Haranga Resources (ASX:HAR) has uncovered new uranium anomalies at the Mandankoly prospect, as part of its Saraya Uranium permit in Senegal, Africa, from an ongoing geochemical exploration program.
The $21.93 million market capitalisation company says 2 notable uranium anomalies were revealed from an infill survey comprising 4,065 termite mound samples on a 200m by 50m grid.
Managing Director Peter Batten says the company has made the discovery at a time of increased interest in the uranium market and ‘explosive’ moves in pricing.
“Within a short time frame we have managed to commence a significant exploration program over the very large Saraya permit, with the aim of aggressively exploring the potential in the region where the company believes significant further uranium resources could exist.
“Within a short time frame we have managed to commence a significant exploration program over the very large Saraya permit…”
There are always challenges along the way, but most importantly for me I am seeing support to develop this project to its fullest potential.”
According to Haranga, the anomalies demonstrate uranium concentrations up to 15 parts per million (ppm), which are 7 times higher than the 2ppm background levels.
Each of the anomalies extends about 600m in length and sit in the erosional valleys on the Eastern Saraya laterite plateau, suggesting a possible link with the underlying granite.
The company notes the recent discovery brings the total number of closed space uranium anomalies to 5, excluding the JORC compliant 16.1 million pound triuranium octoxide (U3O8) inferred mineral resource @ 587ppm on the permit.
According to Haranga, each anomaly is followed up with auger drilling to further understand the extent and nature of these anomalies. Auger drilling is ongoing across the permit, with results to be released on an ongoing basis.
Meanwhile, RC drill targeting at Saraya is expected to restart following the Christmas shutdown to deliver a potential resource expansion.
A metallurgical sample is enroute to Canada for analysis. Once results are in-hand, Haranga plans to upgrade the existing uranium resource from inferred to indicated.
Haranga Resources is an Africa-focused multi-commodity company operating in Senegal.
The company’s Saraya Project was previously owned by Uranium giant Orano (previously Areva) and has in excess of 65,000m of historical drilling.
Write to Adam Drought at Mining.com.au
Images: Haranga Resources