Laramide Commences 2024 Australian Drilling Campaign
- Up to 12,000 meters planned across multiple targets within the Westmoreland Conglomerate that crosses
Queensland and theNorthern Territory - Primary aim is to expand existing
Westmoreland mineral resource and to enhance the project economics - Second drill rig arriving in mid-July
- Maiden resource estimate planned at Long Pocket for year-end
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Northern Territory Geological Survey awards two exploration grants
"We are excited to see drilling underway at
"The 2024 drill program expands materially on the successful 2023 and 2022 programs which identified targets for both expansion of existing resources as well as new potential satellite deposits. The goal this year is to investigate whether the three known deposits that were the basis of the 2016 PEA study, can be linked and if so, whether this could substantially increase the deposit size."
"We believe that our large strategic land position has some of the best potential for meaningful resource growth within
Current plans call for the first rig to commence drilling at the Amphitheatre Prospect located 16km to the north-east of the Junnagunna deposit. Seven holes are planned to expand on shallow mineralisation identified in 2023 (e.g 18.41m @ 352 ppm U3O8 from 49.21m including 0.66m @ 2,452ppm (0.25%) U3O8 from 49.21m and 0.84m @1,910 ppm (0.19%) U3O8 from 69.06m)1 and will target interpreted extensions under alluvial cover to the north.
The second rig is scheduled to arrive in early July and the rigs will then move to the main resource areas to test extensions of mineralisation that potentially link the main deposits of Redtree, Huarabagoo and Junnagunna, and could enhance the economics of the deposit significantly. In addition, drilling at Long Pocket will enable a maiden resource estimation before the end of the year.
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The 2024 plan also includes returning to the
Laramide is also pleased to confirm the award of a second exploration grant from the
Currently mineral resources are defined across three deposits: Redtree, Huarabagoo and Junnagunna. These zones follow the Redtree dyke zone (approximately 10 km) on a NW trend as discrete ore bodies. The 2016 PEA3 optimized pit designs and labelled them as South, Central and North Pits respectively. The mineralisation in the 2.5km corridor between the deposits is hosted in the coarse-grained to granular
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Laramide Resources Ltd. ( |
The company plans to test the linking zone (JG-HB Link) by drilling northern extensions to the high-grade Huarabagoo4 northeast toward Junnagunna. The company is encouraged by a zone of mineralisation existing halfway between the deposits as reported in the 2013 drill program (WDD12-152 – 11m @0.13% U3O8)5 that remains open to the NE and SW.
Further resource growth is targeted through northern extensions to the 11Mlb U3O8 Junnagunna deposit. The northern extensions of the dyke are sparsely drill tested between Junnagunna and the Wanigarango uranium prospect 1.5km to the northeast (Figure 1).
Long Pocket
Long Pocket is located 7km to the east of Junnagunna (Figure 1). In-house modelling of the Long Pocket deposit has highlighted zones where infill drilling will support a maiden mineral resource estimation. The company has planned up to 1,000m drilling to ensure appropriate drill spacing in order to show continuity of mineralisation. It is anticipated that the addition of Long Pocket, which is shallow and easily accessed, to the Westmoreland Mineral Resource base would enhance the economics of the project and possibly contribute to an extended mine life profile.
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Laramide Resources Ltd.: ( |
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Laramide Resources Ltd.: ( |
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Mageera and Southern Comfort drilling
The Mageera Prospect (formerly
In 2006-2007, reconnaissance drilling at Mageera (then known as
The Southern Comfort uranium prospect is located at the southern extent of this trend and saw historical work in the 1970s. Laramide has been awarded
C
rystal Hill and
A Northern Territory Geological Survey Grant to re-invigorate exploration for critical minerals is supporting the funding of a Gradient Array IP (GAIP) survey at the Crystal Hill Prospect. Laramide has been awarded
The gradient array component will comprise a minimum of six survey blocks each roughly 1.5km2, at 200m line spacing with 50m station spacing, and dipole-dipole IP component comprising a minimum 4 survey lines of 3km for a 12km total length split between prospects
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.
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7 NT Geoscience Report ID: CR19590012 |
Laramide is focused on exploring and developing high-quality uranium assets in
The
In
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.
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