Haranga Resources (ASX:HAR) Progresses with Key Drilling Programs and Secures Funding

Highlights

• Haranga secured AU$500,000 in funding through an unsecured convertible loan facility to advance gold and uranium projects.
• Drilling at the Sanela prospect in the Saraya Uranium Project is expected to commence in Q1 2025.
• At the Ibel South Gold Project, a 2,000m aircore drilling program is set to commence in February.
• Haranga plans to expand drilling to 15 additional targets in the Saraya uranium-anomalous corridor after the Sanela prospect work.

Haranga Resources Limited (ASX:HAR; FRA:65E0) has released its quarterly activities update for the December 2024 quarter, highlighting significant progress across its projects.

During the three-month period, the company secured AU$500,000 in funding through an unsecured convertible loan facility, which will be directed towards advancing both the Ibel South Gold and Saraya Uranium Projects.

Notable exploration efforts at the Saraya Uranium Project include ongoing work at the Sanela prospect, where drilling will continue into the first quarter of 2025 due to delays with rig availability. Meanwhile, exploration at the Ibel South Gold Project is ramping up, with a 2,000m aircore drilling program set to begin in February 2025.

Exploration Activities at the Saraya Uranium Project

At the Sanela prospect, HAR is focused on finalising a 345-auger-hole program to follow up on promising RC drilling results. The drilling program, which began in April 2024, targets potential mineralisation extensions along a sheared contact between sedimentary rock and granite.

However, due to the unavailability of the auger rig in December 2024 quarter, drilling is now scheduled to continue into the first quarter of 2025. Following the work at Sanela, the company will proceed to the Mandankoli project.

The company also plans to expand drilling to 15 additional infill targets, which are spread across a 30km uranium-anomalous corridor.

A comprehensive regional 1000m by 100m termite mound sampling (TMS) program, covering nearly 97% of the 1,650km² Saraya permit area, was successfully completed in the third quarter of 2024. Seven regional prospects within the 30km uranium-anomalous corridor are slated for infill sampling in the first quarter of 2025.

Image source: Company update

Future Work at the Saraya Uranium Project

According to Haranga’s four-stage exploration strategy, areas showing positive results from TMS will undergo auger and/or aircore drilling, with follow-up RC drilling if justified.

A new drill program at the Saraya uranium resource is being designed to assess potential extensions of existing mineralisation. Positive results from this program will contribute to feasibility studies, which will help guidefuture development decisions.

Ibel South Gold Project: Exploration Plans Underway

The Ibel South Gold Project is a 100% HAR-owned permit located in part of the Birimian Belt. TMS at Ibel South previously identified multiple gold-anomalous zones.

Haranga has planned a 2,000m aircore drilling program to investigate the geochemical gold anomalies identified through TMS. Access permission applications have been submitted to relevant authorities and local communities, with operations expected to commence in February 2025.

HAR shares traded at AU$0.042 per share at the time of writing on 31 January 2025.