Exciting Drilling Results from Laramide Resources
Laramide Resources Ltd. (TSX: LAM, OTC: LMRXF), a prominent uranium development and exploration company, is pleased to announce promising new assay results following the recent drilling activities at their Westmoreland Uranium Project. This project, located in Queensland, has garnered attention due to its significant resource potential.
Detailed Assay Findings
Recent assays were received from approximately 32 new reverse circulation (RC) drill holes at the Long Pocket area, affirming that nearly 29 of these holes showed mineralization. The continuity of uranium mineralization is becoming well understood, particularly as drilling indicates a general spacing of less than 50m between drill holes, which significantly boosts confidence in the resource definition.
Higher-Grade Intercepts
Among the noteworthy results, several drill holes have revealed impressive uranium concentrations:
- LP24RC008: 16.00m @ 485.61 ppm U?O? from 16.00m depth, including 4.00m @ 1,264 ppm U?O? from 21.00m.
- LP24RC009: 8.00m @ 490.59 ppm U?O? from 16.00m, with 1.00m @ 1,545 ppm from 20.00m.
- LP24RC016: 4.00m @ 2,022.03 ppm U?O? from 8.00m, with 3.00m @ 2,639 ppm from 9.00m.
Company's Vision Moving Forward
Rhys Davies, the Vice-President of Exploration at Laramide, commented on the promising results, stating that the quality of the Long Pocket deposit is impressive, with good uranium grades found at very shallow depths. This supports the company’s ongoing commitment to enhancing the resource profile at Westmoreland, focusing on the effective planning of a potential future mining operation. The deposit also remains open and untested to the south, allowing for further exploration opportunities.
Next Steps for Laramide Reources
The company is anticipating the integration of these promising results into a Maiden Resource Estimation scheduled for the first quarter of 2025. Ongoing drilling across different targets within the broader Westmoreland project continues, with the final few holes expected to be finalized shortly. The company has completed over 100 holes this year, maintaining a steady flow of assay results through the upcoming quarter.
Understanding the Long Pocket Uranium Deposit
Located approximately 7 km from the main Westmoreland site, the Long Pocket deposit is now well defined, with a total of 38 infill RC drill holes completed, reaching a cumulative depth of 2,139m in 2024. This year’s drilling has confirmed consistent mineralization at depths of less than 50m, intersecting several zones that display a highly altered hematitic sandstone, suggesting the high potential of this deposit.
The Role of Qualified Personnel in Exploration
Mr. Rhys Davies, who leads the exploration efforts, emphasizes that the company employs the highest standards of geology and provides confidence in the information presented about exploration results. He is recognized as a Member of The Australasian Institute of Geoscientists and fulfills the requirements to be classified as a Competent Person under the JORC Code.
About Laramide Resources Ltd.
Laramide is dedicated to developing high-quality uranium resources in favorable jurisdictions. The company holds a selection of advanced uranium projects in regions known for rich geological tradition and historical production potential. Its assets have been strategically selected based on their size and production potential, positioning Laramide well for future operational success.
Frequently Asked Questions
What are the latest drilling results from Laramide Resources?
Recent assay results from 32 drill holes at the Long Pocket showed that 29 were mineralized, indicating high continuity and significant uranium grades.
When does Laramide plan to release its Maiden Resource Estimation?
Laramide expects to incorporate the recent drilling results into its Maiden Resource Estimation in the first quarter of 2025.
What is the significance of the Long Pocket deposit?
The Long Pocket deposit presents high-grade uranium frequently found at shallow depths, highlighting its potential for future mining efforts.
Who is leading the exploration at Laramide Resources?
The exploration efforts at Laramide are led by Rhys Davies, who is experienced in mineralization and has the necessary qualifications as a Competent Person.
What is Laramide Resources' strategy moving forward?
Laramide is focused on enhancing its resources at Westmoreland and advancing the characterization and evaluation of its uranium assets.
