Massan Resource infill and expansion drilling yields 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 (totaling 2,455 m) from the Phase 1 Reverse Circulation (RC) drilling program within the Massan deposit Mineral Resource Estimate (MRE) area at the flagship Kada Gold Project (Kada) in Guinea.

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HIGHLIGHTS

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

Additional RC drill results confirm high-quality continuity at Massan Prospect

The company is pleased to announce the receipt of test results from an additional eleven RC boreholes, totaling 2,455 meters, completed at the Massan project (Figure 1 and Figure 2). This phase of drilling is strategically designed to both complement the existing drilling data set by improving geological confidence in the mineralized zones to a vertical depth of ~150 meters, and to test the depth extensions of the deposit downslope beyond previously defined depth limits (Figure 3 and Figure 4).

As with the previous set of test results reported in September, this set of test results from the drill holes drilled in the central part of the Massan deposit has again produced significant mineralized intersections, reinforcing the continuity and robustness of mineralization within the core zone and validating the accuracy of the geological model on which the drill hole planning is based.

Matt Sharples, CEO of Asara, commented:

“The latest set of test results from the Phase 1 drill program at the Massan deposit in Kada are very encouraging. Not only do they confirm the breadth and longevity of the expected grades, but most importantly, the intercepts were found exactly where predicted. This validates the accuracy of our geological model, strengthens our understanding of the gold genesis and makes our exploration activities less risky. This increases our success rate and continues to reduce our $/oz discovery costs at a deposit that continues to grow in size.

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

Drilling activity at Massan will increase with the upcoming arrival of Sahara Resources’ AC/RC platform, which will undertake a strike expansion drilling campaign intended to confirm the extent of the Massan deposit along the strike, north and south, and potentially grow the inferred mineral resource component of the Kada project.

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