Laramide Resources (TSX:LAM) Discovers New Uranium Zones at Westmoreland Project

Figure 1: Long Pocket and Black Hills Drilling 2023. Source: Laramide Resources Ltd.

Laramide Resources (TSX:LAM) has announced the results from its 2023 drilling campaign at the Westmoreland Uranium Project in northwest Queensland, Australia. Laramide completed over 4,000 meters of diamond drilling across 40 holes at four target areas named Amphitheatre, Long Pocket, Black Hills and Huarabagoo. Assay results were recently received for the Long Pocket and Black Hills areas after extended delays at the analytical laboratories.

Laramide’s President and CEO Marc Henderson commented in a press release: “We are pleased to have received more positive results from our 2023 drilling campaign at Westmoreland, which was completed in October. The results are highly encouraging because they lend confidence that the Westmoreland Project has the potential to expand the uranium mineralisation with satellite deposits additional to the known 51.9Mlb Mineral Resources. The consistency of today’s results supports our plans to begin modelling a maiden resource at the Long Pocket area in 2024. This ‘Long Pocket area’ includes Black Hills to the north and the newly discovered U-Valley to the south. The latest results include significant grade from Black Hills which warrants further investigation and will be a priority for the 2024 field season. The 2024 exploration plans include validation and qualification of historical work, completed in the 1970s by Rio Tinto’s predecessors.”

The objective of this drilling was to explore potential extensions of known uranium mineralization at Long Pocket ahead of Laramide’s plans to establish a maiden mineral resource estimate for the area in 2024. Additional holes investigated potential extensions of mineralization towards the Black Hills uranium prospect located 1.5 km northeast of Long Pocket. Historical exploration in these areas was conducted by companies including QML, Rio Tinto and Laramide.

At the Black Hills prospect, Laramide discovered multiple new zones of uranium mineralization from previously undrilled areas at the southern end of the broad, 1.5 by 1.0 km east-west trending airborne radiometric anomaly.

The 15 exploration holes at Long Pocket tested for northerly and northeasterly extensions to the flat-lying uranium mineralization. Results from drill holes LP23DD-002, -008 and -011 presented step outs of over 100 meters from known shallow mineralization. Holes LP23DD-006 and -015 suggest the potential for a mineralized corridor towards the Black Hills prospect which requires further investigation.

Reconnaissance sampling earlier in 2023 at Laramide’s U-Valley prospect returned significant rock chip assays up to 1.49% U3O8 over two sub-parallel, approximately 200-meter-long east-west trending zones. While grab samples are discrete point data, the outcropping uranium mineralization will be a priority target for follow-up work in 2024.

Figure 2: Westmoreland Project showing key uranium deposits/Targets. Source: Laramide Resources Ltd.
Highlights from the results are as follows:
2023 Drilling campaign included 15 holes at Long Pocket and 3 holes at Black Hills uranium prospects.
  • All Black Hills exploration drill holes return significant mineralisation:
    • BH23DD001 – 3.0m @ 259ppm U3O8 from 29m depth
    • BH23DD001 – 6.05m @ 218ppm U3O8 from 120.12m depth
      • Including 0.98m@ 505ppm U3O8 from 120.12m
    • BH23DD002 – 2.0m @ 591 ppm (0.06%) U3O8 from 209m
      • Including 0.9m @ 1154ppm U3O8 from 210.1m
    • BH23DD003 – 3.0m @ 1844ppm (0.18%) U3O8 from 88m
      • Including 2.00m @ 2671ppm (0.27%) U3O8 from 89m
  • Assay results from Long Pocket confirm that shallow uranium mineralisation continues to the north-east:
    • LP23DD002 – 1.0m @ 545ppm U3O8 from 42.0m
    • LP23DD006 – 0.68m @ 980ppm U3O8 from 81.0m
    • LP23DD008 – 0.73m @ 149ppm U3O8 from 4.93m
    • LP23DD011 – 0.96m @ 109ppm U3O8 from 21.54m
    • LP23DD015 – 1.02m @ 692ppm U3O8 from 51.9m
  • Rock chips from U-Valley prospect return up to 1.49% U3O8
  • Long Pocket maiden resource modelling planned for 2024

Three scout holes at the Black Hills Prospect were drilled in 2023, each intercepting multiple zones of mineralisation with results including:

