- Haranga has spotted “positive” visual indicators of gold mineralisation repetitions at depth in its Lincoln in the Mother Lode.
- The Mother Lode is known to host systems up to 2,000m deep.
- Haranga’s working on updating its historical, non-compliant NI 43-101 resource.
Haranga Resources (ASX:HAR) has spotted “positive” visual indicators of gold mineralisation repetitions at depth in its Lincoln gold project in the Mother Lode Gold Belt, as the explorer’s 3,270-metre drilling rolls on to completion.
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The discovery was spotted in two key deep holes, DDH0280 and DDH0281, and confirmed zones of alteration, silicification, and sulphide mineralisation. Indicators were found at depths exceeding 150 metres under the existing decline, suggesting the mineralised footprint extends a whole lot further.
These findings – which Haranga is now rushing to confirm – are important because extensions are key to Haranga’s growth strategy. The Mother Lode is known to host systems that reach depths of up to 2,000 metres.
“This programme represents the first diamond drilling at Lincoln-Comet in over 12 years and marks a significant development milestone for the project and the company,” Haranga chairman Michael Davy said today.
“DDH0280 and DDH0281 were designed to test for repetitions of mineralisation beneath the Lincoln-Comet system; a key part of our broader growth strategy. Pleasingly, visual indications thus far support our view… Lincoln may host additional sources of mineralisation below the current known footprint.”
(The company also cautioned that visual estimates are not a substitute for laboratory analysis; hence why Haranga’s chiefs are pushing for confirmation.)
It’s very good timing, if everything can be confirmed: Haranga’s now transitioning its historical, non-compliant NI 43-101 resource – estimated at 958.9K tonnes @ 9.29 grams per tonne gold – into a maiden JORC-compliant MRE.
There’s plenty still to feed into that update, whether visual estimates become lab-confirmed results or not, though, including the final assay results from cross-cuts XC3 to XC8. Those are expected to come back in this month.
Then, in early-ish May, Haranga is expecting to unveil maiden JORC-compliant resource estimates for both Lincoln-Comet and Medean. Assay results for the deep repetition holes DDH0280 and DDH0281 will come in around the same time; if they’re later than that, they’ll be folded into any future updates.
HAR has been up +4.3%, to 12cps on Wednesday.
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