Haranga Resources (ASX: HAR; FRA: 65E0) finds new uranium anomaly at Saraya, shares jump

Highlights

• Encouraging uranium concentrations of 52 ppm eU₃O₈ pXRF reported from infill termite mound sampling (TMS) at Diobi East.
• So far, eight regional uranium anomalies have been defined at the Saraya Project.
• The company is awaiting a potential MRE category upgrade.

Share price of Haranga Resources Limited (ASX: HAR; FRA: 65E0) jumped nearly 10% to AU$0.110 apiece during early morning trading hours on 3 May 2024 after the company released an exciting project update.

 The company is advancing infill termite mound sampling (TMS) at the Saraya Project that is near completion. The regional TMS has been concluded over the blocks 11 and 12 with 1,543 samples.

Encouraging results have been obtained from the sampling campaign at Diobi East, with uranium concentrations reaching 52 ppm eU₃O₈ pXRF, nearly 20 times above background levels. Auger drilling is planned in the near future.

Notably, the company has identified eight regional uranium (pXRF) anomalies at the Saraya Project to date.

Haranga Resources anticipates an upgrade to its resource category during May, with a potential Mineral Resource Estimate (MRE) update expected in June.

About the exploration campaign at Saraya

The objective of the ongoing exploration program is to generate new prospects. The field programs focused on the regional-scale grid at 100m by 1000m spacing with the sampling of termite mounds at blocks 11 and 12.

A total of 12,681 TMS samples have been gathered on the regional scale, covering 80% of permit’s surface. Rest 20% lies in the blocks 8 and 13. Over 3,000 samples will undergo sampling and processing before the rainy season in July.

All samples have been prepared at HAR’s facility in Saraya camp and analysed through pXRF device.

The infill TMS surveys focused on the central anomalous areas. The survey focused on the sampling of the Diobi East and 50m x 200m grid of Saraya East. The Badioula grid TMS has been finalised, and HAR expects the pXRF readings by early May. Additionally, sampling has commenced for the Mandankoly West grid.

Encouraging results - Diobi TMS

Infill TMS at Diobi East was concluded for 1,908 samples and prepared for pXRF in the beginning of April.

Infill TMS has highlighted two small uranium anomalies. pXRF reading of the one of the locations for eU₃O₈ is 52 ppm, which is significantly high as it is 20-time above background.

Auger drilling is scheduled at both Saraya East and Diobi East to analyse the anomalism.