Laramide Releases Final Results from 2024 Drill Campaign at Westmoreland; Updated Resource Estimate on Track for Q1 Delivery
Laramide Releases Final Results from 2024
Drill Campaign at Westmoreland; Updated
Resource Estimate on Track for Q1 Delivery
Highlights:
Laramide's largest program ever with 106 holes completed
Multiple targets tested including infill and extensional drilling of known zones and
greenfield targets in both
Queensland
and the Northern Territory
Consistent observation from results demonstrates the potential and scope for broad
mineralisation styles enveloping narrow high-grade intercepts
The consistency and scalability underscore economic viability and reinforce
Westmoreland's
position as a potentially important future source of global uranium
supply
Resource expansion potential is largely wide open with many follow-up targets
warranting large-scale future exploration campaigns
TORONTO
,
Feb. 21, 2025
/CNW/ -
Laramide Resources Ltd.
(
"Laramide"
or the
"Company"
)
(TSX: LAM) (ASX: LAM) (OTCQX: LMRXF), a uranium mine development and exploration company
with globally significant projects in
the United States
,
Australia
and
Kazakhstan
, is pleased to report
a summary of the 2024 drilling campaign completed at the Westmoreland Uranium Project in
Queensland, Australia
(
"Westmoreland"
). The 2024 drill program has concluded with successful
results confirming the high-quality of the
Westmoreland
uranium deposit and supporting a Global
Mineral Resource Estimate Update expected by the end of Q1 2025.
The 2024 Drill program was designed to improve the Westmoreland Mineral Resource through
extensional and infill drilling of uranium mineralisation and to gain a deeper understanding of the
potential for gold mineralisation within the system. As well, following up on Laramide's past
campaigns, targets were identified to explore satellite uranium deposits with long-term outlook for
sustained project growth. And finally, to advance on-ground access logistics and targeting within the
Murphy Project in the Northern Territory (see Figure 1 for scope of the project area).
Significantly, results from the 2024 drilling program returned broad mineralisation from each
prospect area. Notably, many of these wide intercepts envelope narrow high-grade intercepts found
across the
Westmoreland
project area (see Figure 2).
Results for eleven holes from infill drilling at Junnagunna, three holes drilled at Amphitheatre, and two
exploration holes from the Southern Comfort-Mageera Trend in the Northern Territory have recently
been received. Receipt of these results conclude a successful program. The 2024 drilling campaign
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.
Commenting on the results, Laramide's Vice-President of Exploration
Rhys Davies
said:
"The 2024 Drill Campaign represents Laramide's most ambitious effort to date, with 106 holes for
over 11,000 metres drilled across the Westmoreland Project. This aggressive approach was
designed to demonstrate the scalability and quality of the
Westmoreland
asset, reinforcing our
commitment to advancing to its full potential."
Figure 1: Westmoreland and Murphy Projects showing prospect locations (CNW Group/Laramide
Resources Ltd.)
Figure 2: Map showing examples of broad mineralised intercepts from 2024 drilling at key Resource
Target areas Huarabagoo, Junnagunna and the link zone (note: JG24DD010 results recently
received, all other results previously announced1) (CNW Group/Laramide Resources Ltd.)
Figure 2: Map showing examples of broad mineralised intercepts from 2024 drilling at key Resource
Target areas Huarabagoo, Junnagunna and the link zone (note: JG24DD010 results recently
received, all other results previously announced
1
)
______________________________
1
News Release 16 January 2025: Laramide releases further assay results from successful 2024 drill campaign at Westmoreland Project, Queensland, Australia
Junnagunna
The Junnagunna deposit, located in the structural Redtree corridor, is included in the restated 2016
Westmoreland Mineral Resource Estimate
2
.
The 2024 drilling at Junnagunna was designed to extend and infill data gaps within the deposit
(Figure 3). The reported results continue to support the model and confirm lateral continuity but also
vertical continuity, reflecting narrow higher grading intercepts within broad mineralizing envelopes.
JG24DD004 –
8.00m
@ 325.61 ppm U
3
O
8
from
26.00m
, including
1.00m
@ 1,297.12 ppm
U
3
O
8
from
28.00m
JG24DD010 –
10.00m
@ 693.90 ppm U
3
O
8
from
32.00m
, including
2.00m
@ 2,617.82 ppm
U
3
O
8
from
33.00m
JG24DD003 confirms continuity of mineralisation intersected in historical drilling along strike to the
north-east. JG24DD008 intersected the dyke feeder system however JG24DD009 and JG24DD010
(drilled along the fence line to the north – see Figure 3) intersected notable mineralization but did not
intersect the dyke. Mineralisation remains open to the north-east and future exploration drilling could
delineate the extents.
Figure 3: JG24DD009 & JG24DD010 Cross-section and plan view of drill hole locations displaying
mineralisation intersected downhole. (CNW Group/Laramide Resources Ltd.)
____________________________
2
https://laramide.com/projects/westmoreland-uranium-project/
Amphitheatre
Drilling in 2024 comprised a total of 8 diamond holes (
1,334.55m
). Initial 5 holes (AMD008-AMD012
previously reported) targeted extensions to uranium mineralisation both laterally and down dip and
successfully identified new zones for follow up. The final holes (AMD013-AMD015) followed up on
potential blind mineralisation continuing to the north, obscured by cover.
