Alara to acquire 75pc of equity in Oman copper-gold project | Oman Observer

Australian minerals development and exploration firm Alara Resources Limited (Alara) has announced that it has secured rights to acquire up to a 75 per cent interest in Pilatus Resources Oman LLC (Pilatus) which currently holds three Exploration Licenses in the Samayil Ophiolite of Oman.

The licenses cover 80 square kilometres over the prospective Al Ajal, Washihi and Mullaq Copper-Gold Project areas. These prospects are located on the Samayil Ophiolite belt which hosts Cypress type VMS deposits. The three license areas are approximately 80-160km east and southeast of Alara's Daris Copper-Gold Project (Block 7)1 and Awtad Copper-Gold Project (Block 8)2.

This project is the third (after Daris Block 7 and Awtad Block 8) of a number of copper-gold opportunities Alara is currently pursuing in Oman. The company will target mineralisation based on previous drilling and geophysics of 2.5 million tonnes at 1.3 per cent copper equivalent to 4.5 million tonnes at 1 per cent copper equivalent (which includes gold credits) across the existing areas of drilling within the three licence areas.