Laramide releases further assay results from successful 2024 drill campaign at Westmoreland Project, Queensland, Australia
Laramide releases further assay results from
successful 2024 drill campaign at
Westmoreland Project, Queensland, Australia
Highlights:
Huarabagoo continues to deliver broad, consistent mineralisation including:
HB24DD011 –
5m
@ 2,053 ppm (0.21%) U
3
O
8
and 0.58 g/t Au from
34.5m
,
including
3.7m
@2,751 ppm (0.28%) U
3
O
8
and 0.81 g/t Au
HB24DD013 –
12m
@ 1,694 (0.17%) U
3
O
8
from
44 m
,
including
5.0m
@ 3,235 ppm (0.32%) U
3
O
8
HB24DD014 –
17m
@ 764 ppm (0.08%) U
3
O
8
from
30m
,
including
9m
@ 1,247 ppm (0.12%) U
3
O
8
and
3m
@ 5,286 ppm (0.53%) U
3
O
8
and 0.62 g/t Au from
72m
,
HB24DD015 –
22m
@ 871 ppm (0.09%) U
3
O
8
from
27m
,
including
5m
@ 2,050 ppm (0.25%) U
3
O
8
HB24DD015 –
19m
@ 965 ppm (0.1%) U
3
O
8
from
83m
,
including
6m
@ 2,622 ppm (0.26%) U
3
O
8
Results continue to demonstrate the potential to link the Huarabagoo and Junnagunna
uranium deposits:
HJ24RC014 –
15m
@ 267 ppm (0.03%) U
3
O
8
from
79m
,
including
1m
@ 1,068 ppm (0.11%) U
3
O
8
from
80m
and
1m
@ 2,128 ppm (0.21%) U
3
O
8
from
34m
TORONTO
,
Jan. 16, 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 assets in
the United States
and
Australia
, is pleased to report more assay
results from the 2024 drilling campaign completed at the Westmoreland Uranium Project
in Queensland, Australia (
"Westmoreland"
).
Further results for 7 holes of 17 holes from infill drilling at Huarabagoo and for 4 holes of 27 holes
drilled in the zone between the Huarabagoo and Junnagunna
("Link Zone")
deposits have been
received. All of the holes returned significant uranium mineralization with further gold mineralization
evident at the Huarabagoo deposit. The results from the Link Zone demonstrate that uranium
mineralisation is continuous along strike and potentially joins the two deposits. (Figure 1)
Commenting on the results, Laramide's Vice-President of Exploration
Rhys Davies
said:
"The latest results from Huarabagoo and the Link
Zone continue to show the high quality of the
project and will contribute to
an
updated Westmoreland Mineral Resource Estimate ("MRE"). The
updated MRE which will include a Maiden Resource Estimate for Long Pocket, remains on track
for delivery later in Q1 2025. The results to date have supported the objectives of the 2024 drill
program, including testing new areas for expansion which have led us to appreciate the size and
scope of the deposit.
"Additionally, this data will underpin the next phase of work at
Westmoreland
in 2025, which is
expected to include further drilling along with renewed development studies, including
geotechnical, advanced metallurgical, mining optimisation and scheduling.
"The final exploration results from the 2024 campaign are expected in the coming weeks from
Junnagunna North and Amphitheatre in
Queensland
, and from Mageera in the Northern Territory."
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.
Figure 1 Plan view of Drill Collars between Huarabagoo and Junnagunna, locations of highlight holes
shown. (CNW Group/Laramide Resources Ltd.)
Huarabagoo
The Huarabagoo deposit, located in the structural corridor between Redtree and Junnagunna, is
included in the restated 2016 Westmoreland Mineral Resource Estimate
1
.
The 2024 drilling at Huarabagoo was designed to infill data gaps within the deposit, and to also test
continuity of gold mineralisation within the system.
The reported results continue to support the model and confirm lateral continuity but also vertical
continuity, for example HB24RC014 presents multiple mineralised intercepts downhole within a
31m
zone (
30m
to
61m
) plus a higher-grade zone from
72m
:
3m
@ 0.53% U
3
O
8
and 0.62g/t Au (Figure 2, Table 2).
