Massan Resource Infill and Extension Drilling Delivers More Positive Results

West African gold explorer Asara Resources Limited (ASX: AS1; Asara or Company) is pleased to announce the second set of results from 11 drill holes (totalling 2,455m) from the Phase 1 Reverse Circulation (RC) drilling program within the Massan deposit Mineral Resource Estimate (MRE) area at its flagship Kada Gold Project (Kada) in Guinea.

HIGHLIGHTS

• Drilling to date has focused on increasing geological confidence and on extending the down-dip mineralisation envelope at the Massan deposit within the Kada project.
• The latest results demonstrate continuity between drillholes across the remaining Inferred areas, reinforcing confidence in the geological model and confirming consistent, broad zones of mineralisation.
• Depth-extension drilling beyond the US$1,800/oz pit shell confirms that mineralisation continues at depth, returning robust gold intersections within fresh rock and identifying new zones of deeper mineralisation.
• Phase 2 drilling will target strike extensions to the north and south to further grow the resource footprint.
• Notable gold intersections from the assays received for the most recent eleven drillholes include:
  • MSRC25-014: 55m @ 1.0 g/t gold from 17m. Including,
    7m @ 3.1 g/t gold from 28m.
    12m @ 1.35 g/t gold from 239m. Including,
    5m @ 2.3 g/t gold from 244m.
  • MSRC25-015: 26m @ 0.9 g/t gold from 121m.
  • MSRC25-016: 7m @ 1.4 g/t gold from 143m.
    18m @ 1.1 g/t gold from 154m. Including,
    5m @ 2.0 g/t gold from 146m.
  • MSRC25-017: 23m @ 1.2g/t gold from 64m. Including,
    6m @ 3.8 g/t gold from 64m.
  • MSRC25-018: 12m @ 3.0g/t gold from 22m. Including,
    7m @ 4.1 g/t gold from 26m.
    18m @ 1.0g/t gold from 221m. Including,
    6m @ 2.0 g/t gold from 227m.
    6m @ 2.0g/t gold from 282m.
  • MSRC25-019: 1m @ 20.8g/t gold from 21m. 90m @ 1.0g/t gold from 226m. Including,
    9m @ 1.8 g/t gold from 234m; and
    10m @ 3.0 g/t gold from 301m.
  • MSRC25-020: 5m @ 2.9g/t gold from 6m.
    13m @ 2.1g/t gold from 29m. Including,
    4m @ 4.8 g/t gold from 35m.
    30m @ 1.9g/t gold from 109m. Including,
    16m @ 3.0 g/t gold from 118m.
    20m @ 2.3g/t gold from 144m. Including,
    9m @ 4.1 g/t gold from 144m.
  • MSRC25-021: 57m @ 1.2g/t gold from 3m. Including,
    12m @ 2.0 g/t gold from 12m.
  • 41m @ 0.7g/t gold from 64m.
  • MSRC25-023: 33m @ 0.5 g/t gold from 41m.
  • MSRC25-023B: 8m @ 0.7 g/t gold from 0m.
  • MSRC25-024: 19m @ 1.5 g/t gold from 0m. Including,
    8m @ 2.1 g/t gold from 0m.
    56m @ 0.7 g/t gold from 23m.
    10m @ 1.3 g/t gold from 156m. Including,
    5m @ 2.2 g/t gold from 156m.

Additional RC Drilling Results Confirm High-Grade Continuity at Massan Prospect

The Company is pleased to announce the receipt of assay results from a further eleven RC drill holes, totalling 2,455 metres, completed at the Massan prospect (Figure 1 and Figure 2). This phase of drilling has been strategically designed to both infill the existing drilling dataset by improving geological confidence in the mineralised zones to a vertical depth of ~150 metres, and to test the down-dip depth extensions of the deposit beyond previously defined depth limits (Figure 3 and Figure 4).

As with the previous set of assay results reported in September, this batch of assay results from the drill holes drilled within the central portion of the Massan deposit has again returned significant mineralised intersections, reinforcing the continuity and robustness of the mineralisation within the core zone and validating the accuracy of the geological model against which drillhole planning has been based.

Matt Sharples, CEO of Asara, commented:

“The latest batch of assay results from the Phase 1 drilling program at the Massan deposit at Kada is highly encouraging. Not only do they confirm the widths and tenures of the expected grades, but most importantly, the intercepts were encountered exactly where predicted. This validates the accuracy of our geological model, strengthens our understanding of the genesis of the gold and derisks our exploration targeting. This enhances our success rate and continues to lower our $/oz discovery cost at a deposit which continues to grow in scale.

Both the reported depth-extension results and the near-surface infill drilling have validated our targeting and underscore the scale of Massan. We will continue to refine and update our drill plan, and we look forward to receiving the next batch of assays, which will further guide and shape our near-term exploration strategy to increase geological confidence and confirm depth extensions.

Drilling activity at Massan is due to ramp up with the imminent arrival of the Sahara Resources AC/RC rig, which will undertake a strike extension drilling campaign, designed to confirm the scale of the Massan deposit along strike, north and south, and potentially grow the Inferred Mineral Resource component of the Kada Project.”

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