Laramide Resources Ltd. estimated a maiden resource for its Crownpoint uranium project in New Mexico, according to a Dec. 20 release.

The project hosts an inferred resource of 2.5 million tons at 0.102% U3O8 equivalent containing 5.1 million pounds of uranium, at a 0.5 ft-% U3O8 grade thickness cutoff.

Laramide President and CEO Marc Henderson said the company will now look to develop a preliminary economic assessment of the combined Church Rock and Crownpoint deposits.

An initial estimate in October 2017 for the Church Rock uranium property in New Mexico outlined inferred resources of 33.9 million tons at 0.075% U3O8 equivalent containing 50.8 million pounds of uranium.