Laramide Signs Agreement with the United States Forest Service Towards the Reinitiation of the EIS FOR the LA Jara Mesa Project IN New Mexico
LARAMIDE SIGNS AGREEMENT WITH THE
UNITED STATES FOREST SERVICE
TOWARDS THE REINITIATION OF THE EIS
FOR THE LA JARA MESA PROJECT IN NEW
MEXICO
TORONTO
,
Jan. 19, 2024
/CNW/ - Laramide Resources Ltd. ("
Laramide
" or the "
Company
")
(TSX: LAM) (ASX: LAM) (OTCQX: LMRXF) is pleased to announce the recommencement of the
review process of the Draft Environmental Impact Statement ("DEIS") for La Jara Mesa, which will
ultimately lead to the completion of the Final Environmental Impact Statement and a United States
Forest Service ("USFS") Record of Decision ("ROD"). Laramide has signed an agreement with the
USFS, Cibola National Forest and National Grasslands to fund the services required to restart the
USFS National Environmental Policy Act ("NEPA") analysis.
The DEIS for the La Jara Mesa Mine Project was originally published in
May 2012
on the Federal
Register and was available for public review as announced by the Company on
May 22, 2012
1
. The
public review process was the final step towards the EIS. However, due to progressively
unfavourable uranium market conditions, Laramide elected to pause the permitting process.
____________________________
1
https://bit.ly/49XSuxQ
Today's announcement recognizes that Cibola National Forest and National Grasslands of the USFS
is in receipt of the La Jara Mesa Mine Plan of Operations, developed by Laramide, which proposes
to build and operate an underground mine on their unpatented mining claims on La Jara Mesa in the
Mount Taylor Ranger District. The Cibola National Forest will prepare an environmental impact
statement in accordance with NEPA to assess the development of a uranium exploration and mining
operation.
A copy of the DEIS can be found at Laramide's website (
www.laramide.com
) or through the
following link:
https://laramide.com/projects/la-jara-mesa-uranium-project/
La Jara Mesa Overview
The La Jara Mesa project is in the prolific Grants Mineral Belt, ten miles northeast of the town of
Grants
in
Cibola County, New Mexico
, USA. The deposit was discovered in 1980 and developed
through 1983 by Power Resources on behalf of Midas International, the then project owner. Both
Homestake Mining Company and Laramide Resources subsequently performed validation drilling of
the deposit. To date over 700 holes have been completed.
La
Jara Mesa
is a sandstone hosted, roll- front style deposit. Laramide's NI 43-101 compliant
mineral resource estimate
2
for La Jara reports 7,257,817 pounds of uranium (U
3
O
8
) in the
Measured and Indicated classifications, contained in 1,555,899 tons at an average grade of 0.23%
U
3
O
8
. In addition, there are 3,172,653 pounds of U
3
O
8
in the Inferred mineral resource
classification, contained in 793,161 tons at an average grade of 0.20% U
3
O
8
on the property.
_____________________________
2
2 (wp-laramide-2023.s3.ca-central-1.amazonaws.com)
Qualified Person
The technical information presented in this news release has been reviewed and approved by
Rhys
Davies
(M.Geol, MSc, MAIG, RPGeo, FGS) who is a qualified person as defined by National
Instrument 43-101, Standards of Disclosure for Mineral Projects.
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 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.
View original content:
http://www.newswire.ca/en/releases/archive/January2024/19/c2397.html
%SEDAR: 00003540E
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 19-JAN-24