Laramide Awarded US Department of Energy Grant for Churchrock Restoration Study
Laramide Awarded US Department of Energy
Grant for Churchrock Restoration Study
TORONTO
,
Aug. 24, 2023
/CNW/ - Laramide Resources Ltd. ("
Laramide
" or the "
Company
")
(TSX: LAM) (ASX: LAM) (OTCQX: LMRXF) is pleased to announce that its US subsidiary, NuFuels
Inc, has been awarded a U.S. Department of Energy ("DOE") grant in the amount of USD
$1,756,778
to provide the funding for a joint research project ("The Project") with Los Alamos
National Laboratory ("LANL") to develop advanced in-situ recovery ("ISR) related groundwater
restoration technology.
Expenses for the DOE grant for the NuFuels/LANL Project titled "Laboratory Groundwater
Restoration R&D Bench Study with Natural Uranium Core and Groundwater" will be shared at a ratio
of approximately 40% by NuFuels, to pay for the costs of obtaining the core material and laboratory
equipment and supplies, and 60% by DOE, to provide the LANL expertise and facilities, and fund
research staff.
The Project is designed to develop groundwater restoration technology in the laboratory that will
address both the modern groundwater restoration standards in
New Mexico
, and have a significant
impact on reducing the full cycle cost related to ISR by reducing the amount of water used during the
groundwater restoration process through in-situ restoration techniques. In addition to the benefit to
the uranium industry, the technology developed would benefit many DOE and legacy industrial sites
where water-efficient remedial approaches to groundwater quality reclamation may be
advantageous.
The Project's objective is to demonstrate the capacity to restore groundwater geochemical
conditions to background levels at uranium recovery operations through the application of restoration
strategies to include: 1) groundwater sweeping, 2) active treatment through reverse osmosis and
recirculation operations, 3) amendment injections, and 4) natural and enhanced attenuation
processes.
The primary focus will be ISR restoration technologies that would result in reduced groundwater
consumption during groundwater restoration activities following uranium ISR operations, though the
results are likely to aid in the reduction of water usage at other uranium recovery related
groundwater restoration projects such as legacy tailings operations. This study will be performed
using uranium rich core collected from the Nuclear Regulatory Commission licensed ISR uranium
properties owned by NuFuels, Inc. in
New Mexico
.
Past operators ISR facilities have performed laboratory studies demonstrating the capacity to
restore groundwater concentrations of uranium to acceptable regulatory levels. Since that time,
however,
New Mexico State
regulations have changed, and groundwater uranium concentrations are
currently required to be materially lower. The Project to be undertaken by NuFuels and LANL will
largely repeat these previous laboratory demonstrations with the freshly collected core materials and
modern chemical amendments, to address the current uranium groundwater restoration standard,
thereby complying with
State of New Mexico
permitting requirements.
Marc Henderson
, President of Laramide and NuFuels commented, "We are honored to have been
awarded this Grant by the DOE. Los Alamos National Laboratory is one of the premier research
institutions in the world. We believe this Project will result in cutting edge groundwater restoration
technology that will enhance post ISR groundwater quality and be useful for groundwater restoration
programs at other uranium related legacy sites. NuFuels will reach out to stakeholders so they may
be an integral part of the Project as we move forward, and believe the work will be embraced by
both the regulatory community and community in general."
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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, 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
.
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 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.
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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, E:
CO: Laramide Resources Ltd.
CNW 07:30e 24-AUG-23