The Conversation (0)
Sort by
Asara Resources Limited (ASX: AS1; Asara or Company) is pleased to announce that it has recommenced exploration activities at its flagship asset, the Kada Gold Project in Guinea (Kada).
HIGHLIGHTS
- Relogging of core samples.
- Drone survey to identify additional mineralisation recently undertaken.
- Geological and structural mapping of new drone imagery and fieldwork.
- Planning for the commencement of a drill program in early 2025 to upgrade the existing Mineral Resource Estimate.
- Community engagement to strengthen relationships with local communities.
- Preparation for commencement of environmental studies.
Managing Director, Tim Strong commented:
“We are excited to recommence work at Kada following a pause in field activities throughout 2024. Our team is back on the ground, refurbishing camp facilities, re-logging core samples, undertaking geological and structure mapping in the Massan area and establishing important community relationships. In addition, we have deployed a drone to assist in determining the structural orientation of historical work undertaken and identify potential areas of gold mineralisation that may not have been previously recognised.
Looking ahead, we expect drilling to begin in the March quarter of 2025. The drilling program will focus on upgrading portions of the Massan Mineral Resource to the Measured category, as well as testing additional structures that are not currently included in the Mineral Resource Estimate.’’
KADA GOLD PROJECT
Exploration Activities
Activities at Kada recommenced during October with the installation of a new water borehole and a 10,000 litre capacity water tower at the Niandankoro Camp. All camp areas were connected to the new water system providing running water throughout.
The camp has undergone a detailed inventory, and store areas have been prepared in readiness for the commencement of fieldwork and then drilling.
Figure 1: Niandankoro Camp
Figure 2: Geology stores and RC chip storage
Figure 3: New drone imagery of Massan showing structure and geologists inspecting areas of mineralisation
Geological and structural mapping of the workings have commenced. This is a combination of desktop interpretation of recent drone imagery and fieldwork.
Figure 4: Fieldwork at the Massan deposit
Figure 5: Weather station installed at Niandankoro Camp and meetings with local dignitaries and community leaders
Community and Environment
The Company recognises the importance of engaging the local community, strengthening working relationships and to share information and understand local expectations and resolve any issues as and when they arise. To that end, work has commenced to establish social and environmental baselines. Over the last month, meetings were held with Company representatives, local elders, the Mayor of Niandankoro and Sous-Prefet which were beneficial and greatly appreciated by all attendees.
A weather station has been installed at Asara’s Niandankoro Camp giving vital baseline data for the environmental studies that will commence in 2025.
Burkina Faso
As announced on July 14, 2024, the Company entered into a binding Share Purchase Agreement (SPA) with Bic West Africa Limited (BIC) for the sale of its non-core Kouri and Babonga gold projects for total consideration of US$2.2m cash. The Company is continuing to work towards satisfying the Conditions Precedent outlined in the SPA, having recently obtained approval from the Tax Office with approval of the transaction by the Minister of Mines the final step. Following approval from the Tax Office, BIC made an advance payment of US$550,000 (against the final Completion Payment of US$1.1m). It is expected that the final payment of US$550,000 will be made by BIC once the Mininter of Mines has approved the transaction. It is expected that this approval will be obtained by the end of the December 2024 quarter.
Click here for the full ASX Release
This article includes content from Asara Resources Limited, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
Grande Portage Resources
Investment Insight
With an established mineral resource and further significant exploration upside, the New Amalga gold project presents substantial opportunities for Grande Portage to advance the project, generate cash flow, and create shareholder value. The company’s ongoing exploration efforts and strategic partnerships enhance the potential for long-term growth and value appreciation.
Overview
Grande Portage Resources (TSXV:GPG,OTCQB:GPTRF,FSE:GPB) is a junior resource company focused on the exploration and development of its high-grade gold asset in southeast Alaska. The company’s flagship project, the New Amalga Gold project (formerly known as the Herbert Gold project), is located approximately 25 kilometers north of Juneau, within the prolific Juneau Gold Belt.
