Haranga Resources has wrapped up its underground drilling at the Lincoln Gold Project, delivering standout high-grade assays and setting the stage for a maiden JORC Mineral Resource Estimate next week.
- Final assays include up to 84.7 g/t gold intercept
- 3,237m HQ diamond drilling program completed underground
- Maiden JORC-compliant Mineral Resource Estimate due imminently
- Project supported by ~$90m prior infrastructure investment
- Additional drilling and exploration targets planned for 2026
High-Grade Gold Assays Validate Lincoln Project Potential
Haranga Resources (ASX:HAR) has delivered a strong finish to its 3,237.2-metre underground HQ diamond drilling campaign at the Lincoln Gold Project in California, with final assays confirming multiple high-grade gold intercepts. Highlights include a blistering 0.4-metre intercept grading 84.7 g/t Au, alongside several other zones exceeding 10 g/t Au, underscoring the quality of mineralisation that has long been associated with the historic Mother Lode belt.
These assay results are pivotal for Haranga as they underpin the imminent release of the Project’s maiden JORC-compliant Mineral Resource Estimate (MRE) for Lincoln-Comet and Medean, expected next week. The new JORC resource will convert the existing non-compliant NI 43-101 estimate of approximately 286,000 ounces at 9.29 g/t Au, providing a more robust and market-recognised valuation framework for the asset.
Drilling Completes Validation and Adds Spatial Coverage
The drilling program, conducted primarily from underground decline positions, was designed to define true widths, structural geometry, and grade continuity of the mineralised lodes. It also aimed to validate historical data and extend coverage into peripheral zones. Forty-four drill holes were completed, with the final batch confirming expectations of high-grade continuity and smoothing out previous assay variability through improved sampling protocols.
Importantly, Haranga has incorporated a rigorous quality assurance approach, including plans to replicate significant assay intervals using Chrysos PhotonAssay™ technology, which has demonstrated exceptional correlation with screen fire assays at Lincoln. This technique could provide a more accurate representation of gold distribution, especially in coarse gold environments typical of the Mother Lode belt.
Infrastructure and Cash Position Support Development Pathway
The Lincoln Gold Project benefits from substantial prior capital investment estimated at around $90 million, including a 315 ktpa processing plant, an 880-metre underground decline, and approximately 900 metres of development drives. Key mining permits are in place, positioning Haranga well for potential near-term development following the resource upgrade.
As of the March 2026 quarter, the company holds $9.3 million in cash, providing a solid financial foundation to advance exploration and development activities. The company’s chairman, Michael Davy, emphasised the significance of these results in confirming the quality of the Project and expressed optimism about upcoming milestones, including the JORC resource release and further exploration updates.
Exploration Targets and Growth Opportunities on the Horizon
Beyond the maiden JORC resource, Haranga has outlined additional growth avenues. The Medean Exploration Target, adjacent to Lincoln-Comet, is scheduled for announcement next week, potentially adding inferred resources to the project’s inventory. Further deep and targeted drilling is planned for July, with additional exploration targets expected in the second half of 2026.
These efforts build on the recent delineation of the South Spring Hill Exploration Target, which estimates between 202,000 and 308,000 ounces of gold, highlighting the broader district-scale potential of the Lincoln Gold Project. The company’s integrated approach of resource conversion, expansion drilling, and exploration targeting reflects a methodical strategy to unlock value across the project’s mineralised system.
Haranga’s Lincoln drilling campaign and resource update follow closely on the heels of the company’s broader exploration momentum, including its active programs at Senegal’s Ibel South Gold Project, where a 4,000-metre reverse circulation drilling campaign is underway targeting high-grade extensions along a largely untested corridor. This multi-asset activity signals a busy period for Haranga as it advances its portfolio across continents.
With the maiden JORC Mineral Resource Estimate for Lincoln-Comet and Medean imminent, investors will be keen to scrutinise the classification categories, grade distribution, and cut-off grades applied, all of which will shape the project’s economic profile and development potential. The extent to which the company can convert inferred resources to higher confidence categories through ongoing drilling will also be a critical factor in the coming months.
Bottom Line?
Haranga’s final assays confirm high-grade continuity at Lincoln, setting the stage for a critical JORC resource release that will clarify the project’s commercial scope and guide upcoming exploration priorities.
Questions in the middle?
- How will the maiden JORC resource grade and classification compare to the existing NI 43-101 estimate?
- What impact will the application of multiple cut-off grades have on the reported resource size and grade?
- To what extent can Haranga convert inferred resources to indicated or measured categories with planned drilling?