TIDMLND
RNS Number : 0320W
Landore Resources Limited
13 April 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)
2022 SOIL SAMPLING CONFIRMS THE PRESENCE OF
SIGNIFICANT ANOMOLOUS GOLD AND STRATEGIC METALS
JUNIOR LAKE PROPERTY
London, United Kingdom, 13 April 2023 - Landore Resources
Limited (AIM: LND) ("Landore Resources" or the "Company") is
pleased to report on the results of the 2023 soil sampling
programme carried out along strike to the west of its BAM Gold
Project ("BAM Gold"), Junior Lake Property, Ontario, Canada.
During the Summer/Autumn of 2022, a significant soil sampling
programme was conducted on the Junior Lake property. The programme
covered approximately 13km(2) and expanded on the previous soil
sampling conducted in 2019 and 2020 (see soil report dated 30
November 2019 and 11 January 2020). The extensive 2022 soil
sampling programme collected 1,699 samples, nearly doubling the
total number of samples collected on the property, bringing the
total to 3,852 soil samples.
Highlights:
-- Extensive soil sampling along the Junior Lake shear zone now
extends 16 kilometres from the Placer Dome Gold prospect in the
west, to east of the BAM Gold Deposit . The soil sampling has
successfully infilled and confirmed the presence of highly
anomalous gold occurrences and trends on the Felix prospect in
addition to extending the soil sampling further to the south of
Felix and to the west into the Lamaune Gold area, identifying
direct drill targets.
-- In addition, the 2022 soil sampling also confirmed the
presence of highly anomalous strategic and precious metals
occurrences and trends, generally running parallel to and to the
south of the above gold trends, along strike to the west of the
B4-7 Deposit (Ni-Cu-Co-PGEs) and VW Deposit (Ni-Cu), a distance of
13 kilometres.
Commenting on this report, Chief Executive Officer of Landore
Resources, Bill Humphries, said:
"The highly successful 2022 exploration drilling and soil
sampling programmes on the Junior Lake Property, have identified
new targets for both gold and strategic metals which have the
potential of being advanced into additional resources. This further
supports the Directors' opinion that the Junior Lake Property has
the excellent potential to host significant volumes of both gold
and the highly sought after Strategic Metals for battery
production.
The burgeoning gold price, which is currently testing the
US$2,000 level, further encourages Landore to concentrate its
resources on advancing the BAM Gold project towards development
through growth of the resource and the completion of a
Pre-Feasibility Study, to increase the confidence level.
Meanwhile, the Company will continue to review alternative ways
of advancing its strategic metals assets, including investigating
possible JV partnership, a strategic partner or potential
sale."
2022 Drill Campaign Update:
In July 2022, Landore commenced drilling aimed at targeting
previously-identified gold and battery metals mineralisation over a
distance of 8 kilometres westwards along strike from the BAM Gold
and B4-7 Nickel-Copper-Cobalt-Palladium-Platinum deposits
(Ni-Cu-Co-PGEs).
This drill campaign, completed in December 2022, consisted of 43
drill holes (0422-827 to 0422-846, and 1122-152 to 1122-175) for
7,635 metres of NQ and HQ size diamond core on the Felix - Carrot
Top Zones and Lamaune Gold Prospect. Drilling successfully
intersected precious and/or strategic metals mineralisation in all
areas (Reports 221117 and 230125).
Final results for the Carrot Top infill drilling have also been
received and are notated at the end of this announcement.
2022 SOIL SAMPLING PROGRAMME, JUNIOR LAKE PROPERTY
Landore Resources' geological team completed an extensive soil
sampling campaign during the summer/autumn of 2022 within the Felix
and Lamaune areas along strike to the west from the existing BAM
Gold Project, infilling and extending the successful 2019 and 2020
soil sampling campaigns and confirming the presence of widespread
anomalous gold and multiple gold trends.
A full report on the 2022 soil sampling programme has been
prepared by the Company (the "2022 Report"), with extracts covering
the key information from the 2022 Report set out below. The full
2022 Report containing maps and charts of zones in this report
titled 'Soil Sampling of the Junior Lake property' and dated 31
March 2023 can be viewed on Landore's website at www.landore.com
.
