Alara Resources (ASX:AUQ) has announced more drill results from their 75% owned washihi project in Oman. The company drilled 88 meters at 1.75% Cu and 0.19g/t gold, including 30 meters at 2.99% copper and 1.92g/t gold, which is extremely high-grade. Mineralization starts at a moderate depth of 67 meters, and further drilling is warranted to continue to test the extensions of the currently outlined resource estimate.
Washihi currently has a resource estimate containing approximately 140M lbs of copper. That’s definitely not a shocking amount, but these most recent drill results indicate there’s more to be found. This drill update is interesting as the results indicate there’s potential both to increase the total tonnage and copper content, as well as to increase the average grade of the deposit.
Download the press release here
Disclosure: The author holds no position in Alara Resources Ltd. Please see our disclaimer for current positions.
