Alara Resources (ASX: AUQ) continues to receive favourable results from diamond drilling at its copper gold projects in Oman including 12.8 metres at 6.6 grams per tonne (g/t) gold and 0.7% copper from 23 metres at its Daris prospect.
The company also received an assay of 10 metres at 5.6% cooper and 1.16g/t gold from 57 metres at Daris while a hole at the Mullaq prospect returned 3 metres at 4.7% copper from 75 metres.
Alara said the results excellent copper and gold grades from Daris had increased confidence in the potential of the prospect.
It added the results at Mullaq, where assays from one of seven recently completed diamond drill holes has been received, provided encouraging initial results that will require further testing.
Results from the remaining six holes will allow Alara to develop a more detailed picture of the mineralised zone.
The proximity of Daris to Mullaq as well as the Washihi prospect, where Alara has previously announced intersections including 112.35 metres at 0.78% copper and 0.11g/t gold, indicate the likelihood that a significant resource inventory can be established to justify a copper mine based on a central processing plant.
The Oman Copper-Gold Projects are located in a region with several examples of VMS copper deposits in the Ophiolites and close to a nearby copper smelter.
Alara is targeting 3.2 to 5 million tonnes at 0.8-1.% copper and 0.3 to 0.5g/t gold in the region.
The company has begun a Scoping Study for a 500,000 tonne per annum throughput mining and beneficiation at Washihi.
Proactive Investors is a market leader in the investment news space, providing ASX “Small and Mid-cap” company news, research reports, StockTube videos and One2One Investor Forums.