Haranga upgrades 37% or 6.04Mlbs at 752ppm eU3O8 of the Haranga Resource to the higher confidence Indicated category
About 80% of the resource is contained within 140m of surface, making it amenable to open pit mining
Resource is open along strike, down-dip and down-plunge
Further upgrade expected following receipt of laboratory assays from 29 RC holes
Special Report: Haranga Resources has substantially increased the confidence of its Saraya uranium resources in Senegal with more than a third of it – 6.04Mlbs at 752ppm eU3O8 – now included in the Indicated category.
The definition of the Indicated resource, which provides enough certainty for mine planning, is based on a database containing data from 519 historical drillholes, together with data from the company’s recent drilling of 22 diamond and 29 reverse circulation holes.
It highlights the rich potential of the project, which first had an exploration target identified in 2022 and then a maiden Inferred resource of 12.45Mt grading 587 parts per million (ppm) eU3O8 for 16.1 million pounds (Mlbs) of contained U3O8 estimated in October last year.
Haranga Resources (ASX:HAR) has gone all out to explore the 1650km2 project.
Besides its diamond and RC drilling to increase confidence in the resource area, the company has also carried out termite mound sampling across the broader project area before following it up with auger drilling.
This process has already proven that the sampling work is a quick and cost-effective method of defining uranium targets.
More recently, metallurgical testing has outlined extraction rates that are in line with peers with low acid rates still rising at end of test with >90% uranium calculated after 59 hours.
Saraya ore block model. Pic: Haranga Resources
More upgrades to come
Adding interest, HAR noted that the majority (~80%) of the Saraya resource is contained within 140m of surface, making it suitable for open pit mining.
Mineralisation remains open along strike, down-dip and down-plunge, leaving plenty of room for further.
Along with several (10) significant regional anomalies, this indicates the potential for Saraya to possess a significantly larger uranium footprint.
“The reclassification of a significant proportion (37%) of the resource to Indicated, most of which is located within 140m of the surface, enables the commencement of more advanced project development studies together with the planning for a resource expansion drill out program,” managing director Peter Batten said.
“The Saraya permit has a real prospect of significant growth through the Saraya deposit extensions, the ten surrounding geochemical and radiometric coincident anomalies already identified and the radiometric anomalism sitting in the southeast of the permit.”
Further upgrade on the cards
HAR already expects to deliver a further resource upgrade in the near-term once it receives laboratory assays from the 29 RC holes completed at the project in Q1 2024.
It is also awaiting results from termite mound sampling over the last two blocks at the project while results are pending for a significant part of its infill sampling.
The company notes that early results, particularly from the Sanela prospect, have already revealed strong uranium anomalism and new extensions to the known Saraya deposit mineralisation.
It also expects ongoing sampling and analysis to hasten drill targeting.
This article was developed in collaboration with Haranga Resources, a Stockhead advertiser at the time of publishing.
This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.
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