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Alara Resources Limited (ASX:AUQ)

ALERT: Price-sensitive ASX Announcement for AUQ
Current share price for AUQ : $0.062 -0.009 (-12.68%)+
Announcement
Release
13 Oct 2026 9:36AM
Price at Release
$0.071
Full Release
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Summary
Alara Resources Limited announced an exploration and prospect generation update for Oman’s Block 22B Concession, held through Al Hadeetha Mining LLC in which Alara owns 27.5%, reporting that integrated geological, geochemical, geophysical, remote-sensing and field-validation work has identified 12 copper-gold prospect areas across Block 22B and the adjoining Al Wash-hi Mullaq licence area, comprising 10 newly generated targets (22B-T01 to 22B-T10) plus the previously reported WH02 and WH03 targets, while also carrying forward five conceptual MQ magnetic anomalies for future validation; the 1,448 km² concession is considered prospective within the Semail Ophiolite belt near the operating Al Wash-hi Majaza mine, and detailed fieldwork completed so far at 22B-T04, 22B-T05 and the WH02–WH03 corridor returned encouraging rock-chip results including peak natural copper values of 15,546 ppm at 22B-T04 and 22,681 ppm (2.27% Cu) at 22B-T05 associated with visible malachite, with additional elevated reconnaissance copper values at several other prospects, while a concession-wide HeliTEM airborne electromagnetic and magnetic survey totalling 6,132 line-km was completed on 4 July 2026 and is expected to support target refinement when interpretation is received in FY27 Q2; no prospects have yet been ranked, and the next staged programme is expected to include remaining field verification, integrated ranking, ground geophysics, infill sampling, trenching and potentially scout drilling, with the company noting that these are early-stage exploration results and not Mineral Resources.
Key Points
  • Alara holds a 27.5% interest in Al Hadeetha Mining LLC, which holds the Block 22B Mineral Exploration Concession in Oman.
  • The company identified 12 copper-gold prospect areas across Block 22B and the adjoining Al Wash-hi Mullaq licence area.
  • The 12 prospects comprise 10 newly generated targets named 22B-T01 to 22B-T10 plus the previously reported WH02 and WH03 targets.
  • Five additional MQ low-magnetic anomalies were retained as conceptual targets pending first-pass field validation.
  • Block 22B covers about 1,448 km² near Izki in central Oman within the prospective Semail Ophiolite belt.
  • Detailed mapping and systematic rock-chip sampling have so far only been completed at 22B-T04, 22B-T05 and the WH02–WH03 corridor.
  • 22B-T05 returned the peak natural rock-chip result of 22,681 ppm copper, equivalent to 2.27% Cu, associated with malachite.
  • 22B-T04 returned a peak natural rock-chip result of 15,546 ppm copper.
  • Reconnaissance rock-chip sampling also returned elevated copper values at 22B-T03, 22B-T06, 22B-T08, 22B-T09 and 22B-T10.
  • The HeliTEM airborne electromagnetic and magnetic survey was completed on 4 July 2026 with 6,132 line-km flown across the concession.
  • Interpretation of the airborne geophysical survey is expected in FY27 Q2, consistent with Australian financial year reporting.
  • No prospect has yet been ranked because field verification across all identified prospects is not yet complete.
  • WH02 and WH03 are historical JORC 2012 Exploration Targets first reported in October 2014 and repeated here without change.
  • Planned follow-up work includes mapping, geochemical sampling, ground IP/EM or resistivity surveys, trenching and possible scout drilling.
  • The company emphasised that the reported prospectivity, anomalies and rock-chip results do not constitute a Mineral Resource.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.