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Haranga Resources (ASX: HAR) has commissioned a staged rapid restart program associated with a commencement of mining and milling at the Lincoln gold project in the Motherlode region of California.
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The restart program is now well underway with mining and milling studies progressing and are intended to provide an estimate of costs and production profile associated with a commencement of mining and milling at Lincoln.
Chairman, Michael Davy, said since delivering the maiden JORC mineral resource estimate (MRA) at Lincoln, the company has undertaken substantial technical work and detailed planning to determine the most efficient, cost-effective and disciplined pathway for advancing the project.
“We are now preparing for the next intensive phase of activity, while continuing to pursue the dual-track strategy of resource growth and rapid restart outlined in our corporate presentation,” Mr Davy said.
“We continue to believe Lincoln has significant potential for multi-million-ounce resource growth, alongside the prospect of a rapid restart. We believe the best outcome for shareholders will be achieved by advancing both opportunities in an intelligent and cost-conscious manner, while leveraging the project’s existing infrastructure, historical workings and extensive historical data.
“In parallel, we continue to assess suitable candidates for the position of managing director. “Together with the recent appointment of our new independent technical non-executive director, Scott Jackson, this process reflects our commitment to assemble the strongest team possible to advance the company’s resource growth and rapid restart aspirations.”
Company personnel are currently reviewing opportunities that could support further mineral resource growth, improve resource confidence, and define additional exploration targets across the broader Lincoln gold project. This includes the possibility of the potential to convert most of the South Spring Hill exploration target to an Inferred mineral resource.
HAR was steady at 8.1¢. Mkt cap $36.66M.
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