Market Herald logo


Be the first with the news that moves the market
  • Arras Minerals Corp. (ARK) has provided an updated summary of its 2022 regional exploration licenses in Kazakhstan
  • The first phase of field exploration was completed in November 2022
  • This represents the first fieldwork in a wide range of these areas done in over 30 years
  • The company also outlined its planes for 2023, which will build on the work done in 2022
  • Shares of Arras Minerals are down 16.67 per cent to C$0.43 as of 11:26 a.m. EST on Wednesday

Arras Minerals Corp. (ARK) has provided an updated summary of its 2022 regional exploration licenses in Kazakhstan.

In a press release, the company said it completed its maiden fieldwork program, which took place between May and November 2022.

“We are very pleased with our first full year of fieldwork on our regional licences. The program has significantly increased our geological understanding of our regional projects. Although assays are pending, early indications point to robust base and precious metals targets emerging at multiple prospects across our regional licences,” Tim Barry, CEO of Arras Minerals, said in a release. “Geochemical and TerraSpec SWIR/NIR spectroscopy data, expected over the coming months, will allow us to further refine targets ahead of a more focussed field program expected to commence in May this year.”

2022 highlights:

  • A total of 16,000 soil samples and 400 rock samples were collected across the regional licenses.
  • All soil samples are currently being analyzed by portable X-ray fluorescence spectrometry (“pXRF”). Selected soil samples will be or have already been sent to ALS Geochemistry (Kazakhstan and Ireland) and Intertek Genalysis (Australia) for geochemical analysis.
  • Resampling of Soviet-era exploration trenches was completed in some areas, with assays pending.
  • A KGK (top of bedrock) drilling program comprising of more than 350 holes totalling approximately 6,000 metres was completed in several locations. Assays are pending.
  • Airborne Magnetic Geophysics program totalling just over 110,000 line kilometres, was completed and will aid considerably in targeting the company’s 2023 field program initiatives

2023 plans:

Arras Minerals plans to conduct an exploration program on its regional licenses for 2023, to be built on the work done in 2022.

The program for 2023 will involve additional and infill soil grids over promising areas, follow-up ground geophysics, ground and airborne magnetic surveys, trenching and KGK scout drilling.

Arras said it plans to have this work completed by the end of summer 2023.

Shares of Arras Minerals Corp. (TSXV:ARK) are down 16.67 per cent to C$0.43 as of 11:26 a.m. EST on Wednesday.

More From The Market Herald

" Golden Independence (CSE:IGLD) to acquire Napoleon Gold Project

Golden Independence said on Friday it will acquire the Napoleon Gold Project near Kamloops, British Columbia.

" Ascend Wellness (CSE:AAWH.U) expands Michigan presence

Ascend (AAWH.U) has announced the opening of its eighth dispensary in Michigan, located in Grand Rapids.

" Irwin Naturals (CSE:IWIN) cannabis products launch nationwide in Canada

Irwin Naturals (IWIN) has released its new CBD 25mg softgels in Canada.

" Green River Gold (CSE:CCR) announces $252,000 financing

Green River Gold (CCR) will undertake a non-brokered private placement for up to $252,000.