Highlights

• Asara reports a 125% increase in the Kada gold mineral resource to 2.08 million ounces.

• Indicated resources rise to 1.27 million ounces, representing approximately 61% of contained gold.

• The company completes 241 exploration drill holes for 33,223 metres during the September quarter.

• Definitive feasibility study work continues, with completion targeted by the end of Q2 2027.

A major resource revision has changed the numbers underpinning the Kada Gold Project in Guinea. Asara Resources Limited (ASX:AS1) reported a September-quarter increase in Kada’s mineral resource to 2.08 million ounces of gold, alongside continued drilling and technical activities for a definitive feasibility study. The updated estimate is a project planning milestone, not a final development decision.

How Much Did the Kada Resource Grow?

The interim mineral resource estimate reached 92.9 million tonnes at 0.70 grams per tonne gold for 2.08 million contained ounces, a 125% increase from the October 2023 estimate. That represents an additional 1.16 million ounces. The estimated free-dig oxide resource increased from 12.4 million tonnes to 35.8 million tonnes. Kada comprises the Massan and Bereko deposits within Guinea’s Siguiri Basin, and the updated mineral resource reflects the resource-definition work undertaken at the project.

What Changed in Resource Confidence?

Indicated mineral resources rose by more than 600% to 51.4 million tonnes grading 0.77 grams per tonne gold, containing 1.27 million ounces. This category now accounts for roughly 61% of total contained gold in the estimate. The enlarged Indicated component is intended to support the company’s definitive feasibility study. Resource classifications indicate different levels of geological confidence; neither the total resource nor the Indicated subset should be described as an ore reserve without a corresponding reserve declaration.

How Extensive Was Quarterly Drilling?

During the September 2026 quarter, Asara completed 241 exploration holes for 33,223 metres at Massan. That programme comprised 109 reverse-circulation holes, 128 air-core holes, two reverse-circulation diamond holes and two diamond holes. Work addressed Indicated resource conversion and potential growth in Inferred resources. Separately, the company advanced the Acquisition of the Damissa Koura and Kankan West exploration permits, which would expand its regional holding to approximately 301 square kilometres.

What Is the Next Kada Milestone?

Fieldwork and specialist technical studies for the definitive feasibility study continued following the interim resource update. Asara is targeting study completion by the end of the second quarter of calendar 2027. The company also entered a binding agreement to divest the non-core Paguanta copper and silver-lead-zinc project for consideration of up to US$1.4 million, consistent with its stated focus on Kada. The next reported study and exploration results will determine how the expanded mineral resource is incorporated into development assessments.

What Comes Next?

The enlarged Kada resource, increased Indicated component and continued drilling are being brought together with the definitive feasibility study process. Asara’s regional landholding and the proposed disposal of a non-core project also feature in its stated focus on Guinea. The next major timetable item is completion of the DFS targeted for Q2 2027. The September-quarter update does not itself constitute a final Investment decision or establish commercial production at Kada.