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Highlights
- Haranga has completed the acquisition of the fully permitted Lincoln Gold Project in California.
- The Lincoln Gold Project has benefited from more than AUD 90 million in historical investment.
- The company plans to commence a diamond drilling program at the Lincoln-Comet deposit to deliver a JORC resource and test extensions.
- A 2,000m aircore drill program at Ibel South has confirmed near-surface gold mineralisation, with potential lateral extension over 700m and scope for further continuity.
- The Saraya uranium permit has been renewed.
Haranga Resources Limited (ASX:HAR; FRA:65E0) has delivered a pivotal first half of FY25, significantly advancing its multi-jurisdictional commodity strategy. The period marked a turning point for the company, highlighted by the acquisition of the Lincoln Gold Project in California and continued exploration progress across Senegal.
Subsequent to the period, the company announced advances towards maiden drilling planned at the Lincoln Gold Project and encouraging outcomes from drilling at the Ibel South Project.
Lincoln Gold Project Acquisition – A Game-Changing Move
The most strategic milestone of the half year ended 30 June 2025 was Haranga’s binding agreement and subsequent completion of the acquisition of Seduli Holdings (USA) LLC and its wholly owned subsidiary Seduli Sutter Operations Corporation. Seduli owns the Lincoln Gold Project located near Sutter Creek, Amador County, California. The acquisition was finalised in July 2025.
Situated about 60 km southeast of Sacramento, the Lincoln Gold Project is fully permitted for underground mining, ore processing, and surface exploration. More than AUD 90 million has already been invested in the project, which reduces Haranga’s future development costs and provides a fast-track pathway to production once resources are confirmed and mine planning is complete.
Planned Work Program: Haranga plans to begin a 1,500–2,500m underground diamond drilling campaign targeting the Lincoln-Comet zone. This drilling aims to provide fresh data for a JORC resource estimate, followed by step-out drilling at Lincoln and Comet to test extensions and identify additional high-grade zones. Further drilling will also target South Spring Hill and Medean (Keystone), which have been prioritised as high-potential targets within Haranga’s lease package.
Exploration Activities in Senegal – Expanding Uranium and Gold Potential
While the California acquisition has attracted significant attention, Haranga has also made meaningful progress across its Senegalese exploration portfolio.
Saraya Uranium Project: Termite mound sampling across the Saraya permit began in Q1, continued through Q2, and concluded at the onset of the wet season. The focus was completion of the Kondokho South and Kondokho North grids at the NNE end of the Saraya trend.
On 1 July 2025, the company received confirmation from the Senegalese Authorities granting the renewal of the Uranium Exploration Saraya Permit.
High-Grade Gold Assays from Ibel South Drilling
Haranga completed a 2,000m aircore drill campaign at Ibel South in July 2025. The program targeted gold anomalies defined by earlier termite mound sampling. Maiden drilling confirmed near-surface mineralisation. Results suggest mineralisation may extend laterally over 700m and could be longer if the zones connect.
Corporate and Finance
As of 30 June 2025, Haranga Resources reported cash and cash equivalents of AUD 3.94 million and positive working capital of AUD 3.63 million. The company completed a placement of 105.6 million ordinary shares at AUD 0.05 per share, raising AUD 5.28 million before costs.
On 17 July 2025, the company appointed Mr. Bruce McCracken and Mr. Jeremy King as Non-Executive Directors.
Shares of Haranga traded at AUD 0.10, up 4.08% at the time of writing on 12 September 2025.