Figure 2. Cross section along HB24DD012, HB24DD013 & HB24DD014 looking northeast (window
±5m), Refer Figure 1 for Plan view; 2024 Huarabagoo Drill Collar location and Cross Section. (CNW
Group/Laramide Resources Ltd.)
___________________________
1
https://laramide.com/projects/westmoreland-uranium-project/
Huarabagoo-Junnagunna Link Zone
Drilling in the Huarabagoo-Junnagunna structural corridor is designed to test the mineralisation
continuity between the two deposits with the intent to further increase the overall size of the
resource. Results are encouraging and support the rationale for further testing of this zone.
Figure 3: Cross section along HJ24RC014 & HJ24RC015 looking northeast (window ±5m), Refer
Figure 1 for Plan view; 2024 Huarabagoo-Junnagunna Link Zone Drill Collar location and Cross
Section. Note; significant intercept results for blue collar drill holes are reported in this release.
(CNW Group/Laramide Resources Ltd.)
Corporate Update
Further to Laramide's release of
December 6, 2024
, regarding the
Kazakhstan
exploration
opportunity, Aral Resources (which Laramide has an option to acquire) has now been granted 21
exploration licenses that were applied for, with one license pending grant. Planning is well advanced
for the initial phase of exploration in the country which includes historical data compilation, as well as
a large-scale airborne survey expected to commence in Q2 2025. The expected budget for
Kazakhstan
exploration in 2025 is approximately
USD$2.5M
, which aligns with the requisite statutory
work commitments attached to the licenses. Most of this budget is back-end loaded, beginning in
Q3, and will be focused on initial drilling of the most promising roll front targets identified across the
very large land package.
Following the extension of Laramide's
USD$3.5M
convertible note held by Extract Capital in Q4
2024 (see news release of
October 18, 2024
), the Company ended the year in a comfortable
financial position with cash and marketable securities exceeding
CDN$5 million
. This was facilitated
by sales of a portion of the shares held in Sol Strategies, a CSE listed public company (symbol:
HODL) which traded at
22 cents
per share on
September 30, 2024
, but ended the year at
$3.02
per
share.
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.
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 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, 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
HUARABAGOO
HB24DD001
194116
8062630
86
110.8
133
-60
DD
08/08/2024
13/08/2024
HUARABAGOO
HB24DD002
194186
8062731
85
37.8
134
-50
DD
13/08/2024
14/08/2024
HUARABAGOO
HB24DD003
194185
8062731
85
117.9
134
-50
DD
20/08/2024
23/08/2024
HUARABAGOO
HB24DD004
194110
8062675
90
116.1
134
-50
DD
23/08/2024
27/08/2024
HUARABAGOO
HB24DD005
194211
8062632
86
