{kanada_flagge}Canada’s Laramide Resources Ltd (TSX: LAM; ASX: LAM; OTCQX: LMRXF) is taking advantage of the end of the Australian rainy season to drill a total of approximately 4,000 m of exploration holes at its uranium projects Down Under, building on its successful work from the previous year. The first of ten planned drill holes has started at the Amphitheatre uranium project in Westmoreland, Queensland. Subsequent resource drilling is planned at the nearby Long Pocket and Huarabagoo projects. Concurrent field work is also underway on strategic, historically known targets at the Murphy Project in the adjacent Northern Territory (see Figure 1).
{kanada_flagge}Canada’s Laramide Resources Ltd (TSX: LAM; ASX: LAM; OTCQX: LMRXF) is taking advantage of the end of the Australian rainy season to drill a total of approximately 4,000 m of exploration holes at its uranium projects Down Under, building on its successful work from the previous year. The first of ten planned drill holes has started at the Amphitheatre uranium project in Westmoreland, Queensland. Subsequent resource drilling is planned at the nearby Long Pocket and Huarabagoo projects. Concurrent field work is also underway on strategic, historically known targets at the Murphy Project in the adjacent Northern Territory (see Figure 1).
Drilling at the Amphitheatre property is expected to confirm historical results and expand the zones of mineralization identified in 2021. At the advanced Long Pocket project, drilling is expected to provide an initial mineral resource estimate. Drilling R at Huarabagoo is for resource expansion ahead of a planned global resource update. In addition, drilling at Huarabagoo will target gold mineralization discovered in 2012.
Ground radiometric surveys are underway at the Murphy project in the Northern Territories. Laramide is the first company in more than 40 years to systematically explore for uranium and base metal deposits there after BHP identified targets in the 1970s. Laramide plans to explore this large mineral system, which has returned remarkable results from historical sampling and contains significant tin, tungsten, REE and vanadium deposits, as well as copper and gold.
Figure 1: Laramide’s holdings in Australia showing major uranium deposits and new metal occurrences.
Commenting on the planned activities, Marc Henderson, President and CEO of Laramide, said: “After a late and extensive rainy season, it is great to see the field teams begin what we believe will be a major and consistent exploration effort over our large land package in northern Australia. A successful hiring process brings in experienced employees and contractors with a long-term perspective to build institutional knowledge of the project. We are pleased to have Rhys Davies back on board to lead this aggressive campaign. Rhys previously worked for Laramide during the 2006-2009 resource drilling campaign.”
Amphitheatre
The Amphitheatre uranium project is located 16 km northeast of the Junnagunna uranium deposit and appears as a strong 400 m x 300 m radiometric anomaly from the air. Visible secondary uranium minerals such as carnotite and torbernite are present at surface and are hosted in the PTW4 unit of the Westmoreland Conglomerate. The mineralization identified in the 2022 drilling appears to be associated with the mafic intrusion and has similarities to other nearby uranium deposits, namely Redtree, Huarabagaoo and Junnagunna, which together host a resource of 51.9 million pounds of U3O8.
The area has been the subject of historical exploration in the late 1960s and early 1970s, which included percussion drilling and diamond drilling with narrow intercepts of up to 0.838% U3O8[2] with visible uraninite and torbernite.
Significant results (>200ppm U3O8) from the 2022 drilling include:
– AMDD001 – 3m @ 507ppm U3O8 from 59m, including 1m @ 1072ppm (0.107%) U3O8.
Up to 10 drill holes totaling 1,000m have been designed to validate historical drilling and determine the architecture of the mafic intrusive unit to understand geological influences on mineralization.
Long Pocket and Black Hills
Long Pocket is located 7 km east of the Junnagunna uranium deposit and 12 km northeast of Redtree (see Figure 1). Based on the encouraging results of the 2022 exploration drilling, Laramide will undertake a more extensive drilling program to define the resources at Long Pocket in the 2023 field season. Initial exploration drilling is also planned for the nearby Black Hills uranium deposit.
Black Hills, located 1 km northeast of Long Pocket, has a broad airborne radiometric anomaly. Historical drill results (QML, 1970) include 3.13 @ 0.44% U3O8 (DDL018) and 7.77m @ 0.14% U3O8 (DDL013) which were not followed up during Laramide’s tenure.
Significant drill results (>200ppm U3O8) from 2022 include:
– LP22DD001 – 2m @ 403ppm U3O8 from surface and 2.7m @ 718ppm U3O8 from 39.3m.
Importantly, the results extend the range of known uranium mineralization in sandstone to the northeast. They also confirm the shallow and flat lying nature of the mineralization.
Huarabagoo
Laramide has identified zones of potential mineralization extension at the Huarabagoo deposit that will be tested with up to 1,000 m of resource expansion drilling. Huarabagoo is located in the structural corridor between Redtree and Junnagunna (Figure 1) and is currently included in the Westmoreland resource. The Huarabagoo deposit and Huarabagoo-Junnagunna structural corridor is the least explored of the three main deposits at Westmoreland and was last drill tested in 2012. This identified new zones of mineralization with growth potential and interesting gold results (2 m at 6.1 g/t Au and 4 m at 30.9 g/t Au).
The 2023 drilling campaign will be conducted entirely as a single-layer diamond program using a combination of NQ and HQ core drilling. The program is expected to be fully completed by October 2023.
Murphy Project
The Murphy Project was acquired to strategically control the known geological center of the Westmoreland uranium deposits and is therefore highly prospective for uranium. However, the Murphy Inlier also hosts numerous other mineral occurrences and deposits including tin, tungsten, copper, rare earths, vanadium and gold.
Concurrent with drilling at Westmoreland, the Laramide team has commenced field work at the Murphy Project. The project area hosts numerous uranium and base metal targets, some of which have not been explored on site for decades. Initial work is focused on ground radiometric surveys to refine airborne radiometric anomalies, as well as rock and soil sampling at surface.
Figure 3: A view of Crystal Hill (tin/tungsten) in the Murphy project.
Laramide’s strategy is to expand its global and Australian project portfolio. Rhys Davies has been appointed head of programs in Australia. Rhys Davies returns to Laramide as a former employee, bringing his knowledge of the Westmoreland and Murphy projects. Davies has more than 17 years of mineral exploration and project management experience in the resources industry. His career spans Australasia, Europe, the Middle East and North Africa and includes commodities such as uranium, copper, cobalt, gold, tin, REEs and diamonds.
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