High grade gold also drilled at Huarabagoo
~ Drilling Results Include~
WDD12-170
|
34 metres at 1,467 ppm U3O8
|
WDD12-167
|
2 metres at 6.1 g/t Au
|
|
and 4 metres at 30.9 g/t Au
|
Trading on TSX (Symbol: LAM)
TORONTO, Jan. 9, 2013 /CNW/ - Laramide Resources Ltd. is pleased to
release additional drilling assay results at the 100% owned
Westmoreland Uranium Project located in Northwest Queensland,
Australia.
The Company is reporting results from 13 diamond drill holes for 1,776.9
metres from the 2012 Program: 10 drill holes were drilled in the
northern section of the Huarabagoo deposit area, and 3 were drilled on
a single section along the structural corridor that connects the
Huarabagoo and Junnagunna deposits. Drilling has been completed for
this stage with a total of 30 diamond drill holes for 4,118 metres.
Drilling Highlights include:
Huarabagoo section 10,490
-
WDD12-168
-
36 metres at 858 ppm U3O8 (confirms previous drilling)
-
WDD12-167
-
7 metres at 590 ppm U3O8, plus 9 metres at 842 U3O8
-
In addition, 2 metres at 6.1 g/t Au, plus 4 metres at 30.9 g/t Au
-
Targeted high grade gold section identified in previous drilling
Huarabagoo section 10,940
-
WDD12-162
-
39 metres at 983 ppm U3O8(known mineralization)
-
WDD12-169
-
6 metres at 377 ppm U3O8(new mineralization east of dyke)
Huarabagoo section 11,050
-
WDD12-170
-
34 metres at 1,467 ppm U3O8(new mineralization east of dyke)
-
Including 10 metres at 3,965 ppm U3O8(new mineralization east of dyke)
"The results continue to confirm the technical merits of Westmoreland,"
said Peter Mullens, Vice President, Exploration. "The new
mineralization east of the dyke initially reported in the previous
press release (drill holes WDD12-159 and 160) continues to show promise
with a substantial intercept in drill hole WDD12-170 (34 metres at 1,467 ppm U3O8 including 10 metres at 3,965 ppm U3O8. The initial results in the Huarabagoo deposit area show excellent
potential to increase the overall size of the resource, in addition to
further confirming the continuity and grade of mineralization in this
part of the project," Mr. Mullens stated.
"Of particular note is drill hole WDD12-167, which intersected a number of gold bearing intervals including 2 metres at 6.1 g/t Au from 33 metres and 4 metres at 30.9 g/t Au from
55 metres," said Mr. Mullens.
"It has always been known that the Huarabagoo mineralization carries
good gold grades but Laramide has not understood the extent of this
mineralization and whether it will be commercially viable. Much of the
historic drilling was not assayed for gold. Future work will focus on
trying to establish a gold resource here in addition to uranium."
The mineralization in holes WDD12-161, 162, 163 and 168 were drilled
within the boundaries of the known resource. The results continue to
support the merits of the project and the overall grade of the deposit.
Assay results are summarized in Table 1 (All 12 holes were drilled with
HQ core).
Hole ID
|
Local East
|
Local North
|
Azimuth (Degrees)
|
Dip (Degrees)
|
Hole Depth (m)
|
RL (m)
|
From (m)
|
To (m)
|
Interval (m)
|
U3O8 ppm
|
Huarabagoo Deposit
|
WDD12-161
|
10596
|
11039
|
90
|
-50
|
201.00
|
80.0
|
6
|
13
|
7 mts
|
404
|
|
44
|
46
|
2 mts
|
290
|
|
52
|
67
|
15 mts
|
2778
|
Includes
|
55
|
61
|
6 mts
|
6500
|
|
76
|
95
|
19 mts
|
247
|
Includes
|
77
|
84
|
7 mts
|
398
|
|
100
|
102
|
2 mts
|
238
|
WDD12-162
|
10638
|
10943
|
90
|
-50
|
132.00
|
80.0
|
36
|
75
|
39 mts
|
983
|
Includes
|
49
|
67
|
18 mts
|
1614
|
WDD12-163
|
10638
|
10943
|
90
|
-65
|
123.30
|
80.0
|
42
|
50
|
8 mts
|
3503
|
|
62
|
79
|
17 mts
|
1289
|
Includes
|
63
|
67
|
4 mts
|
3160
|
WDD12-164
|
10705
|
10738
|
90
|
-70
|
120.00
|
81.0
|
27
|
38
|
11 mts
|
164
|
|
54
|
56
|
2 mts
|
201
|
|
76
|
78
|
2 mts
|
175
|
|
89
|
92
|
3 mts
|
1076
|
WDD12-165
|
10705
|
10738
|
90
|
-85
|
111.30
|
81.0
|
4
|
6
|
2 mts
|
352
|
|
14
|
16
