Strategic investor acquires 8.3% stake in Arras Minerals from Teck
Arras Minerals Corp. [ARK-TSXV] said a new strategic mining company which it did not name has acquired 11.8 million shares of the company from Teck Resources Ltd. (TECK.B-TSX, TECK.A-TSX, TECK-NYSE), representing approximately 8.3% of the company’s issued and outstanding shares.
Arras said Teck retains no residual ownership. “Arras assisted with placing the equity position, and the new shareholder has been granted certain rights to maintain its pro rata ownership in future equity financings.’’
Arras shares were active on the news, easing 21.2% or 34 cents to $1.26. The shares trade in a 52-week range of $2.07 and 53 cents.
The announcement comes as Arras reports additional results from the Berezski North target at the Elemes Project in Kazakhstan. It said drilling continues to return broad intervals of porphyry-style copper-gold mineralization, highlighted by 568.9 metres grading 0.33% copper equivalent (CuEq) in hole EL26036 and 399.7 metres of grade 0.26% CuEq in EL26034, while expanding the footprint of near-surface tourmaline-breccia and structurally controlled mineralization.
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 (EL26034 and EL26036) support the interpretation that they may have tested the margins of a principal porphyry system, with the potential core located further to the southwest.
Commenting on the latest results, Arras CEO Tim Barry said: “The scale of these intercepts is the key takeaway from this round of drilling.’’ “These are substantial mineralized drill intervals and reinforce our view that Berezski North hosts a large porphyry system.’’
The company said exploration momentum remains strong, with 35 drill holes totalling approximately 24,000 metres completed at Elemes in 2026. It said four diamond drill rigs are operating, including two rigs dedicated to Berezski North.’’