Haranga Resources Reports 32m at 10.4g/t Gold in First Phase Two Hole at Lincoln

Haranga Resources has intersected 32 metres at 10.4 grams per tonne gold in the first hole of its second-phase underground drilling at the Lincoln gold project in California, the company said. The intersection began 143 metres downhole and included 13 individual assays above 10g/t gold, with a peak one-metre sample returning 51.4g/t, according to TradingView.

Haranga's Phase Two Drilling at Lincoln

The 32-metre intercept is an uphole length and its true width remains undetermined. The result points to potential continuity between previously modelled narrower mineralised zones in the southern Lincoln resource.

The 16-hole program is concentrating on the southern Lincoln deposit and a relatively under-drilled area between the Lincoln and Comet mineralised zones. More than half of the planned 1,500 metres has been completed, with drilling scheduled to finish in early November as Haranga Resources works to increase confidence in the existing gold resource.

Lincoln has a mineral resource estimate of 2.46 million tonnes at 5.1g/t gold for 402,000 ounces, with 77% of its contained gold classified as Inferred. Haranga wants to convert part of that Inferred inventory to the higher-confidence Indicated category to support mine planning and a preliminary feasibility study that could underpin future Ore Reserves.

"Our priority with this program is to improve resource confidence needed for mine planning and potential Ore Reserve estimation as part of a planned PFS," managing director Patrick Mutz said. "This drilling program is an important prerequisite to the technical work which we continue to advance while also working to finalise our broader re-development strategy for Lincoln."

Drilling resumed from the XC11 underground level after dewatering of the Stringbean Alley decline and restoration of services made the area accessible again. That work began in September 2025 and finished in September this year, allowing drilling from XC11 to commence on 17 September. The team is completing the final scheduled hole at that level before moving back towards XC10 and XC9, where shorter fan holes will investigate gaps between the Lincoln and Comet zones. No underground drilling has previously been completed from XC10.

Lincoln's Resource Base and Sunk Capital

Haranga announced a maiden JORC mineral resource of 402,000 ounces at 5.1g/t gold for Lincoln in June 2026, according to akta.pro company records. The same records state the Lincoln Comet project has over A$90 million in sunk capital invested, including a fully permitted 315ktpa processing plant, 1,780 metres of underground decline and level development, offices, and a workshop.

Mutz's Appointment and Lincoln Expansion

Haranga appointed Patrick Mutz as CEO effective September 1, 2026, bringing 30 years of development-cycle experience, Mining Weekly reported. He previously led Image Resources and other ASX-listed firms.

In August 2026, Haranga acquired surface and mineral rights for two contiguous properties totaling 60 acres adjacent to its Lincoln gold project in California's Mother Lode region, Mining Weekly reported. In May 2026, Haranga reported a 4.8m gold intercept at 25.4g/t, including 2.4m at 48.84g/t, from its Lincoln project, The Sydney Morning Herald reported.

South Spring Hill Assessment Timeline

A separate assessment is examining whether the South Spring Hill Exploration Target can be converted into an Inferred mineral resource without further drilling, with an outcome expected late in the fourth quarter. That conceptual target ranges from 1.16Mt to 1.64Mt at 5.4g/t to 5.8g/t gold for between 202,000 and 308,000 ounces, using a 2g/t cut-off grade.