HAR to fast track follow up drilling on gold targets

Our gold Investment Haranga Resources (ASX: HAR) has just released an update on future drilling programs at both its US and Senegal project.

Just last week HAR put out drill results from a shallow aircore program at its project in Senegal.

Drilling hit intercepts like a 20m hit with average gold grades of ~6.54g/t from only 12m depths and the market liked the news… HAR’s share price is up 22% from where it was trading pre-results.

Which is why we like that HAR is now fast tracking a follow up drill program on this project.

The main reason we are Invested in HAR is still for its US gold project - but with the gold price at all time highs, we think it's well worth following up those results from HAR’s project in Senegal.

HAR’s plan is to drill ~3,000m of aircore holes between the previous drilling lines and an additional line to the North North-East to see if mineralisation continues in that direction.

Here is where those holes will sit:

(Source)

If those results come in, then HAR can test all of the anomalies that trend toward the south-west (marked as red spots in the image below):

(Source)

An update on HAR’s US gold project

HAR also confirmed in today’s announcement that drilling on its US asset would start in October.

We mentioned earlier that the US asset is still the main reason why we are interested in HAR.

HAR’s US asset sits in the centre of the original Californian gold rush in the “motherlode region”.

This project already has a 286,000 oz non-JORC resource at 9.28g/t historic resource

Data from 2008 estimates that the resource size could grow up to ~682,000 ounces.

With the upcoming drilling, HAR will be looking to try and convert some of those historic resources into JORC compliant resources.

Earlier this week we put out a Quick Take on this update: HAR now weeks away from drilling the US gold project

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.