Haranga Resources Intersects 32m at 10.4g/t Gold in First Phase 2 Lincoln Hole
Key Takeaways
- DDH0294, the first underground Phase 2 hole at Lincoln, returned 32m at 10.4g/t Au from 143m, with 13 assays above 10g/t Au and a peak of 1m at 51.4g/t Au.
- The intercept is uphole length with true width yet to be determined, and the company says it may merge two previously independent modelled lode shapes.
- 77% of the 402,000oz JORC resource is Inferred, and Phase 2 is aimed at lifting confidence to support mine planning and potential Ore Reserves under a PFS.
- More than half of the 1,500m Phase 2 program is drilled, with completion expected in early November 2026.
- The South Spring Hill Exploration Target of 202-308koz could convert to an Inferred Resource without further drilling, with the outcome expected in late Q4 CY2026.
First Phase 2 hole at Lincoln returns 32m at 10.4g/t Au
Drill results can look impressive and still tell you little. This one is worth a closer read. Haranga Resources reported that DDH0294, the first underground Phase 2 diamond hole at the Lincoln Gold Project in California’s Mother Lode Gold Belt, returned 32m at 10.4g/t Au from 143m, a high-grade gold result.
The highlighted interval included 13 assays above 10g/t Au, with a peak of 1m at 51.4g/t Au. The intercept is reported as uphole length, not true width, and the true width is still to be determined. According to the company, the outcome enhances and potentially merges thinner modelled zones in the vicinity.
More than half of the planned Phase 2 metres have now been drilled. Program completion is anticipated in early November 2026.
Patrick Mutz, Managing Director & CEO
“The Phase 2 drilling program is off to a strong start with the first hole returning a substantial high-grade intersection in the southern part of the Lincoln Resource. Our priority with this program is to improve resource confidence needed for mine planning and potential Ore Reserve estimation as part of a planned Pre-Feasibility Study…”
When big ASX news breaks, our subscribers know first
What did DDH0294 actually intersect?
Four mineralised intervals were reported in DDH0294, all from the XC11 crosscut (a horizontal underground tunnel used as a drilling platform). The 32m interval is the standout, and the table below reproduces the company’s figures.
Key intercepts
| From (m) | To (m) | Interval (m) | Grade (g/t Au) | Crosscut |
|---|---|---|---|---|
| 75.4 | 77.4 | 2 | 4.46 | XC11 |
| 143 | 175 | 32 | **10.41** | XC11 |
| 185.1 | 188.5 | 3.4 | 2.16 | XC11 |
| 192.1 | 194 | 1.9 | 1.74 | XC11 |
The company reported these results using a 1.0g/t Au cut-off, a minimum interval length of 1.8m and maximum internal dilution of 2.0m.
What it means
According to the company, the mineralisation starts within, and potentially combines, two previously independent lode shapes before exiting at the modelled position. For you, that suggests the existing model may be underestimating how connected this part of the deposit is.
Intervals from DDH0294 to DDH0298 are oblique to mineralisation because of access constraints, so they cannot be considered indicative of true width.
Phase 2 program: building resource confidence
Phase 2 is designed to firm up what Haranga already believes is there. The primary aim is improving resource confidence rather than simply chasing new ounces.
Program snapshot
- 16 HQ diamond holes for 1,500m in total (DDH0294 to DDH0309).
- Targets the southern portion of the Lincoln Resource and an under-drilled area between the Lincoln and Comet zones.
- Drilling began at XC11 on 17 September with DDH0294, and DDH0299 is the last planned Phase 2 hole at XC11.
- The rig will then retreat to XC10 and XC9 to complete shorter fan holes. No underground drilling has previously been completed from XC10.
- Dewatering of the underground workings began in September 2025 and was completed in September 2026, which restored access along the Stringbean Alley decline.
Current Mineral Resource Estimate
The resource below was reported on 25 May 2026 under the JORC Code, at a 2.0g/t Au cut-off. A JORC resource is a formally classified estimate of mineralisation, graded by how confident the geology is.
| Area | Classification | Tonnage | Grade (g/t Au) | Ounces Au |
|---|---|---|---|---|
| Lincoln-Comet | Indicated | 429,000t | 6.6 | 91,000 |
| Lincoln-Comet | Inferred | 1,068,000t | 5.4 | 184,000 |
| Medean | Inferred | 961,000t | 4.1 | 127,000 |
| **Total** | **2,459,000t** | **5.1** | **402,000** |
Of the contained gold ounces, 77% are classified as Inferred. That is the gap Phase 2 is designed to narrow.
Why does Inferred to Indicated matter?
Resource categories signal how much trust you can place in the numbers. Inferred means lower geological confidence, while Indicated is higher.
Per the JORC Code 2012, Indicated Resources are the minimum classification of Mineral Resources that can be converted to Ore Reserves, with the completion of a minimum of a Preliminary Feasibility Study (PFS). Ore Reserves are the portion of a resource shown to be economically mineable.
Haranga has decided to fold Scoping Study workstreams, and previous Scoping work, into the PFS to reduce the overall study time for Lincoln.
For investors, the company’s stated logic is that higher resource confidence strengthens Lincoln’s technical foundation and supports mine planning. The company also links the drilling to attracting project development financing options. The announcement does not disclose any financing amounts.
The next major ASX story will hit our subscribers first
What are the growth options and next catalysts?
Haranga is assessing whether the South Spring Hill Exploration Target of 1.16-1.64Mt at 5.4-5.8g/t Au for 202-308koz Au (2.0g/t Au cut-off) could convert to an Inferred Mineral Resource Estimate without the need for further drilling. All available contributing core and pulps for historical drill data have been submitted to ALS laboratory in Reno, and the outcome is expected in late Q4 CY2026.
The company’s cautionary statement applies: the potential quantity and grade of the Exploration Target is conceptual in nature, and it is uncertain if further exploration will result in the estimation of a Mineral Resource. Haranga is also investigating additional Exploration Targets at Old Lincoln, Wildman-Mahoney and Keystone Deeps.
On assay quality, Haranga will shortly take receipt of replicate Phase 1 assays of high-grade screen fire results, tested by Chrysos PhotonAssay™. A previous check of selected high-grade screen fire results showed correlation of between 94-102%.
The catalysts to watch include:
- Remaining Phase 2 drilling results.
- Chrysos PhotonAssay™ replicate results, which the company expects to report shortly.
- The South Spring Hill conversion outcome, expected in late Q4 CY2026.
- Information on strategic plans for the re-development of the Lincoln Project.
On permitting and infrastructure, the Exploration Target sits within claims that have underground accesses, a conditional use permit that allows production of gold, and a mill circuit which produced gold as recently as 2022.
Don’t Miss the Next ASX Gold Breakout
Get FREE breaking ASX gold news delivered to your inbox within minutes of release, complete with in-depth analysis. Join 30,000+ investors already using Big News Blast to stay ahead of the market. Click the “Free Alerts” button now and see market-moving announcements the moment they break.