Haranga Resources Ltd (ASX:HAR) has unveiled a maiden global mineral resource estimate for the Saraya Uranium Deposit located in Eastern Senegal, West Africa.
Highlights
Haranga is very pleased with both the size and the grade of this initial Mineral Resource Estimate,” Managing Director, Peter Batten, said.
“This marks a significant milestone for the Company and was based on solid work by our professional team in digitising, translating and validating existing data, a fitting reward for their efforts. The deposit size and grade, place it at the forefront of junior exploration companies.
“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% of the permit yet to be explored.”
In 2022 Haranga announced an Exploration Target of between 4.0 and 35 Mlb of eU3O8 at an estimated grade of 350 to 750ppm. The tonnage and contained eU3O8 estimated in the MRE fall at the midway point of the ranges reported in the Exploration Target, whilst the estimated grade falls towards the upper end of the Exploration Target grade range.
The uranium mineralisation at Saraya is shear hosted in a NNE structural corridor affected by sodic metasomatism and episyenitisation within the felsic granitic batholith of Saraya. Mineralisation is almost exclusively constrained in the episyenites. Haranga is targeting several NNE extensions with subsequent soil exploration to define new drilling targets and possible resource extension.
The Saraya Uranium Deposit is located in Eastern Senegal, West Africa. Haranga Resources Ltd entered a joint venture with Mandinga Resources SARL (Mandinga), 100% holders of the Saraya Permit, with the purchase of 70% of Mandinga. The remaining 30% in Mandinga becomes dilutionary following a positive PFS and will convert to a 2% net-smelter royalty if it should dilute below 6%.
The uranium potential of the Saraya prospect was first flagged by the French Atomic Energy Commission (Commissariat à l’Energie Atomique, CEA) in the late 1950s, from large-scale aerial surveys and subsequent ground radiometric mapping and trenching.