Ragnar Metals Unveils High-Grade Gold at Harnäs, Sets Stage for Q1 Drilling

Exploration Breakthrough in Sweden

Ragnar Metals Limited (ASX, RAG) has delivered a promising update from its Harnäs Gold Project in southwestern Sweden, confirming high-grade gold mineralisation through recent rock-chip sampling. Assays revealed gold concentrations reaching as high as 15.9 grams per tonne at the Harnäs Pit, alongside significant silver values at the nearby Silvergruvan Prospect. These results not only validate the project's potential but also highlight multiple high-grade shoots that could underpin future resource growth.

The Silvergruvan Prospect, located 2.4 kilometres southeast of Harnäs, emerged as a new high-priority target with assays up to 18.9 g/t gold and 17.7 g/t silver. This discovery broadens the scope of Ragnar’s exploration footprint in the region, suggesting further untapped mineralisation along strike.

Strategic Acquisition and Upcoming Drilling

In October 2025, Ragnar secured an exclusive option to acquire an initial 20% interest in the Harnäs Gold Project, with the potential to increase its stake to 75%. This binding agreement positions the company to take a controlling interest in a drill-ready, high-grade asset within a proven mining district. The company is now preparing for its maiden diamond drilling campaign scheduled for the first quarter of 2026, which will be critical to validating the promising surface and historic drill results.

Complementary exploration activities are underway, including the assaying of approximately 215 metres of historic percussion drilling that had not been previously sampled, and a high-resolution UAV magnetic survey to refine geological models. These efforts aim to delineate the extent of mineralisation and inform targeted drilling strategies.

Diversified Portfolio with Australian Gold Exposure

Beyond Sweden, Ragnar Metals continues to strengthen its portfolio through strategic investments in Australian gold producers. The company holds a significant shareholding in Kaiser Reef Limited (ASX, KAU), which reported production of 7,661 ounces of gold and generated $13.7 million in cash during the December quarter. Additionally, Ragnar is a substantial shareholder in High-Tech Metals Limited (ASX, HTM), which recently secured a $10.7 million capital injection to accelerate its Western Australian gold projects towards production.

These investments provide Ragnar with valuable leverage to both established gold production and advanced exploration plays, complementing its own exploration-led growth strategy. Executive Director Eddie King emphasised that this diversified approach positions Ragnar well to capitalise on the current robust gold market, driven by record global prices.

Looking Ahead

With multiple value drivers across Sweden and Australia, Ragnar Metals is poised for a pivotal year. The imminent drilling at Harnäs will be closely watched by investors eager to see if the high-grade surface results translate into a substantial resource. Meanwhile, the performance of its strategic investments will continue to underpin the company’s financial strength and growth prospects.