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11 stories mentioning ASX:AS1Updated 21d ago

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Asia

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

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.

ASX:AS1
Asia

Asara Resources to Acquire Guinea Exploration Permits Holder Arafura Ouest

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.

ASX:AS1
Asia

Asara Resources Agrees to Divest Non-Core Chile Project to Ajax Resources for Up to $1.4 Million

Asara Resources (ASX:AS1) struck a deal to divest its interest in the Paguanta copper and silver-lead-zinc project in Chile to Ajax Resources for $1.4 million, according to a Wednesday filing with the Australian bourse.The price consists of $50,000 in cash and $350,000 in Ajax ordinary shares, payable at completion, as well as deferred consideration of two cash payments of $500,000 each, subject to the achievement of certain milestones.Asara will sell its roughly 74.8% interest in Compania Minera Paguanta, which owns the permits for the Paguanta project, to Ajax.The project has been on care and maintenance since 2018 and is considered a non-core asset, Asara said, adding that the sale is consistent with the company's strategy of advancing its flagship Kada gold project in Guinea.

ASX:AS1
Asia

Asara Resources Identifies High-Grade Gold Mineralization at Guinea Project; Shares Up 5%

Asara Resources (ASX:AS1) identified high-grade gold mineralization during recent drilling at its Massan Deposit within its Kada Gold Project in Guinea, West Africa, according to a Wednesday Australian bourse filing.The results were up to 47 meters at 8 grams per tonne (g/t) gold, including 8 meters at 42.2 g/t gold, and 66 meters at 0.7 g/t gold, including 3 meters at 3.8 g/t gold, the filing added.The results confirm the continuation of significant gold mineralization into the southern extension of the Massan Deposit and further demonstrate the strong upside potential of the previously under-drilled area, the filing added.The company's shares rose almost 5% in recent Wednesday trade.

ASX:AS1
Asia

Asara Resources Raises AU$3.8 Million as Part of Placement, Shares Fall 3%

Asara Resources (ASX:AS1) confirmed that it has placed 30.7 million new shares, representing the balance of the Barbet placement shares, to a group of targeted institutional and professional investors at AU$0.125 per share, raising a total of AU$3.8 million, according to a Monday Australian bourse filing.Barbet had earlier agreed to subscribe for 35.7 million placement shares under a subscription agreement with Asara. Asara agreed to amend the subscription agreement with Barbet, varying the amount of placement shares it will subscribe for to 4.9 million. As such, the total institutional placement size remains at AU$60 million, as announced on May 8.The issue of the 30.7 million new shares will be completed using its existing placement capacity and is anticipated to settle on Thursday.Its shares fell 3% in recent trading on Monday.

ASX:AS1
Asia

Asara Resources Says Drilling at Guinea Deposit Shows Gold Mineralization Strength, Continuity

Asara Resources (ASX:AS1) said 37 drill holes completed as part of the phase one drilling program at the Massan deposit within its Kada gold project in Guinea showed the strength and continuity of mineralization, according to a Thursday Australian bourse filing.The drilling comprised 5,625 meters of reverse circulation and diamond drilling. This included intercepts of 87 meters at 1.3 grams per tonne grade of gold, 22 meters at 2.8 g/t grade of gold, and 13 meters at 4.6 g/t grade of gold.Asara engaged TECT Geological Consulting to support the upcoming updated mineral resource estimate and refine regional exploration and drilling targets.

ASX:AS1
Asia

Asara Resources Continues to Deliver High-Grade Results from Guinea Deposit; Shares Up 5%

Asara Resources (ASX:AS1) continued to deliver consistent high-grade results from the northeast extension within the Massan deposit mineral resource estimate area at its Kada project in Guinea, according to a Friday filing with the Australian bourse.Results include 40 meters at 4.5 grams per tonne (g/t) grade of gold and eight meters at 4.4 g/t grade of gold, including four meters at nearly 11 g/t grade of gold, and 59 meters at 2.1 g/t grade of gold, including 11 meters at 4.3 g/t grade of gold, the filing said.Additionally, the second-phase inferred drilling program continued to intersect continuous mineralization along the main north-south trend, per the filing.Shares rose 5% in morning trade on Friday.

ASX:AS1
Asia

Asara Resources Appoints CFO

Asara Resources (ASX:AS1) appointed Aurelien Douyere as chief financial officer, effective Monday, according to a same-day filing with the Australian bourse.Douyere most recently served as the chief financial officer of Sahara Natural Resources, the filing added.

ASX:AS1
Asia

Asara Resources to Raise AU$60 Million in Institutional Placement

Asara Resources (ASX:AS1) has obtained firm commitments for a dual-tranche institutional placement of about 480 million shares at a price of AU$0.125 each for gross proceeds of AU$60 million, according to a Friday filing with the Australian bourse.The first roughly AU$50 million tranche of 400 million shares will be completed using the company's existing placement capacity and is expected to settle on May 14, while the second AU$10 million tranche will be subject to shareholder approval.Asara Resources plans to use the proceeds to accelerate exploration activities at its flagship Kada gold project in Guinea.

ASX:AS1
Asia

Asara Resources Identifies High-Grade Gold Mineralization in Guinea Project

Asara Resources (ASX:AS1) disclosed the latest set of results from 14 drill holes from its phase 1 reverse circulation and diamond drilling program within the Massan deposit mineral resource estimate area at its Kada gold project in Guinea, according to a Monday Australian bourse filing.The results were up to 82 meters at 2.2 grams per tonne grade of gold, including six meters at 5.2 g/t gold and four meters at 15 g/t gold, including one meter at 57 g/t gold.The company said the Southern High-Grade Extension is interpreted to be a high-grade extension of the Massan Core, linking to the recently discovered Northeast High-Grade Extension, with a defined 500-meter strike length that remains significantly underdrilled, with Asara now aggressively drilling the full extent.The company's shares fell 26% on market close.

ASX:AS1
Asia

Asara Resources Appoints Non-Executive Chair

Asara Resources (ASX:AS1) appointed Jeff Quartermaine as non-executive chair, effective immediately, according to a Tuesday Australian bourse filing.Quartermaine will succeed Brett Montgomery, who will transition into the role of non-executive director, the filing said.Quartermaine most recently served as chief executive of Perseus Mining (ASX:PRU), the filing added.

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