HAR drilling continues at US gold project - maiden JORC resource estimate targeted for April

Our gold Investment Haranga Resources (ASX: HAR) just put out a drilling update from its gold project in California, USA.

HAR expanded the drill program from 30 to now 40 holes and confirmed that the geology HAR is seeing matches the interpreted historic resource for the project.

HAR’s project sits in the epicentre of the original Californian gold rush.

The project has a historic non-JORC resource of ~286,000 ounces of gold at 9.29 g/t (with previous data hinting that it could actually be up to ~682,000 ounces in size). (source)

(source)

Most of the project has only been drilled down to ~150m depths - even though most of the old mines in the area produced gold down to >1,500m depths.

(Who knows how much more gold HAR can find by lobbing a few super deep holes into the project)

(source)

HAR’s project also comes with ~A$90M of sunk infrastructure including a fully permitted 350,000 tpa processing plant and an underground decline. (source)

We are Invested in HAR to see the company convert this historic resource into JORC status, grow the resource to >1M ounces and ultimately put the project back into production using the existing infrastructure.

(source - our pics from a site visit last year, see that here)

An update on the current drill program

HAR confirmed today that so far ~2,189m of drilling had been completed with the rig currently at cross cut 7 (XC7) here:

(source)

HAR’s plan is to drill a total of ~3,370m with the extra 10 holes to infill the main zones of the historic resource (which we take as a good sign, HAR is seeing the right type of rocks).

So far so good and assays should be interesting given HAR specifically mentioned that the “lode thicknesses are improving as drilling progresses further south”. (source)

Ultimately, we are hoping this round of drilling delivers a JORC resource estimate close to (or higher) than the historic ~286,000 ounces of gold at 9.29 g/t resource.

HAR confirmed the maiden JORC resource is due by the end of April (~ 6weeks).

What's next for HAR?

🔄 Maiden JORC resource estimate (end of April)

We want to see HAR convert its ~286koz non-JORC gold resource into JORC compliance.

We are also looking forward to the 350m deep hole HAR has planned to test below the existing ~150m resource depths - results from that hole are expected after the maiden resource:

(source)

Here are the milestones we are tracking for the US asset:

• ✅ Drilling commenced (December 2025)
• ✅ Drilling expanded to 40 holes / 3,370m
• 🔄 Drilling at XC7, XC8 drilling to follow
• 🔄 Assay results
• 🔲 Maiden JORC Mineral Resource Estimate (Expected at the end of April)
• 🔲 Deep hole to test at depth

🔄 Senegal gold - deeper drilling

HAR also confirmed earlier this year it would start deeper RC drilling at its Senegal gold project, following up on 800m of continuous gold mineralisation from shallow aircore drilling - including 20m @ 6.54 g/t gold from just 12m depth.

See our most recent coverage of the Senegal asset here: HAR: 800m of continuous gold mineralisation - deeper drilling to start this quarter