Haranga Resources (ASX:HAR) Advances Lincoln Gold Project Drilling Toward Resource Upgrade

3 min read | January 20, 2026 01:51 PM AEDT | By Sonal Goyal

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Haranga Resources (ASX:HAR) Advances Lincoln Gold Project Drilling Toward Resource Upgrade — Image source: Company update

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Highlights

Haranga Resources advances the Lincoln Gold Project drilling toward a JORC-compliant resource upgrade.

Geological observations align with the expected high-grade lode structures.

Dewatering temporarily impacted by heavy rainfall.

Chrysos PhotonAssay™ results show 94–102% correlation with prior assays, confirming historical data.

Haranga Resources Limited (ASX:HAR) (FRA:65E0) has reported continued progress at its wholly owned Lincoln Gold Project in California’s renowned Mother Lode Gold Belt, as drilling and underground activities advance toward a JORC-compliant resource upgrade. Notably, geological observations from drilling to date align with the expected lode structures.

The Lincoln Gold Project’s non-compliant NI 43-101 resource estimate stands at 958,910 tonnes at 9.29g/t gold, containing approximately 286,000 ounces of gold at a 4.2g/t cut-off.

Drilling Progress Across Multiple Crosscuts

Diamond drilling at Cross Cut 3 (XC3) was completed in December 2025, with four HQ holes drilled for a total of 334.4m. Drilling then moved to Cross Cut 4 (XC4), where one hole (DDH255) of 52.5m was completed prior to a planned Christmas shutdown.

Drilling resumed at XC4 in early January 2026, and to date, ten holes totalling 760.5 metres have been completed, with the final hole at XC4 (DDH262) currently being drilled. The broader programme is approximately 27% complete, with 19 holes and 2,000 metres remaining, excluding potential deeper follow-up drilling.

Dewatering Temporarily Affected by Seasonal Rainfall

Dewatering within the 900-metre Stringbean Alley Decline was temporarily constrained by heavy rainfall across Central and Southern California between 19 December 2025 and 5 January 2026. Approximately 33 inches (840mm) of rainfall were recorded locally during this period, resulting in an estimated loss of 15 pumping days.

Despite these conditions, dewatering has continued where possible, with Cross Cut 5 (XC5) currently being drained. Access to XC5 is expected to be re-established shortly, while upper development drives have now largely been dewatered, improving discharge efficiency for XC6 to XC8.

Confirmation of Assay Methodology

Initial Chrysos PhotonAssay™ test work has demonstrated agreement with prior screen fire assays, with gold grades ranging between 94% and 102% of screen fire values, validating historical data and supporting the current analytical approach.

Further PhotonAssay™ analysis will be undertaken utilising core produced from the current drilling programme as an additional quality assurance measure.

Next Steps and Resource Timeline

Samples from XC3 to XC8 will be reported as a single batch to support conversion of the current NI 43-101 resource estimate to a JORC-compliant Mineral Resource Estimate. The company expects that an updated JORC-compliant MRE will be completed in the weeks following the receipt of these assay results.

HAR shares were trading at AUD 0.165 per share at the time of writing on 20 January 2026.

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