Major 50% Upgrade Boosts Lo Herma Uranium Resource to 8.57Mlbs, Scoping

Results for 6 holes of 17 holes from infill drilling at Huarabagoo and for 11 holes of 27 holes drilled in the zone between the Huarabagoo and Junnagunna deposits have been received. The results demonstrate that uranium mineralisation is continuous along strike and potentially joins the two deposits. Furthermore, there is a significant gold endowment within the mineralising system.

Commenting on the results, Laramide’s Vice-President of Exploration Rhys Davies said:

“The uranium and gold grades at Huarabagoo are consistently impressive. As we continue to gather more data relating to gold in the system, it is becoming clear that historical exploration work did not include assaying for gold, which has left significant gaps in the data, and presents a meaningful opportunity to enhance the project economics of these deposits.

“Furthermore, the shallow and broad zones of mineralisation observed in the Huarabagoo-Junnagunna link zone highlight the considerable potential for expanding the uranium mineral resources.”

Drilling across the broader Westmoreland Project was completed on the 4th of November and comprised 106 holes (includes 60 RC and 46 DD) for 11,263 meters, across multiple targets. Core processing continues, with announcements on assay results expected to continue into Q1 2025.

An updated Westmoreland Mineral Resource Estimate, which will include all results and include a Maiden Resource Estimate for Long Pocket, remains on track for early 2025.

Huarabagoo

The Huarabagoo deposit is located in the structural corridor between Redtree and Junnagunna and is included in the restated 2016 Westmoreland Mineral Resource Estimate ¹ . Seventeen diamond drill holes for a total of 1,827.16m , were completed in 2024. Laramide designed this program to test the extents of modelled mineralisation for both uranium and also for the gold associated with the intrusive dolerite dyke.

Significant results from the 2024 drilling confirm that both uranium and gold mineralisation are within and peripheral to the dyke margins (Figure 1) and along fault extensions, with multiple zones intersecting a similarly variable hematite-silicate-sericite altered sandstone.

Full Drill Collar details can be found here by clicking this link.

Huarabagoo-Junnagunna Link Zone

Drilling in the Huarabagoo-Junnagunna structural corridor is designed to test the mineralisation continuity between the two deposits with the intent to further increase the overall size of the resource. The program drill tested a system analogous to the Redtree Dyke system, and comprised of 21 RC holes for 3,096m , and 8 diamond drillholes for 1,124.10m , totaling 29 holes for 4,220.10m . The program was designed with three phases starting with an initial RC component (HJ24RC001 to HJ24RC013) to target the spatial extents for the Dolerite Dyke. The subsequent phases consisted of step out diamond drilling (HJ24DD014-HJ24DD021) to obtain structural measurements and establish structural…