Haranga Strikes High-Grade Gold in Senegal Drilling

Our gold Investment Haranga Resources (ASX: HAR) has just released drilling results from its project in Senegal.

HAR put out results from a 2,000m air core drill program and hit some pretty solid gold intercepts including a big 20m hit with average gold grades of ~6.54g/t from only 12m depths.

We are still mainly Invested in HAR to see it drill its US gold project, but with gold trading at all time highs and looking like it wants to run to US$4,000 per ounce especially when they are showing results that are worth following up.

You just never know what you can find until the drill bit reveals the results - and in HAR’s case with today’s announcement there is definitely enough to warrant coming back and drilling this project again.

The market also liked the result, HAR is up over 20% at the time we are writing this:

In terms of expectations, today’s results are way above what we were expecting from this drill program, but it is still very early days for the project...

We are looking forward to seeing HAR drill this part of the project in particular:

HAR said that the next phase of work on the project would start in Q4 so we wont have to wait long to see what else HAR can find here.

An update on the US gold asset

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

HAR recently completed the acquisition of the Lincoln project in California’s “motherlode region” in the centre of the original Californian gold rush.

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.

Drilling is scheduled to start soon once access can be gained while dewatering is continuing to progress which the company gave an update on earlier this week

The aim is to also convert the resource to become JORC compliant by the end of the year.

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.