Haranga Delivers 402koz Maiden JORC Resource at Lincoln Gold Project

Maiden JORC Resource Establishes Lincoln as High-Grade Gold Development

Haranga Resources (ASX:HAR) has crossed a pivotal milestone with the release of a maiden JORC Mineral Resource Estimate (MRE) at its 100% owned Lincoln Gold Project in California’s Mother Lode Belt. The resource totals 2.46 million tonnes at a robust 5.1 grams per tonne gold grade, equating to 402,000 ounces of gold in indicated and inferred categories combined.

This new JORC-compliant resource represents a 40.6% increase in contained gold ounces compared to historical non-compliant estimates, positioning Lincoln among the highest-grade gold projects on the ASX. The resource is underpinned by 3,237 metres of recently completed underground diamond drilling, the first in over a decade, which confirmed multiple high-grade intersections and indicated that the mineralised system remains open at depth beyond 150 metres below the existing decline.

Rapid Restart Studies Leverage Significant Existing Infrastructure

Haranga is progressing Rapid Restart studies aimed at assessing the feasibility of near-term production. The project benefits from approximately $90 million of prior capital investment, including a 315,000 tonnes per annum processing plant, nearly 900 metres of underground decline development, workshops, offices, and key permits such as a Conditional Use Permit for mining.

The studies will evaluate mining methods suitable for the narrow vein system, operational capacity, development approaches, and milling strategies, including plant audits and upgrade requirements. The existing String Bean Alley underground decline provides immediate access to high-grade resources, supporting a potential expedited production pathway.

Ibel South Drilling Confirms and Extends High-Grade Gold Mineralisation

Meanwhile, at the Ibel South Gold Project in Senegal, Haranga completed a 3,244-metre Phase 3 reverse circulation drilling program across 19 holes. Assay results confirmed and extended known high-grade gold shoots, with notable intercepts including 14 metres at 7.29 g/t Au and 12 metres at 5.24 g/t Au. The gold-bearing system remains open along strike and at depth, supported by significant hydrothermal alteration and pyrite mineralisation observed in over half the holes drilled.

The company has lodged a permit renewal application for Ibel South and plans follow-up drilling targeting the northeast extension of the mineralised corridor, untested down-plunge positions of high-grade shoots, and southern alteration zones, aiming to expand the footprint of this emerging gold system.

Corporate Moves Signal Strategic US Focus

Haranga bolstered its board with the appointment of Scott Jackson as an Independent Technical Non-Executive Director. Jackson brings over 30 years of mining industry experience, including senior roles at Anglo American overseeing resource estimation and advanced projects. His expertise is expected to support the company’s development objectives as it advances Lincoln.

Reflecting its strategic pivot towards the US gold sector, shareholders approved changing the company’s name to American West Gold Ltd, with the proposed ASX ticker ASX:AWG. The rebranding aligns with the company’s focus on advancing the Lincoln Gold Project as its flagship asset.

Financial Position and Next Steps

Haranga ended the quarter with $6.3 million in cash, supporting ongoing drilling and resource expansion activities. The company reported $2.11 million in exploration and evaluation expenditure during the quarter, with no mining or production costs incurred as it remains in development phases.

Looking ahead, the market will be watching for outcomes from the Rapid Restart studies at Lincoln, which will inform mine design, scheduling, and potential production timelines. At Ibel South, further assay results and drilling plans will be critical to defining the scale and grade continuity of the gold system. Meanwhile, the rebranding and board strengthening mark a clear strategic shift that could reshape the company’s profile in the coming months.