LARAMIDE RESOURCES ANNOUNCES FILING OF NI 43-101 PEA TECHNICAL REPORT FOR CHURCHROCK IN-SITU URANIUM PROJECT, NEW MEXICO, U.S.
TORONTO, Jan. 30, 2024 /CNW/ - Laramide Resources Ltd. ("Laramide" or the "Company") (TSX: LAM) (ASX: LAM) (OTCQX: LMRXF), following our January 11, 2024 announcement which presented a summary of economic highlights from a Preliminary Economic Assessment NI 43-101 compliant Technical Report ("PEA") for the 100% owned Churchrock In-situ Uranium Project ("Churchrock Project") located in New Mexico, U.S., Laramide is pleased to announce that the full report is now available on SEDAR, www.sedar.com/www.sedarplus.ca, as well as on the Company website, www.laramide.com.
The PEA has been prepared in accordance with the requirements of National Instrument 43-101 ("NI 43-101") by SLR International Corporation ("SLR"), an independent consulting firm with considerable expertise in mining and mineral processing, including uranium mining in the United States.
For the purposes of ASX Listing Rule 5.12, Laramide Resources cautions that the Preliminary Economic Assessment (PEA) for the Churchrock Project is not reported in accordance with the Australasian Code for Reporting of Mineral Resources and Ore Reserves 2012 (JORC Code) because the mineral resource estimate which underpins the production target, is 100% Inferred classification. The Mineral Resource Estimate underpinning the Production Target in the PEA has been prepared by a Qualified Person(s) in accordance with the requirements of NI 43-101.
The Churchrock Project PEA has been prepared in accordance with the requirements of NI 43-101 by Mark B. Mathisen, C.P.G., and Stuart E. Collins, P.E., SLR International Corporation, Houmao Liu, Ph.D., P.E., Itasca Denver Inc., Lee (Pat) Gochnour, MMSA (QP), Gochnour & Associate Inc, Walter L. Niccoli, P.E., Telesto Solutions, Inc., and Benjamin J. Schiffer, P.G., WWC Engineering, who are QPs as defined under NI 43-101.
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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, which is proposed to be developed using in-situ recovery ("ISR") 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.
This release includes certain statements that may be deemed to be "forward-looking statements". All statements in this release, other than statements of historical facts, that address events or developments that management of the Company expect, are forward-looking statements. Forward-looking statements are frequently, but not always, identified by words such as "expects", "anticipates", "believes", "plans", "projects", "intends", "estimates", "envisages", "potential", "possible", "strategy", "goals", "objectives", or variations thereof or stating that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved, or the negative of any of these terms and similar expressions. Actual results or developments may differ materially from those in forward-looking statements. Laramide disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, save and except as may be required by applicable securities laws.
Since forward-looking information address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of factors and risks. These include, but are not limited to, exploration and production for uranium; delays or changes in plans with respect to exploration or development projects or capital expenditures; the uncertainty of resource estimates; health, safety and environmental risks; worldwide demand for uranium; uranium price and other commodity price and exchange rate fluctuations; environmental risks; competition; incorrect assessment of the value of acquisitions; ability to access sufficient capital from internal and external sources; and changes in legislation, including but not limited to tax laws, royalties and environmental regulations.
SOURCE Laramide Resources Ltd.
To learn more about Laramide, please visit the Company's website at www.laramide.com or contact: Marc Henderson, President and CEO, Toronto, Canada +1 (416) 599-7363; Ann Baines, Director, Investor Relations, Toronto, Canada, +1 (647) 832-9904, E: [email protected]
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