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Highlights
- Haranga Resources shares climbed 7.41% to AUD 0.14 in midday trade today, following an operational update on its flagship Lincoln Gold Project in California.
- Dewatering at the Stringbean Alley Decline has reached the first drill position, paving the way for the start of underground diamond drilling.
- Mobilisation of a Swick Gen II diamond drill rig is scheduled for late November to commence a ~2,200m programme targeting a maiden JORC resource by January 2026.
- The Lincoln Gold project, backed by ~AUD 90 million in prior investment, includes an established processing plant, underground decline, and key mining permits.
Haranga Resources Limited (ASX:HAR) (FRA:65E0) shares rose +0.0100 (7.41%) today to trade at AUD 0.14 during midday trade, amid the company’s news of an operational update at its flagship Lincoln Gold Project in California. The update follows the completion of the acquisition of the fully permitted, high-grade project with significant infrastructure already in place.
Haranga reported that dewatering of the Stringbean Alley Decline has reached the first drill position, with mobilisation of a Swick Gen II diamond drill rig scheduled for late November to commence a ~2,200m underground drilling program aimed at delivering a maiden JORC resource by January 2026.
Reflecting on the development, Haranga’s Managing Director, Mr. Peter Batten, commented: “Few gold companies globally have the advantage of stepping into an existing decline and drilling directly into a well-known, high-grade gold system. With all the necessary preparations progressing at pace, Haranga intends to fully leverage this strategic position, with drilling scheduled to commence in the weeks ahead. Our immediate focus is to convert the historical resource into a JORC-compliant estimate in January, laying the foundation for the next phase of development. Haranga is in a unique position to rapidly advance a high-grade, fully permitted gold project with meaningful infrastructure already in place. I look forward to providing further updates as progress continues.”