Drilling successfully intersected mineralisation near surface and at depth and indicates potential for
broad mineralizing zones to the north of Amphitheatre.
AMD013 –
3.00m
@ 853.74 ppm U
3
O
8
and 0.15 g/t Au from
112.00m
, including
1.00m
@
1,450.42 ppm U
3
O
8
and 0.38 g/t Au from
114.00m
Importantly, AMD014 intercepted 10 discrete zones of sandstone hosted uranium mineralisation
<100ppm U
3
O
8
(Table 2 and Figure 4) located 500 meters to the north of AMD013 presenting a
significant exploration target, buried under alluvial cover, which will be subject to more exploration
drilling in 2025.
Figure 4: AMD014 Cross-section displaying multiple zones of mineralisation intersected downhole,
and 2024 drillhole locations at Amphitheatre. (CNW Group/Laramide Resources Ltd.)
Southern Comfort/Mageera
Two holes totaling
303.55 m
were completed at the Northern Territory "Southern Comfort" prospect
which is situated at the base of a northeast trending fault, known as the JN Fault, and is the focal
feature of the Mageera Zone. The geological setting is analogous to the Westmoreland Uranium
Deposit. Offset to the southwest of the JN fault is the Southern Comfort Lineament ("SCL").
Historical drilling has lightly tested this region, however limited modern exploration has occurred
since.
The drill program sought to delineate the SCL extensions and test the conformity related uranium,
vanadium and REE potential of the Seigal Volcanics-Westmoreland Conglomerate.
SC24DD001 peaked at 260.04 ppm at U
3
O
8
& 1,082.19 ppm V
2
O
5
from
8.00m
along the faulted
contact between Seigal Volcanics-Westmoreland Conglomerate faulted contact.
Figure 5: SC24DD02 Cross-section displaying mineralisation intersected downhole and plan view of
drill hole locations at Southern Comfort Prospect. (CNW Group/Laramide Resources Ltd.)
SC24DD002 was funded by the Northern Territory Geological Survey as part of the Geophysical and
Drilling Collaboration program. Samples were subject to multi-element analysis for uranium and other
critical minerals such as vanadium and rare earth elements (REEs) that might be associated with the
Southern Comfort-Mageera trend. Drilling intersected an overlying Seigal Volcanics in faulted contact
with the Westmoreland Conglomerate, hosting a dolerite dyke. Uranium, minor gold and moderate
vanadium confirms enrichment at this contact, successfully testing the geological concept (
0.4m
@
346.68ppm U
3
O
8
and 1238.93ppm V
2
O
5
from
20.4m
depth). No Rare Earth anomalism was noted.
Results from both holes are considered a technical success in identifying anomalism along the
conformity and further work is planned at Southern Comfort and the Mageera Zone in 2025.
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.
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 and 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 km
2
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: Drill Collar Details
Prospect
Hole ID
GDA_Easting
GDA_Northing
RL (m)
Depth (m)
Grid Azi
Dip
Hole type
Drilling
started
Drilling completed
AMPHITHEATRE
AMD008
209879
8074908
93
241.6
90
-60
DD
01/07/2024
09/07/2024
AMPHITHEATRE
AMD009
209928
8074816
90
202.9
270
-80
DD
10/07/2024
15/07/2024
AMPHITHEATRE
AMD010
209954
8074725
90
203.4
90
-60
DD
15/07/2024
26/07/2024
AMPHITHEATRE
AMD011
209958
8074620
99
200.3
90
-60
DD
26/07/2024
02/08/2024
AMPHITHEATRE
AMD012
209928
8074820
90
84.5
90
-55
DD
03/08/2024
05/08/2024
AMPHITHEATRE
AMD013
209700
8074902
94
150.55
90
-50
DD
29/10/2024
31/10/2024
AMPHITHEATRE
AMD014
209906
8075341
68
125.65
80
-50
DD
01/11/2024
02/11/2024
AMPHITHEATRE
AMD015
209428
8075270
67
125.65
94
-50
DD
02/11/2024
04/11/2024
JUNNAGUNNA
JG24DD001
197607
8066711
78
158.05
135
-50
DD
02/10/2024
05/10/2024
JUNNAGUNNA
