01:52 PM EDT, 03/20/2024 (MT Newswires) -- Laramide Resources ( LMRXF ) on Wednesday reported 2024 work plans for Australia.

The plans include a drill campaign of up to 12,000 meters across multiple targets at the Westmoreland Uranium Project in northwestern Queensland and into the Murphy Uranium Project in the Northern Territory.

The company said it has secured two drill rigs and logistical plans are well advanced for a campaign that will build on the exploration effort in 2023.

The company expects to commence drilling in about six to eight weeks at the end of the current wet season.

Plans for 2024 include returning to the Murphy Project in the Northern Territory to investigate drilling completed in 20072. A 1,500-meter drill program will revisit the areas of interest identified in Laramide's 2006-2007 exploration program and includes Mageera, which appears to be a geological analogue of Westmoreland.

The company's shares slipped 2.7% on last look on Wednesday.

Price: 0.72, Change: -0.02, Percent Change: -2.70