African uranium explorer Haranga Resources (ASX:HAR) is looking ahead to the start of fresh drilling at its Saraya Project in Senegal after discovering new uranium anomalies.
The $13.22 million market capitalisation company says these ‘extensive’ anomalies have been uncovered over the Sanela prospect area and have returned grades of up to 17 parts per million (ppm) uranium.
Haranga reports the Sanela prospect anomaly extends over 2km along a north-northeast structural trend, similar to the Saraya prospect in the project area.
Of the 7 new anomalies defined to date, the Saraya prospect, where the company has defined a 16-million-pound (Mlb) inferred resource at a grade of 587ppm eU3O8, is the smallest anomaly.
Haranga is now preparing to start drill planning following an initial site visit by Managing Director Peter Batten this month. The timing of drilling is to be confirmed post-site visit but is expected by the end of the current quarter.
Meanwhile, infill termite mound sampling and assaying over the anomalous Saraya South and Mandankoli prospects is ongoing and is expected to be completed before the end of the year.
Permit-scale sampling continues in conjunction with infill sampling over the recently identified anomalies to define additional targets for drilling.
Speaking on the new uranium discovery, Batten says: “These results from Sanela are timely, as they come close on the heels of our first mineral resource estimate at the Saraya prospect within our Saraya Project.
The determination of the second prospect to drill will come down to the higher confidence we have in the orientation and structure of the anomalies. The successful completion of the Sanela sampling now allows the Haranga geological team to include Sanela, along with Diobi and Mandankoli, in the next phase of drilling planned for this quarter.
“The successful completion of the Sanela sampling now allows the Haranga geological team to include Sanela, along with Diobi and Mandankoli, in the next phase of drilling planned for this quarter”
What information we have seen from the regional historical exploration drilling show intercepts of economic mineralisation close to or on the periphery of our defined anomalies.
The progress we have made so far underscores the effectiveness of our exploration strategy and reinforces our confidence in the future success of the Saraya Uranium Project.”
Haranga Resources is a multi-commodity-focused company working to develop its ‘highly prospective’ gold and uranium assets in West Africa.
The company’s Saraya project is located in Senegal and was previously owned by uranium giant Orano (previously Areva). The project currently holds a maiden Mineral Resource Estimate (MRE) of 12.5 million tonnes @ 587ppm eU3O8 for 16Mlbs contained eU3O8 inferred.
Haranga Resources had $652,000 cash and cash equivalents at hand as of 30 June 2023, although the company raised $2.86 million in a ‘heavily oversubscribed’ capital raising in September.
Write to Adam Drought at Mining.com.au
Images: Haranga Resources
