Haranga Resources (ASX: HAR) Hits 32 Metres at 10.4g/t Gold at Lincoln

Haranga Resources has reported a high-grade gold intersection from the first hole of its Phase 2 underground drilling program at the Lincoln Gold Project in California, providing an early boost to work aimed at increasing confidence in the project’s resource.

Hole DDH0294 returned 32 metres at 10.4 grams per tonne gold from 143 metres. The interval included 13 assays above 10 grams per tonne, with a peak result of one metre at 51.4 grams per tonne.

The reported interval is an uphole length rather than true width. Drilling from the XC11 underground position is necessarily oblique to the mineralisation because of access constraints, and Haranga said the true width remains to be determined. Mineralised lodes at Lincoln are typically between 0.5 and six metres in true width, although greater local widths can occur.

The company said the intersection begins within, and may connect, two lodes previously modelled as separate zones before exiting mineralisation near the modelled position. That interpretation will require further drilling and geological modelling.

Building confidence ahead of feasibility work

The 16-hole, 1,500-metre Phase 2 program is focused on the southern Lincoln resource and an under-drilled area between the Lincoln and Comet zones. Its main purpose is to support the potential reclassification of Inferred Mineral Resources to the higher-confidence Indicated category.

Lincoln currently contains a Mineral Resource Estimate of 2.46 million tonnes at 5.1 grams per tonne gold for 402,000 ounces, reported at a two grams per tonne cut-off. About 77% of contained gold is classified as Inferred, while 23% is Indicated.

Improving that mix matters to Haranga’s development plans because Indicated Resources are the minimum resource category that can be converted to Ore Reserves following completion of at least a preliminary feasibility study. Haranga has decided to incorporate its scoping study work into a planned preliminary feasibility study.

Phase 2 drilling is more than 50% complete and is expected to finish in early November 2026. The company was completing the final planned XC11 hole at the time of the announcement, before moving to shorter fan holes from the XC10 and XC9 underground positions. No previous underground drilling has been completed from XC10.

Access to XC11 followed a year-long dewatering campaign that began in September 2025 and was completed in September 2026.

Additional resource work underway

Haranga is separately assessing whether its South Spring Hill Exploration Target can be converted to an Inferred Mineral Resource without further drilling. The conceptual target ranges from 1.16 million to 1.64 million tonnes at 5.4 to 5.8 grams per tonne gold, containing an estimated 202,000 to 308,000 ounces.

That target is not a Mineral Resource, and there is insufficient exploration to estimate one at present. Haranga expects to report the assessment in late December-quarter 2026 after submitting available historical core and pulps for laboratory analysis.