Daris Copper-Gold
(Alara – 50% with right to increase to 70%+, Al Tamman Trading Establishment LLC – 50%, of Daris Resources LLC))
Background
Alara has a 50% interest (with a right to increase this to 70%+) in the Daris Copper-Gold Project located in Oman, via an initial 50% shareholding interest in a newly formed joint venture company, Daris Resources LLC, which holds the exclusive right to manage, operate and commercially exploit the exploration licence.
Alara plans to pursue a twofold strategy in the project area:
- To develop high grade oxide / sulphide mineralisation that may be amenable to heap leaching or at custom treatment facilities nearby; and
- To explore shallow and deeper sulphide mineralisation using modern geophysical and geochemical techniques.
Drilling Programme
A 27 hole diamond and rotary initial drilling programme has been completed (in Q4 2010) on targets identified by Alara within two of the twelve known copper occurrences within the Daris Project area:
- Daris East prospect - 21 rotary and 3 diamond core holes were drilled to test shallow oxide mineralisation for a potential heap leach operation and to locate massive sulphide zones beneath the oxide cap; and
- Daris 3A-5 prospect (located ~10 kilometres north-west of Daris East) - 3 diamond core holes were drilled to test shallow sulphide mineralisation around a known gossan, based upon government-funded exploration work conducted by various agencies over the past 30 years.
The results of this drilling campaign have confirmed the presence of sulphide mineralisation over a strike distance of over 100m at Daris East covered by a wider cap of oxide mineralisation with variable thicknesses and grades.
Alara has commenced a phase 2 step-out drilling programme at the Daris East prospect to test the presence of sulphide mineralisation to the west of the previously encountered mineralisation. An initial 2nd phase programme of 1000m of diamond HQ holes commenced in March 2011, which will be expanded once the results of a helicopter borne electromagnetic VTEM survey undertaken in April 2011 (referred to below) have been analysed.
On 19 April 2011, Alara announced the completion of four diamond core drill holes with massive sulphide mineralisation ranging in thickness from 2.85m to 7.25m intersected in three (DEDC005, DEDC006 and DEDC007) of the four completed drill holes confirming the westward continuity of the mineralised zone over 160m and still open to the west.
Next steps
Alara has received (April 2011) preliminary VTEM data for which interpretation has been commenced. The Daris East mineralisation is clearly identified on two flight lines. Interpretation and field checking of various other conductors identified in the survey is expected to be completed in May 2011.
After reviewing the results of the VTEM geophysical survey, a further drilling programme will be planned, in the first instance to extend the previously drilled mineralisation and secondly to drill additional high priority potential clusters.
