TIDMLND
RNS Number : 7664G
Landore Resources Limited
17 November 2022
The following corrections have been made to typographical errors
in the "Drill and Exploration Update" released by Landore Resources
Limited at 7.00am on 17 November 2022 under RNS No. 6940G ("RNS
6940G").
-- Felix Drill Programme: RNS 6940G stated that "Anomalous gold
was recorded with the highest recorded being a near-surface
intersection of 438ppm in drill hole 0422-832..." now states
"Anomalous gold was recorded with the highest recorded being a
near-surface intersection of 438ppb in drill hole 0422-832..."
-- RNS 6940G reported the result of Drill hole 0422-843 as
"0.61% Pd and 0.19% Pt over 1.97m from 162.53m.", which is now
reported as "0.61g/t PD and 0.19g/t over 1.97m from 162.53m."
All other details remain unchanged. The full amended text is
below, with changes marked by an asterisk.
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)
DRILL AND EXPLORATION UPDATE
FELIX-LAMAUNE PROSPECTS
JUNIOR LAKE PROPERTY
London, United Kingdom - 17(th) November 2022 - Landore
Resources Limited (AIM: LND) ("Landore Resources" or "the Company")
is pleased to provide a progress report on the drilling and
exploration programme being carried out on the Felix-Lamaune
prospects at the Company's Junior Lake Property, Ontario,
Canada.
In July 2022 Landore commenced an exploration programme,
consisting of 7,500 metres of drilling together with further soil
sampling, on the highly prospective Felix-Lamaune areas located to
the immediate west for 11 kilometres along strike from the BAM Gold
Deposit and the B4-7/VW Nickel-Copper-Cobalt-Palladium-Platinum
deposits (Ni-Cu-Co-PGEs).
Felix Drill Programme :
A drilling programme consisting of 21 drill holes for 3,800
metres of NQ diamond core 0422-827 to 0422-845 plus 1122-152 and
1122-153, has been completed on the Felix area from 1100W to 5000W
along strike to the west from the BAM Gold and B4-7/VW Battery
Metals deposits.
Highlights:
-- Drill Hole 0422-845, located 3500W, intersected significant p
alladium-enriched nickel mineralisation over 21.74 metres reporting
0.10% Nickel, 0.12% Copper, 0.01% Cobalt, 0.34g/t Palladium,
0.11g/t Platinum from 115.1, including 1.45g/t Pd and 0.51g/t Pt
over 0.7 metres. The mineralisation is hosted in a sheared Gabbro
unit.
-- The above intersection extends the Grassy Pond Prospect,
discovered in 2008 (see RNS dated 30(th) September 2008 for further
details), for a further 250 meters along strike to the east from
drill hole 1108-30 which reported palladium-enriched nickel
mineralisation over 22 meters of 0.10% Ni. 0.13% Cu, 0.01% Co,
0.25g/t Pd, and 0.09g/t Pt from 5.0 metres also hosted in sheared
gabbro. The Grassy Pond prospect now extends from 3500W to 4150W
and remains open to the east and west.
Commenting on this report, Chief Executive Officer of Landore
Resources, Bill Humphries, said:
"The above Grassy Pond Prospect promises to be yet another link
in the chain of Battery Metals deposits/prospects so far identified
along the southern margin of the Grassy Pond Sill from the
palladium-enriched Nickel Carrot Top zone in the West to the B4-7
Nickel-Copper-Cobalt-Platinum Group metals deposit 11 kilometres to
the East. This is just a small portion of the 30-kilometer shear
zone, highly prospective for Battery Metals and Gold, which
transects Landore's Junior Lake property."
Lamaune Drill Programme:
A 3,700-metre diamond drilling campaign commenced on the 20(th)
October on the highly prospective Lamaune area, commencing on the
Carrot Top Nickel zone, located on the Lamaune grid between 10500E
to 11500E along strike from the BAM Gold Deposit and to the south
of the Lamaune Gold Deposit. The Carrot Top Zone was previously
drilled from 2003 to 2010 reporting significant palladium-enriched
nickel mineralisation including drill hole 1108-25 intersecting
5.48 metres of 0.33% Ni, 0.15% Cu, 0.02% Co, 0.28g/t Pd, and
0.08g/t Pt from 85.0m. The current programme is aimed at infilling
the above area to allow modelling for resource purposes. To date 11
drill holes have been completed for 1,889 metres. All assay results
are outstanding. Once the Carrot Top drilling is completed the
drill rig will be moved to the adjacent Lamaune Gold Prospect to
commence an infill and extension programme.
