Highlights:
Laramide Resources Ltd. (TSX: LAM) (ASX: LAM) (OTCQX: LMRXF), a uranium mine development and exploration company with globally significant assets in the United States and Australia, is pleased to announce another batch of assay results from the 2024 drilling campaign completed at the Westmoreland Uranium Project in Queensland, Australia and the receipt of a permit for exploration for a large land package immediately east of and adjacent to the current Westmoreland land tenure.
Results for 6 holes of 17 holes from infill drilling at Huarabagoo and for 11 holes of 27 holes drilled in the zone between the Huarabagoo and Junnagunna deposits have been received. The results demonstrate that uranium mineralisation is continuous along strike and potentially joins the two deposits. Furthermore, there is a significant gold endowment within the mineralising system.
Commenting on the results, Laramide’s Vice-President of Exploration Rhys Davies said:
“The uranium and gold grades at Huarabagoo are consistently impressive. As we continue to gather more data relating to gold in the system, it is becoming clear that historical exploration work did not include assaying for gold, which has left significant gaps in the data, and presents a meaningful opportunity to enhance the project economics of these deposits.
“Furthermore, the shallow and broad zones of mineralisation observed in the Huarabagoo-Junnagunna link zone highlight the considerable potential for expanding the uranium mineral resources.”
Drilling across the broader Westmoreland Project was completed on the 4th of November and comprised 106 holes (includes 60 RC and 46 DD) for 11,263 meters, across multiple targets. Core processing continues, with announcements on assay results expected to continue into Q1 2025.
An updated Westmoreland Mineral Resource Estimate, which will include all results and include a Maiden Resource Estimate for Long Pocket, remains on track for early 2025.
Huarabagoo
The Huarabagoo deposit is located in the structural corridor between Redtree and Junnagunna and is included in the restated 2016 Westmoreland Mineral Resource Estimate1. Seventeen diamond drill holes for a total of 1,827.16m, were completed in 2024. Laramide designed this program to test the extents of modelled mineralisation for both uranium and also for the gold associated with the intrusive dolerite dyke.
Significant results from the 2024 drilling confirm that both uranium and gold mineralisation are within and peripheral to the dyke margins (Figure 1) and along fault extensions, with multiple zones intersecting a similarly variable hematite-silicate-sericite altered sandstone.
_______________________ |
1 https://laramide.com/projects/westmoreland-uranium-project/ |
Full Drill Collar details can be found here by clicking this link.
Huarabagoo-Junnagunna Link Zone
Drilling in the Huarabagoo-Junnagunna structural corridor is designed to test the mineralisation continuity between the two deposits with the intent to further increase the overall size of the resource. The program drill tested a system analogous to the Redtree Dyke system, and comprised of 21 RC holes for 3,096m, and 8 diamond drillholes for 1,124.10m, totaling 29 holes for 4,220.10m. The program was designed with three phases starting with an initial RC component (HJ24RC001 to HJ24RC013) to target the spatial extents for the Dolerite Dyke. The subsequent phases consisted of step out diamond drilling (HJ24DD014-HJ24DD021) to obtain structural measurements and establish structural controls and orientation of mineralisation the dolerite dyke system and fault zone extensions. The final phase consisted of RC drilling (HJ24RC014-HJ24RC021) to follow up on substantial downhole gamma results from earlier in the campaign.
NEW EXPLORATION PERMIT GRANTED
EPM28807 has recently been granted, adding 327 km2 (32,700 hectares) to the exploration portfolio in northwest Queensland. This tenement is adjacent to and surrounding EPM14558 which contains the Westmoreland Project, increasing and securing our foothold in the region to grow our pipeline of exploration targets and resources. The permit hosts 7 known uranium occurrences and one gold occurrence and presents a substantial exploration opportunity with significant areas of prospective Westmoreland Conglomerate outcropping and under cover.
Qualified/Competent Person
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 mineralization 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” as defined by National Instrument 43-101 – Standards of Disclosure for Mineral Projects. 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 Tier-1 uranium jurisdictions. The company’s portfolio comprises predominantly advanced uranium projects in districts with historical production or superior geological prospectivity. The assets have been carefully chosen for their size, production potential, and the two large development projects are considered to be late-stage, low-technical risk projects. As well, Laramide has expanded its pipeline with strategic exploration in Kazakhstan where the company is exploring over 5,500 km2 of the prolific Chu-Sarysu Basin for world class roll-front deposits which are amenable to in-situ recovery.
