Asara Resources Reports 125% Rise in Guinea Project Resource to Over 2 Million Ounces, Shares Down 3%

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Asara Resources (ASX:AS1) said the total mineral resource for its Kada Gold Project in Guinea has increased 125% to 92.9 million tonnes at 0.7 grams per tonne gold for almost 2.1 million ounces of contained gold, according to a Monday Australian bourse filing.

The 2023 total mineral resource estimate was 920,000 ounces at a 0.5 g/t cut-off, with the updated mineral resource estimate reported at a 0.32 g/t cut-off, the filing added.

The company said indicated mineral resources have increased more than sixfold to nearly 1.3 million ounces, now representing 61% of total contained gold compared with 24% in the 2023 MRE, providing a strong foundation for the definitive feasibility study targeted for completion by the end of the second quarter of 2027.

The company's shares fell 3% in recent Monday trade.

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