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Alara Resources Ltd To Reveal Copper-Gold Infill Assays From Al Hadeetha

Alara Resources Ltd (ASX:AUQ) has now wrapped the infill drilling program at the Washihi License, part of the Al Hadeetha Copper-Gold project in Oman.

News flow will remain strong in the near-term with the second batch of 421 samples shipped to the ALS laboratory in Saudi Arabia for multi-element analysis.

A third and final batch of samples will also be dispatched soon.

The reverse circulation and diamond drilling program covered 852 metres across six holes.

Initial results from the in-fill drilling has discovered more high grade copper and gold mineralisation including 5 metres at 3.29% copper, 5.04 g/t gold, 0.22% zinc and 21.72 g/t silver.

These drill holes have confirmed the expected continuity of copper mineralisation and a new massive sulphide intersection within the Washihi deposit.

Washihi

The current Washihi resource contains 14.1 million tonnes at 0.80% copper and 0.18 g/t gold.

Once the final assays have been received, they will be added to the Washihi resource model.

Adding interest, results last month included near surface high grade copper and gold outside of the existing model.

Al Hadeetha Copper-Gold Project

Alara holds a 70% stake in the Al Hadeetha Copper-Gold Project through a joint venture with Al Hadeetha Investment Services.

Alara's partner, Al Hadeetha Investment Services, are associated with the well-known Al Naba group, owned by Sayyid Khalid Al Busaidi and his family.

Al Hadeetha is comprised of 3 exploration licences totalling 105 square kilometres, known as Washihi, Mullaq and Al Ajal.

A feasibility study at Al Hadeetha was recently completed and found the project would return free cash flow of A$109.5 million over 10 years in a conservative base case scenario.

The study forecast the project would generate an internal rate of return of 21% with a A$66.6 million capex cost.

The Washihi mining license application recently received approvals from the Ministry of Housing and Ministry of Water and Electricity as part of the overall process.

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