Alara Resources Says JV Company Starts Drilling at Oman Project; Shares Fall 5%

MT Newswires Live

01/13

Alara Resources (ASX:AUQ) said its joint venture company, Al Hadeetha Resources, started a diamond drilling program at its Al Wash-hi Majaza copper-gold mine in Oman, according to a Monday filing with the Australian bourse.

The drilling program includes 3,000 meters of infill drilling to improve geological confidence and define the orebody, the filing said.

Additionally, about 4,000 meters of step-out drilling will target mineralization continuities, aiming to expand resources and potentially convert them into reserves to extend the mine's life, the filing added.

Shares of the company fell nearly 5% in recent Monday trade.

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