Aras Minerals (TSXV: ARK) It said it is doubling its drilling program in Kazakhstan – to 40,000 meters – to be completed by the end of 2026. The news comes on the heels of the company concluding a major $25 million offtake deal earlier this week.
Darren Klink, president of Aras, said investor demand has strengthened confidence in the company’s strategy. “This strong financial position will allow us to maintain the momentum from the excellent progress we have made over the past six months by commissioning four drilling rigs,” he said in a press release.
According to Aras, more than 30,000 meters have been drilled in the Berezsky direction at its Elemis project in the northeastern part of the country. Tim Barry, CEO of Arras, said the expanded program will continue to mine active initiatives, with new targets being tested along the way. “We are working to improve our understanding of the geology and structure across the approximately 10-kilometre strike zone while identifying at least three porphyry centres,” he added.
Aras drilled 27 holes totaling more than 18,000 meters at Elemis this year. The project covers 531 km2 Inside the Bozshakol-Chingiz mineral belt. Soil samples have identified two major trends – Berezsky and Aymanday – which are now the focus of expanded Arras exploratory efforts.
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