Arras Minerals (TSXV:ARK), one of the latest new listings on the TSX Venture Exchange, has a 4-year option to acquire 100% of the Beskauga copper-gold project in Kazakhstan, which requires the company to spend US$15M in exploration expenditures over 4 years, after which time Arras can purchase 100% of Beskauga for a US$15 million cash payment.
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Arras Minerals Corp. (TSXV:ARK) is one of the latest new listings on the TSX Venture Exchange, trading under the symbol “ARK”.
The company was formed and spun-off from Silver Bull Resources to hold Silver Bull’s interests in the Beskauga Project in Kazakhstan.
Kazakhstan is one of the most prospective countries in the world for a number of metals, ranking as a top 10 producer globally for copper, uranium, chromite, zinc, coal and iron ore.
Arras has a 4-year option to acquire 100% of the Beskauga copper-gold project in Kazakhstan, which requires the company to spend US$15M in exploration expenditures over 4 years, after which time Arras can purchase 100% of Beskauga for a US$15 million cash payment.
Minimum expenditures are US$2 million in year one, US$3 million in year two, US$5 million in year three and US$5 million in year four.
The Beskauga Project, a large copper-gold porphyry deposit project, located within the Central Asian Orogenic Belt, sits within one of the last great copper-gold porphyry belts yet to be explored with modern techniques.
It comes with excellent infrastructure including powerlines, major highways, heavy rail, and a trained workforce.
In March, the company filed a NI 43-101 Resource Estimate for Beskauga on Sedar.
The report showed 111.2 million tonnes in the Indicated category, for 333.6 kilotonnes of copper and 1.75 million ounces of gold.
In the Inferred category, the report showed 222.2 kilotonnes of copper and 1.49 million ounces of gold.
70% of the porphyry target has yet to be tested.
The Beskauga Project is in an area with numerous mines containing gold rich porphyries and VMS deposits.
Historical work from the Soviet times has identified numerous additional anomalies that have never been followed up with modern exploration techniques.
In addition to the Beskauga licence, Arras is building a significant regional mineral licence package in northeastern Kazakhstan through additional applications of over 2,500 square kilometres.
Arras has applied for seven additional exploration licences in the immediate area, with each licence covering approximately 430 square kilometres.
The shares are trading at $1.00.
For more information, please visit the company’s website at www.ArrasMinerals.com, contact Investor Relations at 604-687-5800 or by email at info@ArrasMinerals.com.
