Laramide Resources (ASX:LAM) said that its updated mineral resource estimate for the Westmoreland uranium project in northwest Queensland represented a 34% increase in indicated resources and an 11% growth in inferred resources from the 2009 estimate, according to a Monday Australian bourse filing.
The updated estimate showed a total indicated resource of 48.1 million pounds of uranium oxide at an average grade of 770 parts per million (ppm) and a total inferred resource of around 17.7 million pounds of uranium oxide at an average grade of 680 ppm.
The company said 70% of the resource is now classified as indicated and 30% as inferred.
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