HAR begins follow up drilling program on gold project in Senegal
Our gold Investment Haranga Resources (ASX: HAR) has just announced its follow up drilling program in Senegal is underway.
HAR is following up shallow aircore drilling from a few months back which started the recent run in HAR’s share price.
In September, HAR hit 20m+ gold intercepts - one of those hole #8 hit 20m at 6g/t gold, which when reassayed over 1m intervals, increased to 20m at 6.54g/t gold.
No one (including us) were expecting those results… and HAR’s share price went from 8.6c up to 20c in October when the reassays were released.
The past performance is not and should not be taken as an indication of future performance. Caution should be exercised in assessing past performance. This product, like all other financial products, is subject to market forces and unpredictable events that may adversely affect future performance.
HAR raised $14m off the back of those results (which we participated in) and has now kicked off a follow up program for another 4,000m of shallow aircore drilling.
(see our note post capital raise: HAR: Just raised $14M - Two gold drilling campaigns starting in the coming weeks.)
The current round of drilling is expected to take ~20 days - after this we will know just how big of an area the gold mineralisation extends over.
The aim for this drilling is to extend the ~700m strike length at surface that previous drilling found.
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The ultimate win for HAR on the surprise Senegal gold project would be a Predictive Discovery style major gold discovery - anyone who followed that stock will remember they had a similar story arc.
No guarantees of course - it's an ‘ultimate win scenario’ for a reason - hard to come true like this…
Predictive drilled a few aircore holes with low expectations, hit high grade gold, followed it up with RC drilling and ~5 years later it’s capped at ~$1.6BN.
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The past performance is not and should not be taken as an indication of future performance. Caution should be exercised in assessing past performance. This product, like all other financial products, is subject to market forces and unpredictable events that may adversely affect future performance.
So far, HAR’s drilling has mostly been shallow aircore holes - we are looking forward to seeing HAR come back in with an RC/Diamond rig and test extensions at depth - especially with one hole ending in mineralisation…
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Today HAR confirmed just that, with a RC/DD drilling program being planned for 2026…
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HAR’s project sits in an area with some big operating mines including projects owned by $16BN Endeavour Mining and $2.5BN Resolute Mining.
(The region has a few other gold discoveries too, so it's not in the middle of nowhere either).
So a big discovery from HAR here could very easily bring with it corporate attention (if the early results haven’t already).
(Source)
An update on HAR’s US gold asset
HAR also owns a project in California, USA.
This project already has a 286,000 oz non-JORC resource at 9.28g/t historic resource and drilling will be looking to follow up on prior hits from due diligence that included:
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Data from 2008 estimates that the resource size could grow up to ~682,000 ounces.
Drilling is scheduled to begin very soon and continue 24/7 once access can be gained while dewatering is continuing to progress which the company gave an update on recently.
The aim is to also convert the resource to become JORC compliant by the end of the year.
Recently we put out a Quick Take on this update which you can view here.
Drilling at this project is now scheduled to begin this month. (source)
We have actually been to site but unfortunately, we weren't able to go underground because the dewatering process had not been completed yet.
Check out our full site visit here: HAR: Richest section of the California gold rush Mother Lode and fully permitted processing plant…. and we saw it.
