Asara Resources (ASX: AS1) announced significant Phase 2 drilling results at the Massan deposit within its Kada gold project in Guinea, intersecting a standout 54m at 2.3 g/t Au.
This result confirms the continuation of the NE high-grade corridor and supports potential resource growth.
Other Phase 2 intercepts include MSAC26-012 (3m at 1.6 g/t), MSAC26-008 (5m at 1.7 g/t), MSRC26-012 (4m at 0.8 g/t), and MSAC26-006 (1m at 4.6 g/t).
Phase 1 conversion drilling also returned substantial intervals, such as MSRC26-005 (37m at 0.96 g/t from 0m).
Resource Expansion Targets
The current plan targets systematic drilling to depths of at least 250m.
Expansion efforts are focused along roughly 3.5 km of strike beyond the current Mineral Resource Estimate (MRE) footprint.
Drilling density outside the core Massan area is limited, justifying further high-priority holes in the Phase 1 Indicated Conversion program.
The existing Mineral Resource Estimate for the Kada Gold Project is 30.3 Mt at 0.93 g/t Au for 923 koz.
Previous drilling in January 2026 confirmed grade continuity and down-dip growth at Massan, supporting a larger mineralised footprint.
Asara has been actively expanding its land package in Guinea, with pending licence applications to extend the Siguiri corridor.
Strategic & Financial Backdrop
Asara is targeting a US$25 million equity raise to accelerate Kada drilling and resource expansion.
The company previously divested Burkina Faso assets and advanced its Loreto copper-asset joint venture with Teck.
Cornerstone investor Barbet L.L.C FZ holds a significant stake, and CEO Matthew Sharples was appointed.
The company reported a net loss of US$1.52 million for the year ended 30 June 2025.
Outlook and Risks
The latest drilling results from Massan at the Kada Gold Project are highly encouraging, extending a high-grade corridor and supporting resource growth potential.
However, investors should remain mindful of the inherent exploration risks, the need for continued funding, and potential impacts of commodity price fluctuations and regulatory changes in Guinea.
