Laramide Resources (ASX:LAM) reports results from its initial diamond drilling program confirms the location and tenor of uranium roll fronts at Churchrock, within the company’s Crownpoint-Churchrock Uranium Project in New Mexico, US.
The initial program consisted of 7 drillholes for 1,838m, located in areas of uranium mineralisation. In addition, 3 of these drillholes were ‘twin holes’ drilled within 20 feet of historic drillholes.
Laramide Resources reports the recent drilling conducted at Churchrock confirmed historical drilling results are suitable for resource estimations and agreed with previous studies, displaying there is low risk of depletion of chemical uranium.
This is compared to radiometric uranium in the Churchrock mineralisation, and also provides core for the testwork necessary to obtain the New Mexico Aquifer Discharge Permit, which is the final permit needed for the project.
Laramide reports the following chemical assays show an average thickness of 18.3 feet (ft) of 0.061% U3O8, compared to a gamma-equivalent average thickness of 20.5ft @ 0.046% U3O8 from the nearby historic holes.
The chemical assays of uranium were compared to recent and historic gamma-equivalent uranium grades from the Westwater Canyon B Sand, which was the 2022 drill program’s primary target and the primary mineralised sand targeted for ISR mining.
In addition, both comparisons favourably validate that the historic drilling results are suitable for declaring mineral resources.
Laramide states the drilled twin holes were also designed to confirm the range of uranium grades that were encountered in the historical drillholes and provides drill core for chemical assays and radiometric equilibrium analysis
The Crownpoint-Churchrock Uranium Project is being managed by a wholly owned subsidiary of Laramide Resources, NuFuels. NuFuels will oversee the company’s asset portfolio in the United States.
The project covers 2 project areas including, a large ISR project, and a former uranium mining operation, La Jara Mesa in the historic Grants, New Mexico mining district, and La Sal, a fully permitted, underground project in Lisbon Valley, Utah.
Laramide Resources is engaged in the exploration and development of ‘high-quality’ uranium assets. Its wholly owned uranium assets are in Australia and the US. The company’s Westmoreland project in Queensland, Australia is one of the ‘largest’ projects currently held by a junior mining company.
Images: Laramide Resources Ltd
