HAR finds new uranium anomaly

Our uranium Investment Haranga Resources (ASX: HAR) just updated the market on its four phased exploration program at its project in Senegal.

HAR owns 70% of its project which holds an existing uranium JORC resource of 16mlbs.

Right now, HAR is working toward increasing its JORC resource with a four staged exploration program across those targets as follows:

1. Regional termite mound - Project wide sampling to find the most interesting targets are.
2. Infill termite mound - Detailed sampling at the most interesting targets.
3. Auger drilling - Shallow drilling to rank drill targets.
4. RC drilling - Deeper drilling to try and make discoveries and define JORC resources.

Here are our key takeaways from today’s announcement:

1. New target identified at Saraya East

HAR completed termite mound sampling at Saraya East and has now found another target worth auger drilling.

The new anomaly is ~4km east of HAR’s existing JORC resource.

1. Termite mound sampling ongoing

HAR is still running a sampling program across large parts of its project.

We are hoping to see more drill targets come from the sampling program.

1. Auger drilling at Mandankoly ongoing

HAR is still running its auger drill program at its Mandankoly prospect.

Next, the auger rig will move to the Sanela prospect.

What’s next for HAR?

Drill results 🔄

HAR is running its auger drill program across Mandankoly and Sanela targets, after which the auger rig will move to the Saraya South targets.

At the same time, the company will be running its RC drill program in and around the Saraya project, where the company has its existing 16m lb JORC resource.

Assays for the remaining 4,000 to 5,000m RC program are expected in late March.

Sampling results 🔄

HAR is continuing to run a tenement-wide termite mound sampling program.

The ultimate aim for the sampling work will be to find more drill targets.

Resource upgrade 🔲

After the results come back from the soil sampling/drilling, we want to see HAR increase its JORC uranium resource.

We want to see HAR increase the confidence level of its resource (take it from inferred to indicated) AND at the same time increase the resource in terms of size.

HAR expects the JORC resource upgrade to come in ~April.