Haranga Unveils 308,000oz Target and Advances Drilling at Lincoln and Ibel South

Significant Exploration Target at South Spring Hill

Haranga Resources (ASX:HAR) has unveiled a compelling Exploration Target at its South Spring Hill prospect within the Lincoln Gold Project in California, estimating between 202,000 and 308,000 ounces of gold at grades ranging from 5.4g/t to 5.8g/t Au. This target, spanning 1.16 to 1.64 million tonnes, highlights the potential for resource expansion well beyond the existing 2015 NI 43-101 non-JORC resource of approximately 286,000 ounces at 9.29g/t Au. The South Spring Hill target sits within a package of owned and leased claims that benefit from underground access and a conditional use permit allowing production, supported by infrastructure including a 315ktpa processing plant and nearly 1.8km of underground development.

The Exploration Target follows an independent assessment by Odessa Resources and underscores the broader scale opportunity across the Lincoln Gold Project’s 6km strike length. Historic mining at South Spring Hill produced an estimated 94,600 ounces at roughly 6.6g/t Au, adding context to the target’s potential. Haranga plans further surface and underground drilling over the next two years to test and refine this target, aiming to convert it into a JORC-compliant resource.

Deep Drilling Reveals Possible Mineralisation Repetitions

Post-quarter drilling highlights include two deep diamond holes, DDH0280 and DDH0281, drilled from underground crosscut XC7, which have intercepted alteration, silicification, veining, and sulfide mineralisation over 150 metres below the current workings. These zones, visually identified between 144.5m and 176.6m downhole, suggest the presence of mineralisation repetitions beneath the Lincoln-Comet section of the resource. While assay results are pending, these findings bolster the case for further deep drilling to delineate extensions.

The ongoing dewatering of the Stringbean Alley decline has now reached XC8, unlocking access for additional drilling in this area, with plans to continue dewatering to XC11 to support further exploration. The underground diamond drilling program, expanded to 40 holes for over 3,200 metres, aims to underpin a maiden JORC Mineral Resource Estimate (MRE) for Lincoln-Comet and Medean deposits, expected imminently. This drilling campaign builds on approximately $90 million of prior capital investment, including critical infrastructure and permits.

Haranga’s use of Chrysos PhotonAssay™ technology has validated historical assay methods, confirming high-grade mineralisation with assay results closely matching screen fire values. This analytical confidence supports the robustness of the resource data, a vital step as the company seeks to upgrade its resource classification.

Ibel South Drilling Campaign Targets Gold Extensions

Meanwhile, in Senegal, Haranga has mobilised a 4,000-metre Phase 3 Reverse Circulation (RC) drilling program at the Ibel South Gold Project, targeting down-dip extensions of high-grade gold mineralisation identified in earlier aircore drilling phases. The program focuses on TMS Anomaly 3, where a continuous mineralised trend exceeding 800 metres has been delineated, as well as untested TMS Anomalies 1 and 2. The campaign aims to improve structural understanding and test new geochemical anomalies, with drilling depths planned between 260m and 300m.

This drilling push complements the company’s broader exploration efforts and follows earlier high-grade intercepts, such as 20m at 6.00g/t Au and 12m at 6.12g/t Au from shallow drilling. The Phase 3 program’s initiation reflects Haranga’s commitment to unlocking the potential of its Senegalese assets alongside its US projects.

Corporate Developments and Leadership Transition

On the corporate front, Haranga maintains a solid cash position of $9.3 million, underpinning its active drilling and development programs. The company disclosed the resignation of Managing Director Peter Batten, who has led the company since September 2023, with Chairman Michael Davy stepping into an interim executive role to ensure continuity during this pivotal exploration phase. The board has commenced a search for a new Managing Director to guide the company through its transition from exploration to development.

In a strategic move reflecting its focus on the Lincoln Gold Project, the board approved a proposed name change to American West Gold Ltd, with the ASX ticker AWG reserved pending shareholder approval. This rebranding aligns with the company’s ambition to capitalise on its California-based assets and signals a sharpened corporate identity.

With assay results from key drill holes expected soon, alongside the maiden JORC Mineral Resource Estimate and further exploration targets slated for release in the coming months, Haranga is positioning itself for a critical growth phase. The company’s dual focus on resource definition at Lincoln and aggressive drilling at Ibel South illustrates a balanced approach to advancing its portfolio.

As the company navigates leadership changes and steps towards resource certification, the market will be watching how these developments translate into tangible asset growth and project advancement.