- Arras Minerals (ARK) mobilizes a second drill rig to Elemes Project to accelerate Phase 2 exploration.
- Significant copper-gold intercepts at Berezski site, including 547 meters at 0.70% CuEq.
- Termination of the Beskauga Option Agreement reallocates $15M budget towards existing projects.
Arras Minerals Corp. (ARK) has announced the mobilization of a second drill rig to its Phase 2 exploration program at the Elemes Project, set to begin later in June 2025. This strategic move aims to expedite exploration activities across the site, enhancing both speed and efficiency in the ongoing program.
As part of its expanded exploration efforts, Arras has finalized a 1,000 line-kilometer ground magnetic survey and a 65 square-kilometer Vector IP survey over its Berezski and Aimandai targets. Previous significant intercepts at the Berezski site include 547 meters at 0.70% CuEq and 261 meters at 0.64% CuEq, underscoring the potential richness of the site.
In a strategic pivot, Arras has opted to terminate its option agreement for the Beskauga Project, choosing not to proceed with a US$15 million payment. This decision reflects a broader strategy to concentrate resources on their existing 3,300 square kilometer land package in Kazakhstan, which is viewed as offering better opportunities for value enhancement.
Additionally, the company's progress includes notable activities under the Arras-Teck Strategic Alliance, where an 80-line kilometre pole-dipole IP survey has been completed. A 5,000-meter drill program is also underway, further solidifying Arras's focus on high-priority exploration zones.
Arras remains committed to advancing its existing projects, with CEO Tim Barry expressing optimism about the company's strategic direction and the promising results from ongoing surveys and drilling initiatives.
