08:18 AM EDT, 09/19/2024 (MT Newswires) -- Laramide Resources ( LMRXF ) , a uranium mine development and exploration company with assets in the United States and Australia, and that saw its shares rise 3.4% from near 52 week lows yesterday, on Thursday announced more assay results from the 2024 drilling activities at the Westmoreland Uranium Project in Queensland, Australia.

According to a statement, assays have been received from the first six RC drillholes from Long Pocket and the remaining three diamond drillholes at the Amphitheatre prospect. It said Long Pocket drilling is demonstrating that uranium mineralisation is "laterally continuous with drillhole collar spacing now generally less than 50 metres which lends to a high level of confidence of the mineralisation."

Commenting on the results, Laramide's Vice-President of Exploration Rhys Davies said in a statement: "The first batch of results from infill drilling at Long Pocket demonstrate the quality of this satellite deposit with good uranium grade at very shallow depths and supports Laramide's focused attention on enhancing Westmoreland's resources towards improving the economics of a future mine plan.

"Building on previously reported results, Amphitheatre continues to impress with multiple zones of sandstone hosted mineralisation. The prospect remains open to the north and to the south which warrants follow-up drilling during this field season.

"We look forward to updating investors as more assay results are received over the coming weeks and months."