Arras Minerals Corp. (“Arras” or “the Company”) is pleased to announce the acquisition of three additional mineral exploration licences in Pavlodar Province, Kazakhstan. The new licences held by the Company’s local subsidiary cover a total of 364 square kilometers (“sq km”) in northeastern Kazakhstan.
A total of three new mineral exploration licenses totaling 364 sq km have been granted by the Ministry of Industry and Innovational Development, Government of Kazakhstan, increasing the Company’s total land package in northeastern Kazakhstan to more than 3,300 sq km.
- The license acquisitions further strengthen the Company’s position as the largest license holder in the highly prospective Bozshakol-Chingiz metallogenic belt.
- All licenses are located within a 120 km radius of Arras' operational base in the city of Ekibastuz, Pavlodar Province, facilitating cost-effective exploration.
- Compilation, digitization, and interpretation of Soviet-era geological and geophysical datasets for the new licenses has identified multiple targets for porphyry, epithermal, volcanic-hosted massive sulfide (“VHMS”), and orogenic gold mineralization.
- Arras has established the third-largest license package prospective for copper-gold in the Republic of Kazakhstan behind Rio Tinto and Fortescue Metals Group.
Arras CEO, Tim Barry, spoke about the acquisition of the new license areas saying, "We are capitalizing on our position as an early player in the highly promising Bozshakol-Chingiz belt and have added valuable licenses to our portfolio. Last year, we completed our first field season and the results of our examination of Soviet-era data sets and recent geophysical surveys have led us to make these acquisitions. The Company continues to seek opportunities to enhance its project portfolio and we anticipate the analysis of the over 16,000 soil samples collected during the field season to be finished in the coming months. This will precede the start of our regional field program in May, where we plan to follow up on newly identified high-priority targets."