Alara – 50% with right to increase to 70%+, Al Tamman Trading Establishment LLC – 50%, of Daris Resources LLC
The Daris Copper-Gold Project is located 150km west of Muscat, the capital of Oman. The project comprises one exploration licence (Block 7) of approximately 587km2, located adjacent (contiguous) to another Alara project, the Awtad Copper-Gold Project.
Alara has a 50% interest (with a right to increase this to 70%+) in the Daris Project via an initial 50% shareholding interest in a joint venture company, Daris Resources LLC, which holds the exclusive right to manage, operate and commercially exploit the exploration licence.
Extensive geophysical surveys have been completed over prospective areas within the Daris Project, including 1,200 line kilometres of helicopter-borne electromagnetic VTEM survey, 163 line kilometres of ground magnetic surveys and 20 line kilometres of ground IP and EM survey.
Mineralisation has been confirmed by Alara drilling at the following two prospects:
Two Mining Licence applications covering 3.2km2 and 1.3km2 have been filed over the Daris East and Daris 3A-5 prospects. The proximity to the capital city, a paved highway and modern copper extraction facilities nearby (in Sohar) should assist in the development of early cash flow from any discoveries made in the project area.
Table: JORC Measured, Indicated and Inferred Resources for Daris-East Prospect
The information in these JORC Reserve and Resource tables was prepared and first disclosed under the JORC Code 2004. It has not been updated since to comply with the JORC Code 2012 on the basis that the information has not materially changed since it was last reported.
Daris and Al Hadeetha Copper-Gold Projects Alara has joint venture interests in five copper-gold deposits located within four Exploration Licences in Oman extending over 692km2. These deposits are also covered by 5 Mining Licence applications pending grant, totalling ~9km2. The Daris Copper-Gold Project is located ~170km northwest of Muscat (the capital of Oman). The Washihi/Mullaq prospects are located ~100km south-southeast of Daris. Both projects/prospects are located on or very close to high quality bitumen roads. Daris Copper-Gold Project The current status of all licences/applications for this project is presented in the table below. Al Hadeetha Copper-Gold Project The current status of all licences/applications for this project is presented in the table below.
The Daris Project is located in the Semail Ophiolite belt in Northern Oman that extends over 800km. This belt provides a prospective setting for Cyprus-type VMS copper gold deposits. In the past, the Government-owned Oman Mining Company has produced, mined and treated 14 million tonnes of copper resource at between 1-2% copper from open cut mines at their Lasail, Arja and Baida mines.
More recently, a privately owned Omani Company has located a large resource of copper nearby, within 50km from the Project area.
Alara believes that the project area has the potential to host substantial copper mineralisation. During the course of its due diligence, Alara identified a number of potential targets in addition to those previously drilled in the project area on a reconnaissance basis by the Government or consultants on its behalf. Drilling to date has identified the possibility of high grade oxide and sulphide mineralisation at shallow depths in two separate high grade pods.
Alara’s Joint Venture partner for the Daris Project is represented by Al Tamman Trading Establishment LLC (ATTE). ATTE is a wholly owned subsidiary of Muscat Overseas Group, a prominent business entity in Oman affiliated to the royal family, having management rights for the country’s largest bank in Muscat. ATTE establishments in Oman also comprise oil field services, real estate and mining. As a mining group ATTE is one of the largest chromite and manganese producers in Oman. It started its operation of producing chrome ore in 2007.
The information in this report that relates to JORC Resources in relation to the Al Hadeetha Copper-Gold Project (Oman) is based on, and fairly represents, information and supporting documentation prepared by Mr Ravi Sharma, who is a Chartered Member of The Australasian Institute of Mining and Metallurgy. Mr Sharma is an independent consultant to Alara Resources Limited. Mr Sharma has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration, and to the activity he is undertaking to qualify as a Competent Person as defined in the JORC Code, 2012 edition. Mr Sharma approves and consents to the inclusion in the report of the matters based on his information in the form and context in which it appears. This includes Mineral resource table and content related to data verification, QAQC, sample preparation and Mineral resource methodology and classification in JORC Table 1.