Haranga Resources (ASX: HAR) affirms uranium presence at Saraya in early drill results

Highlights

• First results from reverse circulation (RC) drilling at the Saraya uranium project have confirmed the continuation of uranium mineralisation.
• pXRF device employed by HAR verified the uranium concentration.
• Samples from the initial nine holes have been sent for assaying.
• In 2Q24, the company expects to complete termite mound sampling.

Haranga Resources Limited (ASX: HAR; FRA: 65E0) has unveiled the initial results from RC drilling at the Saraya Uranium Project. The first nine holes at Saraya have been completed, and samples have been dispatched to ALS Laboratories, Canada, for assaying.

The preliminary results affirm the presence of uranium mineralisation at Saraya at shallow depths, extending along strike and at depth. The company employed its pXRF device to determine the uranium concentration.

A termite mound sampling campaign is currently progressing with completion targeted in the second quarter of 2024. Additionally, auger drilling will continue on the recently discovered termite mound anomalies at Diobi, Saraya South, and Saraya East.

Background of RC drilling at Saraya Prospect

In December 2023, the company initiated RC drilling at the Sraya deposit, concluding two holes at Saraya and one at Diobi. Drilling activities recommenced in February 2024, leading to the completion of additional six holes.

The primary objective of the drilling campaign was to generate confirmation data for upgrading the mineral resource estimate (MRE). The MRE is expected to be finalised after the completion of metallurgical testwork on ore characterisation, currently underway at SGS Lakefield, Canada. Initial results are expected soon.

The drilling campaign is expected to conclude in March 2024.

RC drill results consistent with MRE grade

Anomalism identified through sample analysis using the in-house pXRF device have produced extensive intercepts and concentration ranges aligning with the established MRE grade of 12.4 Mt @ 587 ppm eU₃O₈ for 16.1 Mlbs. Reported widths fall within the range of a single metre to up to 39 metres. In this intercept, uranium concentration surpasses the average grade of MRE.

The pXRF, employed by HAR, is a handheld instrument designed to identify low concentration multi-elements, including uranium, ensuring high accuracy and precisions in the PPM range.

Data source: Company update

Significant intersections include –

• 39 m @ 221 ppm eU₃O₈ from 20 m in 24-SAR-RC-002, including 5 m @ 468 ppm eU₃O₈ from 79 m
• 11 m @ 443 ppm eU₃O₈ from 33 m in 24-SAR-RC-005, including 4 m @ 630 ppm eU₃O₈ from 39 m
• 11 m @ 400 ppm eU₃O₈ from 76 m in 24-SAR-RC-006, including 3 m @ 768 ppm eU₃O₈ from 77 m
• 29 m @ 903 ppm eU₃O₈ from 92 m in 24-SAR-RC-006, including 22 m @ 1095 ppm eU₃O₈ from 95 m
• 39 m @ 354 ppm eU₃O₈ from 29 m in 24-SAR-RC-007, including 10 m @ 599 ppm eU₃O₈ from 56 m
• 13 m @ 672 ppm eU₃O₈ from 80 m in 24-SAR-RC-007, including 7 m @ 1054 ppm eU₃O₈ from 82 m

HAR shares traded at AU$0.150 apiece on 13 March 2024.