TIDMLND
RNS Number : 1866L
Landore Resources Limited
09 September 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 - 9th September 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
-- Drilling results from below the BAM East defined pit between
2550E and 2750E have continued to report wide zones of ore grade
gold mineralisation within the gabbro 'hanging wall' unit, with
drill hole 0421-809 intersecting 15.00 metres at 2.48 grams per
tonne gold, including 1.00 metre at 22.60 grams per tonne gold.
There have been multiple sightings of visible gold in the drill
core.
BAM Gold Deposit:
To date a total of 21,933 metres of HQ diamond core drilling,
comprising 94 drill holes, (0420-725 to 0421-818) have been
completed in this Drilling Programme of which 10,129 metres for 41
drill holes were drilled below the existing BAM Gold Deposit from
1000E to 3000E aimed at deepening and extending the existing
resource. Assay results are outstanding for seven drill holes.
Results not previously reported include:
Easting Northing Drill-hole From Interval* Au
No Metres Metres g/t
--------- ----------- ------- ---------- ------
2750E 100S 0421-808 103.65 14.05 0.61
--------- ----------- ------- ---------- ------
and 193.73 6.17 1.45
--------- ----------- ------- ---------- ------
2700E 150S 0421-809 154.30 1.00 11.35
--------- ----------- ------- ---------- ------
and 168.30 15.00 2.48
--------- ----------- ------- ---------- ------
including 171.30 4.00 7.36
--------- ----------- ------- ---------- ------
including 174.30 1.00 22.60
--------- ----------- ------- ---------- ------
and 195.55 3.00 4.07
--------- ----------- ------- ---------- ------
including 195.55 1.00 10.75
--------- ----------- ------- ---------- ------
and 252.11 1.09 3.07
--------- ----------- ------- ---------- ------
2600E 100S 0421-810 180.26 6.05 0.80
--------- ----------- ------- ---------- ------
and 195.19 8.67 1.02
--------- ----------- ------- ---------- ------
2550E 60S 0421-811 138.80 1.33 1.92
--------- ----------- ------- ---------- ------
and 175.63 3.96 2.87
--------- ----------- ------- ---------- ------
including 178.60 0.99 9.33
--------- ----------- ------- ---------- ------
and 200.51 2.66 0.96
--------- ----------- ------- ---------- ------
and 233.95 8.27 0.86
--------- ----------- ------- ---------- ------
and 280.50 1.06 8.80
--------- ----------- ------- ---------- ------
* 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
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.
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 has been completed with assay results
now expected to be received by late-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 now
scheduled for completion in Q4 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
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END
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