HAR working toward a uranium resource upgrade by June
Our uranium Investment Haranga Resources (ASX: HAR) expects to upgrade its existing JORC resource by the end of June this year.
HAR owns 70% of its project which holds an existing uranium JORC resource of 12.4 Mt @ 587 ppm for 16.1 Mlbs of uranium.
HAR is waiting for assay results from its RC drill program and expects to increase its JORC resource by the end of June this year.
Today, HAR put out an update on one of its exploration targets (Sanela prospect) which sits outside of the current JORC resource, here are our key takeaways from today’s announcement:
- 140 of the ~161 auger holes showed uranium mineralisation - HAR drilled a total of ~161 auger holes on the Sanela prospect and has hit uranium in ~140 of them.
- Grades are up to ~81ppm uranium - 29 of the holes sampled, returned uranium grades up to ~81ppm.
- RC drilling at Sanela has previously hit uranium - HAR has previously poked a few RC holes into the Sanela prospect and returned intercepts like ~8m at 351ppm uranium. Coupled with the Auger data, HAR says the prospect has “new discovery” potential.
What’s next for HAR?
Drill results 🔄
Samples from HAR’s recent RC drill program are expected this month.
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 resource upgrade to come in June.
