Haranga Resources announces upgraded mineral resource estimate for Saraya Uranium Deposit

Haranga Resources Ltd (ASX: $HAR) has announced an upgraded mineral resource estimate for the Saraya Uranium Deposit located in Eastern Senegal, West Africa. The Classified JORC 2012 Resource comprises an estimated 16.11 Mlbs (7,300t) of eU3O8 at an average grade of 558ppm eU3O8 using a 250ppm eU3O8 cut-off. The upgrade, based on a database containing data from 519 historical drillholes, together with data from Haranga's recent drill programs, includes 22 diamond holes, positive Metallurgical testwork, and geological confirmation from 29 RC holes drilled. The majority of the mineral resource estimate (~80%) is located within 140m from the surface, amenable to open pit operations, with mineralization open along strike, down-dip, and down-plunge. Further upgrades are expected following the receipt of laboratory assay results from 29 RC holes completed at Saraya in Q1.

Managing Director's Perspective on the Upgraded Mineral Resource Estimate

Managing Director of Haranga, Mr Peter Batten, expressed his satisfaction with the upgraded Mineral Resource Estimate, highlighting the reclassification of a significant proportion (37%) of the resource to Indicated, most of which is located within 140m of the surface. This reclassification enables the commencement of more advanced project development studies and planning for a resource expansion drill out program. Mr Batten also emphasized the real prospect of significant growth through the Saraya deposit extensions, the surrounding geochemical and radiometric coincident anomalies, and the radiometric anomalism sitting in the southeast of the permit. He further mentioned the potential for significant exploration upside, with several regional anomalies displaying a significantly larger footprint than the Saraya resource mineralization.

Outlook and Exploration Potential

The upgraded mineral resource estimate for the Saraya Uranium Deposit presents an optimistic outlook for Haranga Resources. With the majority of the resource located within 140m from the surface and amenable to open pit operations, the company is well-positioned to advance project development studies and plan for a resource expansion drill out program. Additionally, the potential for significant exploration upside, as indicated by several regional anomalies displaying a significantly larger footprint than the Saraya resource mineralization, bodes well for the company's future prospects. Haranga's comprehensive termite mound sampling strategy and ongoing analysis are expected to hasten drill targeting, further enhancing the exploration potential of the Saraya permit. The positive ore characterization testwork results and the high uranium extraction achieved under atmospheric leach conditions provide further confidence in the project's de-risking and the Indicated classification. Haranga's collective expertise and focus on expanding its portfolio across the clean energy and gold sectors position the company for continued growth and success in the African region.