10:26 AM EDT, 10/08/2025 (MT Newswires) -- Arras Minerals ( ARRKF ) shares rose 13% Wednesday after it said that hole EL25019 from the Berezski East Target at the Elemes Project, delivered wide zones of high-grade gold-copper mineralization starting at surface.

To further advance the Berezski East target, the company has undertaken detailed Magnetotellurics (MT) and gravity surveys and will start a high-density top-of-bedrock drill program in the coming weeks. Preliminary results from the gravity survey have been partially received and the results from the MT survey are expected in November.

"Drillhole EL25019 has delivered an exceptional high-grade gold-copper intercept from surface, confirming Berezski East's strong potential to host broad zones of high-grade mineralization," said Arras Minerals ( ARRKF ) chief executive Tim Barry. "When we look at the area between Berezski Central and Berezski East, we continue to see the potential for continuity and scale."

The company said due to the discovery of porphyry-style mineralization in hole NOV25003 at the Novii target, the gravity and MT surveys have been expanded by an additional 102 stations to cover this new target area. The field work for this survey will continue to the end of October.

Drilling at Elemes is scheduled to continue through to the end of the year and continue into 2026.

Shares of the company were last seen up $0.1 at $0.85 on the TSX Venture Exchange.

Price: 0.85, Change: +0.10, Percent Change: +13.33