Laramide Confirms High-Grade Uranium Expansion Potential at Westmoreland
Laramide Confirms High-Grade Uranium
Expansion Potential at Westmoreland
Highlights:
2023 drilling campaign included 13 holes for infill and extension at the Huarabagoo uranium
deposit.
High grade uranium intercepts include:
HB23DD002 –
1.5m
@ 1,448ppm (0.14%)
U
3
O
8
from
74.5m
HB23DD004 –
19m
@ 519ppm U
3
O
8
from
47m
Including
2.00m
@ 1,690ppm (0.17%)
U
3
O
8
from 53m
HB23DD005 –
6m
@ 682ppm (0.07%) U
3
O
8
from
50m
Including
1m @ 1,066ppm
U
3
O
8
(0.11%)
from
50m
and
0.89m @ 1,798ppm (0.18%) U
3
O
8
from
54.75m
HB23DD006 –
3m
@ 1,236ppm (0.12%)
U
3
O
8
from
102m
Including
1m @ 2,305ppm (0.23%) U
3
O
8
from
103m
HB23DD007 –
11m
@ 747ppm (0.07%) U
3
O
8
from
42m
Including
2m
@ 1,389ppm (0.14%)
U
3
O
8
from
45m
and
1m @ 1,739ppm (0.17%)
U
3
O
8
from
49m
ALSO
5m @ 833ppm (0.08%) U
3
O
8
from
71m
Including
1m
@ 1,651ppm (0.17%)
U
3
O
8
from
73m
ALSO
–
7m
@ 3,041ppm (0.30%)
U
3
O
8
from
80m
Including
5m @ 4,204ppm (0.42%) U
3
O
8
from
81m
With
1m @ 10,353ppm (1.04%) U
3
O
8
from
82m
HB23DD008 –
6.00m
@ 847ppm (0.08%) U
3
O
8
from
43.00m
Including
1m @ 1,098ppm (0.11%)
U
3
O
8
from
44m
and
0.36m @ 6,851ppm (0.69%)
U
3
O
8
from
47.54m
HB23DD009 –
5m
@ 2,478ppm (0.25%)
U
3
O
8
from
61m
HB23DD010 –
8m
@ 722ppm (0.07%) U
3
O
8
from
65m
Including
1.45m
@ 2,028 (0.20%)
U
3
O
8
from
71m
ALSO
11.9m @ 915ppm (0.09%)
U
3
O
8
from
75m
including
5m
@ 1,621 (0.16%)
U
3
O
8
from
78m
Drillholes HB23DD002 to 007 also support extensions to over
250m
strike of a gold zone
identified in 2012, results include:
HB23DD002 –
1m
@ 0.90g/t Au from
15m
2m
@ 3.10g/t Au from
56m
1.5m
@ 0.31g/t Au from
74.5m
HB23DD004 –
8m
@ 0.84 g/t Au from
47m
including
4m
@1.17g/t Au from
51m
AND
9.55m
@ 0.53g/t Au from
56.45m
Including
2.38m
@ 1.13g/t Au from
63m
HB23DD005 –
8m
@ 0.54 g/t Au from
58m
Including
1m
@2.06g/t Au from
64m
TORONTO
,
Feb. 20, 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 Huarabagoo deposit at the Westmoreland Project in
NW Queensland
.
Thirteen drill holes were successfully completed in
November 2023
, with the primary objective of
infilling zones that had been historically drilled, and to test for potential extensions of mineralisation to
the northeast, beyond the footprint of the existing resource
1
.
All 13 holes intercepted multiple zones of mineralisation (>100ppm U
3
O
8
) with some zones
displaying grades exceeding 1.0% U
3
O
8
(see Table 2). The uranium mineralisation is hosted in the
Westmoreland
sandstone unit adjacent to the intrusive mafic Redtree dyke system.
