Haranga Resources Discovers Significant Uranium Anomalism at Sanela Prospect
HAR (HAR) Share Update July 2024 Monday 29th
Haranga Resources Unveils Promising Uranium Anomalies at Sanela Prospect
Haranga Resources Limited (ASX: HAR; FRA: 65E0) has announced encouraging results from its auger drilling campaign at the Sanela prospect in Senegal, highlighting the potential for a new uranium discovery.
Instant Summary:
- 337 auger holes drilled at Sanela prospect.
- 234 holes encountered uranium anomalism ranging from 5 to 45 times background.
- Potential extensions along strike to be tested with further drilling.
- Previous RC drilling revealed significant uranium finds.
- Sanela prospect shows potential for the first new discovery at the Saraya project.
Auger Drilling Success
Haranga Resources has drilled a total of 337 auger holes at the Sanela prospect, with 234 of these holes encountering significant uranium anomalism. The anomalism ranged from 5 to 45 times the background levels, indicating a strong presence of uranium in the area.
The drilling results have defined a north-eastern auger anomaly and a new set of anomalies in the south-east, along the NNE-SSW Sanela termite mound sampling (TMS) anomalous trend. This discovery highlights the potential for further uranium mineralization along the strike of the Sanela structure, a trending and possibly sheared contact zone between sediments and granites.
Potential Extensions and Previous Drilling Success
Further auger drilling will be directed to test for extended uranium mineralization along the strike of the Sanela structure. This follows recent RC drilling results at Sanela, which included significant finds such as 8 meters at 311 ppm U3O8 from 35 meters depth in hole 24-SAR-RC-019, including a high-grade section of 3 meters at 495 ppm U3O8 from 40 meters.
The Sanela uranium anomalism, extending over a 2km length, has the potential to become the first new discovery at the Saraya project. This will be subject to further RC drilling later this year.
Growing Uranium Mineral Resource
Haranga Resources is planning to update the current Saraya Indicated and Inferred mineral resource of 16.1Mlbs eU3O8 at 558ppm shortly. The drilling success at Sanela is pointing to further uranium resources for Haranga and possibly more, with eight undrilled anomalies defined across the 1,650km2 permit area.
It is important to note that the uranium results quoted in this announcement are acquired using an in-house pXRF device, which is a semi-quantitative process and does not equate to a laboratory assay. These results will not be relied on in any resource estimation.
The discovery of significant uranium anomalism at the Sanela prospect is a positive development for Haranga Resources. This could potentially increase the company's uranium resources and enhance its market position. The potential for a new discovery at the Saraya project could attract investor interest and positively impact the company's stock price.
Investor Reaction:
Analysts are likely to view the discovery of significant uranium anomalism at Sanela as a positive development. The potential for a new discovery at the Saraya project could boost investor confidence and attract interest in Haranga Resources. However, the semi-quantitative nature of the pXRF results means that investors will be keenly awaiting further RC drilling results for confirmation.
Conclusion:
Investors should keep an eye on Haranga Resources as the company continues its exploration efforts at the Sanela prospect. The potential for a new uranium discovery at the Saraya project could significantly enhance the company's resource base and market position. Subscribe to our newsletter for regular updates on Haranga Resources and other stock market news.