HAR to start drilling US gold project in October

Our US gold Investment Haranga Resources (ASX: HAR) has just awarded a drilling contract ahead of the upcoming drilling on its Lincoln Gold Project.

HAR expects drilling to start next month in October.

Diamond Drilling from the Stringbean Alley Decline is planned for up to 2,500m of HQ size core using metric tooling and will operate 24/7 for the duration of the programme.

Here is a picture from our site visit at the entrance to that decline:

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.

HAR’s project already has a 286,000 oz non-JORC gold resource at 9.28g/t and a processing plant on site.

(plus 2008 data showing it might be up to ~682,000 ounces, more on this below)

With this next round of drilling, HAR will be looking to convert these historic resources into JORC compliance (before the end of the year).

HAR plans to drill 24/7 using a Gen 2 underground diamond drilling rig similar to the one in the image below:

(Image of the type of drill rig to be used from the announcement)

HAR will be following up previous hits that came back at 1.2m with average gold grades of 108g/t gold and 3.7m at 108.7g/t gold…

Given HAR will be doing diamond drilling, between now and assay results we could also see visuals (assuming HAR is able to intercept them).

We are also looking to see what happens at HAR’s Senegal gold project

Recently HAR released positive drill results from a shallow aircore program at its project in Senegal that we covered here.

The drilling hit an intercept of 20m with average gold grades of ~6.54g/t from only 12m depths.

The main reason we are Invested in HAR is still for its US gold project - but with the gold price at all time highs near US$3800/oz, we think it's well worth following up those results from HAR’s project in Senegal.

HAR a fortnight ago announced plans to fastrack a drilling program that we covered here.

Planning 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 are positive, then HAR can test all of the anomalies that trend toward the south-west (marked as red spots in the image below):

(Source)