Haranga Resources (ASX: HAR) secures rig for RC drilling at Senegal uranium project

Highlights

• HAR has entered into a drill rig agreement with Forage FTE Drilling for RC drill campaign.
• The program is expected to begin later this month and conclude in February 2024.
• Assays are likely to be received from February to April.
• Haranga has wrapped up infill termite mound sampling at Mandankoli and Saraya South.

Share price of Haranga Resources Limited (ASX: HAR, FSE:65E0) rose as much as 20.5% to trade at AU$0.205 on Tuesday morning after the company revealed that it has inked an agreement with Forage FTE Drilling, hiring the latter’s services for Reverse Circulation (RC) drilling at its Senegal Project.

Under the agreement, at least 4,000m and maximum of 6,000m of RC drilling can be conducted at the site using the drill rig of Forage FTE Drilling. The rig is likely to reach the field on 15 December.

Termite mound sampling to deliver additional targets

The company resumed termite mound sampling at Saraya South prospect post the rainy season. Around 2,166 termite mound samples have been collected by samplers from the prospect.

The company is expecting additional targets from the infill sampling at Mandankoli for auger drilling, as per the permit-scale geochemistry survey. It is likely that the survey will resume next month.

Auger drilling at Diobi and Sanela

HAR has also started auger drilling at the Diobi prospect along two east-west and north-south trending lines for 75 holes. The assays for auger samples will be done by use of the newly acquired XRF analyser.

As per the initial observations from the auger drilling, there are indications for existence of relatively thin colluvial layers and overlying granitic saprolite below the surface.

After completing Diobi drilling, the company plans to drill Sanela prospect.

RC Drill Contract

HAR has chosen FTE Drilling Senegal for conducting a 4,000-6,000m drill program in Senegal. FTE will be getting a truck mounted RC drill rig along with an auxiliary compressor for deeper drilling even in case of possible ground water.

The company aims to carry out RC drilling to test either the Diobi or Sanela anomalies based on the best auger-confirmed targets in the Diobi and Sanela Prospect areas.

The Saraya deposit hosts a 16.1Mlb U₃O₈ inferred resource @ 587ppm.

Haranga expects to deliver positive and significant results from its exploration endeavours. The goal is to “hopefully confirm that multiple Saraya’s may exist across our initial defined 25km uranium trend, within the 1,650 sq km Saraya project Licence, which would demonstrate that this project could host major uranium resources, said Batten.”