Haranga Confirms 800m Gold Trend at Ibel South With System Open at Depth

Haranga confirms 800m gold trend at Ibel South

Haranga Resources has identified a potential continuous mineralised gold trend exceeding 800 metres at TMS Anomaly 3, Ibel South Gold Project, Senegal, following Phase 2 aircore drilling. The discovery represents only ~800m of strike length tested within a broader ~5km gold anomalous corridor, with mineralisation remaining open at depth and along strike. Drilling depths ranged from 25m to 85m, highlighting the early-stage nature of the system.

Phase 2 comprised 65 holes totalling 3,197 metres, designed to infill between Phase 1 drill fences and extend coverage into areas previously inaccessible during the wet season. The shallow drilling targeted the supergene profile and upper bedrock levels to improve geological understanding ahead of deeper drilling. Several holes ended in mineralisation, indicating the system extends into fresh bedrock yet to be tested.

Understanding orogenic gold systems

The Ibel South discovery sits within Birimian orogenic gold systems of the Kedougou-Kéniéba Inlier in Senegal, a geological setting that hosts several major deposits including Massawa and Douta. Orogenic gold systems form when tectonic forces drive gold-rich fluids through shear zones and fractures in rock, depositing gold where fluid pressure drops or chemical conditions change.

At Ibel South, mineralisation is hosted in altered greywacke — a type of sandstone — characterised by quartz veining, albite-epidote alteration, silicification, and disseminated to vein-hosted pyrite (iron sulphide). This alteration style is a geological fingerprint of orogenic gold systems and indicates the rock has been chemically modified by gold-bearing fluids. The geological similarities to nearby major deposits support the prospectivity of the system, suggesting potential for economic mineralisation at depth.

Phase 2 drilling results

Phase 2 assay results, reported on a 4m composite basis using a 0.3g/t Au reporting cut-off, confirm wide, continuous mineralisation intervals across the drilled area. Multiple holes returned significant intercepts, with several ending in mineralisation, indicating the system remains open at depth. Single-metre assays corresponding to anomalous composites have been submitted to the laboratory for analysis.

The results confirm the lateral extent of the mineralised system and validate the exploration model established in Phase 1, supporting the case for deeper follow-up drilling to test continuity into fresh bedrock.

Structural controls point to higher-grade targets

Interpreted cross-faulting

A review of drill data indicates flexures in the mineralised trend, suggesting possible cross-faulting. Phase 1 high-grade zones exhibited increased fracturing and deeper oxidation compared to Phase 2, indicating greater structural activity. This structural interpretation provides a geological model for targeting higher-grade dilation zones — areas where faulting has created space for concentrated gold deposition.

Metal factor analysis, which integrates grade and interval length into a single value per drillhole, illustrates the spatial distribution of gold mineralisation across the drilled area. The structural model supports depth continuity of Phase 1 high-grade zones and suggests the interpreted faulting may extend into untested TMS anomalies to the northwest, providing clear drill targets for the next phase.

Phase 1 context

Phase 1 aircore drilling returned standout high-grade intercepts (reported on a 1m sampling basis), contextualising Phase 2 results within a broader mineralised system:

• 25-IBS-AC-008: 20m @ 6.00g/t Au from 12m (including 4m @ 14.16g/t Au)
• 25-IBS-AC-016: 12m @ 6.12g/t Au from 42m (including 7m @ 10.05g/t Au)
• 25-IBS-AC-017: 7m @ 9.06g/t Au from 7m
• 25-IBS-AC-033: 1m @ 28.93g/t Au from 23m

Phase 2 results demonstrate that Phase 1 high grades sit within a laterally extensive, structurally controlled orogenic gold system, strengthening the case for deeper drilling to test primary mineralisation in fresh bedrock.

Geological observations support scale potential

AC drilling intersected a consistent weathering profile comprising laterite (4-8m thick), saprolite (up to ~70m in the central portion), then fresh bedrock. Bedrock lithologies are dominated by greywacke comparable to the Mako Supergroup, which hosts several major gold deposits in Senegal including Massawa and Douta.

Large mineralised quartz veins were intersected in the supergene profile, locally reaching 15-20m apparent thickness, but have not yet been intersected in bedrock. Gold grades correlate with pyrite development intensity, with sulphide concentrations locally estimated at 5-10%. Widespread hydrothermal alteration includes bleaching, silicification, and development of grey and pink albite and green epidote, consistent with orogenic gold systems.

Variations in saprolite thickness and composition suggest parts of the weathered profile may be transported or displaced during supergene dissolution, potentially obscuring the true geometry of underlying bedrock-hosted mineralisation. This reinforces the need for deeper drilling to properly assess the scale and geometry of the primary system.

Next steps and drilling timeline

Haranga plans to commence further drilling in Q1 CY2026 (calendar year 2026), subject to approvals. The programme comprises three components:

1. Test Priority 1 and Priority 2 TMS anomalies (currently untested)
2. Drill potential cross-fault sites within northwest TMS anomalism
3. Additional drilling of the Phase 1 high-grade zone targeting fresh bedrock beneath supergene cover, interpreted structural corridors, and down-dip and along-strike extensions of mineralisation identified through the Phase 1 and Phase 2 AC drilling programs

Peter Batten, Managing Director

“Phase 2 drilling has delivered an important outcome by confirming a laterally extensive, structurally controlled orogenic gold system with potential continuity of more than 800 metres of strike and which remains open at depth and along strike.”

Near-term catalysts include commencement of deeper drilling and first-pass testing of additional priority anomalies along the 5km corridor, providing multiple opportunities to expand the mineralised footprint.

Investment considerations

Haranga is positioned as an early-stage gold explorer with a newly defined 800m+ mineralised trend in a proven West African gold belt. Only ~800m of the ~5km anomalous corridor has been tested, representing significant expansion potential along strike and at depth. The structural interpretation provides clear vectors for targeting higher-grade zones, a key value driver for exploration success.

Beyond Ibel South, Haranga holds the Saraya Uranium Project, which hosts 14.5Mt @ 550ppm eU3O8 for 17.6 Mlbs contained eU3O8 (Indicated and Inferred), and the Lincoln Gold Project in California. This portfolio diversification across jurisdictions and commodities provides multiple value drivers and de-risks single-asset exposure.

The combination of a newly defined gold system in a proven West African gold belt, clear structural targets for follow-up drilling, and dual commodity exposure across gold and uranium positions Haranga for potential value re-rating as exploration progresses.

Ready to Learn More About Haranga’s 800m Gold Discovery?

Haranga’s Phase 2 results have confirmed a laterally extensive orogenic gold system at Ibel South, with only ~800m of a ~5km anomalous corridor tested to date. The discovery remains open at depth and along strike, with clear structural targets identified for follow-up drilling in Q1 CY2026.

To explore Haranga’s full project portfolio across gold and uranium, including detailed technical reports and upcoming drilling programmes, visit the Haranga Resources investor centre.