ASX-listed and MENA-based Alara Resources (ASX:AUQ) has announced its receipt of a new extended exploration block in Oman as part of its existing JV.
The expansion reflects some 1452sq.km now ‘given’ to Alara to go on the hunt for copper-gold (and other base metals) in a permit called Block 22-B.
Block 22-B is effectively an amalgamation of two existing blocks into one entity such that exploration licences granted to Al Hadeetha – in which Alara owns 51% – can be utilised.
“Alara securing an additional area for mineral exploration in Oman demonstrates the Government’s faith and trust in the Company and its JV partners,” company chief Atmavireshwar Sthapak said.
“Extended Block 22-B, which includes the existing Wash-hi – Majaza copper-gold mine and an ancient mine and copper mineralisation intersected at Mullaq, has tremendous potential.”
The company reported on Tuesday “reports of several old copper workings in the north-western section of the block,” as well as old gold workings in the northern section.
“Old iron workings” are believed to also be present to the west.
Alara’s existing Wash-hi project falls within the Block-22 boundary envelope.
AUQ last traded at 6.3cps.