TORONTO, Nov. 22, 2017 /CNW/ - Laramide Resources Ltd. ("Laramide" or the "Company") is pleased to announce it has filed an independent Mineral Resource Estimate technical report (the "Technical Report") on Sedar (www.sedar.com) for the Company's 100% owned Church Rock Uranium Project located in Grants Mineral Belt, New Mexico, United States. The Technical Report supports the disclosure made by the Company in its October 10, 2017 news release announcing the results of the maiden Mineral Resource Estimate. The Technical Report was prepared in CIM Definition Standards (2014) pursuant to National Instrument 43-101 "Standards of Disclosure for Mineral Projects" ("NI 43-101").
The Technical Report, with an effective date of November 14, 2017, is titled "Technical Report on the Church Rock Uranium Project, McKinley County, State of New Mexico, U.S.A.", and was prepared by Mr. Mark B. Mathisen, C.P.G., of Roscoe Postle Associates Inc. of Denver, Colorado, USA, who is a "qualified person" for the purposes of NI 43-101.
The Technical Report states an Inferred Resource Estimate for the Church Rock Project of 33.9 million tons at an average grade of 0.075% eU3O8 for a contained resource of 50.8 million pounds using a 0.5 ft-% Grade Thickness (GT) cutoff.
About Laramide Resources
Laramide Resources Ltd., headquartered in Toronto and listed on theTSX: LAM and ASX: LAM, is engaged in the exploration and development of high-quality uranium assets. Laramide's portfolio of advanced uranium projects have been chosen for their production potential. Major U.S. assets include the Church Rock and Crownpoint In-Situ Recovery (ISR) projects and La Jara Mesa in Grants, New Mexico, as well as La Sal in the Lisbon Valley district of Utah. The recently acquired Church Rock and Crownpoint properties, with near-term development potential and significant mineral resources, form a leading ISR division operating in a tier one jurisdiction with enhanced overall project economics. The Company's Australian advanced stage Westmoreland is one of the largest projects currently held by a junior mining company.
The technical information in this news release has been prepared in accordance with the Canadian regulatory requirements set out in NI 43-101. The information has been reviewed and approved by Bryn Jones, MMinEng, FAusIMM, a Qualified Person under the definition established by National Instrument 43 101 and JORC. Mr. Jones is the Chief Operating Officer of the Company and a Fellow of the Australasian Institute of Mining and Metallurgy.
Laramide confirms that it is not aware of any new information or data that materially affects the information included in the market announcement dated 10 October 2017 and that all material assumptions and technical parameters underpinning the estimates in that market announcement continue to apply and have not materially changed.
To learn more about Laramide, please visit the Company's website at www.laramide.com.
Forward-looking Statements and Cautionary Language
This News Release contains forward looking statements which are subject to a variety of risks and uncertainties which could cause actual events or results to differ materially from those reflected in the forward looking statements. The Company does not intend to update this information and disclaims any legal liability to the contrary.
SOURCE Laramide Resources Ltd.
For further information: Marc Henderson, President and Chief Executive Officer, Toronto, Canada, +1 (416) 599 7363; Bryn Jones, Chief Operating Officer, Brisbane, Australia, P: (07) 3831 3407; Greg Ferron, Vice-President,Toronto, Canada, +1 (416) 599 7363