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Asara Resources to Acquire Guinea Exploration Permits Holder Arafura Ouest

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Asara Resources (ASX:AS1) agreed to proceed with the acquisition of Arafura Ouest PTE, which holds the Damissa Koura and Kankan West exploration permits in Guinea's Siguiri Basin, according to a Monday filing with the Australian bourse.

The deal will materially expand Asara Resources' landholding in the region to about 301 square kilometers, giving it more exposure to prospective geology and opportunities for exploration and potential resource growth, per the filing.

Meanwhile, exploration on the permits will help advance the company's exploration strategy to deliver mineral resource growth as it moves toward a definitive feasibility study for the Kada gold project in Guinea, it said.

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