Haranga Resources (ASX:HAR) identifies new uranium targets at Saraya permit

• Haranga Resources (HAR) identifies multiple uranium targets at its Saraya permit in eastern Senegal following termite mound sampling
• The company completed XRF analysis on over 5000 termite mound samples, covering 520 square kilometres, which makes up 32 per cent of the total project area
• The bulk of the samples reported below the detection limit of seven parts per million (ppm) uranium while 3.7 per cent reported above the limit
• Haranga says the sampling program yielded seven large uranium anomalies in the northern part of the prospect and is planning drilling work
• HAR shares are down 2.5 per cent trading at 19.5 cents at 1:17 pm AEDT

Haranga Resources (HAR) has identified multiple uranium targets at its Saraya permit in eastern Senegal following termite mound sampling.

The company completed XRF analysis on just over 5000 termite mound samples, covering 520 square kilometres, which makes up 32 per cent of the total project area.

The bulk of the samples reported below the detection limit of seven parts per million (ppm) uranium while 3.7 per cent reported above the limit and were considered anomalous.

Haranga said the sampling program had yielded seven large uranium anomalies in the northern part of the prospect, comprising 140 samples with uranium concentrations between seven and 17 ppm uranium.

There were also a number of smaller anomalies containing up to 15 ppm uranium.

Non-Executive Chairman Michael Davy said the company is pleased with the initial results from the program that covered only a small part of the permit.

Additionally, Mr Davy said the anomalies were considered to be of the same tenor as an anomaly across the known Saraya prospect where the company defined an exploration targets of five to 20 million tonnes at a grade range of between 350 to 750 ppm uranium.

Here, results for a diamond drilling program are also pending.

“With the company’s recent diamond drilling program intersecting potential mineralisation in all holes and results expected shortly, the company plans to convert the exploration target into its first maiden mineral resource,” Mr Davy said.

“Given a couple of these uranium anomalies coincide with regional historical drill success to the NNE of Saraya prospect, it is already looking like further uranium discoveries will be made on this permit.

“This makes it an exciting period for the company as we aim to prove that Saraya could potentially host significant uranium resources”.

Further results from the regional permit-wide termite mound sampling program are expected, with additional infill termite mound sampling and potential drilling planned over new identified uranium anomalies.

HAR shares were down 2.5 per cent trading at 19.5 cents at 1:17 pm AEDT.