Laramide Announces an Increase in Mineral Resource Estimate for Westmoreland Uranium Project
Original announcement by tmx on
- Company
- Laramide Resources Ltd.
- Ticker
- LAM
- Exchange
- TSX
- Region
- Queensland, Australia
- Primary commodity
- Uranium
- Secondary commodities
- None reported
- Document categories
- Resource update
- Extracted
- 2026-08-25 19:05:06 UTC
Analysis by Minestarters Atlas
Minestarters Atlas analysis
Summary
Laramide Resources has announced a significant update to the Mineral Resource Estimate for its Westmoreland Uranium Project in Queensland, Australia, incorporating new drilling data. The updated MRE reports a 34% increase in Indicated Resources and an 11% increase in Inferred Resources, resulting in a total of 48.1 million pounds of U3O8 Indicated and 17.7 million pounds Inferred. The project now boasts 70% of its resources in the Indicated category, with the inclusion of an initial resource for the Long Pocket deposit, further solidifying its position as a globally significant uranium asset.
Reasoning: The updated MRE shows a substantial increase in contained uranium, particularly in the higher-confidence Indicated category, and includes a new deposit, reinforcing the project's world-class potential, despite a decline in average grade.
Positive factors
- Significant increase in Indicated and total contained uranium
- High proportion of Indicated resources (70%)
- Initial resource for Long Pocket
- Compliant reporting (NI 43-101 and JORC)
- Open pit mining method
Negative factors
- Overall grade decline (Indicated -13%, Inferred -15%)
- Grades are in the "weak" category per rubrics
Facts used in scoring: 10
Classification and evidence
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: The document announces an updated Mineral Resource Estimate for the Westmoreland Uranium Project.
Evidence · text
“Laramide Announces an Increase in Mineral Resource Estimate for Westmoreland Uranium Project”
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: The resource estimate is reported in accordance with National Instrument 43-101.
Evidence · text
“reported in accordance with National Instrument 43-101, Standards of Disclosure for Mineral Projects , ("NI 43-101")”
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: The estimate is also reported in accordance with The Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves ('the JORC Code' 2012 edition.)
Evidence · text
“reported in accordance with The Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves ('the JORC Code' 2012 edition.)”
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: The technical information has been reviewed by Mr. R. J. Siddle, an independent Qualified Person and Competent Person.
Evidence · text
“The technical information in this release relating to Mineral Resource Estimates has been reviewed by Mr. R. J. Siddle, MSc, MAIG Principal Resource Geologist for Addison Mining Services Ltd. Mr. Siddle is an independent Qualified Person within the meaning of the CIM Definition Standards for Mineral Resources (2014) and independent Competent Person within the meaning of the JORC (2012).”
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: The resource is reported above a cut-off grade of 200 ppm U3O8.
Evidence · text
“reported above a cut-off grade of 200 ppm U 3 O 8”
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: The MRE includes a significant portion of resources classified as Indicated, totaling 48.1 MLbs U3O8.
Evidence · text
“Total Indicated Resource of 48.1 MLbs. of U 3 O 8”
Category Upgradepositive
Resource confidence improved — Inferred upgraded to Indicated, or Indicated to Measured. De-risking signal.
Why it applies: The updated MRE shows a 34% increase in Indicated Resources and 70% of the total resource is now classified as Indicated.
Evidence · text
“The updated Mineral Resource Estimate represents a 34% increase in Indicated Resources”
Contained Metal Growthpositive
True scale improvement — contained metal ounces/tonnes increased vs prior, accounting for both tonnage and grade changes.
Why it applies: The total Indicated contained metal increased by 34% and total Inferred contained metal increased by 11% compared to the previous estimate.
Evidence · table
“34 %”
Context: Total Indicated
Tonnage Growthpositive
Significant tonnage increase (≥15%) vs prior estimate with grade maintained or improved.
Why it applies: The total Indicated tonnage increased by 49% and total Inferred tonnage increased by 31% compared to the previous estimate.
Evidence · table
“49 %”
Context: Total Indicated
Maiden Resourceneutral
First formal MRE for the project — establishes baseline but typically exploration-stage with high Inferred component.
Why it applies: The update includes an initial resource for the Long Pocket deposit, which was not included in the previous estimate.
Evidence · text
“Initial Resource for Long Pocket.”
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: The MRE includes a portion of resources classified as Inferred, totaling 17.7 MLbs U3O8.
Evidence · text
“Total Inferred Resource of approximately 17.7 MLbs. of U 3 O 8”
Grade Declinenegative
Average grade dropped >5% vs prior estimate — deposit economics worsening. May indicate high-grading in early drilling.
Why it applies: The average grade for total Indicated resources declined by 13% and total Inferred resources declined by 15% compared to the previous estimate.
Evidence · table
“-13 %”
Context: Total Indicated
Extracted facts
Stored fact records: 10. Some facts used in scoring do not have a stored record.
