Arras Minerals (TSXV: ARK) said it is doubling its drilling program in Kazakhstan — to 40,000 metres — to be completed by the end of 2026. The news follows the company closing an upsized $25-million bought deal earlier this week.
Darren Klinck, the president of Arras, said the investor demand reinforced confidence in the company’s strategy. “This strong financial position will allow us to maintain momentum with the excellent progress we have made over the past six months with four drill rigs operating,” he said in a news release.
According to Arras, more than 30,000 metres have been drilled on the Berezski Trend on its Elemes project in the northeastern part of the country. Tim Barry, the CEO of Arras, said the expanded program will continue drilling on active initiatives, while also testing new targets throughout the trend. “We are improving our understanding of the geology and structure across the approximately 10-kilometre strike with at least three porphyry centres identified,” he added.
Arras has drilled 27 holes totalling more than 18,000 metres at Elemes this year. The project covers 531 km2 within the Bozshakol‑Chingiz metallogenic belt. Soil sampling has outlined two large trends — Berezski and Aimandai — which are now the focus of Arras’ expanded exploration push.
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