Extracts from the 2022 Report :
"Summary
The Junior Lake property is located approximately 230 kilometres
north-northeast of Thunder Bay, ON. The property contains three NI
43-101 compliant mineral resources, one which is gold (BAM Gold
Deposit), and two of which are battery metals (B4-7
Nickel-Copper-Cobalt-PGEs Deposit and VW Nickel Deposit).
In 2022, an extensive soil sampling program was conducted on the
Junior Lake property. The program covered an approximate 13km(2)
and expanded on the previous soil sampling programs conducted in
2019 and 2020 (see soil report dated 30 November 2019 and 11
January 2020). The extensive 2022 soil sampling program collected
1,699 samples (inclusive of QAQC samples), nearly doubling the
total number of samples collected on the property, bringing the
total to 3,852 soil samples, inclusive of QAQC samples.
The soil samples consist of 300-500g of material collected from
the B horizon of the soil profile, at a nominal spacing of 25m
along lines. Numerous areas were unable to be sampled due to swampy
conditions, signs of disturbance from past forestry operations, or
lack of soil profile above the bedrock.
The 2022 soil program has built and expanded upon previous
sampling programs, further refining previous gold exploration
targets as well as identifying new targets across the property.
This includes further delineating and refining the western trend
from the BAM Gold Deposit for greater than five kilometres. This
report had focused on refined previous gold exploration targets as
well as identified new targets across the property. The increased
sample density has assisted with interpretation and enabled the
identification of regional trends and possible Riedel shear
structures. From these results four priority areas are detailed,
all of which should be followed up with additional work:
1. Soil anomalies show a gold trend extending east of the BAM
Gold deposit for 2.0km. Limited diamond drilling for 1.0km along
the trend has shown that mineralization continues leaving the
additional 1.0km untested and the anomaly open to the east;
2. Anomalous gold values are associated with linear, magnetic
anomalies between Juno Lake and Boras Lake. These trends can be
linked to the BAM Gold Deposit to the east and are open to the
west;
3. Expansion of the northern portion of the Carrot Top Grid to
the east, towards the Lamaune Gold prospect, and to the west,
towards historical Placer Dome drilling. Data indicates a possible
extension of the Lamaune Gold trend; and
4. Preliminary data from widely spaced lines south of the Felix
Lake Grid have returned promising results from a previously under
explored area. Additional work is needed to expand upon the
results.
The multi-year soil sampling program has been deemed a
successful, low-cost tool for exploration and should be expanded to
cover the width of the property.
Introduction
The sampled locations for 2022 span three locations with a total
area of approximately 13km(2) covered and 1,699 samples, including
187 reference samples. The 2022 program expanded on and infilled
areas from the previous programs for a grand total of approximately
17.6km(2) , with 3,852 samples including 410 reference samples.
Much of the 2022 program concentrated on infilling the central
and western portion of the Felix Lake grid, located 1km to the west
of the BAM Gold Deposit. The program infilled the Felix Lake grid
to 100m spaced lines as well as extended the grid south 1.6km along
a series of exploration lines. The remainder of the 2022 soil
samples covered the Carrot Top prospect and test lines located to
the west of the Lamaune Gold Prospect and south of the area
historically drilled by Placer Gold.
Soil samples were collected from the B horizon at a nominal
distance of 25m along traverse lines, using a Dutch auger. Samples
had their location recorded using a handheld GPS as well as the
nominal grid reference. Each sample also had the depth it was taken
and description of colour and composition noted.
Much of the Junior Lake property was extensively logged in the
early 2000's. As a result, areas with obviously disturbed soil were
not sampled. In addition, areas with thick organics or A horizons
>2m, the limit of the soil auger, or conversely no developed
soil profile were not sampled.
Property Description and Location
The Junior Lake property is located approximately 230km
north-northeast of Thunder Bay, ON and approximately 75km
east-northeast of the village of Armstrong, Ontario. The property
is accessible by heading east along gravel logging roads from the
village of Armstrong.
The property consists of 1,318 mineral claims and six mining
leases totaling 33,029 ha.
Regional Geology
The Junior Lake property is located within the Caribou Lake -
O'Sullivan greenstone belt of the East Wabigoon Subprovince of the
Superior Province. The greenstone belt ranges from 3.5 - 15 km in
width, north-south, and extends for 80 - 100 km, east-west
(MacDonald, 2006). To the south it is bordered by the Robinson Lake
Batholith of the Lamaune Batholitic Complex and to the north by a
roughly east-west trending fault zone. Northeast of the property
the belt is intruded by the tonalitic to quartz dioritic Summit
Lake Batholith. Nipigon diabase sills and cross-cutting dykes
intrude the western portion of the greenstone belt.
