HAR - Lincoln Gold Project Operational and Drilling Update

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

HAR’s project is in the motherlode region (which was actually the epicentre of the original Californian gold rush).

The project has a 286,000 oz foreign resource and HAR is looking to drill and convert it to JORC status. (source)

(Data from a 2008 Payne report shows that it could actually be a lot bigger too, up to ~682,000 ounces) (source)

HAR’s project has ~US$90M of infrastructure, including a processing plant and an underground decline drive - since acquiring the project, HAR’s spent most of its time dewatering the underground decline).

HAR expects to have a diamond rig on dite in the second half of this month, with the first two holes to be drilled in a part of the decline that was just dewatered.

HAR’s plan is to drill ~21 holes in total with one of the holes to be drilled down to 350m depths.

(HAR’s ground has rarely had drilling done below 150m depths).

So we will get a few confirmatory holes, into parts of the project where we expect to see mineralisation…

AND we get that deep hole going after repeat discoveries.

(Source)

We also saw HAR is doing major electrical upgrades on the project.

Basically, HAR has been doing a lot of rehab work, to get its project ready for drilling.

Once all that is done, HAR will have clear pathway to newsflow.

(Source)

Meanwhile, HAR is currently drilling its other project…

HAR is currently doing follow-up aircore drilling at its gold project in Senegal.

HAR is following up the results that triggered the recent run in HAR’s share price to 20c per share from a few months ago.

We covered those previous results here.

Off the back of those hits, HAR raised $14M and has commenced a planned 3,000m drilling program that can be extended to 4,000m.

With this next round of drilling, HAR is aiming to extend the known mienralisation at surface to ~700km.

Drilling is expected to take ~3 weeks to complete.

(Source)

Our ideal scenario would be for HAR to make a major discovery, similar to Predictive Discovery’s ~$1.6B success story in West Africa, although that remains a best-case scenario with no guarantees.

So far, drilling has focused on shallow targets, but with one hole ending in mineralisation, HAR has already confirmed planning is underway for RC and diamond drilling in 2026 to test deeper extensions.

What we want to see next from HAR

Drill results Senegal 🔲

HAR is currently drilling at this project and given the program is only expected to take 3 weeks and the quick turnaround in assays from the prior drill program, we could see results before the end of the year.

Drilling to start in USA 🔄

Dewatering is continuing, however importantly has now progressed enough to enable access to the planned first drilling area, so we await confirmation that drilling has commenced.

HAR today confirmed that drilling is expected to commence later this month. (Source)