TORONTO, Oct. 18,
2022 /CNW/ - Laramide Resources Ltd. ("Laramide" or
the "Company") is pleased to announce that the second phase of the
2022 drill program at its Westmoreland Uranium Project in
Queensland, Australia
("Westmoreland") is now underway. This phase of the program (as
initially outlined in Laramide's news release of May 25, 2022), will focus on a potential
satellite deposit known as Longpocket (including the Sue / Outcamp
prospects) which saw limited drilling in 2010 but was never
included in the overall resource at Westmoreland.
The Outcamp and Sue Uranium prospects are located 8km to the
East of the Junnagunna Uranium deposit and 12km Northeast of
Redtree (see map at Fig. 1) and the current drilling will target
Outcamp, with a goal of extending the envelope of known uranium
mineralisation to the northeast, building on a 2010 drilling
program, which confirmed mineralisation as shallow and flat-lying
in nature.
The current drilling program will consist of up to a dozen or
more diamond drill holes on a truck mounted rig and is expected to
conclude by late October before the onset of the traditional wet
season.
The Company can also report that the drilling program to test
the prospective Amphitheatre prospect was successfully completed in
early July, which was somewhat slower than the originally
anticipated timeline due to equipment and logistical constraints.
Core cutting and sampling preparation were similarly impacted
but the samples were shipped in late August to ALS Global Lab
in Mount Isa and are expected to be processed in the coming
weeks.
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About Laramide Resources Ltd.:
Laramide is engaged in the exploration and development of
high-quality uranium assets. Its wholly owned uranium assets are in
Australia and the United States. Each of Laramide's
portfolio of five advanced uranium projects have been chosen for
their production potential. Laramide's Westmoreland project, in Queensland, Australia, is one of the largest
projects currently held by a junior mining company. Its U.S. assets
include Churchrock/Crownpoint, a
large ISR project, and the La Jara Mesa in the historic
Grants, New Mexico mining
district.
This press release contains forward-looking statements. The
actual results could differ materially from a conclusion, forecast
or projection in the forward-looking information. Certain
material factors or assumptions were applied in drawing a
conclusion or making a forecast or projection as reflected in the
forward-looking information.
SOURCE Laramide Resources Ltd.