Asara Resources Says Drilling At Guinea Deposit Confirms Continuation Of High-Grade Structural Corridor, Shares Jump 8%

Asara Resources (ASX:AS1) said results from the drilling programs at the Massan deposit mineral resource estimate area at its Kada gold project in Guinea confirmed the continuation of a high-grade structural corridor, according to a Friday Australian bourse filing.

The phase two inferred extension program delivered a result of 54 meters at 2.3 grams-per-tonnes (g/t) grade of gold from 42 meters. Meanwhile, its phase one drilling program encountered an intercept of 37 meters at 1.0 g/t grade of gold from surface.

The phase two drilling supports the addition of further high-priority drillholes to the phase one indicated conversion program, targeting the potential conversion of high-grade extension for future consideration into indicated mineral resources.

Its shares jumped 8% in recent trading on Friday, reaching a four-year peak.