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Highlights
- Haranga Resources is nearing completion of its acquisition of the Lincoln Gold Project, with only third-party agreements pending signature.
- The project includes a 5.8 km section of California’s prolific “Mother Lode” gold belt, which has historically produced ~3.4 Moz of gold.
- A 2015 NI 43-101 report estimates a gold resource of 286,000 ounces at 9.3 g/t, including high-grade zones at the Lincoln, Comet, and Medean deposits.
- Over 34,700m of drilling has been completed across 336 holes, with mineralisation remaining open along strike and at depth.
- The Lincoln Gold Mine is fully permitted and considered production-ready, with approval to process up to 315,000 tonnes of ore annually.
- Haranga aims to define more than one million ounces of high-grade gold and develop a large-scale mining operation.
Haranga Resources Limited (ASX:HAR, FRA:65EO) is approaching the final stages of acquiring the Lincoln Gold Project, as announced in March 2025. The last step requires the execution of the third-party deeds of assignment and assumption. The company is actively engaging with relevant stakeholders and expects these agreements to be finalised and signed in the coming days.
Upon completion, the company will confirm that all conditions precedent have been satisfied, allowing the transaction to be formally closed.
Project Overview
Haranga has executed an agreement to acquire a 5.8 km section of the highly prospective "Mother Lode" gold belt, located in California. This region is known for its prolific gold endowment, with an estimated historic gold production of 3.4 million ounces from the newly acquired leases.
A 2015 NI 43-101 (non-JORC) resource report outlined a substantial gold inventory, with a total Indicated and Inferred resource of 286,000 ounces grading 9.3 grams per tonne (g/t) gold. This includes 189,000 ounces at 9.9 g/t in the Indicated category from the Lincoln and Comet areas, and 97,000 ounces at 8.3 g/t in the Inferred category from the Medean zone.
To date, extensive drilling has been carried out, totalling 34,771m across 336 RC and diamond drill holes. The project shows potential for resource expansion, with mineralisation remaining open along strike and at depth.
Haranga is focused on a fast-track development, leveraging more than USD 90 million in sunk capital, including an 880m decline, 900m of underground development, a fully equipped processing plant, mine infrastructure, and on-site offices and workshops.
Significantly, the Lincoln Gold Mine is fully permitted for mining, processing, and exploration drilling. It is considered production-ready, with all major approvals in place. Conditional Use Permits issued by Amador County in 2007 allow processing of up to 315,000 tonnes of ore annually. These permits also allow for amendments to increase processing capacity as the in-situ resource base grows.
The project also offers exceptional district-scale expansion potential. The Conditional Use Permit enables Haranga to build a land bank over other key mining areas of the Mother Lode.
Looking ahead, the company’s goal is to define at least one million ounces of high-grade gold and advance the project toward becoming a large-scale mining operation.
Haranga is well positioned to advance the Lincoln Gold Project toward near-term development milestones. With the acquisition nearing completion, drill program ready to commence, and confirmed high-grade resource potential, the company highlights that it is on track to unlock value from one of Australia’s most prospective historic goldfields.
HAR shares traded at AU$ 0.078 at the time of writing on 17 July 2025.
