Haranga Resources (ASX:HAR) intends to post an updated JORC-compliant Mineral Resource Estimate at its Lincoln Gold Project in Senegal before February 2026, as activities on-site the project heat-up in what has proven to be a beneficial strategic pivot into gold for the now dual-gold-uranium company.
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To date, Haranga’s one-year returns are up nearly +160% to 14.5cps on the back of gold fever and gradual meaningful development on-site.
Right now, talking geotechnicals, the company is focusing on an existing decline that, all cards in order, Haranga will eventually see become a modern underground operation.
To get there, the company needs to convert existing historical data into a JORC-compliant resource, and towards that endeavour, Phase II drilling will kick off later this month using a diamond drill rig for up to 3,000 metres of core, which could be expanded depending on the results of that first contract.
Existing infrastructure is being upgraded and maintained when it comes to underground works; the existing (non-compliant) resource extruded from historical data is estimated to boast 286,000 ounces of gold. So far, the company has invested $90 million into the effective modernisation of existing assets on-site.
“Few gold companies globally have the advantage of stepping into an existing decline and drilling directly into a well-known, high-grade gold system,” Haranga managing director Peter Batten said.
“With all the necessary preparations progressing at pace, Haranga intends to fully leverage this strategic position, with drilling scheduled to commence in the weeks ahead.”
HAR last traded at 14.5cps; up 7.5% intraday.
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