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Laramide Assay Results from Long Pocket and Black Hills Prospects Support Expansion Potential at Westmoreland

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Laramide Assay Results from Long Pocket and Black Hills Prospects Support Expansion Potential at Westmoreland

 

 

 

 

 

Highlights:

  • 2023 Drilling campaign included 15 holes at Long Pocket and 3 holes at Black Hills uranium prospects.
  • All Black Hills exploration drill holes return significant mineralisation:
    • BH23DD001 – 3.0m @ 259ppm U3O8 from 29m depth
    • BH23DD001 – 6.05m @ 218ppm U3O8 from 120.12m depth
      • Including 0.98m@ 505ppm U3O8 from 120.12m
    • BH23DD002 – 2.0m @ 591 ppm (0.06%) U3O8 from 209m
      • Including 0.9m @ 1154ppm U3O8 from 210.1m
    • BH23DD003 – 3.0m @ 1844ppm (0.18%) U3O8 from 88m
      • Including 2.00m @ 2671ppm (0.27%) U3O8 from 89m
  • Assay results from Long Pocket confirm that shallow uranium mineralisation continues to the north-east:
    • LP23DD002 – 1.0m @ 545ppm U3O8 from 42.0m
    • LP23DD006 – 0.68m @ 980ppm U3O8 from 81.0m
    • LP23DD008 – 0.73m @ 149ppm U3O8 from 4.93m
    • LP23DD011 – 0.96m @ 109ppm U3O8 from 21.54m
    • LP23DD015 – 1.02m @ 692ppm U3O8 from 51.9m
  • Rock chips from U-Valley prospect return up to 1.49% U3O8
  • Long Pocket maiden resource modelling planned for 2024

 

Laramide Resources Ltd. (TSX: LAM) (ASX: LAM) (OTCQX: LMRXF) is pleased to announce assay results received from the 2023 drilling campaign at the Westmoreland Project in NW Queensland.

 

Over 4,000m of diamond drilling, for 40 holes were completed at four discrete targets during 2023: Amphitheatre, Long Pocket, Black Hills and Huarabagoo (see Figure 2). Results from Long Pocket and Black Hills have now been received after extended laboratory delays. The objective of drilling at these targets was to explore opportunities to extend the envelope of known mineralization at Long Pocket ahead of a maiden mineral resource modelling planned for 2024 and to investigate potential extensions in the corridor towards the Black Hills uranium prospect. Long Pocket is a potential satellite deposit located 7km to the east of the Westmoreland Project and was subject to historical exploration by previous operators including QML, Rio Tinto and Laramide.

 

Commenting on the exploration results, Laramide’s President and CEO Marc Henderson said: “We are pleased to have received more positive results from our 2023 drilling campaign at Westmoreland, which was completed in October. The results are highly encouraging because they lend confidence that the Westmoreland Project has the potential to expand the uranium mineralisation with satellite deposits additional to the known 51.9Mlb Mineral Resources.

 

“The consistency of today’s results supports our plans to begin modelling a maiden resource at the Long Pocket area in 2024.  This ‘Long Pocket area’ includes Black Hills to the north and the newly discovered U-Valley to the south. The latest results include significant grade from Black Hills which warrants further investigation and will be a priority for the 2024 field season. The 2024 exploration plans include validation and qualification of historical work, completed in the 1970s by Rio Tinto’s predecessors.”

 

Black Hills Prospect

 

The Black Hills prospect is located 1.5km northeast of the Long Pocket prospect and presents as a broad 1.5 x 1km east-west airborne radiometric anomaly (see Figure 1). Recent exploration drilling at the Black Hills target has discovered multiple zones of mineralisation in previously undrilled zones at the project’s southern end.

