Haranga Confirms 800m Gold Corridor at Ibel South With Most Targets Untested

Haranga confirms 800m gold mineralisation corridor at Ibel South

Haranga Resources has confirmed a potential >800m continuous mineralised gold trend at TMS Anomaly 3, Ibel South Gold Project, Senegal. Phase 2 aircore drilling — comprising 65 holes for 3,197 metres drilled between 6-20 November 2025 — extends the mineralised system identified in Phase 1. Mineralisation remains open at depth and along strike. Drilling was completed on time and within budget.

The systematic expansion of a gold discovery in Senegal’s prolific Kéniéba Inlier adds scale to the exploration asset and provides multiple targets for follow-up work.

Phase 2 drill results confirm wide gold intercepts

Phase 2 assay results are reported on a 4m composite basis using a reporting cut-off grade of 0.3g/t Au. Multiple continuous intercepts above the cut-off were returned across several drill lines, confirming lateral continuity of the gold system. Several holes ended in mineralisation, indicating the system extends at depth.

Wide, continuous intercepts support the interpretation of a laterally extensive gold system with economic potential. The consistency of results across multiple drill fences reinforces confidence in the scale of the discovery.

What is orogenic gold mineralisation?

Orogenic gold systems are structurally controlled deposits formed during mountain-building events. Gold is typically hosted along shear zones and faults, where tectonic forces create pathways for mineralising fluids. The characteristic alteration signatures include quartz veining, silicification, albite-epidote alteration, and pyrite mineralisation.

The Birimian greenstone belts of West Africa host multiple multi-million ounce gold deposits using this geological model. Understanding the deposit type helps investors appreciate why structural analysis — identifying faults and flexures — is critical to targeting higher-grade zones.

Structural analysis reveals potential high-grade targeting opportunity

Review of drilling data suggests flexures in the mineralised trend, indicating possible cross-faulting. Phase 1 drilling showed deeper oxidation and higher fracturing in high-grade zones compared to Phase 2, consistent with increased structural activity. Metal factor analysis — integrating grade and interval length — highlights laterally extensive mineralisation. This structural model will guide targeting for potential higher-grade zones.

Key observations:

• Flexures and possible cross-faulting identified in the mineralised trend
• Phase 1 high-grade zones showed increased structural activity (fracturing, deeper oxidation)
• Mineralised trend mirrors gridded TMS geochemistry data

Structural controls often concentrate gold grades. Identifying fault intersections provides high-priority drill targets for the next phase and increases the probability of discovering higher-grade zones within the broader mineralised corridor.

Regional geological context supports prospectivity

Bedrock lithology at Ibel South comprises dark greywacke comparable to the Mako Supergroup, which hosts major Senegalese gold deposits including Massawa and Douta. The mineralisation style is consistent with Birimian-aged orogenic gold systems. Large quartz veins — with apparent thickness of 15-20m in the supergene profile — have been intersected but not yet in bedrock. Several holes ended in mineralised altered greywacke, reinforcing the need for deeper drilling.

Geological parameters:

• Laterite thickness: 4-8m
• Saprolite locally reaches ~70m depth
• Quartz veins up to 15-20m apparent thickness

The geological setting, comparable to proven major gold deposits in the region, enhances the prospectivity of the Ibel South project and supports the thesis that mineralisation may extend to significant depths.

Only a fraction of the anomalous corridor tested to date

Combined Phase 1 and Phase 2 drilling has tested only ~800m of strike within a broader ~5km gold anomalous corridor defined by termite mound geochemistry. Drilling depth ranged from 25m to 85m — shallow testing only. Multiple Priority 1 and Priority 2 TMS anomalies remain completely untested.

Significant exploration upside remains. Approximately 800-850m of strike has been tested within a broader ~5km anomalous corridor, providing multiple untested targets for future work and the potential to materially expand the known mineralised system.

Next steps and Q1 CY2026 drilling plans

Haranga plans to commence further drilling in Q1 CY2026 subject to approvals. The three-pronged drilling programme will focus on:

1. First-pass drilling of Priority 1 and Priority 2 TMS anomalies (untested surface geochemical targets)
2. Drill potential cross-fault sites within northwest TMS anomalism (targeting structural intersections)
3. Additional drilling of Phase 1 high-grade zone targeting fresh bedrock beneath supergene cover

Geological relogging is underway to refine the structural model ahead of the next drilling campaign.

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.”

Clear near-term catalysts with multiple drill targets and defined timelines provide visibility on upcoming newsflow and multiple opportunities to extend the discovery.

Investment thesis — de-risking a multi-target gold system

The Phase 2 results matter for investors because they:

1. Confirm lateral extent of mineralisation (>800m strike)
2. Identify structural controls that may host higher-grade zones
3. Provide multiple untested anomalies for exploration upside
4. Demonstrate geological setting analogous to major regional deposits

Haranga’s dual-asset strategy — Ibel South in Senegal complementing the Lincoln Gold Project in California — provides diversification across proven gold jurisdictions.

Systematic exploration is progressively de-risking a gold discovery in a proven gold-producing region, with multiple catalysts ahead in Q1 CY2026. The combination of wide intercepts, structural targeting opportunities, and significant untested strike positions Ibel South as a material exploration asset with clear paths to resource growth.

Want to Track Haranga’s Next Drill Campaign at Ibel South?

With over 4km of strike length still untested along the 5km gold corridor, Haranga’s Q1 CY2026 drilling programme could deliver multiple discovery catalysts. The company plans to test high-priority geochemical anomalies and potential structural intersections that may host higher-grade zones.

To access detailed drill results, geological maps, and upcoming exploration milestones, visit Haranga’s investor centre. Stay informed on newsflow as the company systematically expands this emerging orogenic gold system in Senegal’s prolific Kéniéba Inlier.