Laramide Assay Results from Long Pocket and Black Hills Prospects Support Expansion Potential at Westmoreland
Laramide Assay Results from Long Pocket
and Black Hills Prospects Support Expansion
Potential at Westmoreland
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 U
3
O
8
from
29m
depth
BH23DD001 –
6.05m
@ 218ppm U
3
O
8
from
120.12m
depth
Including 0.98m@ 505ppm U
3
O
8
from
120.12m
BH23DD002 –
2.0m
@ 591 ppm (0.06%)
U
3
O
8
from
209m
Including
0.9m
@ 1154ppm
U
3
O
8
from
210.1m
BH23DD003 –
3.0m
@ 1844ppm (0.18%)
U
3
O
8
from
88m
Including
2.00m
@ 2671ppm (0.27%) U
3
O
8
from
89m
Assay results from Long Pocket confirm that shallow uranium mineralisation continues to the
north-east:
LP23DD002 -
1.0m
@ 545ppm U
3
O
8
from
42.0m
LP23DD006 –
0.68m
@ 980ppm U
3
O
8
from
81.0m
LP23DD008 –
0.73m
@ 149ppm U
3
O
8
from
4.93m
LP23DD011 –
0.96m
@ 109ppm U
3
O
8
from
21.54m
LP23DD015 –
1.02m
@ 692ppm U
3
O
8
from
51.9m
Rock chips from U-Valley prospect return up to 1.49% U
3
O
8
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 U
3
O
8
from
29m
depth
BH23DD001 - 0.98m@ 505ppm U
3
O
8
from
120.12m
BH23DD002 -
2.0m
@ 591 ppm (0.06%) U
3
O
8
from
209m
Including
0.9m
@ 1154ppm
(0.12%)
U
3
O
8
from
210.1m
BH23DD003 -
3.0m
@ 1844ppm
(0.18%)
U
3
O
8
from
88m
Including
2.00m
@ 2671ppm
(0.27%)
U
3
O
8
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 U
3
O
8
from
42.0m
LP23DD006 –
0.68m
@ 980ppm U
3
O
8
from
81.0m
LP23DD008 –
0.73m
@ 149ppm U
3
O
8
from
4.93m
LP23DD011 –
0.96m
@ 109ppm U
3
O
8
from
21.54m
LP23DD015 –
1.02m
@ 692ppm U
3
O
8
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
Figure 1: Long Pocket and Black Hills Drilling 2023 (CNW Group/Laramide Resources Ltd.)
Table 2: Black Hill and Long Pocket Significant intercepts (>100ppm U
3
O
8
)
HOLE ID
Prospect
From
To (m)
Interval
Length(m)
U
3
O
8
(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 prospect
1
, the four
in-situ, rock chips samples taken during reconnaissance work in 2023 have returned significant
uranium mineralisation grading up to 1.49% U
3
O
8
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)
U
3
O
8
ppm (ME_ICP61)
U
3
O
8
%
(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.
Figure 2: Westmoreland Project showing key uranium deposits/Targets (CNW Group/Laramide
Resources Ltd.)
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.
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http://www.newswire.ca/en/releases/archive/February2024/08/c4315.html
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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 08-FEB-24