 

Three scout holes were drilled in 2023, each intercepting multiple zones of mineralisation with results including:

  • BH23DD001 – 3.0m @ 259ppm U3O8 from 29m depth
  • BH23DD001 – 0.98m@ 505ppm U3O8 from 120.12m
  • BH23DD002 – 2.0m @ 591 ppm (0.06%) U3O8 from 209
    • Including 0.9m @ 1154ppm (0.12%) U3O8 from 210.1m
  • BH23DD003 – 3.0m @ 1844ppm (0.18%) U3O8 from 88m
    • Including 2.00m @ 2671ppm (0.27%) U3O8 from 89m

 

Mineralisation is hosted in the coarse-grained to granular Westmoreland conglomerate with the higher grades (>0.1%) associated with the fractured footwall contact of intrusive dolerite dykes.

 

These results, combined with a review of historical data from the 1970’s, promote Black Hills to one of Laramide’s priority exploration targets for the 2024 field season and will include validation and qualification of historical work.

 

Long Pocket

 

At Long Pocket 15 exploration drillholes were completed to test mineralisation extensions to the north and north-east.

 

Importantly, results from drill holes LP23DD-002, -008 and -011 present immediate step outs of over 100m from known shallow, flat-lying mineralisation, whilst LP23DD-006 and -015 suggests a potential mineralised corridor to the Black Hills uranium prospect (Figure 1) which requires further investigation in the year ahead.

 

  • LP23DD002 – 1.0m @ 545ppm U3O8 from 42.0m
  • LP23DD006 – 0.68m @ 980ppm U3O8 from 81.0m
  • LP23DD008 – 0.73m @ 149ppm U3O8 from 4.93m
  • LP23DD011 – 0.96m @ 109ppm U3O8 from 21.54m
  • LP23DD015 – 1.02m @ 692ppm U3O8 from 51.9m

 

Table 1: 2023 Long Pocket and Black Hills – Drill Collar details
HOLE ID Prospect GDA94_Easting GDA94_Northing Dip Azimuth Depth (m)
BH23DD001 Black Hills 205691 8066136 -50 205 186.3
BH23DD002 Black Hills 205407 8066209 -50 175 219.5
BH23DD003 Black Hills 205277 8066067 -50 355 240.6
LP23DD001 Long Pocket 204809 8065402 -80 355 51.7
LP23DD002 Long Pocket 204857 8065314 -80 355 51.7
LP23DD003 Long Pocket 205008 8065406 -80 355 54.8
LP23DD004 Long Pocket 205168 8065504 -80 355 69.8
LP23DD005 Long Pocket 204907 8065501 -80 355 57.7
LP23DD006 Long Pocket 205009 8065611 -80 355 96.7
LP23DD007 Long Pocket 204693 8065366 -80 355 42.7
LP23DD008 Long Pocket 204551 8065400 -80 355 45.9
LP23DD009 Long Pocket 204452 8065406 -80 355 45.8
LP23DD010 Long Pocket 204336 8065394 -80 355 42.7
LP23DD011 Long Pocket 204110 8065377 -80 355 42.7
LP23DD012 Long Pocket 205337 8065619 -80 355 132.7
LP23DD013 Long Pocket 205510 8065853 -80 355 78.9
LP23DD014 Long Pocket 205562 8065742 -80 355 51.7
LP23DD015 Long Pocket 205733 8065979 -50 25 150.5
 

 

Table 2: Black Hill and Long Pocket Significant intercepts (>100ppm U3O8)

