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An announcement from Golden Rim Resources Ltd ( (AU:AS1) ) is now available.
Asara Resources has reported a second tranche of assay results from 16 reverse circulation and diamond drill holes totalling 3,593 metres at the Massan deposit within its Kada Gold Project in Guinea, with broad and continuous gold intercepts that bolster confidence in the existing geological model. The latest drilling has focused on infill and down-dip extension work within and below the current US$1,800/oz pit shell, confirming mineralisation at depth in fresh rock and supporting the conversion of Inferred Resources to Indicated, while a newly commenced Phase 2 program is testing strike extensions to the north and south to grow the overall resource footprint, potentially enhancing the project’s scale and attractiveness for investors and development partners.
The most recent analyst rating on (AU:AS1) stock is a Hold with a A$0.10 price target. To see the full list of analyst forecasts on Golden Rim Resources Ltd stock, see the AU:AS1 Stock Forecast page.
More about Golden Rim Resources Ltd
Asara Resources Limited is a West African-focused gold exploration company listed on the ASX, with its flagship Kada Gold Project in Guinea. The company is targeting the Massan deposit within Kada, where it is working to delineate and upgrade its Mineral Resource Estimate through systematic reverse circulation and diamond drilling aimed at expanding and de-risking its resource base.
Average Trading Volume: 2,201,107
Technical Sentiment Signal: Hold
Current Market Cap: A$158.7M
For a thorough assessment of AS1 stock, go to TipRanks’ Stock Analysis page.