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- Haranga Resources (ASX:HAR) is a uranium explorer in Senegal, West Africa
- The company has added geochemical uranium anomalies to follow up at Saraya South
- Seven anomalies were discovered with XRF
- Termite mound sampling continues to remain a curious way the company finds its targets
- Shares last traded at 22.5 cents
Haranga Resources (ASX:HAR) has reported the inclusion of seven new uranium targets at the Saraya South prospect, part of its larger Senegalese project.
Company Managing Director Peter Batten described his desire to find “the next Saraya”, while noting the value “sitting” at the already-known targets.
“Whilst searching for the next Saraya, we are cognisant of the value sitting at Saraya and have decided to progress the development of this deposit at the same time as we explore for another,” he said.
Concentrations may not excite, yet
In between the lines, the company may be looking for higher concentrations – soil anomalies detected and announced today sit at 11 parts per million.
That is a fivefold increase on 2ppm background levels, Haranga noted on Wednesday – but until drillers hit mineralisation, not enough strong evidence of anything.
To that end, auger drilling will kick off next month.
Assays due in February
At the same time, auger assays are due back to the company also in February, with results from the Diobi, Sanela and Mandankoly prospects to be pored over.
Haranga also attracts attention for exploiting unique geological assets in its hunt for the nuclear feedstock – termite mounds.
Saraya South is the fourth target detected in this manner.
Speaking on the sidelines of the RIU Resurgence conference in Perth last year, Mr Batten quite politely answered in the affirmative when this journalist asked: “so does that actually work?”
In short, the creatures’ knack for constructing cathedrals of dirt sees the bugs pushing lots of underground soil up into a vertical column above surface – effectively doing the geotech team’s work for them.
Quarterly results
This isn’t all we’ve heard from Haranga this week.
Posting its quarterly yesterday, Haranga outlined its progress through Q2 FY24, most notably commencing an RC drill run for which assays are expected no later than April.
Further anomalies were found in the final three months of CY23 adding to the existing 16 million pound uranium resource at 587ppm.
A gold project called Ibel South retains tenure on Haranga’s radar, too, with similar termite-based sampling leading geotechs in what they believe to be the right direction there as well.
Haranga shares last traded at 22.5 cents.
