Haranga confirms high-grade mineralised repetitions at Lincoln-Comet

• Major HQ diamond drilling program complete.
• All assays returned except for four holes, which are expected this week.
• High-grade results to support resource upgrade to compliant JORC numbers.
• Development backed by $90M of prior capital investment.

Haranga Resources (ASX:HAR) is off to a strong start with the first Lincoln-Comet diamond drilling program in more than a dozen years, having already hit multiple high-grade intercepts at the Californian project.

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Chairman, Michael Davy, said the success of the campaign will support the release of a maiden JORC MRE while providing vectors for lode repetition drilling at depth and the next phase of the project’s development trajectory.

“This program has delivered exactly what we needed to see to continue advancing Lincoln to the next stage,” Mr Davy told Haranga shareholders today.

The explorer’s chief added: “We have confirmed the very high-grade character of the deposit, generated the coverage required to support the near-term delivery of a maiden JORC MRE and established a stronger technical foundation for the next phase of resource growth drilling at depth.”

Deeper drilling from diamond holes DDH0280 and DDH0281 confirmed the system is wide open at depth, with parallel repetitions of the zones that host quartz-gold lodes below the existing resources are now confirmed to be present and mineralised.

“We have already begun incorporating these results into our geological knowledge base to refine vectors towards potential higher-grade shoots at depth, much like those seen in the Lincoln-Comet orebody,” Mr Davy explained.

Lincoln sits within California’s prolific “Mother Lode” gold belt, and Haranga is aiming to build beyond the initial resource base by systematically testing depth extensions and multiple additional targets along the broader project trend.

Results from the recent program largely matched expectations from previous drilling and confirmed the high-grade nature of the primary target mineralisation.

The company intends to repeat all significant assay intervals using PhotonAssay. That technology has previously shown exceptional correlation with recent screen fire results at the project and will include intervals returning less than 10ppm, which Haranga believes may show uplift in certain settings.

HAR is down -1.82%, to 13.5¢. Mkt cap $61.19M.

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