Asara Resources Accelerates Kada Gold Project with 923 Koz Resource and Aggressive Drilling

Kada Project Anchored by 923 Koz Gold Resource

Asara Resources has laid out a compelling growth blueprint for its Kada Gold Project in Guinea, centred on the flagship Massan deposit which holds a 2023 Mineral Resource Estimate (MRE) of 906,000 ounces of gold (224 koz Indicated and 682 koz Inferred). Including the smaller Bereko deposit, the total Kada resource stands at approximately 923,000 ounces, with both deposits showing clear potential for expansion along strike and at depth.

The Massan deposit’s resource is currently constrained more by drilling density than geological continuity, with mineralisation confirmed over a 3.5-kilometre strike length and to depths exceeding 600 metres. Recent and ongoing drilling campaigns are designed to convert significant Inferred ounces to the higher-confidence Indicated category and expand the overall footprint. Notably, the pit shell used for the 2023 MRE was shallow (~140 metres) due to limited deep drilling, but new results support a deeper pit shell of at least 250 metres, potentially enhancing project economics.

Aggressive 2026 Drilling to Unlock Resource Upside

Asara has committed to an accelerated drilling program in 2026, targeting approximately 100,000 metres across two concurrent campaigns. The Phase 1 program focuses on expanding and upgrading the Indicated Resource over a 1.3-kilometre strike length and increasing depth coverage to at least 250 metres through around 80,000 metres of RC and diamond drilling. Phase 2 aims to extend the Inferred Resource strike length from 1.3 kilometres to over 3.5 kilometres with about 20,000 metres of drilling.

Early results from this campaign have already confirmed broad, continuous mineralisation beyond the 2023 pit shell, with significant intercepts such as 121 metres at 1.2 grams per tonne gold from 18 metres and 50 metres at 1.2 grams per tonne from 111 metres. These findings reinforce the deposit’s potential for substantial growth, as highlighted in recent drilling updates that demonstrate continuity along strike and at depth, supported by the deployment of additional rigs to accelerate resource conversion and expansion.

The company is also advancing exploration on adjacent permits including Banan, Talico, and Syli Resources, which could extend the Siguiri trend strike coverage to over 35 kilometres. The ongoing conditional acquisition of the Damissa Koura permit (Arafura acquisition) adds further prospective ground to the portfolio, although completion is pending.

Favourable Mining Characteristics and Metallurgical Performance

Massan’s geology supports a low strip ratio open pit mining scenario, with mineralisation hosted in broad, continuous zones within a stockwork system controlled by intersecting regional structures. The deposit features a deeply weathered saprolite profile averaging 120 metres, offering substantial free-digging oxide material. Metallurgical testwork confirms excellent gold recoveries exceeding 95% in oxide and around 88% in fresh rock, underpinning a scalable development opportunity.

Strategically, Kada benefits from proximity to established mining hubs such as Siguiri, Kankan, and Kouroussa, providing access to infrastructure, skilled labour, and services that reduce development risk. The company envisions Massan as a large starter deposit with potential satellite deposits feeding into a centralised processing hub, supporting a sustainable long-term mine development strategy.

Experienced Leadership and Strong Shareholder Support

Asara’s board and management bring deep West African gold expertise, with a track record including the discovery and development of major deposits like the Siguiri and Kiniero mines. CEO Matthew Sharples and VP of Exploration Andrew de Klerk lead a team seasoned in advancing projects through exploration, permitting, and financing stages.

The company’s capital structure is robust, with a market capitalisation of approximately A$225 million and no debt. Major shareholders include Barbet LLC FZ with nearly 15% ownership. The share price has surged nearly 900% over the past two years, reflecting investor confidence in Asara’s operational progress and growth potential.

South American Assets and Corporate Governance

Beyond Guinea, Asara maintains a South American portfolio focused on the Loreto Copper Project in Chile, where it holds a joint venture agreement with Teck Resources Chile. Teck can earn up to a 75% interest by fulfilling payment and exploration commitments. Meanwhile, the company is actively pursuing the divestment of its non-core Paguanta critical minerals project, which hosts a significant silver-lead-zinc-copper resource.

Asara emphasises strong environmental, social, and governance (ESG) standards, investing in local community infrastructure, prioritising local employment and procurement, and committing to responsible environmental management. Independent board oversight and risk management frameworks are in place to support sustainable value creation.

This comprehensive update follows recent strong drilling results that have confirmed broad gold mineralisation extensions at Massan, reinforcing the significant resource growth potential and underpinning the company’s aggressive development strategy broad gold mineralisation extensions. With assay results pending from ongoing drilling, the market will be watching how quickly Asara can translate exploration success into resource upgrades and ultimately, project development milestones.