This historic 160-kilometer-long belt has yielded nearly eight million ounces of gold to date, and New Amalga represents one of the most prospective undeveloped gold systems in the region. The rebranding from Herbert Gold to New Amalga Gold reflects the company’s commitment to advancing and expanding its exploration and development efforts in this promising district.
Over the years, Grand Portage has significantly expanded its resource base through extensive exploration and drilling campaigns. The current mineral resource estimate, published in June 2024, outlines an indicated resource of 1.44 million ounces of gold at an average grade of 9.47 grams per ton (g/t) gold, and an inferred resource of 515,700 ounces at an average grade of 8.85 g/t gold. Additionally, the project hosts significant silver mineralization, with indicated resources of 891,600 ounces at 5.86 g/t silver and inferred resources of 390,600 ounces at 7.33 g/t silver. The deposit has demonstrated exceptional metallurgical recoveries of up to 98.2 percent, reinforcing its economic viability.
Grande Portage is led by an experienced management team with a strong background in exploration and project development. The team’s focus is on creating shareholder value through the advancement of the Herbert Gold Project while maintaining a commitment to environmental and community responsibilities.
Company Highlights
- Grande Portage Resources is a junior resource company advancing its high-grade New Amalga Gold project, located in a prolific gold belt in SE Alaska.
- Strong management team led by Ian Klassen who has 30 years’ experience in business management, public relations and government affairs, and Kyle Mehalek, former chief mining engineer at Hecla Mining’s Greens Creek Mine.
- The flagship New Amalga Gold project, located near Juneau, Alaska, boasts a measured and indicated resource of 1.44 million ounces at 9.47 g/t gold, and inferred resource of 515,700 ounces at 8.85 g/t gold.
Key Project
New Amalga Gold Project
The New Amalga Gold project (formerly, Herbert Gold project) is a high-grade mesothermal quartz vein system containing six or more known parallel gold-bearing vein structures. The project consists of 91 unpatented lode claims covering approximately 2,000 acres.
Grande Portage has completed extensive drilling campaigns, with more than 54,000 meters of diamond drilling across 240 drill holes from 55 platforms, confirming a large, structurally complex gold-quartz system. The deposit remains open at depth and along strike, highlighting strong potential for further resource expansion. Historical production in the broader district, including previous operations at the historic Amalga Mine, has demonstrated the potential for high-grade ore shoots. Modern exploration drilling has intersected robust mineralization in multiple vein structures, supporting the project's continued development.
Primary veins with geology
Grande Portage is committed to responsible mining practices that minimize environmental impact. The company prioritizes low-impact mining methods and is exploring off-site processing solutions to align with community concerns regarding environmental preservation in the Juneau area.
The company has filed its 2025 Plan of Operation, proposing up to 10,000 meters of diamond drilling, along with detailed geological mapping and trench sampling. These initiatives aim to expand the known mineralization, refine geological modeling, and identify new high-priority targets. To further optimize project economics, the company is advancing sensor-based ore sorting testwork to improve processing efficiency.
Additionally, a Letter of Intent has been signed with Goldbelt, Juneau’s Alaska Native Corporation, to explore strategic collaborations that could enhance the project’s development and operational sustainability.
Management Team
Ian Klassen – President and Director
Ian Klassen brings almost 30 years experience in business management, public relations, government affairs and entrepreneurship to the company. He has extensive experience in the administration of public companies, government policy, media relations strategies, business/government project management, and legislative decision-making. Klassen is an (Honours) B.A. graduate from Western University and is a recipient of the Commemorative Medal for the 125th Anniversary of the Confederation of Canada, in recognition of his significant contribution to his community and country.
Kyle Mehalek – Lead Mine Planning Consultant
Kyle Mehalek is the lead consultant at OreLogic, providing underground mine planning and project development services. Mehalek is the former chief mining engineer of Hecla Mining Company’s (NYSE:HL) Greens Creek Mine. More recently he was the chief technical officer for Talon Metals, a TSX-listed company advancing the Tamarack nickel project in Minnesota.
