As reported on June 20, 2024 1 , this season’s exploration drilling marketing campaign at Westmoreland commenced on the Amphitheatre prospect roughly 16km northeast of the Junnagunna deposit, a deposit which is included within the 2016 PEA examine 2 . Assays have been acquired from the primary two holes drilled and embody zones of shallow, high-grade uranium mineralisation together with 4.0m @ 0.52% U 3 O 8 (and together with inside 1.0m @ 1.00% U 3 O 8 ) inside a broader zone of 11.3m @ 0.23% U 3 O 8.
Moreover, there may be gold mineralisation related to the system, together with 2.90m @1.52 g/t Au from 39.1m (AMD009).
Commenting on the exploration outcomes, Laramide’s Vice-President of Exploration Rhys Davies mentioned:
“The Westmoreland Uranium Challenge is a premier high-quality uranium asset with enviable traits together with shallow depth, good grade, easy metallurgy and progress potential. The high-grade uranium intercepts which are being discovered at shallow depths on the Amphitheatre prospect, which continues to be at an early exploration stage, are very promising. Importantly, the tenor of the grades seen at Amphitheatre spotlight the numerous prospectivity of the broader district of Westmoreland and helps Laramide’s centered consideration on proving out the growth potential in direction of rising the mineable sources and enhancing the economics of a future mine. We look ahead to updating traders as extra assay outcomes are acquired over the approaching weeks and months.”
Amphitheatre Uranium Prospect
The Amphitheatre uranium prospect is positioned 16km northeast of the Junnagunna uranium deposit and expresses as a powerful 400m x 300m airborne radiometric anomaly. The world was topic to historic exploration within the late Sixties and early Seventies 3 with Laramide rediscovering its potential within the 2022 and 2023 drill applications.
Drilling in 2024 comprised 5 diamond holes ( 932.7m ), which focused extensions to uranium mineralisation each laterally and down dip and efficiently recognized new zones for comply with up. Preliminary composite downhole assay outcomes from AMD009 embody 4.0m @ 0.52% U 3 O 8 (together with inside 1.0m @ 1.00% U 3 O 8 ) inside a broader zone of 11.30m @ 0.23% U 3 O 8 from 38m downhole (Desk 2).
The Amphitheatre Prospect geology consists of the Cliffdale Volcanics and Westmorland Conglomerate and is predominantly located inside a stratigraphic basal pebble conglomerate (Ptw1). An interpreted north-south trending fault bounds stratigraphy to the east with a large, medium sandstone and scattered quartz pebbles (Ptw2). Mineralisation is interpreted to be structurally and stratigraphically managed, displaying an japanese downthrow with no obvious lateral motion (Ptw2 expressing to the east and Ptw1 to the west). Drilling in 2022 and 2023 indicated in depth remobilisation had occurred with secondary mineralisation (noticed as carnotite, autunite, torbernite) 4 to the west of the north-south fault, whereas mineralisation to the east of the fault contains of each major and secondary mineralisation.
AMD009 intersected high-grade uranium mineralisation predominately noticed as disseminated uraninite and torbernite inside fracture fill and is variably related to hematite alteration and silicification. A community of quartz veining with epithermal textures can also be famous in zones which have returned substantial Au outcomes.
AMD009 is the primary gap to have efficiently intersected an obvious feeder mafic dyke system at roughly 190m downhole. This dyke is taken into account a key driver for mineralisation.
Preliminary interpretation means that mineralisation might proceed to the north however below alluvial cowl, which obscures any floor radiometric response. Comply with up holes to check this area are being deliberate for the tip of the 2024 drilling marketing campaign.
|
Desk 1: Drill Collar Particulars |
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|
Prospect |
Gap ID |
GDA_Easting |
GDA_Northing |
RL (m) |
Depth (m) |
Grid Azi |
Dip |
Gap sort |
Drilling began |
Drilling accomplished |
|
AMPHITHEATRE |
AMD008 |
209879 |
8074908 |
93 |
241.6 |
90 |
-60 |
DD |
01/07/2024 |
09/07/2024 |
|
AMPHITHEATRE |
AMD009 |
209928 |
8074816 |
90 |
202.9 |
270 |
-80 |
DD |
10/07/2024 |
15/07/2024 |
|
AMPHITHEATRE |
AMD010 |
209954 |
8074725 |
90 |
203.4 |
90 |
-60 |
DD |
15/07/2024 |
26/07/2024 |
|
AMPHITHEATRE |
AMD011 |
209958 |
8074620 |
99 |
200.3 |
90 |
-60 |
DD |
26/07/2024 |
02/08/2024 |
|
AMPHITHEATRE |
AMD012 |
209928 |
8074820 |
90 |
84.5 |
90 |
-55 |
DD |
03/08/2024 |
05/08/2024 |
|
Desk 2: Vital intercepts >100ppm U 3 O 8 |
|||||
|
Gap |
From |
To |
Size |
U 3 O 8 ppm |
Au g/t |
|
AMD008 |
29.00 |
30.00 |
1.00 |
148.58 |
0.01 |
|
AMD008 |
56.00 |
58.00 |
2.00 |
305.41 |
0.03 |
|
AMD008 |
63.00 |
64.00 |
1.00 |
155.65 |
0.01 |
|
AMD008 |
70.00 |
71.00 |
1.00 |
298.34 |
