Haranga Secures Lincoln Gold Project, Eyes High-Grade Resource by Year-End

• Acquisition of Lincoln Gold Project finalized after thorough due diligence
• Historical drill results show exceptional high-grade gold assays
• Maiden drilling campaign planned for mid-September at Lincoln
• Potential to deliver JORC-compliant mineral resource estimate by end of 2025
• Concurrent exploration progress at Ibel South Gold Project with results expected soon

Acquisition Completion Marks a Strategic Milestone

Haranga Resources Limited (ASX, HAR) has officially completed the acquisition of the Lincoln Gold Project in California, a move that significantly bolsters the company’s gold exploration portfolio. This follows a rigorous technical, legal, and financial due diligence process, confirming the project’s high potential. The Lincoln Gold Project is notable for its rich historical resource estimates and existing infrastructure, positioning Haranga well for rapid advancement.

Exceptional Historical Assays Underpin Confidence

Key to the acquisition’s appeal were the outstanding results from historical drill core sampling, including intercepts such as 3.7 meters at 108 grams per tonne gold and individual samples reaching an extraordinary 304.5 grams per tonne. These figures, announced earlier in July, reinforce the project’s reputation as a high-grade gold asset and provide a strong foundation for Haranga’s upcoming exploration activities.

Maiden Drilling Campaign and Resource Ambitions

Haranga plans to initiate its maiden drilling campaign at Lincoln in mid-September, subject to preparatory works. The company aims to leverage this program to deliver a mineral resource estimate compliant with the Australasian JORC Code by the end of the year. Currently, the project holds a historical resource estimate under the Canadian NI 43-101 standard of approximately 286,000 ounces at 9.3 grams per tonne gold, which Haranga intends to validate and potentially upgrade.

Parallel Progress at Ibel South and Corporate Updates

Alongside Lincoln, Haranga is advancing its Ibel South Gold Project in Senegal, having completed a 2,000-meter maiden drill program in July with results expected imminently. This dual-track exploration approach highlights the company’s commitment to expanding its gold resource base. Additionally, the company announced the effective resignation of director Hendrik Schloemann, thanking him for his contributions.

Looking Ahead

Haranga’s acquisition and exploration activities reflect a strategic push to establish itself as a significant player in gold mining, complementing its uranium assets in Senegal. The upcoming drilling results and resource updates will be critical in shaping investor sentiment and the company’s growth trajectory.

Bottom Line?

Haranga’s Lincoln acquisition and imminent drilling set the stage for a pivotal resource update that could redefine its market standing.

Questions in the middle?

• Will Haranga successfully convert the Lincoln Gold Project’s NI 43-101 resource into a JORC-compliant estimate by year-end?
• How will the upcoming drill results from Lincoln and Ibel South influence Haranga’s valuation and development plans?
• What impact will the director resignation have on Haranga’s corporate governance and strategic direction?