Michele Pillon – Chief Financial Officer
Michele Pillon has 25 years of experience in the junior mining exploration sector, providing accounting and regulatory assistance to public companies. Since May 1988, she has worked as an accountant to public companies in the resource sector.
Carl Hale – Director of Exploration
Carl Hale received his Bachelor of Science degree in geology from the University of Washington in 1972. He has worked the majority of his career on mineral exploration projects in Alaska and the Pacific Northwest for various mining companies and consulting groups. He supervised massive sulfide exploration projects in the Brooks Range, Alaska, mineral reconnaissance programs in the Alaska Range and Southeast Alaska, and is presently the project manager on a gold exploration venture in the United States. Mr. Hale spent several years as a mine geologist at the Cannon Mine, a large gold mine in Wenatchee, Washington, as a geologist at the Sunshine silver mine in Idaho, managed a copper exploration project at Bornite, Alaska for three years for Kennecott and served as a geologist on a gold exploration project in Myanmar.
Alistair MacLennan – Director
Alistair MacLennan has been working in the junior resources sector (oil/gas/minerals), in various capacities, for over 30 years. He has gained industry knowledge through founding, investment in and serving on the boards of a number of public and private exploration companies. MacLennan is also the chairman and director of Helijet International, a helicopter airline operating a fleet of Sikorsky S76 helicopters throughout the Pacific Northwest since 1986. MacLennan is actively involved in a number of private companies which are involved in leasing, manufacturing and natural gas production.
Ronald Handford – Director
Ronald Handford is a professional engineer (non-practicing) and is president of Handford Management, a private management services company. He has been a senior executive of Sixty North Gold Mining since September 2016. He was formerly the executive vice-president, corporate development for Yellowhead Mining. Handford holds a Master of Business Administration degree from Western University (1979) and a Bachelor of Applied Science in Civil Engineering from the University of British Columbia (1974). He has over 20 years of international experience as a mining and technology entrepreneur, executive and advisor, plus 15 years as an international mining project finance and corporate banker, including Barclays Bank and the International Finance Corporation; and six years as an engineer/project manager related to mining and resource projects.
Douglas A. Perkins – Director
Douglas Perkins is a geology graduate from the University of British Columbia. Perkins has served on public company boards for over 25 years involving the promotion and representation of their geological properties. He has been involved in several start-ups of both public and private companies not only geological but including manufacturing, wholesale and developmental industries. From an exploration standpoint, Perkins has worked on the Gataga Trend for Cyprus Anvil, where several multi-million-ton deposits were discovered. He also worked for UTAH, UMEX, Cominco and oversaw Freeport/ Stryker's exploration project in northern BC near the Windy Craggy deposit. Perkins has tropical experience in the jungle of the Darien Gap in Panama during 1988 to 1989. For the last two years he has been senior vice-president and director of GMV Minerals in Guyana South America.
Gold Price Hits New Record, Breaking US$2,975 for First Time
Gold price chart, March 6 to 13, 2025.
Chart via the Investing News Network.
These releases come as trade tensions between the US and other countries ramp up.
Tempers flared when Ontario Premier Doug Ford imposed a 25 percent surcharge on electricity exports to the US on Tuesday (March 11). Although the charges were withdrawn after the two sides agreed to meet in Washington on Thursday, there is still much uncertainty about Canada-US relations, as well as US relations globally.
Broad 25 percent tariffs on all steel and aluminum imports to the US went into effect on Wednesday. Canada quickly applied retaliatory tariffs on US$20 billion worth of goods, while the EU responded with tariffs on US$28 billion worth of goods. Trump had threatened to boost the tariffs on Canadian steel and aluminum to 50 percent, but backed down for now after Ford withdrew the 25 percent electricity surcharge.
Trump has also said he will impose further tariffs on auto imports by April 2, creating significant uncertainty for manufacturers and businesses that rely on cross-border trade.
Don't forget to follow us @INN_Resource for real-time updates!
Securities Disclosure: I, Dean Belder, hold no direct investment interest in any company mentioned in this article.
