Haranga Resources (ASX:HAR) has finalised the acquisition of the Lincoln Gold Project in California, US, after completing due diligence.
The Lincoln Project, totalling 322 hectares, covers a strike length of the Mother Lode with 5.8km between Sutter Creek and Amador City. The project has a gold resource of 286,000 ounces @ 9.3 grams per tonne gold in the indicated and inferred category.
In March 2025, Haranga entered into a binding share sale agreement with Seduli Holdings, in which Haranga will issue 40 million upfront shares to the company.
As part of the deal, Haranga will issue $965,000 worth of shares to Seduli’s existing debt holders, as well as 10 million shares to the parties that introduced the transaction to the company.
Haranga, which has a market capitalisation of $17.6 million, is now preparing for a maiden drilling program at Lincoln which will be conducted in mid-September 2025, subject to necessary works being completed.
The company aims to deliver a resource estimate that is JORC compliant before the end of 2025.
Haranga Resources is an Africa-focused multi-commodity explorer that owns the Saraya Uranium Project in Senegal, as well as gold-prospective Ibel-South permit in Senegal.
Write to Aaliyah Rogan at Mining.com.au
Images: Haranga Resources
