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Laramide resumes EIS process for US uranium project

22nd January 2024

By: Creamer Media Reporter

     

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Exploration company Laramide Resources is reinitiating the review process of the draft environmental impact statement (EIS) for its La Jara Mesa uranium mine project in New Mexico, in the US.

The TSX- and ASX-listed company has signed an agreement with the US Forest Service (USFS), Cibola National Forest and National Grassland to fund the services required to restart the USFS National Environmental Policy Act (Nepa) analysis.

The draft EIS was originally published in May 2012 on the federal register and was available for public review as the final step towards the EIS. However, owing to progressively unfavourable uranium market conditions at the time, Laramide elected to pause the permitting process.

Laramide is proposing to build and operate an underground mine on unpatented mining claims of the USFS Cibola National Forest and National Grassland in the Mount Taylor Ranger district.

The Cibola National Forest will prepare an EIS in accordance with Nepa to assess the development of a uranium project.

Laramide’s National Instrument 43-101-compliant mineral resource estimate for La Jara reports 7.26-million pounds of uranium (U3O8) in the measured and indicated classifications, contained in 1.56-million tons at an average grade of 0.23% U3O8. In addition, there are 3.17-million pounds of U3O8 in the inferred mineral resource classification, contained in 793 161 t at an average grade of 0.20% U3O8 on the property.

Uranium prices have hit their highest in more than 16 years, after Kazakhstan’s Kazatomprom earlier this month cut its 2024 production forecast.

Edited by Creamer Media Reporter

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