137.8
314
-50
DD
27/08/2024
30/08/2024
HUARABAGOO
HB24DD006
194234
8062667
85
122.8
314
-50
DD
30/08/2024
01/09/2024
HUARABAGOO
HB24DD007
193970
8062353
95
88.3
314
-50
DD
01/09/2024
03/09/2024
HUARABAGOO
HB24DD008
193974
8062381
94
117.3
314
-60
DD
03/09/2024
06/09/2024
HUARABAGOO
HB24DD009
194171
8062573
88
119.6
314
-50
DD
06/09/2024
07/09/2024
HUARABAGOO
HB24DD010
194283
8062835
84
95.1
134
-50
DD
07/09/2024
09/09/2024
HUARABAGOO
HB24DD011
194303
8062858
84
90.1
134
-60
DD
09/09/2024
10/09/2024
HUARABAGOO
HB24DD012
194573
8063195
84
102.2
134
-70
DD
16/09/2024
18/09/2024
HUARABAGOO
HB24DD013
194573
8063195
84
81.5
134
-50
DD
18/09/2024
19/09/2024
HUARABAGOO
HB24DD014
194567
8063202
82
101.3
315
-55
DD
19/09/2024
24/09/2024
HUARABAGOO
HB24DD015
194660
8063383
81
107.0
314
-60
DD
24/09/2024
25/09/2024
HUARABAGOO
HB24DD016
194764
8063486
81
141.1
134
-60
DD
26/09/2024
27/09/2024
HUARABAGOO
HB24DD017
194724
8063527
80
140.7
134
-60
DD
28/09/2024
29/09/2024
HJ Link Zone
HJ24RC001
195002
8063617
81
150.0
315
-60
RC
17/08/2024
18/08/2024
HJ Link Zone
HJ24RC002
195064
8063844
79
150.0
135
-60
RC
19/08/2024
19/08/2024
HJ Link Zone
HJ24RC003
195275
8063908
79
150.0
315
-60
RC
20/08/2024
21/08/2024
HJ Link Zone
HJ24RC004
195141
8064040
79
150.0
135
-60
RC
21/08/2024
22/08/2024
HJ Link Zone
HJ24RC005
195346
8064256
78
168.0
135
-60
RC
22/08/2024
24/08/2024
HJ Link Zone
HJ24RC006
195559
8064345
77
90.0
315
-60
RC
24/08/2024
25/08/2024
HJ Link Zone
HJ24RC007
195448
8064447
77
150.0
135
-60
RC
25/08/2024
26/08/2024
HJ Link Zone
HJ24RC008
195634
8064542
78
150.0
135
-60
RC
27/08/2024
28/08/2024
HJ Link Zone
HJ24RC009
195838
8064619
78
150.0
315
-60
RC
28/08/2024
29/08/2024
HJ Link Zone
HJ24RC010
195932
8064814
77
150.0
135
-60
RC
29/08/2024
30/08/2024
HJ Link Zone
HJ24RC011
196114
8064909
77
150.0
315
-60
RC
30/08/2024
31/08/2024
HJ Link Zone
HJ24RC012
196208
8065094
77
150.0
135
-60
RC
01/09/2024
02/09/2024
HJ Link Zone
HJ24RC013
195362
8064519
77
150.0
315
-55
RC
02/09/2024
03/09/2024
HJ Link Zone
HJ24RC014
194937
8063686
79
150.0
135
-60
RC
25/09/2024
26/09/2024
HJ Link Zone
HJ24RC015
194872
8063736
80
150.0
135
-60
RC
26/09/2024
27/09/2024
HJ Link Zone
HJ24RC016
195131
8063771
80
162.0
315
-55
RC
27/09/2024
27/09/2024
HJ Link Zone
HJ24RC017
195006
8063894
78
150.0
135
-60
RC
28/09/2024
29/09/2024
HJ Link Zone
HJ24RC018
196158
8065142
79
150.0
135
-60
RC
02/10/2024
03/10/2024
HJ Link Zone
HJ24RC019
195999
8065017
77
126.0
135
-60
RC
03/10/2024
05/10/2024
HJ Link Zone
HJ24RC020
195731
8064722
77
150.0
135
-60
RC
05/10/2024
06/10/2024
HJ Link Zone
HJ24RC021
195372
8064237
79
150.0
246
-55
RC
06/10/2024
07/10/2024
HJ Link Zone
HJ24DD014
195202
8063980
78
150.3
315
-60
DD
04/09/2024
06/09/2024
HJ Link Zone
HJ24DD015
195400
8064216
79
150.3
135
-50
DD
06/09/2024
08/09/2024
HJ Link Zone
HJ24DD016
