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Alara Resources Ltd.
Summary
| Project: | Al Hadeetha | |
|---|---|---|
| Deposit: | Al Hadeetha | |
| Location: | Oman | |
| Commodities: | Copper-Gold | |
| Date: | 9/19/2016 | |
| Report Code: | JORC | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 19-9-2016: Alara Resources Ltd. announces a Resource Estimation report for its Al Hadeetha deposit at the Al Hadeetha project. Mineral resource update, 5.55Mt increase in Indicated resource. Alara Resources Limited (ASX: AUQ) (Alara or Company) is pleased | |
| Resources: | (Resource): 12.39Mt @ 0.89% Cu, 0.22g/t Au (Ind.) and 3.71Mt @ 0.79% Cu, 0.23g/t Au (Inf.) | |
| CP/QP: | [Resources]: Ravi Sharma (Independent) | |
| ABSTRACT: | Alara Resources Limited (ASX: AUQ) (Alara or Company) is pleased to report this upgraded mineral resource estimate following the recent infill drilling program. A total of six drill-holes were completed at Washihi to convert Inferred Resource to Indicated Resource. The updated resource model significantly increases the estimate of Indicated Resource from 6.84MT@ 0.9%Cu and 0.17g/t Au to 12.39MT@ 0.89%Cu & 0.22g/t Au (using 0.25% Cu cut-off) which is 81%improvement from the previously reported resource estimate. Updated JORC Resource statement at Washihi @0.25 % Cu now stands at: Indicated Resource of 12.39MT @ 0.89%Cu & 0.22g/t Au Inferred Resource of 3.71MT @ 0.79%Cu & 0.23g/t Au The resource statement for Gold in Gossan hill @ 0.25 g/t Au Cut off, outside main Cu ore body stands at: Inferred Resource of 0.31MT @ 0.51g/t Au. As noted in the Company’s announcement of 8 September 2016, although an increase in the indicated resource could have been announced ten days ago, management decided that further review of geological, structural, drilling and geophysical data, was warranted to ensure the revised resource estimate accounted for not only the increase in indicated resource, but also the potential increase in total mineral inventory. The additional work has proven to have been worthwhile and confirmed an increase of 1.99MT in total inventory, which corresponds to 14% increase from previously reported total inventory at 0.25% Cu cut-off. In addition, a new and shallow occurring gold Inferred Resource of 0.31MT @ 0.51g/t (at 0.25g/t Au cut-off) has also been estimated. This gold mineralisation which was intersected in the recent drilling program outside Washihi Resource boundary is delineated and estimated separately under Inferred Resource category. This gold mineralisation was intersected in drill-holes very close to surface and outcropping in the prominent gossan adjacent to Washihi deposit. The new gold resource estimate is provided in the table above. | |
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