Table 1: Significant intercepts >100ppm U3O8 | |||||
Hole number | From | To | Length (m) | U308ppm | Au g/t |
HB24DD005 | 47 | 50 | 3 | 371.49 | 0.18 |
HB24DD005 | 55.4 | 63 | 7.6 | 162.71 | 0.03 |
HB24DD005 | 70 | 74 | 4 | 150.17 | 0.01 |
HB24DD005 | 103 | 111 | 8 | 102.27 | 0.01 |
HB24DD006 | 30 | 33 | 3 | 307.07 | 0.15 |
HB24DD006 | 36 | 44 | 8 | 1449.86 | 0.22 |
including | 37.3 | 39 | 1.7 | 6208.83 | 0.78 |
HB24DD006 | 79 | 80 | 1 | 155.06 | 0.02 |
HB24DD007 | 60 | 76 | 16 | 2151.24 | 0.01 |
including | 60 | 72 | 12 | 2816.22 | 0.01 |
HB24DD007 | 80 | 82 | 2 | 192.50 | 0.03 |
HB24DD007 | 86 | 87 | 1 | 121.46 | 0.01 |
HB24DD008 | 33 | 34 | 1 | 101.88 | 0.01 |
HB24DD008 | 40 | 42 | 2 | 222.28 | 0.02 |
HB24DD008 | 48 | 67 | 19 | 620.58 | 1.95 |
including | 57 | 59 | 2 | 1720.45 | 1.64 |
and | 64 | 66 | 2 | 2202.16 | 12.39 |
HB24DD008 | 73 | 74 | 1 | 190.44 | 0.23 |
HB24DD008 | 81 | 84 | 3 | 487.72 | 0.03 |
including | 83 | 84 | 1 | 1084.86 | 0.04 |
HB24DD009 | 58 | 62 | 4 | 236.11 | 0.04 |
HB24DD009 | 76 | 77 | 1 | 116.27 | 0.01 |
HB24DD009 | 78 | 79 | 1 | 153.30 | 0.01 |
HB24DD010 | 15 | 17 | 2 | 574.86 | 0.15 |
including | 15 | 16 | 1 | 1007.04 | 0.25 |
HB24DD010 | 33 | 41.3 | 8.3 | 336.50 | 0.08 |
including | 40 | 41.3 | 1.3 | 1379.66 | 0.35 |
HB24DD010 | 44 | 47 | 3 | 1339.85 | 1.18 |
including | 44 | 45.65 | 1.65 | 2191.03 | 0.96 |
HB24DD010 | 53.25 | 62 | 8.75 | 1115.03 | 1.44 |
including | 53.25 | 56.1 | 2.85 | 2785.70 | 0.22 |
HB24DD010 | 68.4 | 84 | 15.6 | 2237.03 | 0.53 |
including | 70 | 71 | 1 | 2264.06 | 0.23 |
and | 76 | 83 | 7 | 4311.16 | 0.10 |
with# | 80 | 81 | 1 | 1.42 % | 0.01 |
HB24DD010 | 88 | 89 | 1 | 131.48 | 0.01 |
HJ24DD014 | 25.55 | 27 | 1.45 | 180.42 | 0.01 |
HJ24DD014 | 79 | 80 | 1 | 310.13 | 0.01 |
HJ24DD014 | 125 | 126 | 1 | 113.20 | 0.02 |
HJ24DD015 | 95 | 96 | 1 | 321.92 | 0.40 |
HJ24DD015 | 101 | 103 | 2 | 191.03 | 0.10 |
HJ24DD015 | 133 | 135 | 2 | 1229.32 | 0.02 |
including | 133 | 135 | 2 | 1229.32 | 0.02 |
HJ24DD016 | 69.35 | 73 | 3.65 | 772.12 | 0.12 |
including | 69.35 | 70.15 | 0.8 | 1285.33 | 0.15 |
and | 71 | 72 | 1 | 1044.77 | 0.14 |
HJ24DD016 | 76 | 87 | 11 | 229.76 | 0.02 |
HJ24DD016 | 104.4 | 106 | 1.6 | 130.89 | 0.01 |
HJ24DD017 | 15 | 40 | 25 | 393.64 | 0.01 |
including | 28 | 29 | 1 | 1015.29 | 0.01 |
and | 34 | 35 | 1 | 2128.46 | 0.01 |
HJ24DD017 | 48 | 49 | 1 | 128.53 | 0.01 |
HJ24DD017 | 51 | 52 | 1 | 142.68 | 0.01 |
HJ24DD017 | 68 | 69 | 1 | 114.85 | 0.01 |
HJ24DD017 | 72 | 78 | 6 | 161.69 | 0.01 |
HJ24DD018 | 21 | 22 | 1 | 277.11 | 0.01 |
HJ24DD018 | 29 | 32 | 3 | 477.18 | 0.01 |
HJ24DD018 | 106 | 115 | 9 | 770.03 | 0.05 |
including | 111 | 113 | 2 | 2953.90 | 0.18 |
HJ24DD019 | 87 | 93 | 6 | 1177.43 | 0.04 |
including | 89 | 93 | 4 | 1520.58 | 0.01 |
HJ24DD020 | 70 | 71 | 1 | 199.87 | 0.01 |
HJ24DD020 | 95.55 | 100 | 4.45 | 163.33 | 0.01 |
HJ24DD020 | 104 | 108 | 4 | 196.04 | 0.01 |
HJ24DD020 | 113 | 114 | 1 | 178.65 | 0.01 |
HJ24DD020 | 119 | 120 | 1 | 203.41 | 0.01 |
HJ24RC016 | 35 | 40 | 5 | 176.13 | 0.01 |
HJ24RC016 | 43 | 44 | 1 | 114.62 | 0.01 |
