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- Haranga Resources (HAR) publishes a maiden resource for its uranium project in Senegal, West Africa
- The Saraya project now boasts an inferred resource indicating a total of 7300 tonnes of uranium
- To date, the company has only extrapolated a resource for one very small part of its 1650sq.km acreage
- The company is hopeful it can realise its desire to develop an open-pit operation
- Six large geomagnetic anomalies await to be explored boosting change of further resource upside
- Shares last traded at 15 cents
ASX-listed uranium explorer Haranga Resources (HAR) has announced the publication of a maiden resource for its Saraya uranium project in Senegal, West Africa.
The 1650 square kilometre acreage now boasts an inferred resource of 16 million pounds of physical uranium – 7300 tonnes – at a grade of 587 parts per million. This is based on 541 historical drillholes and Haranga’s 2022 exploration activities.
It’s worth noting that the existing JORC resource only covers a tiny 0.2 square kilometres of the entire project acreage, leaving open the potential for future resource upgrades.
To that end, the company also highlighted six existing underground geomagnetic anomalies of interest likely to see the rigs placed overhead in the coming months and years.
Several of these anomalies are larger than the footprint informing Saraya’s maiden resource, according to the company.
Haranga’s geotechs are particularly focused on some of the shallower mineralisation within 160 metres of the surface. Haranga is confident that this could support a possible open-pit operation.
Mineralisation remains open along strike and further underground.
“[Our] deposit size and grade place the resource at the forefront of junior exploration companies,” HAR Managing Director Peter Batten said.
“The Saraya permit has a real prospect of significant growth through the Saraya deposit extensions, the six surrounding geochemical and radiometric coincident anomalies already identified and the radiometric anomalism that sits in the 60 per cent of the permit yet to be explored.”
The play provides interesting potential. Currently, physical uranium prices per pound are enjoying highs not seen in more than a decade. As of 2:00 pm AEST on Monday, a pound of uranium on the NYMEX was going for US$65.50.
For those following along, that’s more than US$144,360 a tonne.
Haranga shares last traded at 15 cents.
