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Aussie explorer Haranga Resources (ASX: HAR) has this week unveiled a robust exploration target for the South Spring Hill area at the Lincoln gold project in California’s legendary “mother lode” gold belt in the United States.
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The exploration target has been estimated at 1.16 million tonnes (Mt) to 1.64 Mt of gold at 5.4 grams per tonne (g/t) to 5.8 grams per tonne for between 202,000 ounces to 308,000 ounces at a 2.0 grams per tonne cut-off.
Michael Davy, Haranga’s chairman, today told shareholders that South Spring Hill will provide an early production opportunity with the exploration target sitting in conditional use permits, which allow production of gold and a mill circuit that produced gold as recently as CY22.
“South Spring Hill is one of a number of opportunities we are advancing as part of our broader strategy to build scale at Lincoln,” Mr Davy said. “The target and Lincoln-Comet historical 2015 NI 43-101 foreign resource estimate are early signs of the resource growth potential and grade, on our existing project area.”
He continued: “Our approach is to systematically assess and prioritise the range of resource growth opportunities before us, with the aim of growing the scale and quality of the Project to support a robust development scenario, complemented by extensive infrastructure and approved mining permits.”
Haranga is also aiming to further investigate the upside of the large position that the company now holds in the “mother lode” belt.
“The mother lode is a globally significant gold system, with evidence of multiple remnant orebodies along strike and potential for mineralisation to extend at depth, where gold occurrences have historically been identified at depths of more than 2000m below surface,” Mr Davy noted.
Haranga is currently targeting a major resource upgrade at the Lincoln gold project with a new drilling program underway.
The company has significantly expanded the drilling program from an initial 30 holes to 40 as it fast-tracks the historic mining area towards initial production.
Haranga acquired Lincoln in July CY25, and as part of the due diligence in the finalisation of the purchase, the company obtained high-grade samples of 3.7m at 108 g/t gold from 24.1m and a spectacular hit of 0.91m at 304.5 g/t from 26.88m. Lincoln notes a historical gold resource of 286Koz at 9.3 g/t.
HAR is steady at 12cps on Tuesday morning.
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