Laramide Resources Ltd., a uranium mine development and exploration company with global assets, has announced promising assay results from its 2024 drilling campaign at the Westmoreland Uranium Project in Queensland, Australia. The company’s exploration efforts have uncovered significant zones of high-grade uranium mineralization at the Amphitheatre prospect, located approximately 16 kilometers northeast of the Junnagunna deposit.
The initial drilling program at Amphitheatre has yielded impressive intercepts, including a 4.0-meter interval grading 0.52% U3O8 within a broader zone of 11.3 meters grading 0.23% U3O8. This discovery further reinforces the potential of the Westmoreland district and strengthens Laramide’s strategy to expand its mineable resources, ultimately enhancing the overall economics of the project.
Laramide’s Vice-President of Exploration, Rhys Davies, highlighted the significance of these findings, stating, “The Westmoreland Uranium Project is a prime high-quality uranium asset with compelling attributes such as shallow depth, favorable grades, straightforward metallurgy, and significant growth potential. The high-grade uranium intercepts unearthed at Amphitheatre, which is still in its early exploration phase, are extremely promising. Notably, the grades observed at Amphitheatre underscore the substantial prospectivity of the broader Westmoreland district and support Laramide’s unwavering focus on proving the expansion potential to boost mineable resources and improve the economics of a future mine. We eagerly anticipate sharing further updates with investors as more assay results become available in the upcoming weeks and months.”
The Amphitheatre uranium prospect is characterized by a prominent 400-meter by 300-meter airborne radiometric anomaly. This area was previously explored in the late 1960s and early 1970s, and Laramide rekindled its exploration efforts in 2022 and 2023. The 2024 drilling campaign, which comprised five diamond drill holes totaling 932.7 meters, focused on extending the uranium mineralization both laterally and down-dip. The initial assay results from AMD009 reveal a significant intersection of high-grade uranium mineralization, primarily observed as disseminated uraninite and torbernite within fracture fills, often associated with hematite alteration and silicification.
AMD009 marks the first hole to successfully intersect an apparent feeder mafic dyke system at approximately 190 meters downhole. This dyke is believed to be a key driver for the observed mineralization. Initial interpretations suggest that mineralization may continue northward but is likely concealed by alluvial cover, obscuring any surface radiometric response. Laramide has planned follow-up holes to evaluate this area further during the latter stages of the 2024 drilling campaign.
The 2024 Westmoreland drilling campaign is ongoing with two drilling rigs currently operating at the Junnagunna and Huarabagoo deposits. Laramide Resources is committed to exploring and developing high-quality uranium assets in both Australia and the western United States, aiming to deliver value to its stakeholders through strategic acquisitions and development of its substantial uranium projects.