The high-grade mineralisation intercepted at Huarabagoo improves the confidence in the integrity of
the deposit with tighter spacing of less than
50m
in some places. Ultimately, once modelled, this
may lead to an improved resource classification of the deposit which is currently described with
5.8Mlbs U
3
O
8
@ 0.109 % (Inferred) and 2.7Mlbs U
3
O
8
@ 0.083% (Indicated).
2
Furthermore, some
drilling tested
200m
to the north-east of the currently modelled zones and showed continuity of
mineralisation that requires further investigation.
Commenting on the exploration results, Laramide's President and CEO,
Marc Henderson
said:
"We are pleased to continue to report more positive results from the drilling campaign at
Westmoreland
, which was completed in
November 2023
. The high-grade results underscore the
quality of the
Westmoreland
asset lending confidence to the technical merits of the project and that
there is significant scope for growth, conceivably doubling the size of the Huarabagoo Resource.
"Resource growth is one of key goals of the 2024 field season and the technical team is in the final
planning stages of a multi-rig drilling program.
"In addition to the strong uranium grades, the deposits also host zones of significant gold and
vanadium mineralisation. Evidence of significant gold grades had been explored in the early
1980s, and while Laramide remains focused on the uranium opportunity, further studies will help
us identify whether possible beneficiation of these minerals will enhance the economics of the
project as we progress towards development."
_______________________________
1
https://laramide.com/projects/westmoreland-uranium-project/
2
https://laramide.com/projects/westmoreland-uranium-project/
Huarabagoo deposit
The Huarabagoo deposit is about 3km northeast from the Redtree uranium deposit along the
Redtree dyke zone (Figure 1) and straddles the contact between the Seigal Volcanics and the
Westmoreland Conglomerate. The mineralisation outcrops at the southern end and is concealed to
the north under 2 to
3m
of sandy alluvium and 5 to
8m
of weathered basalt of the Seigal Volcanics.
The deposit comprises a 3km zone of vertical mineralisation associated with a complex dyke
geometry with vertical and horizontal branches between two principal dykes.
Figure 1: Huarabagoo Drilling (2023) showing significant U3O8 intercepts, see Figure 2 for Cross
Section NW-SE detail (CNW Group/Laramide Resources Ltd.)
All 13 holes intercepted multiple zones of mineralisation (>100ppm U
3
O
8
) with some zones
displaying grades exceeding 1.0% U
3
O
8
(Table 2).
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.
Zones of higher grade generally occur within moderate patchy chlorite altered sandstone, with
highest grade displaying pervasive chlorite and hematite alteration.
The 2.5km corridor between Huarabagoo deposit and the Junnagunna deposit (Figure 3) is a
compelling target for resource growth. The results from the northeast extensions provide further
confidence in this target as it has historically been very sparsely drilled. Indeed, Laramide previously
reported a 'new zone' of significant uranium mineralisation
900m
to the northeast of Huarabagoo in
2012.
3
______________________________
3 TSX: Laramide Identifies New Zone of Mineralization in Initial Drilling Results at Westmoreland (October 17th, 2012)
Figure 2: HB23DD002 & HB23DD007 X-Section (NW-SE, looking NE) (CNW Group/Laramide
Resources Ltd.)
Gold Mineralisation
In 2012 Laramide intercepted significant gold mineralisation (
4m
@ 30.9g/t Au) in drillhole WDD12-
167
4
. Drillholes HB23DD002 to 007 (Figure 2) were designed to not only test infill of uranium
mineralisation, but also assess the continuity of the gold mineralisation. The results now support
extensions to over
250m
strike of the gold zone drilled in 2012. Further work and validation are
required as no systematic assessment of gold mineralisation has been undertaken since the 1980s.
