Alara Resources Ltd. subsidiary Alara Oman Operations Pty. Ltd. is forming a joint venture with South West Pinnacle Exploration Ltd. to undertake drilling and mineral exploration in Oman.
The two companies have been working together in the country since 2012, according to a March 19 release.
The joint venture will drill, explore and develop mines and offer services to other companies in Oman and the Gulf Cooperation Council, including Alara's other joint ventures in Oman.
Alara Resources has a 70% interest in five copper-gold exploration licenses covering more than 1,100 square kilometers, which includes the preproduction-stage Al Hadeetha property, the feasibility-stage Daris property and the early stage Awtad property.
Alara Oman signed an agreement earlier in March to acquire up to a 70% interest in Awtad Copper LLC and its Awtad project.
