New Ore Body Discovered at the Senegal Ibernan Gold Mine

According to Mining Weekly, Haranga Resources, which is listed on both the Australian Securities Exchange and the Frankfurt Stock Exchange, has confirmed the presence of a strongly mineralized gold ore system laterally at Ibel South in southeastern Senegal through its second-phase aircore drilling program.

The results indicate that the ore body extends over 800 meters along strike, remains open at depth and along strike, and holds potential for further discoveries.

The second-phase drilling is part of a systematic exploration program aimed at defining the shape, extension, and controls of the gold ore body initially identified by previous surface geochemical and drilling programs.

"The second-phase drilling yielded significant results, confirming a laterally extensive, structurally controlled orogenic gold system extending over 800 meters along strike and remaining open at depth and along strike," stated company manager Peter Batten on January 12.

The first-phase drilling at Ibel South was the initial drilling campaign following the detection of anomalies in termite mound sampling.

"The success of the first phase was expected, with good grades and thicknesses observed. The ore body intersected in the second-phase reverse circulation drilling resembles the West African Birimian gold deposits in the region, and the presence of quartz veins suggests that a structural unit may indicate an expansion zone in the ore body encountered during the first phase," Batten noted.

The second-phase drilling intersected several zones of thick and continuous mineralization.

Key intersections include:

◎ Hole 25-IBS-AC-063 intersected 16 meters of ore at 4 meters depth, grading 1.08 grams per mt of gold, including 4 meters at 12 meters depth grading 1.4 grams per mt;

◎ Hole 25-IBS-AC-062 intersected 24 meters of ore at 32 meters depth, grading 0.88 grams per mt of gold, including 12 meters at 32 meters depth grading 1.34 grams per mt;

◎ Hole 25-IBS-AC-105 intersected 18 meters of ore at 8 meters depth, grading 0.43 grams per mt of gold, including 6 meters at 20 meters depth grading 0.53 grams per mt.

Several holes ended in mineralization, indicating potential extensions at depth.

Further analysis of drill core logging is underway, including resampling of selected holes and additional multi-element analysis, particularly for arsenic concentration. A review of drilling data suggests that bends in the ore body along strike may indicate the presence of cross faults, which could help identify high-grade sections.

"The next phase of drilling is expected to focus on testing deep targets beneath the high-grade sections discovered in the first phase and conducting initial drilling on the untested Priority 1 and Priority 2 termite mound geochemical anomalies," Batten said.

The mineralization at Yiber South is consistent with Birimian orogenic gold systems, hosted in altered rocks and quartz veins, with albite-epidote alteration, silicification, quartz veining, and disseminated-to-massive pyrite.

The entire anomalous zone extends approximately 5 km in length and reaches depths of 25-85 meters. To date, the company has only tested an 800-meter strike length.

Haranga Resources Company plans to commence follow-up drilling starting in Q1 2026, after obtaining the necessary permits. The program is expected to include delineation of the high-grade ore bodies discovered in the first phase, as well as initial drilling at the prioritized Targets 1 and 2 termite mound anomalies.

The company stated that the second phase of drilling will further elucidate the structure and continuity of the mineralized system, providing a basis for Haranga's deeper drilling to determine the scale, grade distribution, and structural controls of the gold ore bodies at the Yiber South project.