Significant results from this year's drilling include:
HB23DD002
–
1m
@ 0.90g/t Au
from
15m
2m @ 3.10g/t Au
from 56m
1m @ 0.31g/t Au
from
74.5m
HB23DD004
–
8m
@ 0.84 g/t Au
from
47m
including
4m
@1.17g/t Au
from
51m
AND
9.55m
@ 0.53g/t Au
from
56.45m
Including
2.38m
@ 1.13g/t Au
from
63m
HB23DD005
–
8m
@ 0.54 g/t Au
from
58m
Including
1m
@2.06g/t Au
from
64m
_______________________________
4
TSX: Laramide Continues to Expand New Zone of Mineralization at Westmoreland High grade gold also drilled at Huarabagoo (January 9
th
, 2013)
Figure 3: Current Mineral Resources at Westmoreland (CNW Group/Laramide Resources Ltd.)
Table 1: 2023 Huarabagoo – Drill Collar details
Hole ID
Prospect
GDA94_Easting
GDA94_Northing
Dip
Azimuth
Depth
(m)
HB23DD001
Huarabagoo
194411
8063082
-60
124
129.7
HB23DD002
Huarabagoo
194236
8062844
-60
124
126.7
HB23DD003
Huarabagoo
194156
8062727
-70
124
126.7
HB23DD004
Huarabagoo
194130
8062703
-55
124
68.7
HB23DD005
Huarabagoo
194128
8062703
-57
124
126.5
HB23DD006
Huarabagoo
194280
8062674
-60
304
126.5
HB23DD007
Huarabagoo
194332
8062760
-60
304
126.5
HB23DD008
Huarabagoo
194528
8063070
-60
304
126.5
HB23DD009
Huarabagoo
194510
8063039
-60
304
126.5
HB23DD010
Huarabagoo
194360
8063039
-60
124
126.4
HB23DD011
Huarabagoo
194875
8063599
-60
304
126.6
HB23DD012
Huarabagoo
194875
8063599
-90
355
126.7
HB23DD013
Huarabagoo
194875
8063599
-60
124
126.5
Table 2: Huarabagoo Significant uranium intercepts (>100ppm
U
3
O
8
)
HOLE ID
From
To (m)
Interval Length
(m)
U3O8 ppm
HB23DD001
86.00
87.00
1.00
192.21
HB23DD001
125.10
126.00
0.90
216.97
HB23DD002
14.00
15.00
1.00
357.30
HB23DD002
57.00
58.00
1.00
188.67
HB23DD002
74.50
76.00
1.50
1447.67
HB23DD002
including
75.00
76.00
1.00
2034.12
HB23DD002
78.00
80.00
2.00
692.84
HB23DD002
83.00
85.00
2.00
169.51
HB23DD002
89.00
91.00
2.00
186.02
HB23DD002
93.10
94.00
0.90
491.73
HB23DD003
1.00
2.00
1.00
398.57
HB23DD003
63.00
64.00
1.00
258.25
HB23DD003
68.00
69.00
1.00
180.42
HB23DD003
100.00
101.00
1.00
457.53
HB23DD004
0.00
4.00
4.00
310.28
HB23DD004
47.00
66.00
19.00
519.44
HB23DD004
including
53.00
55.00
2.00
1690.44
HB23DD005
0.00
4.00
4.00
420.44
HB23DD005
45.00
48.00
3.00
205.46
HB23DD005
50.00
56.00
6.00
682.10
HB23DD005
including
50.00
51.00
1.00
1066.00
HB23DD005
including
54.75
55.64
0.89
1798.28
HB23DD005
58.00
67.05
9.05
277.65
HB23DD005
93.00
97.00
4.00
203.56
HB23DD006
99.00
100.00
1.00
135.02
HB23DD006
102.00
105.00
3.00
1236.20
HB23DD006
including
103.00
104.00
1.00
2305.34
HB23DD007
42.00
53.00
11.00
746.97
HB23DD007
including
45.00
47.00
2.00
1388.51
HB23DD007
including
49.00
50.00
1.00
1739.32
HB23DD007
66.00
69.00
3.00
173.74
HB23DD007
71.00
76.00
5.00
832.99
HB23DD007
