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Murphy Uranium Project
Technical Reports
Independent Technical Report on the Murphy Project, Northern Territory, Australia, NI 43-101 Report – May 2020
| Location | The Project area is located adjacent to the Northern Territory/Queensland border in Australia. It is approximately 1250 km SE of Darwin and 400 km NNW of Mt Isa and centred at latitude 17° 40’ 00” S and longitude 137° 50’ 00” E. |
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| Ownership | 100% Laramide Resources Ltd. |
| Commodities | Uranium |
| Current Status | Exploration |
| Mineral Resources | While not defining economic mineralisation, Laramide’s exploration confirmed the presence of Westmoreland style mineralisation and alteration types in the area. Further geophysical work over these areas have identified a number of uranium and base metal targets warranting further exploration. |
Overview
Laramide Resources Ltd. holds a 100% interest in the Murphy Uranium Tenements in the Northern Territory of Australia (the “Project”).
The strategically located Project consists of 683.5 km2 of granted exploration tenure, which lies contiguous to and along strike from Laramide’s Westmoreland Project in northwest Queensland. The Project will enhance Laramide’s dominant landholding in a highly prospective and underexplored uranium province.
The Northern Territory of Australia is a jurisdiction that is supportive of both uranium development and mining and hosts several well-known deposits including the Ranger Mine which has produced in excess of 120,000 tonnes of U3O8 over a 35-year period. The Murphy acquisition is structured to incentivize a return to active exploration on the Project while providing former joint venture partner Rio Tinto Exploration Pty Limited with an opportunity to participate should a world class discovery be made.
The Project is situated geologically within the highly prospective Murphy Uranium Province. The Murphy Uranium Province produced high-grade uranium during the 1950s and stands out amongst the world’s attractive underexplored uranium provinces, having not seen any meaningful exploration since the 1970s.
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Geology and Mineralization
Based on the geology of the region and the results of exploration and targeting work undertaken by Laramide Resources, the Murphy Property is considered to exhibit geological and structural characteristics that may be prospective for Westmoreland Style and Unconformity-related uranium mineralisation. A number of specific, untested structural targets have been identified that Laramide considers favourable for Westmoreland style uranium mineralisation based on the results of its Mineral Systems Project. These target areas warrant further investigation and drill testing.
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