Laramide Resources Ltd T.LAM

the Northern Miner Feb 01, 2017.

[ATLEVAN]

LARAMIDE RESOURCES 

Toronto-based, Marc Henderson-led Laramide Resources (TSX: LAM; US-OTC: LMRXF; ASX: LAM) has early-stage uranium assets in Australia and the southwest U.S., with its flagship in recent years being the wholly owned Westmoreland project in northwest Queensland near the Mt. Isa mining district. 

Westmoreland was once owned by Rio Tinto, and has a sandstone-hosted resource of 52 million lb. uranium oxide (U3O8) in 18.7 million indicated tonnes grading 0.089% U3O8 and 9 million inferred tonnes at 0.083% U3O8. 

An updated preliminary economic assessment on the project foresees relatively straightforward open-pit mining with mild acid tank leaching for recovery. Some 80% of the resource is within 50 metres from surface. 

In the U.S., Laramide has recently acquired the Churchrock and Crownpoint uranium assets in New Mexico from Uranium Resources, which Laramide says “creates a leading in-situ recovery division in a tier-one jurisdiction with enhanced project economics and low operating costs.” Laramide says they are “production ready” and it has most permits in hand for a low initial capital-cost, staged ramp-up in production. 

In relation to the Churchrock and Crownpoint acquisitions, Laramide closed an equity financing that raised $4.5 million. 

Laramide also has two hard-rock uranium properties in the U.S.: La Sal in Utah, which is production-ready; and La Jara Mesa in New Mexico, where permitting is almost complete. 


https://www.northernminer.com/n.....003782915/