Asara Resources (ASX:AS1) intersected "significant" oxide gold mineralization during its maiden drilling program at the Sogosogoba target, within the company's Kada project in Guinea, according to a Friday filing with the Australian bourse.
Drilling returned 38 meters at 2.1 grams per tonne (g/t) grade of gold, including 2 meters at 3.2 g/t grade of gold from 48 meters, and 5 meters at 6.1 g/t grade of gold from 57 meters, the filing said.
Drilling will continue to test the extent of the mineralized system at the target, per the filing.
Shares fell past 8% in afternoon trade Friday.
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