HAR to start drilling US gold project this month

Our Investment Haranga Resources (ASX: HAR) just confirmed drilling at its Gold Project in California is on track to restart this month.

Back in May HAR delivered a maiden JORC resource of 402koz at 5.1g/t gold on the project.

That was off the back of HAR’s first drill program on its project.

Now, HAR will run its second round of drilling for a ~1,600m, 16-hole program looking to fill the gaps between its current resource:

(source)

Drilling form down at these deeper levels can now happen soon because dewatering of the 900m underground decline is nearly complete, with pumping now happening below the final cross cut:

(source)

Power, ventilation and underground services are expected to be fully restored by mid-August.

(source)

Once that happens, drilling contractor Swick (which completed HAR's Phase 1 program earlier this year) will mobilise a rig from Nevada, with drilling planned to start in late August.

A bigger resource could be coming by the end of the year

The drilling is only one part of the resource growth story here.

HAR is also looking at converting most of its South Spring Hill Exploration Target (a conceptual 202koz to 308koz of gold) into an Inferred resource, potentially this quarter.

(That target is conceptual in nature, and there is no guarantee further exploration will deliver a resource there.)

If it all comes together, HAR plans an updated JORC resource for the whole project in Q4 this year.

Restart studies are running in parallel

While the drill program ramps up, HAR is running mining and milling studies to cost a restart of the existing mill, which is permitted to run at up to ~907 tonnes per day under its operating permit.

So it doesn’t need to obtain permits to get things underway here and is planning to use all of the permitted allowance.

Consultants were on site in July working through the plant audit and flowsheet.

(source)

In some other updates, HAR is also:

• Interviewing Managing Director candidates,
• Weighing a potential divestment of its Saraya uranium asset in Senegal, and
• Progressing its name change to American West Gold (under ASX code AWG).

So there are plenty of moving parts, but the near-term catalyst we are watching is the drill rig turning in late August.

What's Next for HAR?

🔄 Phase 2 underground drilling at US asset (mid-2026)

HAR has flagged that a phase 2 drilling program is planned to commence late August. (source)

We are especially looking forward to the deeper drilling below the current resource and toward the Comet mineralisation.

We have already seen hole #280 and #281 from the last round of drilling hit gold well below the existing decline - with the next round we should know if those were isolated OR part of bigger structures at depth.

Remember there have been mines running down to ~2km in this part of California:

(source - HAR presentation November 2025)

🔄 3x more exploration targets (H2 CY26)

HAR also mentioned in a recent announcement that it was working on an exploration target across three of its other targets:

1. Old Lincoln
2. Wildman / Mahoney
3. Keystone Deeps

All three sit on the same 6km strike as the current resource.

All three have historical workings, historical drilling, and historical sampling data.

(source)(source)

🔄 Scoping study for a ~315 ktpa mining operation

HAR’s prior presentation said it would start identifying items to replace/upgrade and the big one “provide an indicative start-up cost”:

(source)

This will be the first time we get a look at any capital costs required to bring the processing plant (and associated project infrastructure back online).

✅ Senegal drilling results

HAR has now finished drilling its asset in Senegal with a deeper RC rig and released the results. (source)

Here are the milestones we are tracking for the Senegal asset:

• ✅ Drilling started
• ✅ Drilling completed
• ✅ Assay results (today)
• 🔄 Decision to come back and do more drilling (permit renewal process underway, all geological data to be reviewed for drill planning) (source)