TICKER SYMBOLS: TSX:LAM; ASX:LAM; OTCQX:LMRXF
TORONTO, Nov. 15, 2021 /CNW/ - Laramide Resources Ltd.
("Laramide" or the "Company") (TSX: LAM) (ASX: LAM)
(OTCQX: LMRXF) is pleased to announce it has commenced a helicopter
supported reconnaissance stream and soil sampling program designed
to test for uranium, gold and a suite of other precious and base
metals, hosted within favourable geological units on ELs 9319 and
9414 in the Northern Territory. These tenements comprise the Murphy
Project ("Murphy" or "the Project") and the current program is the
first one undertaken by Laramide since completing the acquisition
of Murphy from Rio Tinto Exploration ("RTX") on October 22, 2020. Laramide had previously
been in a joint venture earn-in agreement with RTX and, since its
involvement with the Project, has commissioned several different
types of airborne geophysical surveys including combined
magnetics-radiometrics, time-domain electromagnetics, and gravity
gradiometry surveys. A 43-101 technical report incorporating
all of these results was filed on May 22,
2020.
The strategically located Project consists of 683.5
km2 of granted exploration tenure, which lies contiguous
to and along strike from Laramide's Westmoreland Project in
northwest Queensland. The
Northern Territory of Australia is
a jurisdiction that is supportive of both uranium development and
mining and hosts several well-known deposits including the Ranger
Mine which produced in excess of 120,000 tonnes of
U3O8 over a 35-year period. The Murphy
Uranium Province itself produced high-grade uranium during the
1950s and stands out amongst the world's attractive underexplored
uranium provinces, having not seen any meaningful exploration since
the 1970s.
The current program will be comprised of approximately 80 stream
samples over EL9414 (only) and 15 to 20 soil traverses
(approximately 300 soil samples), covering radiometric anomalies on
both leases. The stream sediment samples comprise a 50 – 100g
sample of -80# material sieved down from a 1 – 2kg / -10# bulk. The
soil samples will be collected at 200
m along 1 to 2 km long traverses. The program is expected to
be completed in 3-4 weeks' time and results of the geochemistry and
general reconnaissance undertaken are intended to inform an initial
drilling program on Murphy which is planned for the next field
season in 2022.
The Murphy leases are located on Aboriginal Land Trust land
owned by the Waayni and Garawa people and, prior to commencement of
the current program, Laramide sought and received the approval of
the traditional owners through the Northern Land Council. The
traditional owners are also represented on the field team currently
carrying out the sampling program.
Qualified Person
The technical information in this news release has been prepared
in accordance with the Canadian regulatory requirements set out in
NI 43-101. The information has been reviewed and approved by
Rob Sowerby, a Qualified Person
under the definition established by National Instrument 43-101 and
JORC. Mr. Sowerby is an independent consultant and has sufficient
experience which is relevant to the style of mineralization and
type of deposit under consideration and to the activity he is
undertaking to qualify as a Competent Person as defined in the 2012
Edition of the 'Australasian Code for Reporting of Exploration
Results, Mineral Resources and Ore Reserves.
To learn more about Laramide, please visit the Company's
website at www.laramide.com.
About Laramide Resources:
Laramide is a Canadian-based company with diversified uranium
assets strategically positioned in the
United States and Australia
that have been chosen for their low-cost production potential.
Laramide's Churchrock and Crownpoint properties form a leading In-Situ
Recovery (ISR) division that benefits from significant mineral
resources and near-term development potential. Additional U.S.
assets include La Jara Mesa in Grants,
New Mexico, and La Sal in
the Lisbon Valley district of Utah. The Company's Australian advanced stage
Westmoreland is one of the largest
uranium projects currently held by a junior mining company.
Laramide is listed on the TSX: LAM and ASX: LAM and in the United States on the OTCQX: LMRXF.
Forward-looking Statements and Cautionary Language
This release includes certain statements that may be deemed
to be "forward-looking statements". All statements in this release,
other than statements of historical facts, that address events or
developments that management of the Company expect, are
forward-looking statements. Forward-looking statements are
frequently, but not always, identified by words such as "expects",
"anticipates", "believes", "plans", "projects", "intends",
"estimates", "envisages", "potential", "possible", "strategy",
"goals", "objectives", or variations thereof or stating that
certain actions, events or results "may", "could", "would", "might"
or "will" be taken, occur or be achieved, or the negative of any of
these terms and similar expressions. Actual results or developments
may differ materially from those in forward-looking statements.
Laramide disclaims any intention or obligation to update or revise
any forward-looking statements, whether as a result of new
information, future events or otherwise, save and except as may be
required by applicable securities laws.
Since forward-looking information address future events and
conditions, by their very nature they involve inherent risks and
uncertainties. Actual results could differ materially from those
currently anticipated due to a number of factors and risks. These
include, but are not limited to, exploration and production for
uranium; delays or changes in plans with respect to exploration or
development projects or capital expenditures; the uncertainty of
resource estimates; health, safety and environmental risks;
worldwide demand for uranium; uranium price and other commodity
price and exchange rate fluctuations; environmental risks;
competition; incorrect assessment of the value of acquisitions;
ability to access sufficient capital from internal and external
sources; and changes in legislation, including but not limited to
tax laws, royalties and environmental regulations.
Actual results, performance or achievement could differ
materially from those expressed in, or implied by, the
forward-looking information and, accordingly, no assurance can be
given that any of the events anticipated by the forward-looking
information will transpire or occur, or if any of them do so, what
benefits may be derived therefrom and accordingly, readers are
cautioned not to place undue reliance on the forward-looking
information.
SOURCE Laramide Resources Ltd.