including
73.00
74.00
1.00
1650.88
HB23DD007
80.00
87.00
7.00
3041.24
HB23DD007
including
81.00
86.00
5.00
4203.61
HB23DD007
including
82.00
83.00
1.00
10353.38
HB23DD008
43.00
49.00
6.00
846.86
HB23DD008
including
44.00
45.00
1.00
1097.84
HB23DD008
including
47.54
47.90
0.36
6851.15
HB23DD008
56.00
57.00
1.00
313.67
HB23DD008
61.00
61.67
0.67
189.85
HB23DD008
72.00
72.94
0.94
113.09
HB23DD009
61.00
66.00
5.00
2477.74
HB23DD009
including
62.00
66.00
4.00
2921.47
HB23DD009
69.80
71.00
1.20
465.78
HB23DD009
74.00
77.00
3.00
993.52
HB23DD009
including
74.00
75.00
1.00
2771.12
HB23DD010
65.00
73.00
8.00
721.82
HB23DD010
including
71.00
72.45
1.45
2027.61
HB23DD010
75.00
86.90
11.90
914.75
HB23DD010
including
78.00
83.00
5.00
1621.40
HB23DD010
91.00
92.00
1.00
577.81
HB23DD011
112.00
113.00
1.00
136.79
HB23DD012
72.00
76.07
4.07
358.24
HB23DD012
84.00
85.00
1.00
285.37
HB23DD012
87.00
88.00
1.00
119.69
HB23DD012
90.00
92.00
2.00
142.09
HB23DD013
17.00
18.00
1.00
404.47
HB23DD013
83.00
88.00
5.00
140.21
Table 3: Huarabagoo Significant gold intercepts (>0.1g/t Au)
HOLE ID
From
To (m)
Interval Length
(m)
Au g/t
HB23DD001
19.00
20.00
1.00
0.18
HB23DD002
15.00
17.00
2.00
0.67
HB23DD002
including
15.00
16.00
1.00
0.90
HB23DD002
56.00
58.00
2.00
3.11
HB23DD002
74.50
76.00
1.50
0.31
HB23DD002
78.00
80.00
2.00
0.21
HB23DD003
1.00
3.40
2.40
0.20
HB23DD003
44.00
48.00
4.00
0.14
HB23DD003
101.00
102.00
1.00
0.15
HB23DD004
47.00
55.00
8.00
0.84
HB23DD004
including
48.00
49.00
1.00
1.69
HB23DD004
including
51.00
55.00
4.00
1.17
HB23DD004
56.45
66.00
9.55
0.53
HB23DD004
including
56.45
57.00
0.55
1.59
HB23DD004
including
60.00
61.00
1.00
0.53
HB23DD004
including
63.00
65.38
2.38
1.13
HB23DD005
46.00
55.64
9.64
0.74
HB23DD005
including
47.00
48.00
1.00
1.37
HB23DD005
including
50.00
52.00
2.00
2.28
HB23DD005
including
54.75
55.64
0.89
0.76
HB23DD005
58.00
66.00
8.00
0.54
HB23DD005
including
58.00
59.00
1.00
1.36
HB23DD005
including
64.00
65.00
1.00
2.06
HB23DD007
47.00
52.00
5.00
0.15
HB23DD008
44.00
45.00
1.00
0.24
HB23DD008
47.00
47.54
0.54
0.10
HB23DD008
72.94
74.00
1.06
0.39
HB23DD009
64.00
65.00
1.00
0.26
HB23DD010
65.00
67.00
2.00
0.58
HB23DD010
including
66.00
67.00
1.00
0.97
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.
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
Australia
and the
western
United States
. 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 largest projects 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.
View original content to download multimedia:
http://www.newswire.ca/en/releases/archive/February2024/20/c7649.html
%SEDAR: 00003540E
For further information:
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 20-FEB-24