Alara Resources Drilling Update - Khnaiguiyah Zinc-Copper Project, Saudi Arabia
Perth, April 11, 2012 AEST (ABN Newswire) - Australian-based minerals exploration and development company Alara Resources Limited (
ASX:AUQ) ("Company") is pleased to report the results from an ongoing drilling programme at its Khnaiguiyah Zinc-Copper Project in Saudi Arabia.
The drilling results announced today confirm the possibility of significant additional mineralisation to the JORC Resource(1) announced on 21 February 2012 and represent a progressive update on the Company's 10,000m backlog of additional drilling conducted since the drilling cut-off date of 22 November 2011 for the JORC Resource estimation from the Khnaiguiyah Zinc-Copper Project in Saudi Arabia.
Alara is pleased to announce the drilling results covering a total of 27 holes including an additional 15 holes from Zone 2 and a second batch of results from Zone 1 comprising 12 holes. These results are outside the resource area and confirm additional mineralisation by Zone 1 and Zone 2 (North extension).
Drilling is continuing in Zones 1 and 2 to explore mineralised extensions the results of which will be announced in the following months.
DRILLING HIGHLIGHTSZONE 1:- Hole K1RC11_188 from 27-34m: 7m at 8.32% Zn; 0.21% Cu- Hole K1RC11_189 from 27-32m: 5m at 7.7% Zn; 0.15% Cu and 40-44m: 4m at 13.21% Zn; 0.15% Cu- Hole K1DD11_190 from 19-26m: 7m at 9.02% Zn; 0.38% Cu- Hole K1DD11_193 from 62-67m: 5m at 7.69% Zn; 0.57% CuZONE 2:- Hole K2DD11_159 from 50-62m: 12m at 7.18% Zn; 0.11% Cu- Hole K2DD11_167 from 159.45-168m: 8.55m at 7.65% Zn; 0.08% Cu- Hole K2DD11_157 from 23-26m: 3m at 5.69% Zn; 0.15% CuZONE 2 (Copper Rich Zone):- Hole K2DD11_158 from 105-115m: 10m at 0.59% Cu- Hole K2DD11_161 from 132-148m: 16m at 1.31% Cu including 138-143m: 5m at 2.5% Cu- Hole K2DD11_162 from 150-167m: 17m at 0.51% Cu- Hole K2RC11_160 from 177-184m: 7m at 1.4% Cu including 181-183m: 2m at 3.32% Cu
*(1) The measured, indicated and inferred JORC Code compliant resource at Khnaiguiyah (21-Feb-12) comprises 26.4Mt at 3.9% Zn and 7.0Mt at 0.8% Cu for 1,035,948 t Zn (2,284m lbs) and 56,376 t Cu (124m lbs) respectively.
The results of Zone 1 continue to confirm mineralisation at shallow depths and similar in grade as that in Zones 2 and 3.
In Zone 2, holes K2DD11_167 and K2DD11_168 drilled confirms extension of mineralisation outside current resource area in North East direction. Mineralisation is open in North East direction.
A complete tabulation of intersection results along with maps indicating the location of these holes in Zones 1 and 2 are attached (refer Figure 1 and Table 1 for Zone 1 and refer Figure 2 and Table 2 for Zone 2).
It is noted that drill intercepts are reported as drilled; true thicknesses will be calculated at the interpretation and resource modelling stage. The drill intersections are almost perpendicular to mineralisation and no significant difference is expected in true and intersection thickness.
Alara Resources' Managing Director, Shanker Madan, said: "These latest results confirm the additional mineralisation within Zones 1 and 2 and give us further confidence surrounding the potential feasibility and scale of the Khnaiguiyah Zinc-Copper Project."
DRILLING STATUS
The Company is continuing the infill and step-out drilling to extend mineralisation in Zone 1 and other Zones with a view to identifying additional mineralisation prior to the completion of the Khnaiguiyah DFS in Q2 2012. Since the commencement of the Khnaiguiyah Zinc-Copper Project drilling programme, Alara has completed a total of 260 holes to 33,078 metres.
To view the complete Alara Resources announcement including Tables & Figures, please refer to the following link below:
http://media.abnnewswire.net/media/en/docs/72248-ASX-AUQ-20120411.pdf
About Alara Resources Limited
Alara Resources Limited (ASX:AUQ) (OTCMKTS:ALULF) is an Australian minerals exploration company with a portfolio of projects in Saudi Arabia and Oman. Alara has completed a Definitive Feasibility Study on the Khnaiguiyah Zinc-Copper Project in Saudi Arabia, an Advanced Scoping Study on the Daris and Washihi, Mullaq and Al Ajal exploration licences in Oman and a Feasibility Study for the Al Hadeetha Copper Gold Project, Washihi ore reserve. The Company is transitioning to establish itself as a base and precious metals mine development and production company. For more information, please visit: www.alararesources.com
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