JG24DD002
197299
8066964
77
98.6
139
-50
DD
03/10/2024
05/10/2024
JUNNAGUNNA
JG24DD003
197120
8067186
77
104.6
135
-50
DD
06/10/2024
13/10/2024
JUNNAGUNNA
JG24DD004
196897
8066059
78
114.4
135
-55
DD
08/10/2024
11/10/2024
JUNNAGUNNA
JG24DD005
196932
8066142
78
117.5
135
-55
DD
12/10/2024
14/10/2024
JUNNAGUNNA
JG24DD006
196946
8066019
78
120.1
135
-55
DD
13/10/2024
16/10/2024
JUNNAGUNNA
JG24DD007
196977
8066091
80
114.3
131
-55
DD
15/10/2024
18/10/2024
JUNNAGUNNA
JG24DD008
197030
8066051
81
120.7
135
-55
DD
19/10/2024
21/10/2024
JUNNAGUNNA
JG24DD009
197127
8066101
78
131.7
135
-55
DD
18/10/2024
20/10/2024
JUNNAGUNNA
JG24DD010
197019
8066195
78
120.1
135
-55
DD
17/10/2024
18/10/2024
JUNNAGUNNA
JG24DD011
197089
8065993
79
126.4
135
-55
DD
22/10/2024
25/10/2024
JUNNAGUNNA
JG24RC001
196986
8065965
77
114
317
-75
RC
01/09/2024
01/10/2024
SOUTHERN COMFORT
SC24DD001*
817207
8058777
112
101.65
140
-60
DD
23/10/2024
24/10/2024
SOUTHERN COMFORT
SC24DD002*
816005
8058560
119
201.9
144
-55
DD
24/10/2024
27/10/2024
* drill collar co-ordinates are in GDA94 Zone 53
Table 2: Significant intercepts >100ppm U
3
O
8
Hole
number
From
To
Length (m)
U
3
0
8
ppm
Au g/t
JG24DD001
38
39.3
1.3
303.05
0.01
JG24DD002
No Significant Intercepts
JG24DD003
16
17
1
137.97
0.03
JG24DD003
50
51
1
153.30
0.01
JG24DD004
26
34
8
325.61
0.01
including
28
29
1
1297.12
0.01
JG24DD005
24.25
28
3.75
491.22
0.01
JG24DD006
35
36
1
127.94
0.01
JG24DD006
41
44
3
1192.17
0.01
including
43
44
1
2606.03
0.01
JG24DD007
20
22
2
136.79
0.01
JG24DD007
25
28
3
1773.91
0.05
including
27
28
1
4610.67
0.12
JG24DD008
42
43
1
265.32
0.01
JG24DD008
65
66
1
707.52
0.01
JG24DD008
69
73
4
255.13
0.01
JG24DD008
77
78
1
449.81
0.01
JG24DD008
89
95
6
394.93
0.01
JG24DD009
30
32
2
392.67
0.03
JG24DD009
53
54
1
136.79
0.01
JG24DD010
32
42
10
693.90
0.01
including
33
35
2
2617.82
0.01
JG24DD010
45
46
1
103.42
0.01
JG24DD010
78
80
2
3177.94
0.01
JG24DD011
No Significant Intercepts
JG24RC001
No Significant Intercepts
AMD013
4
5
1
126.17
0.01
AMD013
47
52
5
152.31
0.01
AMD013
85
90
5
148.08
0.01
AMD013
103
104
1
159.19
0.01
AMD013
112
115
3
853.74
0.15
including
114
115
1
1450.42
0.38
AMD014
19
21
2
153.00
0.02
AMD014
37
38
1
101.76
0.005
AMD014
48
50
2
143.57
0.055
AMD014
66
68
2
209.90
0.005
AMD014
75
77
2
234.07
0.055
AMD014
80
82
2
267.68
0.02
AMD014
87
88
1
103.42
0.005
AMD014
93
94
1
110.49
0.005
AMD014
103
104
1
108.13
0
AMD014
118
119
1
114.85
0.005
AMD015
32
33
1
237.02
0.01
AMD015
71
72
1
172.16
0.01
AMD015
109
111
2
122.99
0.03
AMD015
118
119
1
212.85
0.02
SC24DD001
No Significant Intercepts
SC24DD002
20.4
23
2.6
280.76
0.11
* Included intercepts are above >1000 ppm U
3
O
8
#
intercept is above >1% U
3
O
8
Table 3: Significant intercepts >0.1 g/t Au
Hole
number
From
To
Length (m)
U
3
0
8
ppm
Au g/t
JG24DD005
57
60
3
14.66
0.13
JG24DD005
103
104.35
1.35
4.60
0.30
JG24DD007
27
28
1
4610.67
0.12
JG24DD007
85
88
3
1.38
0.37
including
86
87
1
1.42
0.73
JG24DD007
91
92
1
1.30
0.40
JG24DD008
117
118
1
13.56
0.20
JG24DD011
9
10
1
2.36
0.19
SC24DD002
22.1
23
0.9
217.56
0.19
AMD013
97
98
1
49.05
0.11
AMD013
114
115
1
1450.42
0.38
AMD015
85
86
1
8.73
0.27
* Included intercepts are above >0.5g/t Au; with intercepts above >1g/t Au
Table 4: Significant intercepts >200 ppm V
Hole
number
From
To
Length (m)
U
3
0
8
ppm
V
2
O
5
ppm
SC24DD001
0
9
9
34.28
437.02
including
4
5
1
3.89
578.40
And
8
9
1
260.04
1082.19
SC24DD002
0
22.1
22.1
30.26
373.51
including
14
15
1
2.59
526.63
and
20.4
20.8
0.4
346.68
1238.93
* Included intercepts are above >500 ppm V
2
O
5
SOURCE
Laramide Resources Ltd.
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For further information:
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
CO: Laramide Resources Ltd.
CNW 07:30e 21-FEB-25