East. Strongly silicified, reddish-brown limonite-hematite rich alteration zones "gossans" were mapped at all the prospects in variable sizes and are associated with schistose textured acidic volcanic rocks as well as elevated base metals and gold.

Figure 3

To view an enhanced version of Figure 3, please visit:
https://orders.newsfilecorp.com/files/4933/107512_cda5f663b407e9ba_003full.jpg

A total of six diamond drillholes with a total of 2,211 meters were completed at the East prospect. Over 100 meter thick, pyrite dominated, massive sulfide layers were intersected in the holes demonstrating a substantial mineralized VMS system. The best intercept was achieved in the last hole drilled and included 15.4m at 1.33% Copper and 0.94g/t Gold from 315.6m in drillhole SH-6 and included 9m at 2.11% Copper and 1.02g/t Gold from 322m.

The company has completed preliminary dipole-dipole IP test survey across the East and North Prospects and confirmed that the mineralization intersected in drilling is open along the strike and at depth. Additional IP and ground magnetic geophysics and soil and rock chip geochemistry will be undertaken in the coming months.

Figure 4

To view an enhanced version of Figure 4, please visit:
https://orders.newsfilecorp.com/files/4933/107512_cda5f663b407e9ba_004full.jpg

Significant intercepts were shown in below table.

ID	Drill Hole	Depth, m		From (m)	To (m)	Core Length (m)	Cu (%)	Au (g/t)	Ag (g/t)	Pb (%)	Zn (%)
1	SH-1	200		169	170	1	0.01	0.56	0.84	0.009	0.05
2	SH-2	383.00		151	152	1.00	0.75	0.07	2.49	0.002	0.012
				152	153	1.00	0.016	0.41	2.49	0.007	0.005
				153	155.8	2.80	0.28	0.13	1.27	0.003	0.026
				211.55	213	1.45	0.11	0.11	0.80	0.001	0.043
				248.45	250.2	1.75	0.32	0.21	1.27	0.017	0.049
				251	252	1.00	0.17	0.03	1.11	0.003	0.028
				273	327.15	54.15	0.27	0.35	4.00	0.010	0.500
			Including	282	289.7	7.70	0.19	1.04	13.66	0.054	2.90
			Including	307	309	2.00	0.91	0.67	2.53	0.007	0.047
				351.7	357.3	5.60	0.37	0.45	9.10	0.066	0.360
3	SH-3	338.00		152	161	9.00	0.64	0.31	8.00	0.010	0.10
			Including	152.9	154.8	1.90	2.25	0.56	19.50	0.030	0.078
				162	163	1.00	0.17	0.23	4.59	0.008	0.12
				164	165	1.00	0.36	0.03	12.20	0.005	0.085
				212.85	218	5.15	1.73	0.98	30.80	0.104	1.73
			Including	212.85	213.85	1.00	4.51	2.33	>100	0.34	0.73
				266.95	270.9	3.95	0.36	0.12	0.98	0.002	0.31
4	SH-4	434.00		238	240	2.00	0.01	0.77	0.41	0.003	0.01
				266	269	3.00	0.70	0.29	1.43	0.007	0.02
				271.6	272.8	1.20	0.04	0.31	1.56	0.01	0.03
				286	287	1.00	0.024	0.32	3.27	0.004	0.04
				288	289	1.00	0.033	0.3	1.97	0.009	0.04
				289	290	1.00	0.200	0.26	1.65	0.01	0.05
				296.5	297.5	1.00	0.38	0.03	0.67	0.001	0.03
				300.95	301.9	0.95	0.48	0.14	2.15	0.01	0.10
				314.7	315.7	1.00	0.14	0.09	5.19	0.06	0.90
				330.3	331.3	1.00	0.02	0.38	3.42	0.05	0.20
				366	367	1.00	0.15	0.02	0.36	0.001	0.009
				368	371	3.00	0.60	0.02	1.46	0.000	0.02
			Including	369	370	1.00	1.44	0.05	3.10	0.001	0.03
				375	376	1.00	0.23		0.84	0.001	0.04
				379	380	1.00	0.19		0.76	0.001	0.02
				391	392	1.00	0.21	0.03	1.14	0.001	0.05
				407.7	409	1.30	0.15	0.39	15	0.06	0.71
5	SH-5	383.00		233	235	2.00	0.29	0.18	1.45	0.01	0.22
				245.45	283.35	37.90	0.26	0.50	7.96	0.02	1.40
			Including	245.45	246.5	1.05	1.05	0.2	5.07	0.01	0.21
			Including	257.5	258.5	1.00	0.20	2.91	2.35	0.002	6.12
			Including	267	268	1.00	0.30	1.02	22.3	0.005	0.16
				286.75	288	1.25	0.21	0.55	6.73	0.01	3.36
				291	292	1.00	0.03	1.29	2.68	0.01	0.46
				315.6	317	1.40	0.15	0.3	2.84	0.02	0.24
				330.2	331.3	1.10	0.20	0.24	3.82	0.008	0.11
				354.4	356.85	2.45	0.20	0.6	3.52	0.01	0.10
				357.95	359	1.05	0.11	0.09	1.48	0.006	0.09
				367.8	369	1.20	0.11	0.12	1.88	0.006	0.12
6	SH-6	473.00		223	224	1.00	0.12	0.08	1.89	0.002	0.042
				227.2	228	0.80	0.17	0.14	0.8	0.005	0.014
				232	235	3.00	0.45	0.16	0.74	0.001	0.01
				240	241	1.00	1.41	0.3	1.25	0.001	0.012
				283.6	284.6	1.00	0.40	0.06	0.87	0.001	0.006
				289.6	294.5	4.90	0.24	0.09	0.75	0.002	0.013
				294.5	309.83	15.33	0.13	1.05	4.88	0.02	0.16
			Including	294.5	295.2	0.70	1.34	0.93	4.11	0.008	0.027
				311.7	313.4	1.70	0.10	0.96	4.06	0.034	0.28
				315.6	331	15.40	1.33	0.94	4.96	0.02	0.23
			Including	322	331	9.00	2.11	1.02	4.81	0.02	0.30
				332	333	1.00	0.19	0.05	0.56	0.001	0.02
				338	339	1.00	0.09	0.39	0.74	0.006	0.10
				345	346	1.00	0.18	0.02	1.17	0.001	0.11
				350	352	2.00	0.31	0.03	1.3	0.005	0.02
				355	358	3.00	0.13	0.01	0.6	0	0.02
				360	361	1.00	0.23	0.02	0.71	0	0.02
				363	370.5	7.50	0.48	0.04	0.21	0	0.03
			Including	368.5	369.5	1.00	1.42	0.07	1.07	0	0.11
				372.8	374	1.20	0.21	0.02	0.53	0.001	0.01
				377	383	6.00	0.55	0.13	0.86	0.000	0.01
				385	401	16.00	0.52	0.86	5.59	0.008	0.91
			Including	388	388.75	0.75	1.85	2.36	6.7	0.002	2.48
			Including	398	399	1.00	1.15	0.52	4.69	0.007	0.03
				419	423	4.00	0.18	0.07	0.67	0.001	0.01
				424	425	1.00	0.12	0.04	0.38	0.001	0.008

