Laramide Resources Ltd (TSX:LAM; ASX:LAM; OTCQX: LMRXF) has commenced a helicopter supported reconnaissance stream and soil sampling programme 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 Australia’s Northern Territory.
These tenements comprise the Murphy Project and the current programme is the first one undertaken by Laramide since completing the acquisition of Murphy from Rio Tinto Exploration 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 sq. km 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 programme 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 programme.
For further information please visit: https://laramide.com/
