Haranga Resources (ASX: HAR) has confirmed good continuity and encouraging initial core results from the early stages of a 2,000-metre drilling campaign at the Lincoln project in California’s Mother Lode gold belt.
The campaign is aiming to test the underground orebodies with the objective of validating original data used for the non-compliant 2015 resource estimate and assess its suitability for conversion to a compliant JORC estimate.
Drilling of 10 holes for a total 760.5m at the underground crosscut 4 (XC4) target is nearing completion, and geological observations have been consistent with the project’s expected lode structures.
Activities to date have been centred on the periphery of the current non-compliant estimate which totals 958,910 tonnes at 9.29 grams per tonne gold for 286,000 ounces at a 4.2g/t cut-off.
XC5 Target Drilling
Haranga is preparing to drill four holes for 340m at the XC5 target, which is currently being drained after recent rainfall created a short-term rise in underground water levels.
The company expects to re-establish access to the area in the coming days, and anticipates moving seamlessly to XC5 following the completion of drilling at XC4.
Targets XC6-XC8 should drain more rapidly than targets XC3-XC5, due to the upper development drives having already been dewatered.
Haranga will then complete an updated and compliant mineral resource estimate in the weeks following the receipt of assays from XC3-XC8.
Noting the delay from the timetable it had originally set out, the company said it would provide a further update on expected timing – including laboratory assay turnaround times – once greater clarity became available.
Strong Early Results
Managing director Peter Batten said the Lincoln campaign had produced strong early results.
“This project benefits from extensive decline access which allows us to drill directly into the mineralised system and continues to materially de-risk our current drilling program and the broader development pathway for Lincoln,” he said.
“Our initial work is designed to spatially test the database and derive results from regular points in the mineralised system, while subsequent drilling will target higher-grade and wider sections of the deposit to assess nugget effects, followed by deeper holes to explore for extensions or repetitions beneath the known mineralisation.”
Initial PhotonAssay test work has provided technical validation of the company’s sampling and analytical approach and confirmed the high-grade nature of the project.
“With gold prices continuing to reach record highs, this is an opportune environment for us to advance a quality asset such as Lincoln and we remain focused on progressing the project towards the delivery of a maiden JORC resource,” Mr Batten added.
