Drilling at Laramide Resources’ Huarabagoo deposit has turned up zones of significant gold and vanadium mineralisation along with strong uranium grades.

The company has reported assay results from drilling late last year at the deposit, which sits within its Westmoreland project in North-West Queensland.

All 13 holes in the infill and extension drilling program intercepted multiple zones of mineralisation greater than 100ppm U₃O₈ (triuranium octoxide), with some zones displaying grades exceeding 1.0 per cent U₃O₈.

Laramide said the high-grade mineralisation intercepted at Huarabagoo improved confidence in the deposit and, once modelled, may lead to an improved resource classification.

Laramide president and chief executive officer Marc Henderson said evidence of significant gold grades had been explored at the site in the early 1980s.

While Laramide remained focused on the uranium opportunity, further studies would help identify whether possible beneficiation of the gold and vanadium present would enhance the economics of the project as it progressed towards development, he said.

Significant gold results from latest drilling include:

• HB23DD002: 1m at 0.90g/t gold from 15m, 2m at 3.10g/t gold from 56m, 1m at 0.31g/t gold from 74.5m
• HB23DD004: 8m at 0.84 g/t gold from 47m (including 4m at 1.17g/t gold from 51m) and 9.55m at 0.53g/t gold from 56.45 (including 2.38m at 1.13g/t gold from 63m)
• HB23DD005: 8m at 0.54 g/t gold from 58m including 1m at 2.06 g/t gold from 64m

Mr Henderson said high-grade results from drilling in November underscored the quality of the Westmoreland asset (see diagram below).

There was significant scope for growth, conceivably doubling the size of the Huarabagoo resource, he said.

That resource stands at 5.8Mlbs U₃O₈ at 0.109 per cent (Inferred) and 2.7Mlbs U₃O₈ at 0.083 per cent (Indicated). 

“Resource growth is one of key goals of the 2024 field season and the technical team is in the final planning stages of a multi-rig drilling program,” Mr Henderson said.

Below: Huarabagoo Drilling (2023) showing significant U₃O₈ intercepts.