Arras Minerals up 38% on Kazakhstan porphyry drilling news
Arras Minerals Corp. [ARK-TSXV] shares rallied strongly Tuesday after the company reported impressive drill results from the Berezski North Target on the Elemes Project in northeastern Kazakhstan.
The latest results include 935.9 metres of grade 0.71% copper equivalent (CuEq) (0.51 g/t gold and 19% copper) from surface, including 214.9 metres of grade 1.42% CuEq (1.01 g/t gold and 0.41% copper) starting at 162.1 metres depth in hole EL26032.
A second drill hole (EL26033) returned 52 metres of grade 1.75% CuEq (1.14 g/t gold and 0.64% copper) from 259.0 metres, within a zone grading 181.0 metres at 0.66% CuEq (0.43 g/t gold and 0.24% copper from 170 metres depth.
Arras shares advanced on the news, rising 38% or 32 cents to $1.16 after trading in a 52-week range of $1.07 and 53 cents.
The Elemes Project consists of two exploration licences covering 531 square kilometres in northeastern Kazakhstan, located approximately 13 kilometres south of Ekibastuz and just 20 kilometres from Arras’s operational base. The company has said the project benefits from exceptional infrastructure, with paved highway crossing the licence, and access to 1100 KVA power lines, heavy rail, and other utilities within a 15 kilometre radius.
Property-wide soil sampling programs defined two extensive copper molybdenum geochemical anomalies: the Berezski and Aimandai Trends, both considered priority targets for follow-up exploration drilling. A Phase 1.0 drill program on the Berezski Trend in late 2024 returned high-grade porphyry/epithermal copper and gold mineralization in results announce in the first quarter of 2025. A 20,000-metre Phase 2.0 program commenced in May 2025 and was expanded to 30,000 metres in January 2026. Phase 2.0 is expected to be completed by the end of this year.
Berezski North consists of two interrelated mineralized zones, a near-surface, high-grade breccia zone, underlain by a large porphyry system. The drill holes reported Tuesday were designed to explore the shallow breccias and determine the extent of the underlying porphyry mineralization discovered in drill hole EL24005 and expanded by hole EL25027. To date, eight holes have been completed at the Berezski North target since drilling recommenced in the first quarter of 2026, and the results from EL26032 and EL26033 confirm the presence of a preserved, large-well developed porphyry system that is open in multiple directions and to depths that exceed 900 metres. In addition, these holes have extended the strike length of the high-grade breccias to be in excess of 600 metres.
“These latest results from Berezski North represent a step-change for the company,’’ said Arras Minerals CEO Tim Barry. “Intersecting more than 900 metres of porphyry-style mineralization from surface is a very significant result that has materially advanced our understanding of the scale and potential of this target,’’ he said. “Importantly, the system remains open in multiple directions and at depth.’’ An additional six holes have been drilled with assays pending.