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The Allure of Drilling: Why Earth’s Natural Resources Are So Precious

Palm Beach, FL – April 20, 2022 – News Commentary – Drilling may sound dull, but for geologists and interested parties it’s the ultimate treasure hunt. Cracking open the earth’s crust, holds the same excitement as unwrapping a gift. It’s the magical promise of the unknown and the potential to gain from the secrets held within. Today’s article discusses this issue with reference to Barrick Gold Corp (NYSE: GOLD) (TSX: ABX) and Valaris (NYSE: VAL).


Whether it’s oil, gold, diamonds or lithium brine, the earth’s natural treasures hold the key to human progress. For those involved, drilling can signify a future fortune or a challenging time ahead. And success depends on a mixture of strategy and luck.


The Russian war means the West needs to secure more oil and gas reserves leading drilling to become a priority.


Just take a look at Valaris – the world’s largest offshore drilling contractor. The company recently raised its profitability expectations for this financial year as it secures new contracts.


Global uncertainty is also spurring interest in gold and other precious metal commodities. Barrick Gold Corp (NYSE: GOLD) is a leader in this space operating six Tier One mines and rapidly expanding its high quality reserves.


And that’s not all. The global shift to electrification is also spurring rapidly rising demand for rare earth minerals and commodities.


Arena Minerals (OTCQB: AMRZF) (TSX.V: AN) has developed a proprietary brine processing technology and de-risked business model, designed to produce more competitive battery-grade lithium products.


Its recent drill results have delighted the leadership team and make welcome news to shareholders. The company recently completed drilling of its first diamond drill hole at the Sal de la Puna project in Argentina, with CEO Will Randall stating that the results “exceeded expectations”.


The results have shown that high grade lithium values and favorable geochemistry appear to exist on Arena’s site. Specifically, the drill intersected a continuous brine column from 140 metres to the total drilled depth of 646 metres. The entire sampled brine column averaged 496 milligrams per litre (“mg/l”) lithium (“Li”).


As well as this, an uninterrupted gravel aquifer was intersected between 334 metres and 634 metres down hole, representing the thickest gravel sequence drilled in the basin. The gravel aquifer averaged 503 mg/l Li with grades as high as 557 mg/l Li at 550 metres below surface.


Arena’s Executive Chairman, Eduardo Morales – who is something of a legend in this field, with more than 40 years’ experience – echoed Randall’s positivity.


“In addition to excellent lithium grades, we are very pleased with the brine geochemistry. The magnesium and sulphate ratios are within those currently used in our pilot facilities giving us great confidence that our objective of producing technical grade lithium chloride (6% Li) is achievable from the drilled aquifers.”


Such has been the success of this venture, that Arena Minerals have also announced that two additional drilling rigs have been mobilized. One of these will be heading straight to the site of this latest successful project, where it will look to test the productive capabilities of the gravel aquifier intersected by the initial drill.


From this example, it is easy to see the satisfaction that comes from a successful drill. Success resonates through the company, making all the hard work truly worthwhile.


Just look at Valaris. The company sports a strong balance sheet and is the result of two leading offshore drillers combining their decades of experience to create an effective, high performing offshore drilling service. Today, their place as one of the premier offshore drilling companies is unmistakable.


The company recently announced a host of new contracts or contract extensions that totalled $181 million. Not only did they secure a two-year extension with BP in the Gulf of Mexico, but also a one drill extension with TotalEnergies off the coast of Brazil. This is combined with a brand-new three-year deal recently signed with Saudi Aramco


Barrick Gold is a clear leader in the gold mining space. It The company engages deep geological understanding, engineering and commercial scoping to ensure the production outlook for each mine is significant. Therefore, the drill teams work with optimism and tangible excitement. The thrill of striking new finds makes the effort worthwhile as it can extend job security, while improving company margins and shareholder commitment.


For instance, two Tanzanian gold mines Barrick took over in 2019 were at the point of death. But Barrick’s management delivered more than 500k ounces from these mines last year bringing them close to Tier One Status in the company’s portfolio.


DISCLAIMER:  FN Media Group LLC (FNM), which owns and operates and, is a third party publisher and news dissemination service provider, which disseminates electronic information through multiple online media channels.  FNM is NOT affiliated in any manner with any company mentioned herein.  FNM and its affiliated companies are a news dissemination solutions provider and are NOT a registered broker/dealer/analyst/adviser, holds no investment licenses and may NOT sell, offer to sell or offer to buy any security.  FNM’s market updates, news alerts and corporate profiles are NOT a solicitation or recommendation to buy, sell or hold securities.  The material in this release is intended to be strictly informational and is NEVER to be construed or interpreted as research material.  All readers are strongly urged to perform research and due diligence on their own and consult =a licensed financial professional before considering any level of investing in stocks.  All material included herein is republished content and details which were previously disseminated by the companies mentioned in this release.  FNM is not liable for any investment decisions by its readers or subscribers.  Investors are cautioned that they may lose all or a portion of their investment when investing in stocks.  For current services performed FNM has been compensated twenty six hundred dollars for news coverage of the current press releases issued by Arena Minerals by a non-affiliated third party.  FNM HOLDS NO SHARES OF ANY COMPANY NAMED IN THIS RELEASE.


This release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. “Forward-looking statements” describe future expectations, plans, results, or strategies and are generally preceded by words such as “may”, “future”, “plan” or “planned”, “will” or “should”, “expected,” “anticipates”, “draft”, “eventually” or “projected”. You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, and other risks identified in a company’s annual report on Form 10-K or 10-KSB and other filings made by such company with the Securities and Exchange Commission. You should consider these factors in evaluating the forward-looking statements included herein, and not place undue reliance on such statements. The forward-looking statements in this release are made as of the date hereof and FNM undertakes no obligation to update such statements.


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The post The Allure of Drilling: Why Earth’s Natural Resources Are So Precious appeared first on Financial News Media.

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