Ibel South Yields 32.09 g/t Gold in Single Metre Assays, Follow-Up Drilling Imminent

• Single metre assays confirm and enhance previous composite gold results
• Notable intercepts include 1m at 32.09 g/t and 1m at 28.93 g/t Au
• Mineralisation remains open in all directions, including depth
• Planned 3,000m follow-up aircore drilling pending local approvals
• Broader portfolio includes Saraya Uranium Project and Lincoln Gold acquisition

Confirming High-Grade Potential

Haranga Resources Limited (ASX – HAR) has released compelling assay results from its recent aircore drilling campaign at the Ibel South Gold Project in southeastern Senegal. The detailed single metre assays have not only confirmed but enhanced the high-grade gold mineralisation previously reported from composite samples. These results underscore the project's potential as a significant gold discovery within a prolific West African gold province.

Among the standout intercepts are a 1-metre sample grading 32.09 grams per tonne (g/t) gold from 9 metres depth, and another 1-metre intercept at 28.93 g/t from 23 metres. Other notable intervals include 20 metres at 6.0 g/t from 12 metres, with a 4-metre section hitting 14.1 g/t, and 12 metres at 6.12 g/t from 42 metres, where the hole ended in mineralisation. These figures highlight both the grade and continuity of the mineralised zones.

Geological Context and Exploration Strategy

The mineralisation at Ibel South is hosted within Birimian-aged volcano-sedimentary and sedimentary rocks, structurally controlled along major shear zones. The drilling has targeted a corridor trending approximately N15°E, with mineralisation interpreted as subvertical. While the true widths of mineralised zones remain to be confirmed, the open-ended nature of the mineralisation in all directions; including at depth; suggests substantial exploration upside.

Haranga’s Managing Director, Peter Batten, emphasised the significance of these results, noting that the single metre assays refine the understanding of the mineralised shoots and confirm the shallow, high-grade nature of the deposit. He also highlighted the upcoming 3,000-metre aircore drilling program planned for late October, contingent on the end of the rainy season and receipt of community approvals. This program aims to infill between known intercepts, extend mineralised trends north and south, and test other high-priority termite mound geochemical anomalies that were previously inaccessible.

Broader Company Portfolio and Outlook

Beyond Ibel South, Haranga is advancing its Saraya Uranium Project in Senegal, which boasts a mineral resource of 14.5 million tonnes at 550 ppm eU3O8, containing 17.6 million pounds of uranium oxide. Additionally, the company recently acquired the Lincoln Gold Project in California, an advanced, high-grade gold asset with significant infrastructure and full mining permits. Haranga plans to initiate underground diamond drilling at Lincoln to support a maiden JORC resource estimate.

The confirmation of high-grade gold at Ibel South, combined with these strategic assets, positions Haranga as a multi-commodity explorer with promising growth avenues. The company’s methodical approach to exploration and resource definition is likely to attract investor attention as it progresses drilling and resource development activities.

Bottom Line?

Haranga’s robust assay results at Ibel South set the stage for a pivotal drilling phase that could redefine its gold resource potential.

Questions in the middle?

• What will the results of the upcoming 3,000m drilling program reveal about the extent and continuity of mineralisation?
• How soon can Haranga convert the Lincoln Gold Project’s foreign resource estimate into a JORC-compliant resource?
• What are the logistical and regulatory challenges Haranga might face in scaling up exploration in Senegal?