Arras Minerals updates Elemes drill program, Kazakhstan
Arras Minerals Corp. [TSXV: ARK; OTCQB: ARRKF] provided an update on its ongoing core drilling program at the Elemes Project, Kazakhstan. The program, which began in September, remains on schedule and is expected to conclude by the end of December.
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.
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.
“We are very pleased with the progress of the core drilling program at Elemes over the past three months,” commented Tim Barry, CEO of Arras Minerals. “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.”
Arras Minerals Corp. is advancing a portfolio of copper and gold assets in northeastern Kazakhstan, including the Option Agreement on the Beskauga copper and gold project. The company has established the third-largest license package in the country prospective for copper and gold (behind Rio Tinto and Fortescue).
In December 2023, the company entered into a strategic alliance with Teck Resources Limited [TSX: TECK.B, TECK.A; NYSE: TECK] in which Teck may sole fund a US$5 million generative exploration program over a portion of the Arras Minerals license package in 2024-2025.