AN Arena Minerals Inc

Arena Minerals Inc. ("Arena" or the "Company") (TSX VENTURE:AN) has received
additional results of its initial regional exploration program on the 2,930
square kilometer Atacama Copper Property ("ACP" or "Property"), located in the
Antofagasta region of Chile. In addition to the previously announced copper
porphyry prospects discovered (La Paloma, Cerro Barco, & Cerrillos) Arena has
discovered an epithermal gold prospect and a silica cap with base and precious
metal anomalies. The newly discovered Pampa Paciencia prospect is located
approximately ten kilometers north and north-east of the Sierra Gorda and Spence
mines respectively. Pampa Paciencia is also located approximately five
kilometers north of the operating Faride gold mine. 


Two distinct mineralized areas, approximately two kilometers apart, have been
discovered within altered diorite and grandiorite intrusive rocks. The
mineralization consists of outcropping silica caps, quartz veins and
sub-cropping angular quartz fields that align with east-west to west northwest
lineaments. Moderate to strong argillic and iron oxide alteration of the
intrusives also appear to be related to the mineralization. The quartz vein
material exhibit well developed crustiform-colloform textures and are associated
with gold, silver and base metals anomalies. Arsenic and antimony anomalies are
also associated with some of the anomalous gold bearing structures, as is the
presence of amethyst. 


The epithermal quartz field consists of a 250 to 300 metre long area of quartz
float concentrated along a west north-west axis immediately south of a large
granodiorite outcrop. The area is characterized by a heavy concentration (more
than 50%) of mineralized epithermal quartz vein material parallel to major
structural features known to host gold deposits in the area. Several quartz chip
samples taken from this area returned anomalous gold values up to 6.83 g/t Au. A
total of seventeen other samples from this zone returned anomalous values
ranging from 0.5 g/t to 3.84 g/t Au.


The second area of interest lies two kilometres southwest of the epithermal
quartz field and consists of a silica cap with associated quartz-amethyst veins
aligned with a west-northwest lineament cross-cutting an altered dioritic body.
Anomalous gold values from chip sampling range from 0.3 g/t to 2.08 g/t and are
associated with anomalous base metals values in Cu (up to 0.13%), Pb (up to
0.42%), Zn (up to 0.16%) and Ag (up to 154 gpt). The silica caps cover a large
area coincident with prominent magnetic and alteration anomalies, making them a
suitable target for buried copper porphyry deposits. 


Further ground exploration is planned for both the target areas within the Pampa
Paciencia prospect.


A map of the Atacama Copper Project showing the location of the Pampa Paciencia
prospect can be accessed here.


Images of the Pampa Paciencia prospect can be accessed here. 

Vernon Arseneau, Vice-President of Exploration of Arena, commented "We continue
to add prospective target areas to our growing portfolio of prospects within the
Atacama Copper Project. We intend to continue with our current program, which is
proving to be cost efficient and effective." 


The Company intends to continue working on Pampa Paciencia in conjunction with
initial exploration of the remaining targets identified on the Atacama Copper
Property that have not been worked to date. At present just over 30% of the land
has been covered in the initial exploration program.


To view the website, please visit www.arenaminerals.com. 

The technical and scientific aspects of this news release have been reviewed and
approved by Mr. Vernon Arseneau, P.Geo, who has been designated as a qualified
person pursuant to NI 43-101. As the Vice President of Exploration of the
Company, Mr. Arseneau is not considered independent.


In addition to featuring information regarding the Company, its managements and
projects, the website also contains the latest corporate news and an email
registration allowing subscribers to receive news and updates directly.


About Arena Minerals

Currently Arena Minerals has three properties under option covering
approximately 326,000 hectares. All the properties are within the Antofagasta
region of Chile, at low altitudes and within producing mining camps. The Company
flagship asset is the Atacama Copper Property, consisting of 293,000 hectares of
essentially undrilled ground in the heart of Chile's premier copper mining
district. The Atacama Copper Property is adjacent to the Capricornio Property,
forming part of a contiguous land package that can be worked in conjunction. In
addition the Company also has the Pampas El Penon project which is less than 1
km from Yamana's Agusta Victoria project and 10 km from the El Penon mine. The
Capricornio property hosts a district scale gold silver epithermal system
virtually unexplored at depth and open on strike. The Pampas El Penon and
Capricornio properties comprise Arena Minerals highly prospective gold
properties within an active mining region. 


On behalf of the Board of Directors of Arena Minerals Inc. 

William Randall, President, and CEO

Cautionary Note Regarding Accuracy and Forward-Looking Information:

This news release may contain forward-looking information within the meaning of
applicable Canadian securities legislation. Forward-looking information
includes, but is not limited to, statements, projections and estimates relating
to the future development of any of the Company's properties, the results of the
exploration program, future financial or operating performance of the Company,
its subsidiaries and its projects, the development of and the anticipated timing
with respect to the Atacama project, the Capricornio project, and the El Penon
project, and the Company's ability to obtain financing. Generally,
forward-looking information can be identified by the use of forward-looking
terminology such as "plans", "expects" or "does not expect", "is expected",
"budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or
"does not anticipate", or "believes", or variations of such words and phrases or
state that certain actions, events or results "may", "could", "would", "might"
or "will be taken", "occur" or "be achieved". The statements made herein are
based on current expectations and assumptions that are subject to risks and
uncertainties. Actual results could differ materially because of factors
discussed in the management discussion and analysis section of the Company's
interim and most recent annual financial statement or other reports and filings
with the TSX Venture Exchange and applicable Canadian securities regulations.
Estimates underlying the results set out in this news release arise from work
conducted by the previous owners and the Company. Forward-looking information is
subject to known and unknown risks, uncertainties and other factors that may
cause the actual results, level of activity, performance or achievements of the
Company to be materially different from those expressed or implied by such
forward-looking information, including but not limited to: general business,
economic, competitive, geopolitical and social uncertainties; the actual results
of current exploration activities; other risks of the mining industry and the
risks described in the annual information form of the Company. Although the
Company has attempted to identify important factors that could cause actual
results to differ materially from those contained in forward-looking
information, there may be other factors that cause results not to be as
anticipated, estimated or intended. There can be no assurance that such
information will prove to be accurate, as actual results and future events could
differ materially from those anticipated in such statements. Accordingly,
readers should not place undue reliance on forward looking informationArena
Minerals does not undertake to update any forward-looking information, except in
accordance with applicable securities laws.


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.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Arena Minerals Inc.
William Randall
(416) 309-2697
www.arenaminerals.com

Arena Minerals (TSXV:AN)
Historical Stock Chart
From Mar 2024 to Apr 2024

Arena Minerals (TSXV:AN)
Historical Stock Chart
From Apr 2023 to Apr 2024