Haranga Resources (ASX:HAR) has had a good twelve months, seeing its share price climb over +170%, and there’s good reason to reckon that could go further – especially seeing as the company will release a fresh maiden JORC for its US-based Lincoln gold project next week.
Disclaimer: This content has been prepared as part of a partnership with HAR and is intended for informational purposes only.
With the penultimate step being a diamond drill run, that program has now concluded and on Friday Haranga flagged a number of high-grade hits including:
- 4m @ 6.65g/t gold from 22m depth;
- 3m @ 13.5g/t gold from 30m depth, and,
- 9m @ 4g/t gold from 20m depth.
Furthermore, the company’s diamond drill assays turned over proof of bonanza grades in piecemeal finds; one pocket of gold mineralisation at Lincoln returned a grade of eighty five grams of gold per tonne. While that intersection was fleeting, it’s likely to land on investors’ radars.
“All four final holes have intersected additional high-grade gold mineralisation, including assays of up to 84.7g/t Au,” HAR Chairman Michael Davy said of the drill run.
“With multiple key developments expected in the near term, including the JORC Mineral Resource Estimate … [the] final batch of results from XC8 has once again confirmed the quality of the Project.”
Currently cashed up to the tune of $9.3M, Haranga’s looming maiden JORC for Lincoln will be hotly watched. The company’s project is located in California, USA and comes as gold prices remain elevated near the US$5,000/oz mark.
The Lincoln Gold Project has already been the recipient of some $90M worth of capital investment across its storied life; the project boasts a 315ktpa processing plant and an existing underground decline nearly a kilometre in length. Admin infrastructure for workers is also ready to go at the project.
HAR last traded at 14cps.
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