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Haranga Resources Limited (ASX:HAR) has this week released a drilling update for its wholly owned Lincoln Gold Project in California’s Mother Lode Gold Belt. While the Australian explorer has already completed several diamond drill holes, it also warned recent inclement weather has impacted the dewatering timeline and the subsequent delivery of a JORC-compliant Mineral Resource Estimate.
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Disclaimer: This content has been prepared as part of a partnership with Haranga Resources Ltd and is intended for informational purposes only.
The current drilling program is designed to validate historical data from a 2015 NI 43-101 non-compliant resource estimate, which currently stands at 958,910t @ 9.29g/t Au (approximately 286koz of gold).
Key drilling milestones for Haranga include:
- XC3 (Cross Cut Three): Completion of four HQ diamond drill holes (DDH251–254) totalling 334.4m.
- XC4: Drilling is nearing completion, with hole DDH262 currently underway.
- XC5: Planned for the next stage, involving four holes, to 340m.
Haranga has completed around 27% of the planned meterage, with 19 holes (2,000 metres) remaining. Managing director Peter Batten noted geological observations have shown good continuity and consistent lode structures, despite current drilling located on the periphery of the known mineralisation.
Significant environmental factors have shifted the project’s schedule. Between December 19 and January 5, the region recorded 33 inches of rainfall. Due to permit restrictions that prohibit the discharge of treated mine water during heavy rain, the company lost an estimated 15 days of dewatering progress.
As a result, Haranga’s previously indicated timeframe for the JORC MRE (end of January ) will not be met. A revised timeline will be provided once there’s greater clarity regarding laboratory assay turnaround times.
At the same time, the company reported positive technical results from initial Chrysos PhotonAssay test work. This method demonstrated strong agreement with prior screen fire assays, with results ranging from 94% to 102% of previous values. These results included high-grade samples such as:
- PA005: 58.86 g/t Au
- PA007: 41.21 g/t Au
Haranga intends to report assays from XC3−XC8 as a single batch to support the conversion of the project’s resource to JORC compliance.
Heading into Wednesday, HAR shares have been at 16c each.
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The material provided in this article is for information only and should not be treated as investment advice. Viewers are encouraged to conduct their own research and consult with a certified financial advisor before making any investment decisions. For full disclaimer information, please click here.
