TIDMLND
RNS Number : 3920J
Landore Resources Limited
23 August 2021
This announcement contains inside information as defined in
Article 7 of the Market Abuse Regulation No 596/2014
LANDORE RESOURCES LIMITED
(AIM Ticker: LND.L)
DRILLING UPDATE
BAM GOLD PROJECT
JUNIOR LAKE PROPERTY
London, United Kingdom - 23 August 2021 - Landore Resources
Limited (AIM: LND) ("Landore Resources" or "the Company") is
pleased to provide an update on the progress of the drilling
programme for 2020-21 (the "Drilling
Programme") on the BAM Gold Deposit, Junior Lake Property, Ontario, Canada ("BAM Gold Deposit").
Highlights
-- Additional step out and infill drilling within the
exploration area for 800 metres to the east and along strike of the
BAM Gold Deposit has continued to intersect widespread ore grade
gold. The results of this drilling, together with the earlier
drilling in this area (Reported 17(th) May 2021), will now be
modelled aimed at identifying possible new shoots.
-- Due to the unprecedented severe fire hazard in Northern
Ontario, with over 150 fires burning in the Province, on July 24th
the Provincial Government issued an Implementation Order of the
Fire Prevention Act impacting industrial operations including
drilling. Accordingly, Landore suspended drilling on the 1(st)
August after completing drill-hole 0421-818. Landore will resume
drilling at Felix, its highly prospective exploration area to the
west and along strike of the BAM Gold Deposit, in October 2021.
BAM Gold Deposit:
10 drill holes (0421-798 to 0421-807) for 1,997.75 metres have
been drilled along the eastern exploration area from 3100E to 3700E
as step back and infill holes to further define this potential
extension of the BAM Gold Deposit. Assay results for these have
been received. They include:
Easting Northing Drill-hole From Interval* Au
No Metres Metres g/t
--------- ----------- ------- ---------- -----
3100E 100S 0421-806 53.10 2.02 2.52
--------- ----------- ------- ---------- -----
and 105.00 0.65 2.53
--------- ----------- ------- ---------- -----
3300E 200S 0421-805 79.95 25.55 0.41
--------- ----------- ------- ---------- -----
including 104.50 1.00 1.75
--------- ----------- ------- ---------- -----
and 161.00 1.03 1.95
--------- ----------- ------- ---------- -----
3300E 150S 0421-804 85.20 1.00 2.56
--------- ----------- ------- ---------- -----
3400E 205S 0421-803 15.91 1.00 1.01
--------- ----------- ------- ---------- -----
3400E 305S 0421-802 190.80 5.15 0.43
--------- ----------- ------- ---------- -----
3500E 375S 0421-801 217.80 1.02 1.43
--------- ----------- ------- ---------- -----
and 238.15 2.05 1.46
--------- ----------- ------- ---------- -----
and 257.08 3.71 0.58
--------- ----------- ------- ---------- -----
3600E 410S 0421-800 269.41 0.83 3.20
--------- ----------- ------- ---------- -----
3685E 300S 0421-798 75.83 7.09 1.11
--------- ----------- ------- ---------- -----
and 97.30 2.00 1.02
--------- ----------- ------- ---------- -----
* The drill holes were drilled north at 45 degrees into a
lithological package dipping approximately 60 to 50 degrees to the
south. The actual true thickness of mineralisation is estimated to
represent 75% to 85% of the intervals shown in the above table
Step out drilling from the BAM East Resource
6,042 metres have been completed to date through 30 drill holes
to test the potential strike extension of the existing BAM Gold
Deposit for 1,100 metres to the east from 3000E to 4100E, at 100
metre spacing. Drill holes have intersected typical BAM Gold
Deposit lithology and mineralisation.
2020-2021 Drilling Programme:
The Drilling Programme, consisting of a total of 23,000 metres
of HQ diamond core drilling, commenced on October 15(th) , 2020 and
was designed to further infill and extend the defined BAM Gold
Deposit resource of 1,015,000 ounces.
To date, a total of 21,733 metres of HQ diamond core drilling,
comprising 94 drill holes, (0420-725 to 0421-818), have been
completed.
