Haranga Resources (ASX:HAR) establishes significant Uranium exploration target at Saraya; drilling planned September 2022

Highlights

• Haranga Resources (ASX:HAR) has identified a significant exploration target at the Saraya prospect.
• A 5-20 Mt exploration target defined at a grade range of 350-750 ppm eU₃O₈ (4-35Mlb eU₃O₈)
• The target compiled over a review of 514 historical drill holes, totalling 61,437 m
• The exploration target covers only ~0.2km² of the 1,650km² permit
• The exploration target open at depth, with several possible extensions to SE and NW
• Numerous geophysical anomalies across permit and a large sampling program well underway
• HAR now looks to kick off an extensive diamond drilling program in September 2022, to verify the identified exploration target and convert this to a JORC (2012) compliant resource.

ASX-listed Gold and uranium player Haranga Resources Limited (ASX:HAR) has declared a significant Uranium Exploration Target at the Saraya project, based on the earlier review of historical uranium exploration results by an independent resource development consultant.

The exploration target has been established in accordance with a 2012 JORC-compliant 5–20 Mt @ grade range of 350-750 ppm eU₃O₈ (4–35 Mlb contained eU₃O₈). HAR believes that the exploration target highlights the potential of the Saraya permit and looks to kick off an exploration program at the target in September 2022.

On the back of this positive news HAR shares were up 14.3% to AU$0.200 on the ASX. 

HAR identifies exploration target

The episyenites at the Saraya prospect have been subjected to multiple exploration campaigns since they were recognised for their potential uranium prospectivity in the late 1950s. The exploration campaigns include two significant drilling programs and several geophysical surveys.

Some of the key intercepts from previous drilling include the following:

Source: © 2022 Kalkine Media® | Data Source: HAR | Image Source:  © Adwo | Megapixl.com

Overall, the Saraya prospect has witnessed drilling across 514 historical holes, totalling 61,437 m, along with several holes at further deposits within HAR’s tenement. The initial modelling conducted to determine a uranium exploration target at the Saraya prospect was based on the extensive historical drilling database.

Upcoming drilling at Saraya Exploration Target

With the exploration target being defined, HAR is now planning to undertake a maiden drill program at the exploration target. This program comprises a total of 23 diamond drill holes for 3,200 m to test the validity of the target.

Source: © 2022 Kalkine Media® | Data Source: HAR | Image Source: © Dgdimension | Megapixl.com

HAR further aims to test six areas through drilling in two phases and anticipates kicking-off the same in September 2022. The drilling program is anticipated to be completed by January 2023.

HAR seeks to establish JORC mineral resource

HAR also looks to establish the geological interpretation and verify eU grades via the proposed drilling program. Furthermore, diamond drilling will also enable sampling for chemical assays to validate K-factors used to convert counts per second values into equivalent uranium (eU) grades.

HAR remains optimistic that the upcoming drilling phase will deliver an enhanced understanding of the geological architecture of the Saraya deposit while helping in validating the eU database.

Plan map of validation drillholes and Exploration Target (Source: HAR Announcement)

HAR further looks to develop a robust geological domain that could support potential future mineral resource classification in accordance with the JORC Code (2012). This will be based on the success of the upcoming drill validation program.

HAR aims for a Mineral Resource estimation through the proposed exploration activity at Saraya as the possible quantity and grade of the exploration target remain conceptual in nature, and there has not been ample exploration to estimate a Mineral Resource.