Exploration - Soil Sampling:
During the summer of 2022 soil sampling was conducted on the
Junior Lake property aimed at infilling and extending the 2019/20
soil sampling programme (see soil report dated 14(th) January
2021). A total of 1,699 samples, inclusive of QAQC samples, were
collected. Soil sampling consisted of collection at the B horizon
at a nominal spacing of 25m.
Felix Zone: An infill and extension soil-till sampling programme
was completed on the 5.5-kilometre-long Felix zone located to the
immediate west and along strike of the BAM Gold Deposit. A total of
1,177 soil-till samples were taken infilling the existing wide
spaced samples taken in 2020/21 together with extending the western
area from 4000W to 6000W for 1.5 kilometres further to the south to
cover a highly prospective geophysical anomaly area identified by
the 2004 geophysics programme.
Lamaune Area: In addition, the soils programme has been extended
further to the west along strike into the adjacent Lamaune area
covering the Carrot Top Battery Metals prospect, 377 soil-till
samples, and still further to the west over the historic Placer
Gold Zone, 145 soil-till samples.
Collation and interpretation of the results from the above
soil-till sampling programme is ongoing and will be included in a
report anticipated to be completed in Q1 2023.
Felix Drill Programme:
The programme was split into three zones:
Zone 1: Comprising 9 drill holes for 1,509 metres (0422-827 to
0422-834), to explore a cluster of conductors MM-23, 24, 27 and 28
along the north-eastern portion of Felix from 1100W to 2000W. All
lithologies encountered at BAM were observed at Felix but are
significantly less deformed. Anomalous gold was recorded with the
highest recorded being a near-surface intersection of 438ppb* in
drill hole 0422-832 over 1.1 metres from 55.0 metres.
Zone 2: Comprising 7 drill holes for 1,280 metres (0422-835 to
0422-842), to explore conductor MM-21 east, a possible extension of
the B4-8 Zone, along the south eastern area of Felix from 1300W to
1700W. Lithologies were similar to the B4-8 however the conductors
intercepted were generally associated with mild to moderately
deformed Banded Iron Formation. Results indicate some elevated
gold, copper and cobalt results, including:
Drill hole 0422-839 reporting 0.39g/t Au and 1.46% Cu over 1.07m
from 36.33m.
Drill hole 0422-840 reporting 1.82g/t Au and 0.81% Cu over 1.14m
from 31.00m.
Drill hole 0422-842 reporting 1.90g/t Au and 0.03% Co over 0.53m
from 145.87m.
Zone 3: Comprising 5 drill holes for 1,005 metres (0422-843 to
0422-845 and 1122-152 and 1122-53) to explore the conductor MM-21
west plus the Grassy Pond prospect from 3000W to 5000W. Results
were generally promising especially in the vicinity of the Grassy
Pond prospect, including:
Drill hole 0422-843 reporting 0.61g/t Pd* and 0.19g/t Pt* over
1.97m from 162.53m.
Drill hole 0422-845 reporting 0.34g/t Pd and 0.11g/t Pt over
21.74m from 115.10m.
Including 1.45g/t Pd and 0.51g/t Pt over 0.70m from 116.30m
And 1.86g/t Au and 0.55% Cu over 1.00m from 23.00m.
50-metre step forward and step back drill holes to 0422-845 are
planned to be drilled before completion of the 2022 season to
determine the geometry of the mineralisation and to plan an
infill-extension drilling campaign of the Grassy Pond prospect in
2023.
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 33,029
hectares, is located in the province of Ontario, Canada,
approximately 235 kilometers north-northeast of Thunder Bay and is
host to; the BAM Gold Deposit; the B4-7
Nickel-Copper-Cobalt-Platinum-Palladium Deposit; the VW
Nickel-Copper-Cobalt Deposit; Lamaune Gold Prospect and numerous
other precious and base metal occurrences.
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 -
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 6939
Strand Hanson Limited (Financial
Adviser) Tel: 020 7409 3494
James Dance / James Spinney / Robert
Collins
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