The programme consists of four sections:
1) Extension and Exploration from 3100E to 5000E.
Completed 6,042 metres of HQ diamond core for 30 holes.
2) Extension and Exploration from 200W to 950E
Completed 5,562 metres of HQ diamond core for 23 holes. Assays
are outstanding for 3 holes.
3) Deepening and Extending the West Pit from 1,000E to 2000E
Completed 4,093 metres of HQ diamond core for 19 holes. Assays
are outstanding for 3 holes.
4) Deepening and Extending the East Pit from 2100E to 3,000E
Completed 6,036 metres of HQ diamond core for 22 holes. Assays
are outstanding for 5 holes.
The Drilling Programme, on the BAM Gold Deposit and immediate
exploration to the east and west, concluded on the 1(st) August
with the completion of drill-hole 0421-818 on the West pit
extension. Sample preparation is now complete and assay results are
expected to be received by mid-September after which the data will
be collated and forwarded to the Engineers for the Resource
Update.
Planning:
Drilling will re-commence in mid-October at the highly
prospective Felix area along strike and to the west of the BAM Gold
Deposit.
Landore has engaged Cube Consulting of Perth Western Australia
to complete a Mineral Resource Estimate ("MRE") and Preliminary
Economic Assessment ("PEA") update on the BAM Gold Deposit
scheduled for completion in Q3 2021.
BAM GOLD DEPOSIT:
The BAM Gold Deposit is located approximately mid-way along a
highly prospective Archean greenstone belt which traverses the
Junior Lake Property from east to west for approximately 31
kilometres. The favora ble greenstone belt ranges from 0.5 to 1.5
kilometres wide and hosts multiple known gold occurrences including
the Lamaune Gold Prospect .
The Junior Lake Property:
The Junior Lake Property, 100% owned by Landore Resources,
together with the contiguous Lamaune Iron property (90.2% owned)
(jointly the "Junior Lake Property"), consisting of 30,507
hectares, is located in the province of Ontario, Canada,
approximately 235 kilometres north-northeast of Thunder Bay and is
host to: The BAM Gold Deposit; the B4-7
Nickel-copper-cobalt-Platinum-Palladium-gold Deposit; the VW
Nickel-Copper-cobalt Deposit; Lamaune Gold Prospect and numerous
other precious and base metal occurrences.
Covid-19
The Company is following Government Covid-19 guidelines in its
operations in Canada.
Michele Tuomi, (P.Geo., BSc. Geology), Director/VP Exploration
of Landore Resources Canada Inc. and a Qualified Person as defined
in the Canadian National Instrument 43-101 and the AIM Rules for
Companies, has reviewed and verified all scientific or technical
mining disclosure contained in this announcement.
- ENDS -
About Landore Resources
Landore Resources is an exploration company that seeks to grow
shareholder value through the acquisition, exploration and
development of precious and base metal projects in eastern Canada.
The Company is primarily focused on the development of the Junior
Lake Project. Landore Resources has mineral rights to 5 properties
in eastern Canada. The Company is headquartered in Guernsey, with
an
Exploration office located in Thunder Bay, Ontario, Canada.
For more information, please contact:
Landore Resources Limited
Bill Humphries, Chief Executive Tel: 07734 681262
Officer
Glenn Featherby, Finance Director Tel: 07730 420318
Cenkos Securities (Nominated Advisor
and Broker)
Derrick Lee / Peter Lynch Tel: 0131 220 9100
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
RNS may use your IP address to confirm compliance with the terms
and conditions, to analyse how you engage with the information
contained in this communication, and to share such analysis on an
anonymised basis with others as part of our commercial services.
For further information about how RNS and the London Stock Exchange
use the personal data you provide us, please see our Privacy
Policy.
END
DRLBLLLLFVLFBBZ
(END) Dow Jones Newswires
August 23, 2021 02:00 ET (06:00 GMT)
Landore Resources (LSE:LND)
Gráfica de Acción Histórica
De Mar 2024 a Abr 2024
Landore Resources (LSE:LND)
Gráfica de Acción Histórica
De Abr 2023 a Abr 2024
