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Highlights
- The World Nuclear Association says that uranium has come to the forefront as one of the critical energy minerals in the last six decades.
- It further says that U3O8is the most common uranium product from mines and has ~85% uranium.
- Haranga Resources Ltd (ASX:HAR) seems to be making serious strides with regard to U3O8. Read on to learn how.
For most of its part, uranium is used for electricity generation. However, a small proportion is used for the significant task of medical isotope production and marine propulsion. The World Nuclear Association asserts that, in some ways, searching for uranium is easier than for other minerals. This is because the radiation signature of uranium's decay products allows the identification and mapping of deposits right up from the air.
It further adds that U3O8 is the most common uranium product from mines. Keeping this in mind, Haranga Resources Ltd (ASX:HAR) seems to be gaining ground in terms of its uranium endeavours. After all, the company has defined a significant Uranium Exploration Target of 5 to 20 MT at a grade range of 350 to 750 ppm eU3O8 (4-35 Mlb contained eU3O8), over only 0.2km2 of its 1,650km2 permit at its Saraya uranium project.
Saraya uranium project – what you want to know
Saraya, which is housed in the southeast of Senegal, enjoys distinction of being considered an advanced-stage exploration project.
The Saraya project has undergone substantial historical drilling per the company (~61,500m). HAR says there exists many other untested uranium anomalies within the project area to be tested.
Saraya project location (Source: Company website)
Review of historical uranium intersections
Refer to the following image for some significant uranium intercepts intersected in historical drilling at the project:
Historical uranium intersections from historical drilling (image: Company website; © 2022 Kalkine Media®)
Upon reviewing the historical uranium results of drilling and exploration, HAR has pinned further hopes on the uranium prospectivity of the project.
Significant Uranium Exploration Target of 5 to 20 MT at a grade range of 350 to 750 ppm eU3O8 (4-35 Mlb contained eU3O8) has been defined at the Saraya project. Notably, this exploration target only covers 0.2km2 of its 1,650km2 permit, paving the way for significant additional discovery potential.
What Haranga is up to regarding uranium exploration at Saraya project
Currently, a two-stage, 3,200m maiden diamond drilling campaign is in progress at the advanced Saraya uranium prospect, which includes ~61,500m of historical drilling as well.
Data source: HAR update
The company has wrapped up drilling in the southern and northern part of the prospect, covering 16 holes for 1,920m. So far, the company has hit potential mineralisation zones in all holes drilled and logged. These mineralisation zones correlate well with known historical mineralisation. Assays results are awaited.
Meanwhile, the company has shared results from the down-hole geophysical surveys for processing to determine the eU3O8 content.
Upon obtaining all the assays, the company would target the conversion of the exploration target to a maiden Mineral Resource during the first quarter of 2023.
Flexible drilling program for possible expansion: The company says it’s exercising flexibility in the drilling campaign in order to extend the drill program beyond the planned 3,200m. This will enable the company to build upon the mineralisation known thus far at the Saraya prospect while testing any new targets identified.
HAR shares last traded at AU$0.12 on 13 January 2023.