Resource Estimates (10)
indicatedWestmoreland Uranium Project · uraniumTonnes: 14000000Grade: 880Grade Unit: ppmContained Metal: 27000000Contained Unit: lbsView all detailsHide details
Identity
- Project
- Westmoreland Uranium Project
- Commodity
- uranium
- Region
- australia_qld
- Reported Region
- Queensland, Australia
- Ticker
- LAM
Resource Data
- Category
- indicated
- Tonnes
- 14000000
- Grade
- 880
- Grade Unit
- ppm
- Contained Metal
- 27000000
- Contained Unit
- lbs
- Cutoff Grade
- 200
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2025-02-28T00:00:00.000Z
Reasoning: This is a substantial indicated resource for the Redtree deposit, contributing significantly to the overall project, though the grade is relatively low.
Positive factors
- Indicated resource category
- Significant contained metal
Negative factors
- Grade is in the 'weak' category for uranium
Evidence · table
“880”
Context: 14,000,000
indicatedWestmoreland Uranium Project · uraniumTonnes: 2500000Grade: 890Grade Unit: ppmContained Metal: 4900000Contained Unit: lbsView all detailsHide details
Identity
- Project
- Westmoreland Uranium Project
- Commodity
- uranium
- Region
- australia_qld
- Reported Region
- Queensland, Australia
- Ticker
- LAM
Resource Data
- Category
- indicated
- Tonnes
- 2500000
- Grade
- 890
- Grade Unit
- ppm
- Contained Metal
- 4900000
- Contained Unit
- lbs
- Cutoff Grade
- 200
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2025-02-28T00:00:00.000Z
Reasoning: This indicated resource for Huarabagoo contributes to the overall project, but is smaller in scale and has a relatively low grade.
Positive factors
- Indicated resource category
Negative factors
- Grade is in the 'weak' category for uranium
Evidence · table
“890”
Context: 2,500,000
indicatedWestmoreland Uranium Project · uraniumTonnes: 10000000Grade: 640Grade Unit: ppmContained Metal: 15000000Contained Unit: lbsView all detailsHide details
Identity
- Project
- Westmoreland Uranium Project
- Commodity
- uranium
- Region
- australia_qld
- Reported Region
- Queensland, Australia
- Ticker
- LAM
Resource Data
- Category
- indicated
- Tonnes
- 10000000
- Grade
- 640
- Grade Unit
- ppm
- Contained Metal
- 15000000
- Contained Unit
- lbs
- Cutoff Grade
- 200
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2025-02-28T00:00:00.000Z
Reasoning: This indicated resource for Junnagunna adds substantial contained metal to the project, despite a relatively low grade.
Positive factors
- Indicated resource category
- Significant contained metal
Negative factors
- Grade is in the 'weak' category for uranium
Evidence · table
“640”
Context: 10,000,000
indicatedWestmoreland Uranium Project · uraniumTonnes: 1300000Grade: 420Grade Unit: ppmContained Metal: 1200000Contained Unit: lbsView all detailsHide details
Identity
- Project
- Westmoreland Uranium Project
- Commodity
- uranium
- Region
- australia_qld
- Reported Region
- Queensland, Australia
- Ticker
- LAM
Resource Data
- Category
- indicated
- Tonnes
- 1300000
- Grade
- 420
- Grade Unit
- ppm
- Contained Metal
- 1200000
- Contained Unit
- lbs
- Cutoff Grade
- 200
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2025-02-28T00:00:00.000Z
Reasoning: This is an initial indicated resource for the Long Pocket deposit, adding to the project's overall potential, though it is smaller and has a lower grade.
Positive factors
- Initial resource for Long Pocket
- Indicated resource category
Negative factors
- Grade is in the 'weak' category for uranium
Evidence · table
“420”
Context: 1,300,000
indicatedWestmoreland Uranium Project · uraniumTonnes: 27800000Grade: 770Grade Unit: ppmContained Metal: 48100000Contained Unit: lbsView all detailsHide details
Identity
- Project
- Westmoreland Uranium Project
- Commodity
- uranium
- Region
- australia_qld
- Reported Region
- Queensland, Australia
- Ticker
- LAM
Resource Data
- Category
- indicated
- Tonnes
- 27800000
- Grade
- 770
- Grade Unit
- ppm
- Contained Metal
- 48100000
- Contained Unit
- lbs
- Cutoff Grade
- 200
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2025-02-28T00:00:00.000Z
Reasoning: The total indicated resource shows a substantial increase in contained uranium, significantly de-risking the project, despite a lower average grade compared to previous estimates.