|
2 mts
|
526
|
|
21
|
39
|
18 mts
|
252
|
WDD12-166
|
10705
|
10738
|
270
|
-70
|
111.34
|
81.0
|
4
|
6
|
2 mts
|
393
|
|
56
|
69
|
13 mts
|
838
|
Includes
|
65
|
69
|
4 mts
|
2341
|
|
74
|
76
|
2 mts
|
328
|
WDD12-167
|
10706
|
10492
|
90
|
-55
|
122.10
|
84.0
|
0
|
7
|
7 mts
|
852
|
Includes
|
0
|
3
|
3 mts
|
1663
|
|
11
|
14
|
3 mts
|
833
|
|
18
|
23
|
5 mts
|
272
|
|
28
|
35
|
7 mts
|
590
|
|
55
|
59
|
4 mts
|
369
|
|
64
|
67
|
3 mts
|
777
|
|
86
|
95
|
9 mts
|
842
|
WDD12-168
|
10706
|
10492
|
90
|
-75
|
128.90
|
84.0
|
0
|
7
|
7 mts
|
1454
|
|
17
|
23
|
6 mts
|
894
|
|
27
|
63
|
36 mts
|
858
|
Includes
|
33
|
38
|
5 mts
|
1752
|
|
119
|
121
|
2 mts
|
208
|
WDD12-169
|
10690
|
10950
|
90
|
-45
|
121.75
|
81.0
|
32
|
38
|
6 mts
|
377
|
Huarabagoo North
|
WDD12-170
|
10690
|
11050
|
90
|
-70
|
150.00
|
80.0
|
33
|
36
|
3 mts
|
442
|
|
57
|
91
|
34 mts
|
1467
|
Includes
|
60
|
70
|
10 mts
|
3965
|
Structural Corridor
|
WDD12-171
|
10525
|
12200
|
270
|
-65
|
155.10
|
77.5
|
48
|
51
|
3 mts
|
163
|
|
125
|
128
|
3 mts
|
383
|
WDD12-172
|
10525
|
12200
|
90
|
-70
|
150.00
|
77.5
|
100
|
110
|
10 mts
|
136
|
WDD12-173
|
10525
|
12200
|
90
|
-85
|
162.10
|
77.5
|
30
|
35
|
5 mts
|
205
|
Gold Results
Hole ID
|
Local East
|
Local North
|
Azimuth (Degrees)
|
Dip (Degrees)
|
Hole Depth
(m)
|
RL (m)
|
From (m)
|
To (m)
|
Interval (m)
|
Au g/t
|
Huarabagoo Deposit
|
WDD12-163
|
10638
|
10943
|
90
|
-65
|
123.30
|
80.0
|
62
|
63
|
1 mts
|
0.6
|
WDD12-165
|
10705
|
10738
|
90
|
-85
|
111.30
|
81.0
|
14
|
16
|
2 mts
|
31.5
|
WDD12-166
|
10705
|
10738
|
270
|
-70
|
111.34
|
81.0
|
54
|
56
|
2 mts
|
1.6
|
WDD12-167
|
10706
|
10492
|
90
|
-55
|
122.10
|
84.0
|
33
|
35
|
2 mts
|
6.1
|
|
55
|
59
|
4 mts
|
30.9
|
|
64
|
66
|
2 mts
|
1.6
|
WDD12-168
|
10706
|
10492
|
90
|
-75
|
128.90
|
84.0
|
13
|
14
|
1 mts
|
2.7
|
|
28
|
31
|
3 mts
|
0.8
|
|
55
|
57
|
2 mts
|
1.1
|
|
61
|
62
|
1 mts
|
1.7
|
|
72
|
73
|
1 mts
|
0.6
|
Uranium intersections = 100 ppm U3O8 cut off and minimum intersection of 1 metre
Gold intersections = 0.5 g/t Au cut off greater than 1 metre
Location of these results and the cross sections can be viewed here: http://files.newswire.ca/773/maps.pdf
In addition, a map indicating location of drill holes and five
corresponding cross sections are also available at the company's
website, www.laramide.com, under Westmoreland.
This initial program of 4,118 metres for 30 drill holes of diamond core
drilling, within a larger program of 30,000 metres, has been completed.
Laramide has implemented a quality control program at Westmoreland to
ensure best practices.
Under the guidelines of the National Instrument 43-101, the Qualified
Person for the Westmoreland Uranium Project is Mr. Peter Mullens who is
a Fellow of the Australian Institute of Mining and Metallurgy. All
drill cores for this program have been cut in half by diamond saw and
assayed with ALS Chemex Laboratory located in Mount Isa, Australia. Mr.
Mullens has reviewed and approved the technical content of this
release.
About Laramide:
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. Laramide's portfolio of advanced uranium projects
have been chosen for their production potential. Its flagship project,
Westmoreland, in Queensland, Australia, is one of the largest projects
currently held by a junior mining company. Its U.S. assets include La
Jara Mesa in Grants, New Mexico, and La Sal in the Lisbon Valley
district of Utah. Its portfolio also includes joint ventures in the
Northern Territory, strategic equity positions and a portfolio of
uranium royalties in the Grants Mineral District of New Mexico.
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.
PDF available at: http://stream1.newswire.ca/media/2013/01/09/20130109_C4746_DOC_EN_22368.pdf
SOURCE: Laramide Resources Ltd.
To learn more about Laramide, please visit the Company's website at www.laramide.com or contact: