Reach Resources Limited (ASX:RR1) Confirms Initial Assay Results Impact Securities
Material Impact of Initial Assay Results
Reach Resources Limited (ASX:RR1) has confirmed that the initial assay results from the first two drill holes at its Murchison South Gold Project are expected to have a material effect on the price or value of its securities. The company assessed these initial results as significant, given they are part of a larger program of 14 drill holes designed to verify the development model and previous findings.
Assay Results Timeline
The first batch of assay results was received on 6 February 2025 and reviewed by the exploration manager starting the week of 10 February 2025. The CEO received the raw data on 12 February 2025, anticipating the remaining results to be available by the week commencing 24 February 2025. Reach Resources opted to release the initial two results on 17 February 2025 to avoid misleading the market before all results were available.
ASX Listing Rules Compliance
The company confirmed its compliance with ASX Listing Rules, particularly Listing Rule 3.1. Reach Resources decided not to disclose the initial two assay results separately to prevent potential market misinterpretation, adhering to the JORC Code requirements. The responses provided to ASX have been authorised and approved by the Board, ensuring adherence to continuous disclosure policies.
Motley Fool contributor Lianne Eastty has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
This article was generated using GPT-4o mini, a Large Language Model (LLM), to generate summaries of investing news. While AI is generating the content, we know better than to blindly trust our future robot overlords, and every article is edited and fact-checked by an editor holding the appropriate credentials. The Motley Fool Australia stands behind the work of our editorial team and takes ultimate responsibility for the content of everything published by The Capital Club.