  • BH23DD001 – 3.0m @ 259ppm U3O8 from 29m depth
  • BH23DD001 – 0.98m@ 505ppm U3O8 from 120.12m
  • BH23DD002 – 2.0m @ 591 ppm (0.06%) U3O8 from 209m
    • Including 0.9m @ 1154ppm (0.12%) U3O8 from 210.1m
  • BH23DD003 – 3.0m @ 1844ppm (0.18%) U3O8 from 88m
    • Including 2.00m @ 2671ppm (0.27%) U3O8 from 89m
  • LP23DD002 – 1.0m @ 545ppm U3O8 from 42.0m
  • LP23DD006 – 0.68m @ 980ppm U3O8 from 81.0m
  • LP23DD008 – 0.73m @ 149ppm U3O8 from 4.93m
  • LP23DD011 – 0.96m @ 109ppm U3O8 from 21.54m
  • LP23DD015 – 1.02m @ 692ppm U3O8 from 51.9m

Table 1: 2023 Long Pocket and Black Hills – Drill Collar details

HOLE ID

Prospect

GDA94_Easting

GDA94_Northing

Dip

Azimuth

Depth (m)

BH23DD001

Black Hills

205691

8066136

-50

205

186.3

BH23DD002

Black Hills

205407

8066209

-50

175

219.5

BH23DD003

Black Hills

205277

8066067

-50

355

240.6

LP23DD001

Long Pocket

204809

8065402

-80

355

51.7

LP23DD002

Long Pocket

204857

8065314

-80

355

51.7

LP23DD003

Long Pocket

205008

8065406

-80

355

54.8

LP23DD004

Long Pocket

205168

8065504

-80

355

69.8

LP23DD005

Long Pocket

204907

8065501

-80

355

57.7

LP23DD006

Long Pocket

205009

8065611

-80

355

96.7

LP23DD007

Long Pocket

204693

8065366

-80

355

42.7

LP23DD008

Long Pocket

204551

8065400

-80

355

45.9

LP23DD009

Long Pocket

204452

8065406

-80

355

45.8

LP23DD010

Long Pocket

204336

8065394

-80

355

42.7

LP23DD011

Long Pocket

204110

8065377

-80

355

42.7

LP23DD012

Long Pocket

205337

8065619

-80

355

132.7

LP23DD013

Long Pocket

205510

8065853

-80

355

78.9

LP23DD014

Long Pocket

205562

8065742

-80

355

51.7

LP23DD015

Long Pocket

205733

8065979

-50

25

150.5

Table 2: Black Hill and Long Pocket Significant intercepts (>100ppm U3O8)

HOLE ID

Prospect

From

To (m)

Interval
Length(m)

U3O(ppm)

BH23DD001

Black Hills

29.00

32.0

3.00

259

120.12

121.10

0.98

505

122.20

126.17

3.97

214

BH23DD002

Black Hills

51.60

52.65

1.05

158

179.00

181.00

2.00

135

183.00

183.80

0.80

149

184.93

185.73

0.80

262

209.00

211.00

2.00

591

including

209.00

209.90

0.90

1154

BH23DD003

Black Hills

20.90

22.00

1.10

222

73.00

74.00

1.00

133

83.18

86.00

2.82

246

88.00

91.00

3.00

1844

including

89.00

91.00

2.00

2671

LP23DD001

Long Pocket

No significant intercepts

LP23DD002

Long Pocket

42.00

43.00

1.00

535

LP23DD003

Long Pocket

No significant intercepts

LP23DD004

Long Pocket

No significant intercepts

LP23DD005

Long Pocket

No significant intercepts

LP23DD006

Long Pocket

81.00

81.68

0.68

980

86.50

87.22

0.72

249

LP23DD007

Long Pocket

No significant intercepts

LP23DD008

Long Pocket

4.93

5.66

0.73

149

LP23DD009

Long Pocket

No significant intercepts

LP23DD010

Long Pocket

No significant intercepts

LP23DD011

Long Pocket

21.54

22.50

0.96

109

LP23DD012

Long Pocket

No significant intercepts

LP23DD013

Long Pocket

No significant intercepts

LP23DD014

Long Pocket

No significant intercepts

LP23DD015

Long Pocket

51.90

52.92

1.02

692

Table 3 – U-Valley Rock Chip sample details

Sample ID

Easting
(GDA94,z54)

Northing
(GDA94, z54)

U3O8ppm (ME_ICP61)

U3O8%
(ME-XRF30)

WP269

204215

8063467

4870

n/a

WP267

204029

8063220

6650

n/a

WP263

204040

8063310

517

n/a

WP262

204094

8063487

>10,000

1.49

The above references an opinion and is for information purposes only. It is not intended to be investment advice. Seek a licensed professional for investment advice. The author is not an insider or shareholder of any of the companies mentioned above.

By Matthew Evanoff

I specialize in the mining industry, focusing on top global mining stocks. My reporting covers the latest industry news, company/project developments, and profiles of key players. With a degree in finance and economics from the University of Toronto, I've contributed to a wide range of industry publications. Beyond my professional pursuits, I have a keen interest in global business and a love for travel.

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