Positive factors
- Significant increase in Indicated contained metal (34%)
- High confidence resource category
- Large contained metal quantity (moderate per rubrics)
Negative factors
- Overall grade decline (-13%)
- Grade is in the 'weak' category for uranium
Evidence · table
“770”
Context: 27,800,000
inferredWestmoreland Uranium Project · uraniumTonnes: 3000000Grade: 800Grade Unit: ppmContained Metal: 5200000Contained Unit: lbsView all detailsHide details
Identity
- Project
- Westmoreland Uranium Project
- Commodity
- uranium
- Region
- australia_qld
- Reported Region
- Queensland, Australia
- Ticker
- LAM
Resource Data
- Category
- inferred
- Tonnes
- 3000000
- Grade
- 800
- Grade Unit
- ppm
- Contained Metal
- 5200000
- Contained Unit
- lbs
- Cutoff Grade
- 200
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2025-02-28T00:00:00.000Z
Reasoning: This inferred resource for Redtree adds to the project's potential but is of lower confidence and has a relatively low grade.
Negative factors
- Inferred resource category
- Grade is in the 'weak' category for uranium
Evidence · table
“800”
Context: 3,000,000
inferredWestmoreland Uranium Project · uraniumTonnes: 3100000Grade: 870Grade Unit: ppmContained Metal: 6000000Contained Unit: lbsView all detailsHide details
Identity
- Project
- Westmoreland Uranium Project
- Commodity
- uranium
- Region
- australia_qld
- Reported Region
- Queensland, Australia
- Ticker
- LAM
Resource Data
- Category
- inferred
- Tonnes
- 3100000
- Grade
- 870
- Grade Unit
- ppm
- Contained Metal
- 6000000
- Contained Unit
- lbs
- Cutoff Grade
- 200
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2025-02-28T00:00:00.000Z
Reasoning: This inferred resource for Huarabagoo contributes to the overall project but is of lower confidence and has a relatively low grade.
Negative factors
- Inferred resource category
- Grade is in the 'weak' category for uranium
Evidence · table
“870”
Context: 3,100,000
inferredWestmoreland Uranium Project · uraniumTonnes: 3000000Grade: 620Grade Unit: ppmContained Metal: 4200000Contained Unit: lbsView all detailsHide details
Identity
- Project
- Westmoreland Uranium Project
- Commodity
- uranium
- Region
- australia_qld
- Reported Region
- Queensland, Australia
- Ticker
- LAM
Resource Data
- Category
- inferred
- Tonnes
- 3000000
- Grade
- 620
- Grade Unit
- ppm
- Contained Metal
- 4200000
- Contained Unit
- lbs
- Cutoff Grade
- 200
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2025-02-28T00:00:00.000Z
Reasoning: This inferred resource for Junnagunna adds to the project's potential but is of lower confidence and has a relatively low grade.
Negative factors
- Inferred resource category
- Grade is in the 'weak' category for uranium
Evidence · table
“620”
Context: 3,000,000
inferredWestmoreland Uranium Project · uraniumTonnes: 2700000Grade: 380Grade Unit: ppmContained Metal: 2300000Contained Unit: lbsView all detailsHide details
Identity
- Project
- Westmoreland Uranium Project
- Commodity
- uranium
- Region
- australia_qld
- Reported Region
- Queensland, Australia
- Ticker
- LAM
Resource Data
- Category
- inferred
- Tonnes
- 2700000
- Grade
- 380
- Grade Unit
- ppm
- Contained Metal
- 2300000
- Contained Unit
- lbs
- Cutoff Grade
- 200
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2025-02-28T00:00:00.000Z
Reasoning: This is an initial inferred resource for the Long Pocket deposit, adding to the project's overall potential, though it is smaller and has a lower grade.
Positive factors
- Initial resource for Long Pocket
Negative factors
- Inferred resource category
- Grade is in the 'weak' category for uranium
Evidence · table
“380”
Context: 2,700,000
inferredWestmoreland Uranium Project · uraniumTonnes: 11800000Grade: 680Grade Unit: ppmContained Metal: 17700000Contained Unit: lbsView all detailsHide details
Identity
- Project
- Westmoreland Uranium Project
- Commodity
- uranium
- Region
- australia_qld
- Reported Region
- Queensland, Australia
- Ticker
- LAM
Resource Data
- Category
- inferred
- Tonnes
- 11800000
- Grade
- 680
- Grade Unit
- ppm
- Contained Metal
- 17700000
- Contained Unit
- lbs
- Cutoff Grade
- 200
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2025-02-28T00:00:00.000Z
Reasoning: The total inferred resource shows an increase in contained uranium, adding to the project's overall potential, but is of lower confidence and has a lower average grade.
Positive factors
- Increase in Inferred contained metal (11%)
Negative factors
- Inferred resource category
- Overall grade decline (-15%)
- Grade is in the 'weak' category for uranium
Evidence · table
“680”
Context: 11,800,000
How Atlas produces this analysis
Minestarters Atlas uses automated extraction to summarize mining announcements, identify reported measurements, and classify supporting evidence. Sentiment reflects the extracted narrative and classification rules; it is an interpretation, not a reported measurement. Evidence quotes and context are provided where available. Missing data, low-confidence results, and review flags indicate limitations. Check the original publisher announcement before relying on an interpretation.