MINEX Forum

Tag: Gold Exploration

  • Arras Minerals to Launch Copper and Gold Drilling in Kazakhstan by 2025

    Arras Minerals to Launch Copper and Gold Drilling in Kazakhstan by 2025

    Arras Minerals, a Canadian mining company, has announced plans to commence active drilling for copper and golddeposits in Kazakhstan’s Pavlodar region in the first half of 2025. This decision follows an extensive geological exploration campaign conducted in 2024, covering a 1,700-square-kilometer area near its Beskauga, Elemes, and Tay projects close to Ekibastuz.

    During its exploration efforts, the company drilled 435 holes and collected 35,000 soil samples, identifying promising sites for further drilling. The first phase of drilling will target high-priority copper deposits under shallow cover, previously unexplored. Tim Barry, CEO of Arras Minerals, expressed excitement about the progress, stating: “We anticipate commencing drill-testing of several high-priority copper targets, currently undrilled and under shallow cover, in the first half of 2025.”

    The exploration focuses on two main sites: a 1,300-square-kilometer area located 56 kilometers northwest of Ekibastuz near the Bozshakol mine, owned by Kaz Minerals, and another site 90 kilometers southeast of Ekibastuz, which includes the Akkuduk and Norgubek projects. Both areas are believed to hold substantial copper and gold reserves.

    Arras Minerals is positioned as a major player in Kazakhstan, holding the third-largest license package for copper and gold exploration, behind only Rio Tinto and Fortescue. In December 2023, the company secured a partnership with Teck Resources Limited (TRL), under which Teck will invest $5 million in geological exploration between 2024 and 2025. Teck Resources also holds a 10% stake in the Beskauga project.

    In a September 2024 interview, Darren Klinck, President of Arras Minerals, praised Kazakhstan’s mining industry reforms, highlighting the nation’s adoption of practices from regions like Western Australia and Canada. Klinck described Kazakhstan as one of the most business-friendly mining jurisdictions, noting the country’s significant progress in attracting international investment.

    With these advancements, Arras Minerals is well-positioned to contribute to and benefit from Kazakhstan’s growing mining sector, which continues to attract global attention.

  • ACG-Asia Capital Group Plans Gold Exploration Project in Kazakhstan’s Katon-Karagay District

    ACG-Asia Capital Group Plans Gold Exploration Project in Kazakhstan’s Katon-Karagay District

    TOO “ACG-Asia Capital Group” is gearing up to conduct exploration and assessment work for alluvial gold in the Mayemer area of the Katon-Karagay district in the East Kazakhstan Region. The project documentation from the license holder has been made available for public review on Kazakhstan’s Unified Environmental Portal.

    The commencement of geological exploration is scheduled for May 2024, with completion expected by the autumn of 2026. Specialists aim to evaluate the reserves of the promising area according to categories C1 and C2 and include them in the state balance sheet based on the results of the exploration.

    The licensed area covers 4.54 square kilometers. While targeted exploration for alluvial gold has not previously been conducted within Mayemer, the company notes that based on tailings sampling and general geological indicators, the territory holds promise for identifying deposits. Preliminary estimates suggest prospective resources of 68 kilograms of precious metal under category P2.

    The plan includes conducting mining operations, tailings sampling, collecting large-volume samples, and estimating reserves. A total of 950 samples are set to be collected from all excavations (mining and routes) in the Mayemer area.

  • Rupert Resources Offers to Acquire B2Gold’s Stake in Finnish Gold Exploration

    Rupert Resources Offers to Acquire B2Gold’s Stake in Finnish Gold Exploration

    Aurion Resources (TSXV: AU) received notification from its joint venture partner, B2Gold (TSX: BTO), regarding an acquisition offer for B2Gold’s 70% interest in their gold exploration JV focused on the Central Lapland greenstone belt in northern Finland. The offer, extended by Rupert Resources (TSX: RUP), aligns with Rupert’s exploration efforts in the same region, particularly centered around its Rupert Lapland project, home to the significant Ikkari discovery. This proposition entails issuing roughly 28.6 million shares to B2Gold, valuing the transaction at approximately C$102.8 million ($76 million) based on Rupert’s share price as of March 8, 2024. Rupert’s stock, however, observed a 1.1% decline to C$3.55 by midday Monday, despite confirming preliminary discussions with B2Gold. The potential acquisition would expand Rupert’s exploration targets, encompassing 293 sq. km. of the Sirkka shear zone, including the Helmi discovery and the Kutuvuoma prospect. With a right of first refusal per a 2019 shareholders agreement, Aurion has until May 9, 2024, to decide on its course of action regarding the proposed sale by B2Gold. The transaction remains contingent upon final agreements, due diligence completion, and regulatory green lights. Simultaneously, Aurion’s stock experienced a notable surge of 11.5% to C$0.58 per share on Monday, elevating the company’s market capitalization to C$76.8 million ($57 million).