08:22 AM EST, 01/16/2025 (MT Newswires) -- Laramide Resources ( LMRXF ) on Thursday said exploration drilling at its Westmoreland uranium project in Australia showed significant mineralization.

The company said best results from assays on seven holes drilled into the Huarabagoo and the Link zones at the property include five meters testing at 0.21% triuranium octoxide and 0.58 grams per tonne of gold, and 12 meters testing at 0.17% triuranium octoxide. All seven showed uranium mineralization.

"The latest results from Huarabagoo and the Link Zone continue to show the high quality of the project and will contribute to an updated Westmoreland Mineral Resource Estimate (MRE). The updated MRE which will include a Maiden Resource Estimate for Long Pocket, remains on track for delivery later in Q1 2025," Rhys Davies, vice president of exploration, said in a statement.

Laramide shares closed down $0.02 to $0.60 Wednesday on the Toronto Stock Exchange.