HAR now weeks away from drilling the US gold project
Our gold Investment Haranga Resources (ASX: HAR) is now weeks away from drilling its US project in California.
HAR recently completed the acquisition of ground in the heart of the famous California gold rush region, a region literally named the “Mother Lode”.
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)
HAR with some drilling is aiming to convert these into a JORC compliant resource by the end of the year.
Before HAR can drill, it needs to dewater the existing underground decline.
And today HAR said the dewatering process was being run at “maximum allowable rates” and water levels should “drop below the targeted drill site locations over the coming weeks”.
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.
8 Reasons why we like HAR’s project:
The following reasons are listed in our site visit article.
Check out that part of the note here
- Advanced gold project in the USA - Gold macro thematic is very strong right now, especially in the USA.
- The “Mother Lode” is in one of the most prolific gold producing jurisdictions, ever
- High-grade gold resource with expansion potential
- Exploration upside - target to grow to >1 million ounces of gold
- Permitted processing plant with district scale consolidation opportunity
- A$90M has been invested in the project to date, including a 350,000 tpa processing plant
- Conventional, simple metallurgy with high recovery rates.
- HAR’s geology is well understood by the mining industry and the ASX market
What’s next for HAR?
Drilling program 🔄
First we need to see the dewatering process get completed.
Once HAR is able to access its underground decline, it will be all about drilling.
HAR previously said it expected drilling to start in mid-September so we know roughly when things should kick off.
