Laramide Resources (ASX:LAM) is planning to update the Westmoreland Uranium Project’s mineral resource estimate in 2025, which will include all results and a maiden MRE for the Long Pocket deposit.
Westmoreland is an advanced exploration and development asset, with exploration and development work undertaken by previous owners including mining giant Rio Tinto (ASX:RIO).
The Huarabagoo deposit is located in the structural corridor between Redtree and Junnagunna, within the Westmoreland Project. Laramide sees potential to link the Huarabagoo and Junnagunna deposits within the Westmoreland project in Queensland, after receiving initial drilling results.
As part of the 2024 drilling program, four holes at Huarabagoo and 12 holes in the linking zone between both deposits have been returned to date.
Laramide, which has a market capitalisation of $211.63 million, says the latest batch of assays demonstrate uranium mineralisation is continuous along strike.
Vice President of Exploration Rhys Davies says the results from the link zone underscores the potential for substantial growth of the mineral resources.
“The shallow, broad mineralised zones identified here, some with impressively higher grades, further validate the characteristics that we are observing across the whole Westmoreland system,” Davies says.
“Infill drilling at Huarabagoo has improved our confidence in our geological models as well; the emerging gold results are also compelling.
“We are investigating how the gold may enhance the economics of the deposit as we prepare to advance the project to a Prefeasibility Study.”
The drilling program, comprising 106 holes for 11,263m, was completed on 4 November. Core processing is continuing and the remaining assay results will be released throughout Q4 2024 and Q1 2025.
Drilling was designed to test the mineralisation continuity between the two deposits with the aim to further increase the overall size of the resource.
The company says the data provided is valuable for deposit modelling in the link zone and will help guide future infill drilling.
Laramide Resources is an explorer and developer focused on uranium assets in Australia and the US.
Write to Aaliyah Rogan at Mining.com.au
Images: Laramide Resources
