Laramide Australian drilling proceeding as planned; Strong downhole gamma radioactivity confirms mineralisation at initial three targets

CNW Group
12 min read

In This Article:

Highlights:

  • Second drill rig has completed RC drilling at Long Pocket

    • All 38 planned RC drillholes completed (for 2,139 meters) at the Long Pocket prospect and on track for maiden Mineral Resource Estimation expected by Q1 2025

    • Composite downhole gamma responses over 1m of up to 13,993 counts per second ("cps") (including 27,319 cps1) confirm shallow mineralisation

  • 5 diamond drillholes for 932.7 meters completed at Amphitheatre

    • Downhole gamma probe 1m composites of up to 1m 16,426 cps2 (including 20,312 cps) supports extensions to mineralisation

  • First assay results expected Q3 2024

  • Two rigs now at Huarabagoo and Junnagunna with resource extension drilling underway; initial hole indicates wide mineralised intervals with peak 1m gamma composites of up to 6,992 cps (including 13,350cps)3

  • First hole at Huarabagoo extended because mineralisation continued further down from the initial planned hole depth of 80m.

TORONTO, Aug. 19, 2024 /CNW/ - Laramide Resources Ltd. ("Laramide" or the "Company") (TSX: LAM) (ASX: LAM) (OTCQX: LMRXF), a uranium mine development and exploration company with globally significant assets in the United States and Australia, is pleased to provide an update on its drilling activities at the Westmoreland Uranium Project in Queensland, Australia ("Westmoreland").

As reported on June 20, 2024, this season's exploration drilling campaign at Westmoreland is comprised of up to 12,000 meters of diamond and RC drilling across multiple targets and is designed to potentially expand the resource at existing deposits and to identify potential satellite deposits, which might materially impact either the ultimate mine life of the project or contribute to the potential for increased scale of operations. The program is planned to test up to five targets and is off to an excellent start with positive results already obtained from the first three targets drilled. The findings are supported by downhole gamma probe readings, geological logging and hand-held scintillometer analysis. An initial batch of samples were sent for assaying in late July and the first assay results are expected to be returned within the next couple of weeks.

____________________________
1 Note: downhole gamma probe analysis at 10cm intervals

2 AusLog W450-1 downhole gamma probe used. 0.5x correction applied here for consistency and comparison to Reflex EX-Gamma. Raw cps actually 32,925cps.

3 Note to reader, rigs utilising different gamma probes; no calculation on eU3O8 has been undertaken and probe data used to support sampling procedure.

Commenting on the exploration results, Laramide's Vice-President of Exploration Rhys Davies said:

Recommended Stories