Haranga Resources (ASX:HAR) has kicked off Phase II drilling at its Ibel South Gold Project (ISGP) with an AC drill rig now on-site spinning 24/7 as the company is targeting up to 4,000m of core equivalent.
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This follows up a maiden drill run for 2,000m that hit grades up to 6.5g/t gold in a 20m intersection from only 12m depth, and, another 10m section grading the same. In a world of higher gold prices, if Haranga can hit triple digit intersections, grades even less than that seriously pose a potential boost to the project.
Located in Senegal where Haranga has long been located, giving it the relationship network and local know-how it needs to organise the trappings of a drill run in modern day Africa, geotechs are hopeful they can at least replicate what was found in the maiden drill run, if not more.
Regardless of what happens, a third stage of drilling is slated for 2026, across both RC and diamond-tipped drill types, targeting depth extensions, and, a handful of other targets as of yet untapped.
“With the rig now back on site, this second phase of drilling is designed to build our geological confidence by testing strike, structure and continuity ahead of any further drilling. It’s important work as we move from initial discovery indicators toward a more detailed understanding of the system,” HAR chief Peter Batten said.
HAR last traded at 14cps; shares were up just shy of +4% out the gate on Friday.
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Disclaimer: HotCopper had a commercial relationship with HAR at the time this article was crafted and published.