195533
8064369
77
132.5
315
-70
DD
08/09/2024
10/09/2024
HJ Link Zone
HJ24DD017
195789
8064673
78
132.3
135
-60
DD
11/09/2024
12/09/2024
HJ Link Zone
HJ24DD018
195591
8064583
77
138.3
135
-60
DD
13/09/2024
14/09/2024
HJ Link Zone
HJ24DD019
196051
8064970
77
135.3
135
-60
DD
15/09/2024
16/09/2024
HJ Link Zone
HJ24DD020
196267
8065043
77
135.0
315
-50
DD
16/09/2024
19/09/2024
HJ Link Zone
HJ24DD021
195533
8064369
77
150.2
315
-55
DD
20/09/2024
24/09/2024
Table 2: Significant intercepts >100ppm U
3
O
8
Hole
number
From
To
Length (m)
U
3
0
8
ppm
Au g/t
HB24DD011
14.3
16
1.7
150.28
0.05
HB24DD011
34
39.7
5.7
2053.35
0.58
including
34.5
38.2
3.7
2751.20
0.81
HB24DD011
70.85
82
11.2
325.27
0.01
HB24DD011
85
86
1
129.12
0.01
HB24DD012
59
60
1
249.99
0.01
HB24DD012
86
89
3
177.43
0.01
HB24DD013
52
63
11
499.23
0.01
including
59
60
1
2582.45
0.01
HB24DD013
68
80
12
1694.37
0.01
including
69
74
5
3235.49
0.01
HB24DD013
77
78
1
1042.41
0.01
HB24DD014
20
25
5
360.95
0.01
including
23
24
1
1113.16
0.01
HB24DD014
30
38
8
408.89
0.01
HB24DD014
44
61
17
764.24
0.03
including
52
61
9
1247.99
0.04
and
72
75
3
5286.75
0.62
HB24DD014
98
101.25
3.25
938.60
0.01
including
98
100
2
1423.88
0.02
HB24DD015
27
49
22
871.01
0.02
including
29
30
1
1550.65
0.01
and
38
43
5
2503.44
0.01
HB24DD015
83
102
19
964.90
0.02
including
94
100
6
2622.74
0.01
HB24DD016
17
22
5
111.76
0.01
HB24DD016
26
28
2
160.08
0.01
HB24DD016
36
37
1
117.92
0.01
HB24DD017
7
13
6
157.09
0.01
HB24DD017
75
89
14
423.32
0.05
including
81
82
1
1863.14
0.21
HJ24RC014
74
75
1
113.91
0.01
HJ24RC014
79
94
15
267.18
0.01
including
80
81
1
1068.36
0.03
HJ24RC015
108
115
7
309.42
0.01
HJ24RC020
18
39
21
181.91
0.01
HJ24RC020
95
99
4
156.57
0.04
HJ24RC021
25
29
4
200.17
0.01
HJ24RC021
32
33
1
126.17
0.01
HJ24RC021
123
125
2
397.57
0.01
HJ24RC021
137
139
2
267.97
0.01
HJ24DD021
46
49.1
3.1
377.91
0.01
HJ24DD021
51.6
53
1.4
119.69
0.01
HJ24DD021
57
58
1
104.71
0.01
* 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
HB24DD011
34.5
39
4.5
2433.58
0.72
including
36
38.2
2.2
3135.60
1.23
with
36
37
1
4563.50
2.04
HB24DD011
43
46
3
8.96
0.12
HB24DD011
84
85
1
52.47
0.15
HB24DD014
60
61
1
1123.78
0.34
HB24DD014
72
75
3
5286.75
0.62
with
74
75
1
3419.68
1.47
HB24DD014
96
97
1
16.63
0.14
HB24DD015
46
47
1
261.78
0.24
HB24DD015
84
85
1
151.53
0.23
HB24DD017
80
82
2
1352.54
0.16
HB24DD017
86
87
1
627.33
0.18
HJ24RC020
43
44
1
30.66
0.11
HJ24RC020
76
77
1
3.18
0.22
HJ24RC020
96
97
1
231.71
0.10
HJ24RC021
102
105
3
31.68
0.57
including
103
104
1
50.00
1.29
* Included intercepts are above >0.5g/t Au; with intercepts above >1g/t Au
#
I
ntercepts
exceed
20g/t Au
SOURCE
Laramide Resources Ltd.
View original content to download multimedia:
http://www.newswire.ca/en/releases/archive/January2025/16/c3860.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 16-JAN-25