Haranga Resources publishes maiden uranium resource for Saraya in September quarter

• Haranga Resources (ASX:HAR) releases its quarterly report for September 2023, outlining the company’s activities at its projects in Senegal
• A significant achievement was the completion of the maiden uranium MRE for its Saraya deposit
• During the quarter, HAR has also appointed Peter Batten as Managing Director
• The Saraya NNE grid revealed significant uranium anomalies, indicating potential substantial uranium extensions
• HAR last traded at 12.5 cents

Haranga Resources (ASX:HAR) has released its quarterly report for the three-month period ending September 2023.

During the quarter, the company made significant progress in its exploration activities across two of its projects in Senegal: the Saraya uranium and Ibel gold projects.

Haranga also underwent key changes, appointing Peter Batten, an experienced company director and uranium geologist, as its Managing Director.

Uranium

A significant achievement in the September quarter was the completion of a maiden uranium mineral resource estimation (MRE) for its Saraya project in West Africa.

The 1650 square kilometre site now contains an inferred resource of 16 million pounds (7,300 tonnes) of physical uranium. The estimation is based on data from 541 historical drill holes and Haranga’s exploration efforts in 2022.

The company also secured $2.86 million in funding to expand its maiden resource, with a placement that targeted experienced investors.

The funding round was oversubscribed, partly due to the decade-high uranium prices.

The capital was raised through the placement of 26 million shares at 11 cents per share.

Additionally, the Saraya NNE grid revealed significant uranium anomalies, indicating the potential for substantial uranium extensions. The acquisition of previously inaccessible historical datasets, including logs, reports, and maps, provided valuable insights into the area’s geological history and trends.

Gold

Laboratory assays have confirmed promising drill targets at Ibel South, revealing a Northeast trending gold anomaly extending more than 2.5 kilometres, with gold concentrations peaking at 545 and 643 parts per billion.

During the quarter, field reconnaissance was carried out to verify anomalies and lay the groundwork for future drilling campaigns.

The company is also anticipating results in Q4 2023 for a sampling grid that has commenced south of Ibel’s initial grid, with more than 1520 samples collected.

HAR last traded at 12.5 cents.