Alara Resources (ASX:AUQ) has been awarded a mining licence over the Daris 3A5 prospect, part of the broader Daris Copper-Gold Project in Oman.
This marks a milestone for Alara, which says it strengthens its position in Oman’s mining sector. This is the second mining licence to be secured for the company in Oman.
Over the next year, Alara, which has a market capitalisation of $27.3 million, plans to conduct geophysical surveys to plan drillhole locations, as well as undertake a diamond core drilling program to define mineralisation boundaries.
Upon completion, the company will also issue a resource estimate if warranted by the exploration results.
Metallurgical testwork may also be completed, as well as the definition of a mineral resource and completion of mining studies.
Once completed, Alara will progress detailed mine planning activities, alongside advance discussions for toll treatment arrangements with existing copper concentrators in Oman.
Managing Director Atmavireshwar Sthapak says the award of the licence reaffirms the company’s commitment to Oman’s mining industry.
“Over the past 15 years, Alara has delivered consistently – from completing exploration programs and feasibility studies to building Oman’s first copper mine and processing facility at Wash-hi Majaza,” Sthapak says.
“Daris 3A5 is poised to become our second copper mining operation, and we are excited to unlock further value.”
The Daris 3A5 licence was awarded over a portion of Block 7 with an area of 0.65km2. Block 7, including the 3A5 licence, is operated by Daris Resources which is a joint venture company in which Alara holds management and commercial rights.
Alara Resources is an Australia-based precious and base metals producer and explorer.
Write to Aaliyah Rogan at Mining.com.au
Images: Alara Resources
