Laramide Resources (ASX:LAM) is kicking off its 2023 exploration drilling program at the Amphitheatre prospect within its Westmoreland Uranium Project in Queensland, Australia.
The $120.25 million market capitalisation company says the program comprises up to 4,000m of diamond drilling across the project area, aimed at validating historical drilling and extending zones of mineralisation identified in 2021.
Upon completion, resource drilling will proceed at the known targets at the nearby Long Pocket and Huarabagoo deposits.
This drilling program is designed to build towards a maiden Mineral Resource Estimate (MRE) for the Long Pocket deposit, alongside a planned global resource update, and to target gold mineralisation observed in 2012 at Huarabagoo.
Commenting on the exploration activities, Laramide Resources President and Chief Executive Officer Marc Henderson says: “Resource definition drilling at Long Pocket will expand on the encouraging 2022 drilling results and support resource extension drilling at Huarabagoo as we seek to grow our global resource base at Westmoreland.
“We look forward to following up on the 2022 drilling ore grade intercepts at Amphitheatre, building an understanding of mineralisation controls, and assessing the potential deposit scale”
We look forward to following up on the 2022 drilling ore grade intercepts at Amphitheatre, building an understanding of mineralisation controls, and assessing the potential deposit scale.”
Concurrently, ground-based radiometric surveys are underway at multiple uranium prospects on the Murphy Project in the Northern Territory, Australia.
The Amphitheatre uranium prospect is located 16km northeast of the Junnagunna uranium deposit and displays as a ‘strong’ 400m-by-300m airborne radiometric anomaly.
Laramide Resources is focused on the exploration and development of its uranium assets in Australia and the US.
The company’s portfolio comprises 5 advanced uranium projects, including the Westmoreland and Murphy uranium projects in Western Australia and the Crownpoint-Churchrock, La Jara Mesa, and La Sal uranium projects in the US.
Write to Aaliyah Rogan at Mining.com.au
Images: Laramide Resources Ltd