0.04 |
|
AMD008 |
74.00 |
75.00 |
1.00 |
170.98 |
0.01 |
|
AMD008 |
84.00 |
85.00 |
1.00 |
146.81 |
0.02 |
|
AMD008 |
96.00 |
101.00 |
5.00 |
142.21 |
0.01 |
|
AMD008 |
143.00 |
144.00 |
1.00 |
474.04 |
0.02 |
|
AMD008 |
150.00 |
160.00 |
10.00 |
260.10 |
0.01 |
|
AMD008 |
165.00 |
167.00 |
2.00 |
124.41 |
0.01 |
|
AMD008 |
171.00 |
172.00 |
1.00 |
123.82 |
0.01 |
|
AMD008 |
173.00 |
174.00 |
1.00 |
104.24 |
0.01 |
|
AMD008 |
232.00 |
233.00 |
1.00 |
116.86 |
0.01 |
|
AMD009 |
20.00 |
21.00 |
1.00 |
112.02 |
0.01 |
|
AMD009 |
36.70 |
48.00 |
11.30 |
2274.26 |
0.46 |
|
Together with* |
38.00 |
42.00 |
4.00 |
5230.49 |
1.12 |
|
Which |
40.00 |
41.00 |
1.00 |
9960.00 |
2.10 |
|
And* |
46.70 |
48.00 |
1.30 |
2334.82 |
0.05 |
|
AMD009 |
52.00 |
54.00 |
2.00 |
171.43 |
0.03 |
|
AMD009 |
69.00 |
71.00 |
2.00 |
267.97 |
0.09 |
|
AMD009 |
137.00 |
138.00 |
1.00 |
106.72 |
0.01 |
|
AMD009 |
141.00 |
142.00 |
1.00 |
209.90 |
0.01 |
|
*included intercepts are above >1000 ppm U 3 O 8 . |
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The 2024 Westmoreland drilling marketing campaign is continuous with two rigs at the moment working on the Junnagunna and Huarabagoo deposits.
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________________________________ |
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5 Westmoreland Mineral Useful resource Estimates embody an Indicated Mineral Useful resource totalling 36.0 million kilos of uranium contained in 18.7 million tonnes at a mean grade of 0.089% U 3 O 8 and an Inferred Mineral Useful resource totalling 15.9 million kilos of uranium contained in 9.0 million tonnes at a mean grade of 0.083% U 3 O 8 |
|
6 The Could 2009 Mineral Useful resource Estimates for Westmoreland has been reviewed to make sure compliance with JORC 2012 and is restated because the 2016 Mineral Useful resource. All materials assumptions and technical parameters underpinning the estimates proceed to use and haven’t materially modified. |
Certified/Competent Particular person
The knowledge on this announcement regarding Exploration Outcomes relies on data compiled or reviewed by Mr. Rhys Davies , a contractor to the Firm. Mr. Davies is a Member of The Australasian Institute of Geoscientists and has adequate expertise which is related to the fashion of mineralisation and sort of deposit into consideration and to the exercise which he’s endeavor to qualify as a Competent Particular person as outlined within the JORC 2012 Version of the ‘Australasian Code for Reporting of Exploration Outcomes, Mineral Sources and Ore Reserves’, and is a Certified Particular person below the rules of the Nationwide Instrument 43-101. Mr. Davies consents to the inclusion on this announcement of the issues primarily based on his data within the type and context by which it seems. All materials assumptions and technical parameters underpinning the estimates within the related market announcement proceed to use and haven’t materially modified pursuant to Itemizing Rule 5.23.
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About Laramide Sources Ltd.:
Laramide is targeted on exploring and creating high-quality uranium property in Australia and the western United States . The corporate’s portfolio contains predominantly superior uranium initiatives in districts with historic manufacturing or superior geological prospectivity. The property have been rigorously chosen for his or her dimension, manufacturing potential, and the 2 massive initiatives are thought-about to be late-stage, low-technical danger initiatives.
The Westmoreland challenge in Queensland, Australia , is without doubt one of the largest uranium improvement property held by a junior mining firm. This challenge has a PEA that describes an economically sturdy, open-pit mining challenge with a mine lifetime of 13 years. Moreover, the adjoining Murphy Challenge within the Northern Territory of Australia is a greenfield asset that Laramide strategically acquired to manage nearly all of the mineralized system alongside the Westmoreland development.
In the USA , Laramide’s property embody the NRC licensed Crownpoint-Churchrock Uranium Challenge. An NI 43-101 PEA examine accomplished in 2023 has described an in-situ restoration (“ISR”) manufacturing methodology. The Firm additionally owns the La Jara Mesa challenge within the historic Grants mining district of New Mexico and an underground challenge, referred to as La Sal, in Lisbon Valley, Utah.
This press launch incorporates forward-looking statements. The precise outcomes may differ materially from a conclusion, forecast or projection within the forward-looking data. Sure materials elements or assumptions had been utilized in drawing a conclusion or making a forecast or projection as mirrored within the forward-looking data.
SOURCE Laramide Sources Ltd.
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