Mineralized intervals are greater than 0.10 % Cu.
Higher grade sub-intervals are greater than 1.0 % Cu.
Mineralized intervals are greater than 0.30 g/t Au.

Mr. Wood, Executive Chairman of Aranjin Resources stated, "We are extremely pleased to announce the maiden drill results at the Sharga Copper Project. This drilling program and the recently completed geophysics, successfully demonstrates that the Company has discovered a substantial VMS mineralised system. We look forward to aggressively expanding our exploration efforts across our five target areas on Sharga in early 2022."

On behalf of the Board
Matthew Wood
Executive Chairman
Aranjin Resources Ltd.
+976 7732 1914

NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/107512

News Provided by Newsfile via QuoteMedia

copper investing tsxv:arjn Copper Investing

ARJN:CA

Steppe Gold Announces Filing of Early Warning Report

Steppe Gold Ltd. (TSX: STGO) (OTCQX: STPGF) (FSE: 2J9) ("Steppe") announces that on September 27, 2023, Aranjin Resources Ltd. ("Aranjin"), with a head office address of Suite 202, 2438 Marine Drive, West Vancouver, British Columbia, V7V 1L1,converted the $1,814,400 principal amount of the outstanding convertible debenture held by Steppe to common shares of Aranjin ("Common Shares") at a price of $0.055 per Common Share, resulting in the issuance of 32,989,090 Common Shares to Steppe (the "Debenture Conversion"). Further, Steppe announces that it has entered into an agreement with Aranjin whereby Aranjin converted accrued interest of $543,574 on the outstanding debentures at a price of $0.055 per Common Share, resulting in the issuance of an additional 9,883,163 Common Shares to Steppe (the "Interest Conversion" and, together with the Debenture Conversion, the "Conversions").

News Provided by Newsfile via QuoteMedia

Keep reading...Show less

Aranjin Announces Completion of Debt Settlement and Conversion of Debenture Interest

Aranjin Resources Ltd. (TSXV: ARJN) (the "Company" or "Aranjin") is pleased to announce that further to its press release dated August 16, 2023, it has completed the previously announced debt settlement and conversion of accrued interest on convertible debentures ("Debentures") held by Steppe Gold Ltd. ("Steppe") into common shares ("Shares") of the Company.

The Company has issued 9,883,163 Shares at a deemed price of $0.055 per Share to Steppe, representing accrued interest of $543,574 on the Debentures issued to Steppe on August 10, 2021. After conversion of the principal amount of the Debentures and issuance of Shares representing accrued interest, Steppe now holds 42,872,254 Shares of the Company, representing approximately 11.06% of the Company's issued and outstanding Shares.

News Provided by Newsfile via QuoteMedia

Keep reading...Show less

Aranjin Resources Announces Corporate Update: Exploration Update, Debenture Conversions, Debt Settlement and Board Changes

Aranjin Resources Ltd. (TSXV: ARJN) (the "Company" or "Aranjin") is pleased to provide an update on recent and upcoming developments at the Company.

