Location: Cibola County, New Mexico in the Ambrosia Lake Mining District of the Grants Mineral Belt
Laramide ownership: 100% owned
Proposed Mine type: Underground
Estimated resources: 7.2 million pounds of uranium contained in 1.4 million tonnes at an average grade of 0.23% U3O8, and an additional 3.1 million pounds of uranium contained in 0.7 million tonnes at an average grade of 0.20% U3O8 classified as Inferred Mineral Resources
Laramide’s conventional hard-rock asset La Jara Mesa in New Mexico, United States is permitting for low-cost uranium production. The sandstone-hosted roll front style deposit is located in Grants Mineral Belt, New Mexico. The project is at the development stage and has potential for underground operation.
A previous operator completed extensive work, including metallurgical test work, mine planning and mine permit approval. The current NI 43-101/JORC compliant resource calculation on La Jara Mesa was completed in 2006, and was subsequently amended in July 2007 by Douglas Peters. The Indicated Mineral Resources are estimated at totalling 7.2 million pounds of uranium contained in 1.4 million tonnes at an average grade of 0.23% U3O8, and an additional 3.1 million pounds of uranium contained in 0.7 million tonnes at an average grade of 0.20% U3O8 classified as Inferred Mineral Resources
Laramide has received a draft Environmental Impact Statement from U.S. Forest Services. Accordingly, progress will continue with the National Environmental Policy Act (NEPA) review process of La Jara Mesa, which will ultimately lead to the completion of the final EIS. Both this and the Records of Decision (ROD) from the USFS and NEPA are expected in the future. Upon completion of any conditions in the ROD, the Company will be eligible to receive permits to allow underground development activities and mine production. Laramide plans to continue at a pace in keeping with the uranium market to continue with the legal work required for permitting.
