Laramide Resources Provides Update on Churchrock Uranium Project and Commences NI 43-101 Resource Estimate

Laramide Resources (TSX:LAM) has announced it has engaged SRK Consulting to prepare an NI 43-101 TEchnical REport on the resources for the company’s 100 percent owned Churchrock and Mancos properties in New Mexico.
As quoted in the press release:

The work is intended to address the resource estimation with respect to planned In Situ Recovery (ISR) of uranium. Further, the Resource Estimate will consolidate previously prepared NI 43-101 resource estimates on the Properties and more importantly, the significant work completed by previous operators on these properties which are considered “historical estimates” for purposes of NI 43-101 and, therefore, cannot be considered current mineral resources. There are three historical resource estimates from 2005 to 2011, summarized in a table at the end of the release.
The Company is working toward completion of the Resource Estimate in the second quarter of 2017.
Upon completion of the Resource Estimate, the Properties would be advanced to a Preliminary Economic Assessment (“PEA”). This will be the first economic study on the consolidated Properties, and that would include the elimination of certain royalties owned by Laramide (including the up to 25% NSR) on certain portions of the Properties. The PEA will also have the benefit of the previously completed Feasibility Study on Section 8 completed by a previous operator.
The Resource Estimate will not include the Company’s 100% owned Crownpoint project, located 30 miles from Churchrock. A resource estimate on the Crownpoint project is planned for the second half of 2017.

Click here to read the full press release.

Source: laramide.com