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Highlights
- Upgraded mineral resource estimate (MRE) of the Saraya Uranium deposit includes an indicated mineral resource of 6.04 Mlbs eU3O8 at a grade of 752ppm eU3O8 and an inferred mineral resource of 10.1Mlbs of eU3O8 at a grade of 484ppm eU3O
- 80% of the MRE is within 140 metres of the surface, making it suitable for open pit operations.
- Further MRE update is dependent upon the receipt of laboratory assay results from 29 reverse circulation (RC) holes completed in the first quarter.
- Shares jumped by 30% in the early morning trade on 20 June 2024.
Shares of Haranga Resources Ltd (ASX: HAR; FRA: 65E0) soared nearly 30% on Thursday morning (20 June 2024) after the company provided an encouraging update on the Saraya Uranium deposit in Eastern Senegal, West Africa.
The company announced the upgraded MRE for the Saraya Uranium deposit, reporting an indicated mineral resource of 6.04 Mlbs eU3O8 at a grade of 752ppm eU3O8 and an inferred mineral resource of 10.1Mlbs of eU3O8 at a grade of 484ppm eU3O8. This takes the total inferred and indicated resources to 16.11Mlbs of eU3O8 at a grade of 558ppm eU3O8 at cut-off of 250ppm.
Notably, approximately 80% of the MRE is within 140 metres from surface amenable to open pit operations. Additionally, the mineralisation remains open down-dip, down-plunge and along strike.
The company emphasised the substantial exploration upside potential of the project, as multiple regional anomalies identified to date suggest a larger footprint than the Saraya resource mineralisation.
More
The reported MRE was prepared in line with the 2012 JORC Code by A. Gillman of Odessa Resources Pty Ltd. The upgraded MRE is based on a database containing data from 519 historical drillholes and data from recent drill campaigns, comprising 22 diamond holes along with positive metallurgical testwork and geological confirmation from 29 RC holes.
Further MRE update is dependent upon the laboratory assay results from 29 RC holes finalised at the Saraya project in the first quarter.
The Sarya permit is located on the Saraya Granite, which is a source of uranium mineralisation. The project covers an area of 1,650km2.
The company has conducted termite mound sampling, collecting 15,845 samples. These are being analysed using a handheld XRF device. Results for the last 2 blocks are awaited.
Additionally, of nine delineated anomalies from the permit survey, eight have been investigated further, with 18,727 infill samples collected out of 21,342 planned. Assays for 4,065 samples are pending.
Early assays have revealed promising uranium anomalies at the Sanela prospect and extending mineralisation at the Saraya deposit. Based on the promising initial results, continued sampling and evaluation are anticipated to expedite drill targeting.
HAR shares soar
HAR shares were trading at AU$0.105 apiece, up 23.53%, at the time of writing on 20 June 2024.
