HAR to start RC drilling at high-grade gold project in Senegal
Our gold Investment Haranga Resources (ASX: HAR) just announced a 4,000m RC drilling program at its Gold Project in Senegal, scheduled to start in early April.
With the new drilling, HAR will be following up the hits from last year where aircore drilling hit 20m at 6.0g/t gold from 12m…
That was the result that started HAR’s run from ~6c to a high of ~20c including the reassay of those results to 1m intervals):
So far HAR has defined gold across ~800m of strike within a broader ~5km anomalous corridor - and all of the drilling has been shallow aircore holes.
(source)
The upcoming RC drilling will go down to 260-300m - ~10x deeper than the previous aircore holes AND will test three different areas:
(source)
We think the deeper drilling will be when we find out IF those hits from the aircore program were isolated pockets of high grade gold OR part of a bigger gold system.
What else is HAR up to?
HAR is also drilling at its US gold project that it acquired last year, the “Mother Lode” which sits in the epicentre of the original Californian gold rush.
HAR recently expanded the drill program from 30 to 40 holes confirming that the geology seen matches the interpreted historic resource for the project.
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)
Most of HAR's 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.
See our latest take on the US asset here: HAR: Going for fast, high grade gold production in the USA - gold’s wild ride continues.
What's next for HAR?
🔄 RC drilling on Senegal asset (starting later this month)
The main event. 15 holes for ~4,000m initially, with potential to expand to ~22 holes (~6,400m) depending on results.
🔄 Drilling at US Gold Project (ongoing right now)
HAR is also running a concurrent drilling program at Lincoln - its primary asset in the USA.
HAR’s project already has a non-JORC resource of ~286koz at 9.29g/t gold, plus a recently defined exploration target at South Spring Hill.
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)
HAR is targeting a maiden JORC resource on the project before the end of April (source).