With the successful completion of the upsized recent private placement, the Company is pleased to announce the conversion of outstanding debentures and settlement of outstanding debt to simplify the balance sheet. This will reduce the debt burden and allow investment capital to be directed to our exciting exploration projects.

News Provided by Newsfile via QuoteMedia

Keep reading...Show less

Aranjin Resources Completes Private Placement

Aranjin Resources Ltd. (TSXV: ARJN) (the "Company" or "Aranjin") announces that it has completed its previously announced non-brokered private placement of 53,782,668 units of the Company ("Units") at a price of $0.02 per Unit, for aggregate gross proceeds of approximately $1,075,653 (the "Offering"). Each Unit consists of one common share of the Company (a "Share") and one common share purchase warrant (a "Warrant").

Each Warrant will be exercisable for one Share at a price of $0.05 per Share for a period of 24 months from the closing of the Offering, provided that in the event that the daily volume weighted average closing price of the Shares on the TSX Venture Exchange (the "TSXV") or a recognized Canadian stock exchange equals or exceeds $0.10 for a period of 20 consecutive trading days, the Company may accelerate the expiry date of the Warrants by issuing a press release announcing the reduced Warrant term and in such case, the Warrants will expire on the 30th calendar day after the date such press release is issued.

News Provided by Newsfile via QuoteMedia

Keep reading...Show less

Rows of fine copper bars with text that reads '5 Top Canadian Mining Stocks This Week.'

Top 5 Canadian Mining Stocks This Week: Euro Sun Gains 54 Percent as Copper Hits New High

Welcome to the Investing News Network's weekly look at the best-performing Canadian mining stocks on the TSX, TSXV and CSE, starting with a round-up of Canadian and US news impacting the resource sector.

The US Bureau of Economic Analysis released February personal consumption expenditures (PCE) index data on Friday (March 28). The figures show inflation increased 2.5 percent on an annualized basis in February, aligning with analyst expectations and reflecting no change from the 2.5 percent recorded in January. On a monthly basis, inflation rose by 0.3 percent, also matching January’s increase.

However, core PCE, which excludes the volatile food and energy prices, increased 2.8 percent year-over-year and 0.4 percent month-over-month. Both came in above analyst expectations of 2.7 and 0.3 percent, respectively.

Keep reading...Show less

Copper Prices Surpass US$10,000 as US Tariff Fears Shake Global Markets

Copper prices surged past US$10,000 per metric ton on Thursday (March 20), hitting a five month high as traders scrambled to secure supply ahead of potential US tariffs on the base metal.

London Metal Exchange (LME) copper futures climbed sharply in early trading, reflecting a combination of supply constraints, rising demand and uncertainty surrounding trade policy.

US President Donald Trump has ordered a probe into the national security implications of copper imports, raising concerns that a 25 percent tariff could be imposed, similar to levies already placed on aluminum and steel.

Keep reading...Show less

Hillgrove Accelerates Nugent Copper Deposit Development, Raises AU$16 Million

Hillgrove Resources (ASX:HGO,OTC Pink:HLGVF) said on Monday (March 17) that it is accelerating development of the Nugent deposit at its Kanmantoo copper mine after raising AU$16 million.

The company secured AU$13 million through a placement to institutional and sophisticated investors, and raised AU$3 million via a share purchase plan that was open to existing shareholders.

"Following the success of the recent excellent Nugent drilling results, our technical team have identified a path to accelerate the Nugent production profile,” said CEO and Managing Director Bob Fulker in a March 5 release.

Keep reading...Show less

Kiribati Explores Deep-Sea Mining Deal with China Amid Global Regulatory Talks

Kiribati is reportedly in discussions with China to explore deep-sea mining opportunities, signaling a potential shift in its approach to tapping into its vast offshore mineral resources.

The Pacific island nation holds the exploration rights to a 75,000 square kilometer area in the Pacific Ocean, a region believed to contain valuable deposits of cobalt, nickel, and copper — key materials for the global battery industry.

The talks between Kiribati and Chinese officials come after the collapse of a previous agreement with the Metals Company (TMC) (NASDAQ:TMC), a Canada-based deep-sea mining outfit.

Keep reading...Show less

Aranjin Resources Announces Promising Drilling Results at the Sharga Copper Project

Overview

Company Highlights

In this article

Next US copper mine: Copper mines under construction

Next US copper mine: Mines being restarted

Next US copper mine: Copper mines in the permitting stage

Markets and commodities react

Top Canadian mining stocks this week

1. Euro Sun Mining (TSX:ESM)

2. Rackla Metals (TSXV:RAK)

3. Tidewater Renewables (TSX:LCFS)

4. Titan Mining (TSX:TI)

5. Supernova Metals (CSE:SUPR)

FAQs for Canadian mining stocks

What is the difference between the TSX and TSXV?

How many companies are listed on the TSXV?

How much does it cost to list on the TSXV?

How do you trade on the TSXV?

Tariff threat complicating copper trade

Rising copper prices boost China's Zijin

Market waits for copper probe results

Copper attracting attention in Australia

Global regulatory talks underway on deep-sea mining

Latest News

Latest Press Releases

Related News

TOP STOCKS