Haranga Resources (ASX: HAR; FRA: 65E0): Sanela Auger Drilling Boosts Uranium Discovery Potential

Highlights

• Ongoing auger drilling at the Sanela Prospect has defined the north-eastern Sanela auger anomaly and a new set of anomalies in the south-east.
• High uranium values, ranging from 5 to 45 times background levels, have been reported in 234 of the 337 auger holes drilled.
• The Sanela uranium anomalism, extending over 2km, will be explored further with reverse circulation (RC) drilling later this year.

Haranga Resources Limited (ASX: HAR; FRA: 65E0) has reported encouraging results from ongoing auger drilling at the Sanela prospect, highlighting its potential to become the first new uranium discovery at the Saraya project.

Drilling has been conducted across 337 auger holes with 234 holes encountering uranium anomalism with concentration ranging from 7 to 98 eU ppm, as determined by pXRF analysis. Mineralisation remains open to the east where thick laterite covers the underlying rocks. Further exploration is planned for the covered area during the next dry season.

Additionally, the auger drilling results have identified a second RC drill target in the southwest of the prospect.

Promising Uranium Discovery

The prospect is located in the southern part of the central 30km-long uranium prospective corridor of the Saraya Granite and has a set of NNE trending termite mound uranium anomalies, as indicated by pXRF device. A 2.5km uranium prospective zone was delineated through these anomalies for follow-up exploration.

Preliminary auger drilling at the prospect yielded significant results. Earlier this year, follow-up RC drilling was conducted which reported 8 metres at 311 ppm U₃O₈ from a depth of 35 metres, including 3 metres at 495 ppm U₃O₈ from 40 metres.

The Sanela auger drilling is part of HAR’s four step exploration process focused on the Saraya permit. The exploration process includes regional termite mound sampling (TMS), followed by in-fill TMS, auger drilling and then RC drilling.

TMS defined eight prospects for auger follow up.

Image source: Company update

In the fourth quarter of 2024, the company plans to recommence auger drilling.

Growing uranium mineral resource   

The company intends to update its current Indicated and Inferred mineral resource of 16.1Mlbs eU₃O₈ @ 558ppm for the Saraya prospect. The update is nearing completion. The updated mineral resource will be used to plan the next drilling campaign, which will focus on extending the Saraya uranium resource before undertaking studies to ascertain the pathway toward development.

HAR reports that the success of drilling at Sanela suggests increased uranium resources for the company, with the potential for further discoveries. Eight undrilled anomalies have been identified across the 1,650km² permit area, indicating the possibility of additional resources.

HAR shares traded at AU$0.071 apiece at the time of writing on 30 July 2024.