Arena Minerals Inc. is pleased to report that the Japan Oil Gas and Metals National Corporation ("JOGMEC") and the Arena joint venture have decided to increase the proposed budget for the Pampa Union drill program that forms part of the US$17.5 million JOGMEC joint venture.
The additional funds shall allow for a further 4,200 metres of drilling, which shall focus on following up on the discovered porphyry system in drill hole PU-RC-39 (refer to press release dated February 21, 2016).
"The JOGMEC joint venture has decided to increase the budget to permit further drilling around PU-RC-39. We have been drilling in the area for the last month to zero in on the potentially mineralized core of the porphyry system. While we have not yet received results from drilling completed over the last month, the joint venture feels the additional drilling is warranted," commented William Randall, President & CEO of Arena.
To date, a total of 17,201 metres have been drilled at Pampa Union by the joint venture, with approximately 10,965 metres forming part of the ongoing Phase 2 drill program.