Alara Resources secures new exploration block in Oman

Alara Resources Limited (ASX: $AUQ) has been granted an additional 1452 km2 of exploration ground titled 'Block 22-B' by the Omani Ministry of Energy and Minerals. This new development invites the JV to negotiate and execute an Exploration and Mining Concession Agreement, granting exclusive rights for exploration, appraisal, development, and mining of designated minerals within Block 22-B.

Alara Managing Director's perspective on the new exploration block

Alara Managing Director Atmavireshwar Sthapak expressed, 'Alara securing an additional area for mineral exploration in Oman demonstrates the Government's faith and trust in the Company and its JV partners. This exciting moment is the result of Alara's strong, decade-long commitment and unwavering effort, in alignment with the Omani Government's vision for mining, by investing in and conducting state-of-the-art mineral exploration campaigns, discovering multiple instances of base metal mineralisation in the country and developing an operating copper mine. Extended Block 22-B, which includes the existing Wash-hi - Majaza copper-gold mine and an ancient mine and copper mineralisation intersected at Mullaq, has tremendous potential for further mineral discoveries adjacent to the Company's existing processing facility. The timing of the grant of this concession fits well into Alara's overall Oman copper development strategy.'

Outlook for Alara Resources and Block 22-B

Alara Resources' acquisition of Block 22-B signifies a significant milestone in its commitment to mineral exploration and development in Oman. The company's strong partnership with the Omani Government and its JV partners has led to the expansion of its exploration footprint, presenting opportunities for further mineral discoveries. With the inclusion of existing projects within Block 22-B and the geological potential indicated by the Semail Ophiolite upper-crustal rocks, Alara Resources is poised for continued growth and advancement in its Oman copper development strategy. The company's mission to become a mid-tier minerals producer aligns with the opportunities presented by the new exploration block, reinforcing its pursuit of profitable growth and sustainable operations.