New high-grade copper prospect unveiled in Oman's Block 8
Power Arabia Ltd, majority-owned by Power Metal Resources PLC — a London-listed exploration company with a global project portfolio — described the newly identified Al Maidar Prospect as a 'high prospectivity target.' This new discovery, along with the previously identified Al Mansur Prospect, underscores the Block's potential to host significant copper mineralization, company officials said.
The Block is currently held by a joint venture between Australian exploration company Alara Resources Ltd and Oman-based Awtad Copper LLC. However, in October last year, Power Metal Resources signed a provisional agreement with the JV to acquire a 12.5% stake in Block 8. Under the terms of the deal, Power Metal committed to investing approximately $740,000 in exploration activities to earn this stake.
'Exploration work, including rock chip sampling, mapping, and in-fill gravimetric geophysical surveying, has focused on two high-priority prospects — the Al Maidar and Al Mansur Prospects — both of which have the potential to host significant mineralization,' Power Metal Resources said in a statement.
Sean Wade, CEO of Power Metal Resources, commented: 'These results further underpin our confidence that these two key prospects have the potential to host significant mineralisation, whilst also demonstrating the wider potential for Block 8 to deliver value to stakeholders and shareholders.'
Atmavireshwar Sthapak, Managing Director of Alara Resources, added: 'We are pleased with the encouraging results from recent exploration activities undertaken by our partners in the Block 8 exploration licence. The Al Mansur Prospect, originally discovered by Alara in 2012–13, continues to demonstrate strong potential and has now progressed to the drill-testing stage. The discovery of the new Al Maidar Prospect by Power Metal further highlights the broader potential of Block 8 to host additional copper mineralisation. Alara is committed to advancing the exploration of Block 8 and intends to increase its stake in the joint venture through continued investment alongside Power Metal.'
According to Power Metal, rock chip sampling from the Al Maidar Prospect yielded copper concentrations of 7.84%, 4.7%, 2.8%, and 2.7%, showing a strong correlation with an associated structural feature. A full technical report has been submitted to the Ministry of Energy and Minerals in support of the project's licence renewal process.
Copper mining and processing is now a significant activity within Oman's rapidly growing mining sector. Leading players in this field include Minerals Development Oman (MDO) — the mining investment arm of the Oman Investment Authority (OIA) — and its subsidiaries Mawarid Mining and Mazoon Mining; Oman Mining Company; Green Tech Mining Services; and Al Hadeetha Resources, among others.
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