HJ24RC016 | 48 | 51 | 3 | 195.16 | 0.01 |
HJ24RC016 | 62 | 63 | 1 | 109.90 | 0.01 |
HJ24RC017 | 22 | 23 | 1 | 120.87 | 0.01 |
HJ24RC018 | No significant intercepts to report | ||||
HJ24RC019 | 14 | 19 | 5 | 166.08 | 0.01 |
* Included intercepts are above >1000 ppm U3O8
# intercept is above >1% U3O8
|
Table 2: Significant intercepts >0.1 g/t Au | |||||
Hole number | From | To | Length (m) | U308ppm | Au g/t |
HB24DD005 | 47 | 47.7 | 0.7 | 233.48 | 0.51 |
HB24DD005 | 48.85 | 50 | 1.15 | 749.97 | 0.13 |
HB24DD005 | 55.4 | 56 | 0.6 | 244.09 | 0.10 |
HB24DD006 | 32 | 33 | 1 | 274.75 | 0.35 |
HB24DD006 | 37.3 | 39 | 1.7 | 6208.83 | 0.78 |
HB24DD006 | 43 | 44 | 1 | 341.97 | 0.21 |
HB24DD006 | 82 | 83 | 1 | 38.68 | 0.48 |
HB24DD006 | 86 | 87 | 1 | 58.25 | 0.43 |
HB24DD007 | 21 | 22 | 1 | 17.92 | 0.36 |
HB24DD008 | 48 | 51 | 3 | 343.34 | 0.46 |
HB24DD008 | 57 | 60.15 | 3.15 | 1220.21 | 1.10 |
including | 57 | 58 | 1 | 2185.06 | 2.89 |
with | 57.6 | 58 | 0.4 | 3631.94 | 5.96 |
HB24DD008 | 64 | 71 | 7 | 781.46 | 4.60 |
including | 64 | 67 | 3 | 1733.42 | 10.60 |
with# | 65 | 66 | 1 | 2299.44 | 24.2 |
HB24DD008 | 73 | 74 | 1 | 190.44 | 0.23 |
HB24DD008 | 79 | 80 | 1 | 30.66 | 0.10 |
HB24DD010 | 15 | 16 | 1 | 1007.04 | 0.25 |
HB24DD010 | 40 | 41.3 | 1.3 | 1379.66 | 0.35 |
HB24DD010 | 44 | 62 | 18 | 778.72 | 1.34 |
including | 44 | 47 | 3 | 1339.85 | 1.18 |
with | 52 | 53.25 | 1.25 | 54.01 | 5.51 |
including | 56.1 | 60 | 3.9 | 259.61 | 2.92 |
with | 56.1 | 58 | 1.9 | 139.39 | 5.41 |
HB24DD010 | 70 | 71 | 1 | 2264.06 | 0.23 |
HB24DD010 | 73 | 77 | 4 | 855.21 | 1.97 |
including | 74 | 77 | 3 | 1053.42 | 2.54 |
with | 74 | 76 | 2 | 545.38 | 3.54 |
HJ24DD016 | 69.35 | 72 | 2.65 | 974.04 | 0.14 |
HJ24DD018 | 111 | 113 | 2 | 2953.90 | 0.18 |
HJ24DD019 | 43 | 44 | 1 | 4.36 | 0.41 |
HJ24DD019 | 88 | 89 | 1 | 841.95 | 0.15 |
HJ24RC019 | 108 | 109 | 1 | 45.75 | 0.21 |
* Included intercepts are above >0.5g/t Au; with intercepts above >1g/t Au
# Intercepts exceed 20g/t Au |
Figure 1: Plan view of Drill Collars between Huarabagoo and Junnagunna, locations of highlight holes shown. (CNW Group/Laramide Resources Ltd.)
Figure 2: Cross section HB24DD008 looking northeast (window ±5m), Refer Figure 1 for Plan view. 2024 Huarabagoo Drill Collar location and Cross Section (HB24DD008). Note: significant intercept results for blue collar drill holes are reported in this release, assay results for red collar drill holes have not yet been released. (CNW Group/Laramide Resources Ltd.)
Figure 3: Cross section HB24DD010 looking northeast (window ±5m), Refer Figure 1 for Plan view. 2024 Huarabagoo Drill Collar location and Cross Section (HB24DD010). Note; significant intercept results for blue collar drill holes are reported in this release, assay results for red collar drill holes have not yet been released. (CNW Group/Laramide Resources Ltd.)
Figure 4: Cross Section HJ24RC009 and HJ24DD017; and Plan view of Drill Collars (CNW Group/Laramide Resources Ltd.)
Figure 5: New exploration permit EPM28807. (CNW Group/Laramide Resources Ltd.)
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