HOLE ID Prospect From To (m) Interval
Length(m)
U3O8 (ppm)
BH23DD001 Black Hills 29.00 32.0 3.00 259
120.12 121.10 0.98 505
122.20 126.17 3.97 214
BH23DD002 Black Hills 51.60 52.65 1.05 158
179.00 181.00 2.00 135
183.00 183.80 0.80 149
184.93 185.73 0.80 262
209.00 211.00 2.00 591
including 209.00 209.90 0.90 1154
BH23DD003 Black Hills 20.90 22.00 1.10 222
73.00 74.00 1.00 133
83.18 86.00 2.82 246
88.00 91.00 3.00 1844
including 89.00 91.00 2.00 2671
LP23DD001 Long Pocket No significant intercepts
LP23DD002 Long Pocket 42.00 43.00 1.00 535
LP23DD003 Long Pocket No significant intercepts
LP23DD004 Long Pocket No significant intercepts
LP23DD005 Long Pocket No significant intercepts
LP23DD006 Long Pocket 81.00 81.68 0.68 980
86.50 87.22 0.72 249
LP23DD007 Long Pocket No significant intercepts
LP23DD008 Long Pocket 4.93 5.66 0.73 149
LP23DD009 Long Pocket No significant intercepts
LP23DD010 Long Pocket No significant intercepts
LP23DD011 Long Pocket 21.54 22.50 0.96 109
LP23DD012 Long Pocket No significant intercepts
LP23DD013 Long Pocket No significant intercepts
LP23DD014 Long Pocket No significant intercepts
LP23DD015 Long Pocket 51.90 52.92 1.02 692

 

 

U-Valley

 

Further to previously reported “off-scale” radiometric anomalism at the U-Valley prospect1, the four in-situ, rock chips samples taken during reconnaissance work in 2023 have returned significant uranium mineralisation grading up to 1.49% U3O8 over two parallel east-west trending zones of approximately 200m strike (Table 3). Whilst grab samples are discrete points, outcropping uranium mineralisation presents a compelling target for further investigation during 2024.

 

________________________________
1 Press release, October 31, 2023 https://laramide.com/laramide-updates-progress-on-2023-drilling-program-and-makes-new-discovery-with-off-scale-radioactivity-reading-from-surface-reconnaissance/
 

 

Table 3 – U-Valley Rock Chip sample details

Sample ID Easting
(GDA94,z54)
Northing
(GDA94, z54)
U3O8 ppm (ME_ICP61) U3O8%
(ME-XRF30)
WP269 204215 8063467 4870 n/a
WP267 204029 8063220 6650 n/a
WP263 204040 8063310 517 n/a
WP262 204094 8063487 >10,000 1.49

 

 

QP/CP Statement

 

The information in this announcement relating to Exploration Results is based on information compiled or reviewed by Mr. Rhys Davies, a contractor to the Company. Mr. Davies is a Member of The Australasian Institute of Geoscientists and has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the JORC 2012 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’, and is a Qualified Person under the guidelines of the National Instrument 43-101. Mr. Davies consents to the inclusion in this announcement of the matters based on his information in the form and context in which it appears.

 

About Laramide Resources Ltd.:

 

Laramide is focused on exploring and developing high-quality uranium assets in Australia and the western United States. The company’s portfolio comprises five advanced uranium projects in districts with historical production or superior geological prospectivity. Each asset has been carefully chosen for their size, production potential, and are considered late-stage, low-technical risk projects.

 

The Westmoreland project in Queensland, Australia, is one of the largest uranium development assets held by a junior mining company. This project has a PEA that describes an economically robust, open-pit mining project with a mine-life of 13 years.  Additionally, the adjacent Murphy Project in the Northern Territory of Australia is a greenfield asset that Laramide strategically acquired to control the majority of the mineralized system along the Westmoreland trend.

 

In the United States, Laramide’s assets include the NRC licensed Crownpoint-Churchrock Uranium Project. An NI 43-101 PEA study completed in 2023 has described an in-situ recovery production methodology. The Company also owns the La Jara Mesa project in the historic Grants mining district of New Mexico and an underground project, called La Sal, in Lisbon Valley, Utah

 

Figure 1: Long Pocket and Black Hills Drilling 2023 (CNW Group/Laramide Resources Ltd.)

 

Figure 2: Westmoreland Project showing key uranium deposits/Targets (CNW Group/Laramide Resources Ltd.)

 

Posted February 8, 2024

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