Laramide's 2024 Drill Program Continues to Return Strong Results at the Westmoreland Project in Queensland, Australia, including Notable Gold Mineralisation
Results continue to demonstrate the potential to link the Huarabagoo and Junnagunna uranium deposits
HJ24DD017 – 25.00m @ 393.64 ppm (0.04%) U3O8 from 15.00m,
including 1.00m @ 1,015.29 ppm (0.10%) U3O8 from 28.00m
and 1.00m @ 2,128.46 ppm (0.21%) U3O8 from 34.00m
HJ24DD019 – 6.00m @ 1,177.43 ppm (0.12%) U3O8 from 87.00m,
including 4.00m @ 1,520.58 ppm (0.15%) U3O8 from 89.00m
Uranium mineralisation at Huarabagoo continues to deliver impressive results including:
HB24DD010 – 15.60m @ 2,237.03 ppm (0.22%) U3O8 and 0.53 g/t Au from 68.40m,
including 1.00m @ 2,264.06 ppm (0.23%) U3O8 and 0.23 g/t Au from 70.00m
and 7.00m @ 4311.16 ppm (0.43%) U3O8 and 0.10 g/t Au from 76.00m
with highest intercept result of 1.00m @ 1.42% U3O8 and 0.01 g/t Au from 80.00m
Broad zones of gold mineralisation were also intercepted with grades up to 24.2g/t Au
HB24DD008 – 19.00m @ 620.58 ppm (0.06%) U3O8 and 1.95 g/t Au from 48.00m,
including 2.00m @ 1,720.45 ppm (0.17%) U3O8 and 1.64 g/t Au from 57.00m
and 2.00m @ 2,202.16 ppm (0.22%) U3O8 and 12.39 g/t Au from 64.00m
with highest intercept result of 1.00m @ 2,299.44 ppm (0.22%) U3O8 and 24.20g/t Au from 65.00m
HB24DD006 – 8.00m @ 1,449.86 ppm (0.14%) U3O8 & 0.22 g/t Au from 36.00m,
including 1.70m @ 6,208.83 ppm (0.62%) U3O8 & 0.78 g/t Au from 37.60m.
New Exploration Permit (EPM 28807) granted adjacent to Westmoreland Project adding 327km2 of highly prospective tenure in NW Queensland
TORONTO, Dec. 9, 2024 /CNW/ - Laramide Resources Ltd. ("Laramide" or the "Company") (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 ("Westmoreland") and the receipt of a permit for exploration for a large land package immediately east of and adjacent to the current Westmoreland land tenure.
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.)
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.
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.
To learn more about Laramide, please visit the Company's website at www.laramide.com
Follow us on Twitter @LaramideRes
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.
Forward-looking Statements and Cautionary Language
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 the 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 addresses 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.
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 exceed20g/t Au
SOURCE Laramide Resources Ltd.
Marc Henderson, President and CEO, Toronto, Canada +1 (416) 599 7363; Ann Baines, Director, Investor Relations, Toronto, Canada +1 (647) 832-9904
Laramide is engaged in the exploration and development of high-quality uranium assets. Its wholly owned uranium assets are in Australia and the United States. Each of Laramide’s portfolio of five advanced uranium projects have been chosen for their production potential....
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