Exploration Risks Persist Despite Promising Copper Finds at Alara’s Block 8

Exploration Progress in Oman’s Block 8

Alara Resources Limited (ASX: AUQ) has unveiled promising initial exploration results from its Block 8 concession in Oman, operated in joint venture with Power Metal Resources plc. The exploration, conducted by Power Metal’s majority-owned subsidiary Power Arabia Ltd, has rapidly advanced since the JV agreement was signed in October 2024.

Fieldwork completed over the last quarter of 2024 included stream sediment sampling, geological mapping, rock chip sampling, trenching, and preparatory work for geophysical surveys. Notably, assays from 13 rock and float samples have returned significant copper grades, including a standout 4.46% copper in situ outcrop at the Al Maider prospect and a 1.75% copper malachite float sample nearby. These results are particularly encouraging given the previously unexplored nature of the area.

Strategic Targeting and Geological Insights

The exploration strategy focuses on five initial target areas identified through a comprehensive review of historical and new data. These targets encompass potential Cyprus-type volcanogenic massive sulphide (VMS) copper-gold mineralisation zones, as well as chromium and platinum group element (PGE) prospects within the mantle sequence rocks.

Target Area 1, centred on the Al Mansur prospect, has already seen trenching activity aimed at understanding mineralisation controls and preparing for drill targeting. Meanwhile, Target Areas 2 through 5 are being advanced through geochemical sampling and mapping, with ionic leach soil sampling and gravimetric geophysical surveys planned to refine drill targets further.

Collaborative Efforts and Next Steps

Alara’s Managing Director Atmavireshwar Sthapak expressed optimism about the partnership with Power Metal, highlighting the discovery of new copper mineralisation locations and the commitment to intensify exploration efforts. Power Metal CEO Sean Wade acknowledged the progress made by the on-ground geological team and indicated ongoing efforts to secure long-term funding for Power Arabia’s operations.

Looking ahead, the exploration team awaits assay results from the extensive stream sediment and ionic leach soil sampling programmes, which will be critical in validating and expanding the current understanding of mineralisation across Block 8. The planned gravimetric surveys, scheduled for February 2025, will complement these efforts by providing detailed subsurface geological insights.

While these early-stage results are encouraging, Alara cautions that further work is required to confirm the economic viability of the discoveries. Nonetheless, the rapid progress and high-grade copper findings position Block 8 as a compelling exploration asset within Oman’s mineral-rich landscape.