HAR Completes Acquisition of Fully Permitted US Gold Project
Our US gold Investment Haranga Resources (ASX: HAR) announced the completion of a deal to acquire the Lincoln gold project in California.
The final step now is for HAR to issue all of the shares related to the acquisition:
(Source)
HAR’s project has:
- Historical drilling with gold deposits remaining open along strike and depth along the region that was the centre of the Californian gold rush (where ~8.4Moz of gold was produced).
- Major infrastructure with over $90m in sunk capital
- A conditional use permit - meaning it can take its project into production a lot quicker than any other projects in California.
- District-scale expansion potential to expand the footprint
- Clear path to JORC resources and production
HAR’s project already has a 286,000 oz non-JORC gold resource at 9.28g/t.
(with 2008 data showing it might be up to ~682,000 ounces, more on this below)
...and new drilling is planned for mid-September.
We just got back from a site visit for the project which you can check out here: HAR: Richest section of the California gold rush Mother Lode and fully permitted processing plant…. and we saw it.
What’s next for HAR?
Next we want to see HAR issue all of the acquisition related shares and start preparing for its first drill program.
After the deal closes, we will be looking forward to the diamond drilling HAR has planned for next month.
HAR expects to be drilling in mid-September:
(Source)
