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Haranga Resources (ASX: HAR) is on target for a major resource upgrade at the Lincoln gold project in California. The company is currently drilling ahead at the Cross Cut 7 (XC7) area at Lincoln after significantly expanding its drilling program from an initial 30 holes to 40 at the legendary Mother Lode gold belt project.
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“Having returned from the Lincoln gold project site earlier this week, which included a site visit with brokers, institutional and sophisticated investors and stakeholders in the US, parties were highly positive and strong interest was expressed in the project,’ chairman, Michael Davy, said.
“With the final portion of resource drilling underway and key inputs for the resource estimate now largely complete, the company is well positioned to deliver a JORC-compliant mineral resource estimate by the end of April.”
He continued: “This milestone complements a broader pipeline of growth initiatives currently underway, which includes additional exploration targets and planned drilling to test for repetitions at depth.”
Mr Davy also explained that Lincoln ticks the right boxes as Haranga advances the project toward a realistic development scenario.
Haranga completed the acquisition of Lincoln in July CY25, and as part of the due diligence for the purchase, the Australian company obtained high-grade samples of 3.7 metres at 108 grams per tonne (g/t) gold from 24.1 metres and a spectacular hit of 0.91 metres at 304.5 g/t from 26.88 metres.
Lincoln currently notes a historical gold resource of 286,000 ounces at 9.3 g/t. The project covers a strike length of approximately 5.8km in the “Mother Lode” consisting of 47 property parcels through a combination of ownership and lease agreements for mineral and surface rights, totalling 322 hectares.
The “Mother Lode” itself is a 190-kilometre-long belt of gold deposits in the Western Foothills of the Sierra Nevada Mountain Range and can trace its famous history back to a California gold rush of the 1840s.
HAR is steady at 11.5cps.
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