TIDMLND
RNS Number : 8265N
Landore Resources Limited
25 January 2023
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
SIGNIFICANT FURTHER BATTERY METALS INTERSECTED
JUNIOR LAKE PROPERTY
London, United Kingdom - 25 January 2023 - Landore Resources
Limited (AIM: LND) ("Landore Resources" or "the Company") is
pleased to provide a progress report on the drilling and
exploration programme carried out on the Felix-Lamaune prospects at
the Company's Junior Lake Property, Ontario, Canada.
In the summer and autumn of 2022 Landore completed an
exploration-drilling programme, consisting of 43 drill holes for
7,635 metres of diamond core, on the Felix - Carrot Top Zones
located from one to eight kilometres west along strike from the
1.5-million-ounce BAM Gold Deposit and the B4-7/VW
Nickel-Copper-Cobalt-Palladium-Platinum deposits
(Ni-Cu-Co-PGEs).
Highlights:
-- The Felix Zone - Grassy Pond Prospect: - Drill hole 0422-846,
located on local cut grid line 3500W, intersected significant
palladium-enriched nickel mineralisation over 25.84 metres
reporting 822ppm Nickel, 1087ppm Copper, 81ppb Platinum, and 290ppb
Palladium from 35.26m, including 0.75 metres 1425ppm Ni, 1430ppm
Cu, 773ppb Pt, and 2540ppb Pd from 36.20m.
-- The above drill hole was drilled as a 50-metre step forward
to drill hole 0422-845 (reported 221117) successfully projecting
the wide mineralisation to near surface. The Grassy Pond Prospect
extends 650 metres from line 3500W to 4150W and remains open to the
east and west.
-- Carrot Top Zone - Drill hole 1122-154, intersected
significant palladium-enriched nickel mineralisation over 16.19
metres reporting 1674ppm Nickel, 1006ppm Copper, 138ppm Cobalt,
36ppb Platinum, and 146ppb Palladium, from 51.64 metres, including
0.36 metres reporting 17200ppm Ni, 700ppm Cu, 1055ppm Co, 157ppb
Pt, and 663ppb Pd from 51.64m. The Carrot Top Zone extends from
10500E to 11360E and remains open to the east and west.
Commenting on this report, Chief Executive Officer of Landore
Resources, Bill Humphries, said:
"The exploration campaign on the Felix-Lamaune area has clearly
confirmed that, in addition to the advanced 1.5 million ounce BAM
Gold deposit, the Junior Lake property hosts significant volumes of
highly valuable battery metals, including palladium enriched
sulphide Nickel with associated Cobalt and Copper, the presence of
which has now been established through drilling for 11 kilometres
from the Carrot Top Zone in the west to the B4-7, Alpha zone and VW
Nickel-Copper-Cobalt-PGEs compliant deposits in the east, with the
remaining 20 kilometres of the highly prospective greenstone-shear
zone, transecting Landore's Junior Lake property, yet to be
explored.
Felix prospect :
In addition to the 21 drill hole programme reported on the
17(th) November 2022, an additional drill-hole, 0422-846 for 81.05m
of HQ diamond core, has since been drilled as a 50m step forward to
drill-hole 0422-845 successfully projecting the palladium enriched
nickel mineralisation to surface. Drilling intersected
mineralisation over 25.84 metres reporting 822ppm Ni, 1087ppm Cu,
81ppb Pt, and 290ppb Pd from 35.26m, including 0.75 metres 1425ppm
Ni, 1430ppm Cu, 773ppb Pt, and 2540ppb Pd from 36.20m.
Carrot Top Zone :
A drilling programme consisting of 20 drill holes for 3,436m of
NQ diamond core, 1122-154 to 1122-173, has been completed on Carrot
Top Zone, located approximately 7 to 8 kilometres along strike to
the west of the BAM Gold and B4-7/VW Battery Metals deposits. The
Carrot Top Zone was previously drilled from 2003 to 2008 reporting
significant palladium-enriched nickel mineralisation. The current
programme is aimed at infilling and extending the above area to
allow modelling for resource purposes. Assays are outstanding.
Results received to date include:
Easting Northing Drill-hole From Width* Ni Cu Co Au Pt Pd
No Metres Metres ppm ppm ppm ppb ppb ppb
--------- ----------- ------- ------- -------- ----- ----- ---- ---- ----
10500 10000 1122-156 104.6 6.00 993 469 91 10 29 112
--------- ----------- ------- ------- -------- ----- ----- ---- ---- ----
and 134.18 1.71 2406 971 219 173 65 293
--------- ----------- ------- ------- -------- ----- ----- ---- ---- ----
10600 10000 1122-154 51.64 16.19 1674 1006 138 7 36 146
--------- ----------- ------- ------- -------- ----- ----- ---- ---- ----
including 51.64 0.36 17200 700 1055 21 157 663
--------- ----------- ------- ------- -------- ----- ----- ---- ---- ----
including 61.25 6.58 1676 1000 152 11 53 224
--------- ----------- ------- ------- -------- ----- ----- ---- ---- ----
and 80.20 12.52 1045 755 108 7 30 125
--------- ----------- ------- ------- -------- ----- ----- ---- ---- ----
10600 10010 1122-155 83.25 1.4 3486 816 290 8 64 235
--------- ----------- ------- ------- -------- ----- ----- ---- ---- ----
and 110.60 0.5 1685 2640 152 6 59 279
--------- ----------- ------- ------- -------- ----- ----- ---- ---- ----
and 113.50 3.65 1274 946 130 6 68 242
--------- ----------- ------- ------- -------- ----- ----- ---- ---- ----
10700 10000 1122-157 79.00 1.00 1995 675 193 1 23 180
--------- ----------- ------- ------- -------- ----- ----- ---- ---- ----
and 87.6 6.32 1433 578 135 2 25 117
--------- ----------- ------- ------- -------- ----- ----- ---- ---- ----
including 92.28 0.47 4070 1570 358 9 51 483
--------- ----------- ------- ------- -------- ----- ----- ---- ---- ----
10800 10000 1122-158 29.80 16.10 1059 344 114 3 18 70
--------- ----------- ------- ------- -------- ----- ----- ---- ---- ----
* The actual true thickness of mineralisation is estimated to
represent between 75%-80% of the intervals shown in the above
table.
Lamaune Gold Deposit:
The Lamaune Gold Prospect is located 300 to 500 metres to the
north and parallel to the Carrot Top Zone.
A drilling programme consisting of 2 drill holes for 405 metres
of HQ diamond core, 1122-174 to 1122-175, was completed on the
Carrot Top zone prior to the winter break, The core has been logged
and will be processed and sent for assay on re-commencement of 2023
operations.
For previous exploration information on the Carrot Top Zone and
Lamaune Gold Deposit see RNS 20(th) July 2020.
Planning: Landore's plans for 2023 are to focus on advancing its
highly prospective BAM Gold project, targeting a two-million-ounce
resource together with completing a pre-Feasibility study,
concentrating on:
-- The underground potential at BAM as identified by CUBE in the
May 2022 Resource Upgrade and presentation.
-- Advancing the existing Inferred resource into an Indicated
Resource together with infilling the exploration targets to the
immediate east and west of the resource.
-- Commencing pre-feasibility studies in Q2 to advance the BAM Project towards production.
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
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