Laramide expands Westmoreland uranium resource in Qld
Toronto-headquartered uranium developer Laramide has increased the mineral resource estimate (MRE) for its Westmoreland project in north-west Queensland, reporting a 34% increase in indicated resources and an 11% rise in inferred resources compared with its 2009 estimate.
The updated resource estimate now outlines a total indicated resource of 48.1-million pounds of uranium oxide (U3O8) and a total inferred resource of 17.7-million pounds across the Redtree, Huarabagoo, Junnagunna, and Long Pocket deposits.
“This updated MRE reiterates our long-held view that Westmoreland is a genuinely world-class deposit. At 65-million-plus pounds, it ranks as one of the largest undeveloped uranium deposits in the world and has the potential to be a top ten global uranium mine,” said Laramide president and CEO Marc Henderson.
Henderson noted that the project’s attributes supported a long-life mining operation, which could contribute to regional development in north-west Queensland while supplying the growing nuclear power industry.
“Moreover, we have identified extensions to mineralisation and targets in the mineral system, so have a clear line of sight to adding yet more pounds,” he said. “Building on a few years of significant effort and work, this update is a credit to our Australian exploration team and all contractors involved.”
Laramide aims to transition Westmoreland to a development phase, pending the support of Queensland’s new Liberal government, while continuing high-impact exploration to further expand the resource base.
Westmoreland is 100% owned by Laramide through its subsidiary Tackle Resources. The project comprises three contiguous exploration permits for minerals – EPM 14558, EPM 14672, and EPM 28807 – and a pending mineral development licence (MDL 2026).
Located about 380 km northwest of Mt Isa, the project has been subject to uranium exploration since the 1950s and hosts several mineral occurrences.
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