# Laramide Announces an Increase in Mineral Resource Estimate for Westmoreland Uranium Project Canonical Atlas analysis: https://atlas-staging.minestarters.com/news/laramide-announces-an-increase-in-mineral-resource-estimate-for-westmoreland-ura--989918d8-5ceb-494f-b934-0fd1cce60a28 Original source: https://money.tmx.com/en/quote/LAM/news/5475616343060865/laramide-announces-an-increase-in-mineral-resource-estimate-for-westmoreland-ura Publisher: tmx Original announcement: 2025-02-28T12:30:00.000Z Analysis by Minestarters Atlas Atlas analysis published: Unknown date Atlas analysis updated: Unknown date - 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 Narrative sentiment: 0.60 · Bullish ## Minestarters Atlas 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 factor: Significant increase in Indicated and total contained uranium - Positive factor: High proportion of Indicated resources \(70%\) - Positive factor: Initial resource for Long Pocket - Positive factor: Compliant reporting \(NI 43-101 and JORC\) - Positive factor: Open pit mining method - Negative factor: Overall grade decline \(Indicated -13%, Inferred -15%\) - Negative factor: Grades are in the "weak" category per rubrics Facts used in scoring: 10 ## Classification and evidence **Resource Update** Polarity: neutral Definition: 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 Compliant** Polarity: positive Definition: 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 Compliant** Polarity: positive Definition: 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 Signed** Polarity: positive Definition: 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 Disclosed** Polarity: positive Definition: 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 Resource** Polarity: positive Definition: 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 Upgrade** Polarity: positive Definition: 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 Growth** Polarity: positive Definition: 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 Growth** Polarity: positive Definition: 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 Resource** Polarity: neutral Definition: 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 Resource** Polarity: negative Definition: 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 Decline** Polarity: negative Definition: 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) ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/laramide-announces-an-increase-in-mineral-resource-estimate-for-westmoreland-ura--989918d8-5ceb-494f-b934-0fd1cce60a28#fact-resource-facts-0) Westmoreland Uranium Project · uranium #### 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 factor: Indicated resource category - Positive factor: Significant contained metal - Negative factor: Grade is in the 'weak' category for uranium Evidence · table > 880 Context: 14,000,000 ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/laramide-announces-an-increase-in-mineral-resource-estimate-for-westmoreland-ura--989918d8-5ceb-494f-b934-0fd1cce60a28#fact-resource-facts-1) Westmoreland Uranium Project · uranium #### 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 factor: Indicated resource category - Negative factor: Grade is in the 'weak' category for uranium Evidence · table > 890 Context: 2,500,000 ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/laramide-announces-an-increase-in-mineral-resource-estimate-for-westmoreland-ura--989918d8-5ceb-494f-b934-0fd1cce60a28#fact-resource-facts-2) Westmoreland Uranium Project · uranium #### 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 factor: Indicated resource category - Positive factor: Significant contained metal - Negative factor: Grade is in the 'weak' category for uranium Evidence · table > 640 Context: 10,000,000 ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/laramide-announces-an-increase-in-mineral-resource-estimate-for-westmoreland-ura--989918d8-5ceb-494f-b934-0fd1cce60a28#fact-resource-facts-3) Westmoreland Uranium Project · uranium #### 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 factor: Initial resource for Long Pocket - Positive factor: Indicated resource category - Negative factor: Grade is in the 'weak' category for uranium Evidence · table > 420 Context: 1,300,000 ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/laramide-announces-an-increase-in-mineral-resource-estimate-for-westmoreland-ura--989918d8-5ceb-494f-b934-0fd1cce60a28#fact-resource-facts-4) Westmoreland Uranium Project · uranium #### 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 factor: Significant increase in Indicated contained metal \(34%\) - Positive factor: High confidence resource category - Positive factor: Large contained metal quantity \(moderate per rubrics\) - Negative factor: Overall grade decline \(-13%\) - Negative factor: Grade is in the 'weak' category for uranium Evidence · table > 770 Context: 27,800,000 ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/laramide-announces-an-increase-in-mineral-resource-estimate-for-westmoreland-ura--989918d8-5ceb-494f-b934-0fd1cce60a28#fact-resource-facts-5) Westmoreland Uranium Project · uranium #### 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 factor: Inferred resource category - Negative factor: Grade is in the 'weak' category for uranium Evidence · table > 800 Context: 3,000,000 ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/laramide-announces-an-increase-in-mineral-resource-estimate-for-westmoreland-ura--989918d8-5ceb-494f-b934-0fd1cce60a28#fact-resource-facts-6) Westmoreland Uranium Project · uranium #### 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 factor: Inferred resource category - Negative factor: Grade is in the 'weak' category for uranium Evidence · table > 870 Context: 3,100,000 ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/laramide-announces-an-increase-in-mineral-resource-estimate-for-westmoreland-ura--989918d8-5ceb-494f-b934-0fd1cce60a28#fact-resource-facts-7) Westmoreland Uranium Project · uranium #### 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 factor: Inferred resource category - Negative factor: Grade is in the 'weak' category for uranium Evidence · table > 620 Context: 3,000,000 ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/laramide-announces-an-increase-in-mineral-resource-estimate-for-westmoreland-ura--989918d8-5ceb-494f-b934-0fd1cce60a28#fact-resource-facts-8) Westmoreland Uranium Project · uranium #### 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 factor: Initial resource for Long Pocket - Negative factor: Inferred resource category - Negative factor: Grade is in the 'weak' category for uranium Evidence · table > 380 Context: 2,700,000 ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/laramide-announces-an-increase-in-mineral-resource-estimate-for-westmoreland-ura--989918d8-5ceb-494f-b934-0fd1cce60a28#fact-resource-facts-9) Westmoreland Uranium Project · uranium #### 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 factor: Increase in Inferred contained metal \(11%\) - Negative factor: Inferred resource category - Negative factor: Overall grade decline \(-15%\) - Negative factor: 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.