• E-mail
• Print
• Comment
• Font Size
• Digg
• del.icio.us
• Discuss article

Laramide Adds Third Rig at Westmoreland As Results Continue to Demonstrate Continuity of Mineralization

Posted on: Monday, 26 May 2008, 12:00 CDT

Laramide Resources Ltd. (TSX: LAM) is pleased to release results from the next 12 diamond holes from its 100 % owned Westmoreland project located in North West Queensland, Australia. These results included drill hole WDD08-24 which intersected 27 metres @ 0.14 % U3O8 and drill hole WDD08-27 which intersected 13 metres @ 0.17% U3O8 from 8m plus 18 metres @ 0.32% U3O8 from 30m.

All 12 drill holes were drilled with either NQ of HQ core into the Garee Lens, which forms part of the Redtree Deposit at the Westmoreland project. Mineralization within the Garee lens is flat lying and hence the true width of mineralization is generally between 80 % and 100 % of the intersection within the drill holes.

Results of laboratory analysis of core samples up to and including WDD08-28 have been received. Results are tabulated below.

 ----------------------------------------------------------------------- ----- Drill             AMG     AMG  Azim                        Int-  U3O8  True  Hole  Section  East-  North-  -uth   Dip   RL  From   To erval    (%)Width                    (1)     (1)(deg- (deg-   (m)   (m)  (m)   (m)         (m)                                rees) rees) ---------------------------------------------------------------------------- WDD08-17 7980N 192481 8060725   129   -45  152    37   41     7   0.06    4 ---------------------------------------------------------------------------- WDD08-18 7980N 192481 8060726   129   -70  152    30   44    14   0.06   13 ---------------------------------------------------------------------------- WDD08-19 7980N 192480 8060729   360   -90  152    49   55     6   0.13    6 ---------------------------------------------------------------------------- WDD08-20 7980N 192478 8060728   309   -70  152    40   80    40   0.06   36 ---------------------------------------------------------------------------- WDD08-21 7980N 192477 8060729   309   -45  152    22   27     5   0.05  3.5 ----------------------------------------------------------------------------      AND                                          88   92     4   0.16    3 ---------------------------------------------------------------------------- WDD08-22 8040N 192522 8060763   309   -45  149    10   25    15   0.04   11 ----------------------------------------------------------------------------      AND                                          50   61    11   0.09    8 ----------------------------------------------------------------------------      AND                                          98  105     7   0.08    4 ---------------------------------------------------------------------------- WDD08-23 8040N 192522 8060762   309   -60  149     5   21    16   0.09   13 ----------------------------------------------------------------------------      AND                                          62   75    13   0.05   10 ---------------------------------------------------------------------------- WDD08-24 8040N 192525 8060760   129   -65  149     7   34    27   0.14   24 ---------------------------------------------------------------------------- WDD08-25 8040N 192525 8060760   129   -45  149     9   40    31   0.09   22 ---------------------------------------------------------------------------- WDD08-26 8040N 192525 8060761   360   -90  149     4   18    14   0.12   14 ----------------------------------------------------------------------------      AND                                          26   35     9   0.12    9 ---------------------------------------------------------------------------- WDD08-27 8010N 192498 8060747   129   -70  151     8   21    13   0.17   12 ----------------------------------------------------------------------------      AND                                          30   48    18   0.32   16 ---------------------------------------------------------------------------- WDD08-28 8010N 192498 8060747   129   -45  151     7   29    22   0.18   15 ----------------------------------------------------------------------------      AND                                          37   45     8   0.17    6 ---------------------------------------------------------------------------- (1) Datum is AGD66 

Peter Mullens VP Exploration stated "The results are generally within ranges of expectation and continue to confirm our belief in the technical merits of the project. Mineralization in the northern part of the Garee Lens is generally lower in grade than the southern half, however current drilling has identified some higher grade material which was has previously not known. Higher grade mineralization in drill holes WDD08-27 and WDD08-28, confirms the presence for high grade pods within the broader moderate grade mineralized zone".

Drilling is continuing with 3 drill rigs. A Longyear LF 70 Drill Rig and a man portable diamond drilling rig are operating on single shifts with helicopter assistance at Redtree. A second LF 70 drill rig operating on two shifts is drilling at the Junnagunna prospect. Junnagunna is a flat lying zone of mineralization, which is between 5 and 10 metres thick, is located close to surface and is located approximately 5 km to the north of the Garee Lens along the Westmoreland dyke structure. See attached figures for details. It is planned to complete around 3,000 metres of drilling at Junnagunna.

As of May 25, 2008 Laramide had completed a total of 63 diamond drill holes for a total of 5,552 metres at Redtree and 8 drill holes for 858 metres at Junnagunna. Most of the drilling has been completed with NQ sized core. Several holes were completed with HQ size core so that in addition to assaying, half of the core will also be used for metallurgical test work.

The current drill program is expected to be completed by July 2008. While this program is being executed, Laramide will also be conducting initial metallurgical test work and mine engineering studies. Currently core is being saved from drill holes to be sent for metallurgical test work.

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 member of the Australian Institute of Mining and Metallurgy. Mr. Mullens has reviewed and approved the technical content of this release.

Laramide would also like to invite all shareholders to attend its Annual Meeting of Shareholders this afternoon at 4:00 p.m. Eastern Time at the National Club, 303 Bay Street Toronto, Ontario.

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.

To view the maps associated with this release, please visit the following link:

http://media3.marketwire.com/docs/laramide0526.pdf

 Contacts: Laramide Resources Ltd. Flora Wood Investor Relations Toronto, Canada (416) 599-7363  Laramide Resources Ltd. Peter Mullens VP Exploration Brisbane, Australia +61 (7) 3831 3407 Website: www.Laramide.com

SOURCE: Laramide Resources Ltd.

Source: MARKET WIRE

More News in this Category