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
TORONTO, Feb. 8, 2024
/CNW/ - Laramide Resources Ltd. ("Laramide" or the
"Company") (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 209m
-
- 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.
Follow us on Twitter @LaramideRes and LinkedIn
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 ("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 press release contains forward-looking statements. The
actual results could differ materially from a conclusion, forecast
or projection in the forward-looking information. Certain material
factors or assumptions were applied in drawing a conclusion or
making a forecast or projection as reflected in the forward-looking
information.
SOURCE Laramide Resources Ltd.