Lincoln Gold Project Drilling Set for 2,200m to Deliver JORC Resource by January

Operational Progress at Lincoln Gold Project

Haranga Resources Limited (ASX, HAR) has provided a detailed update on its Lincoln Gold Project in California, highlighting steady advancement in dewatering activities within the Stringbean Alley Decline. This critical step has now reached the first underground drill position, enabling the company to prepare for a substantial diamond drilling campaign aimed at upgrading the project’s historical resource estimate.

The dewatering process, essential for accessing underground drill sites, is proceeding at the maximum permitted rate of approximately 220 metric tonnes per day. This careful management ensures environmental compliance, particularly with arsenic removal standards, while clearing sequential crosscuts within the decline to facilitate drilling operations.

Upcoming Drilling Program and Resource Upgrade

Scheduled for the latter half of November, Haranga plans to mobilise a Swick Gen II diamond drill rig to undertake a program of roughly 2,200 metres across 21 holes. The drilling contract allows for flexibility up to 3,000 metres pending board approval, reflecting the company’s intent to optimise drill locations as dewatering progresses.

The primary objective of this drilling campaign is to convert the existing historical NI 43-101 mineral resource estimate; currently standing at approximately 286,000 ounces of gold; into a JORC-compliant resource by January 2026. Achieving this milestone is pivotal for advancing the Lincoln project towards development and potential production.

Infrastructure Enhancements Support Development

In parallel with dewatering and drilling preparations, Haranga is completing essential upgrades to the underground electrical system. These enhancements address voltage drop issues at depth and include the installation of new switchgear and a refurbished mobile power centre. This infrastructure is critical to support both dewatering pumps and the diamond drilling rig, ensuring operational reliability as the project moves forward.

The Lincoln Gold Project benefits from significant prior capital investment estimated at around $90 million, including a processing plant with a 315,000 tonnes per annum capacity, nearly 1,800 metres of underground development, and key permits such as the Conditional Use Permit. This foundation positions Haranga to pursue a capital-efficient development pathway leveraging existing infrastructure.

Strategic Positioning and Outlook

Managing Director Peter Batten emphasised the unique advantage Haranga holds by stepping into an existing decline with direct access to a high-grade gold system. The company’s strategy to rapidly convert historical data into a JORC resource and advance underground drilling underscores its commitment to unlocking value at Lincoln.

With drilling imminent and infrastructure upgrades nearing completion, Haranga is poised to deliver critical data that will shape the project’s next phase. Investors and analysts will be watching closely for the outcomes of this drilling campaign and the subsequent resource update early next year.