Regional deformation is west to west-northwest trending and
sub-vertical to steeply dipping foliation and small-scale folding.
Metamorphism is generally greenschist, increasing to amphibolite
near the contact of the batholiths.
BAM Gold Deposit
From 2015 to 2022 Landore has explored for gold on the property
conducting multiple drill programs as well as ground geophysics,
soil sampling and geological mapping.
The Junior Lake property is host to the BAM Gold deposit. A
January 31(st) , 2022, NI 43-101 compliant resource reports the
deposit as having an in-situ resource of 49,231,000 tonnes (t) at
1.0 grams/tonne (g/t) for 1,496,000 ounces of gold consisting of
30,965,000t at 1.0g/t (1,029,000 ounces gold) Indicated and
18,266,000t at 0.8g/t (467,000 ounces gold) Inferred
categories.
Soil Sampling Procedure
Soil samples were collected along traversed lines at a nominal
spacing of 25m, their location was recorded using a handheld GPS as
well as the nominal local grid location was noted. The soil samples
consisted of a minimum of 500g of material collected from the 'B'
horizon. Sample collection was done using a 4 cm Dutch auger and
the sample was placed in clean, brown paper bag specifically
designed for this type of material. All samples had their depth of
collection noted as well as a general description of the sample
itself (see Appendix II). In areas of poor soil development
composite samples were taken using multiple holes. Locations where
soil samples were unable to be taken, the location was noted as
well as the reason for not sampling, such as soil disturbance, no
soil development or thick organics. Once collected, samples were
dried in camp before shipment to the laboratory.
Duplicate samples were taken (4% of samples) and silica blanks
were inserted (4% of samples). Replicate samples were taken at
multiple locations. The replicate samples consisted of three or
four samples taken on an approximately 1 m x 1 m grid.
All soil samples were submitted to ALS Global Ltd. of Thunder
Bay, ON for preparation and then sent to Vancouver, BC for
analysis. The samples were analyzed for low level gold and
additional elements in soils and sediments. The analytical package
used was 'Prep-41, Au Me-ST 43' which involves drying at <60(o)
C and sieving to -180 micron followed by aqua regia digestion and
ICP-MS finish for analysis of gold and 42 additional elements.
Soil Sampling Programs
The 2022 soil sampling program is the most recent and largest of
three soil sampling programs conducted on the Junior Lake Property.
In 2022, a total of 1,699 samples were taken representing 44% of
the 3.852 samples taken on the project to date.
The soil sampling programs have covered approximately 17.6km(2)
over four locations (see Figure 3). Previous sampling programs have
focussed on areas adjacent to the BAM Gold Deposit and around the
Junior Lake Shear zone. The 2022 soil program provided additional
infill lines to these area and tested addition locations to the
west.
2022 Soil Sampling Summary
Soil sampling was conducted along uncut, GPS traverses. The
program covered three areas: 1) infilling and expanding the
previously sampled Felix Lake grid, 2) a small grid over the Carrot
Top Ni-Cu-Co-PGE Prospect, and 3) a preliminary grid in the area of
historic drilling by Placer Dome, east of the Lamaune Gold
Prospect.
Felix Lake Grid
In 2022, an additional 1,048 samples were taken on the Felix
Lake grid (see Figure 4). Samples were taken along GPS traverse
lines, infilling the previous cut lines to provide 100m spaced line
coverage over the grid. The established grid was expanded to the
southwest along traversed lines spaced 100-200m apart. In addition,
samples were also taken along wide spaced, test lines extending
approximately 1.6km south of the established grid.
Carrot Top Grid
In 2022, 337 soil samples were collected from the area
surrounding the Carrot Top Ni-Cu-Co-PGE Prospect (see Figure 5).
The Carrot Top Prospect consists of highly anomalous PGE's
associated with nickel, copper and cobalt mineralization within a
hydrothermally altered ultramafic. The soil samples were initially
collected from 200m spaced, GPS traverses. Additional infill GPS
traverses were done to bring the coverage to 100m spaced lines over
the prospect itself.
Placer Grid
In 2022, 127 samples were collected from test lines conducted
east of the Lamaune Gold prospect in the area of the historic
Placer Gold exploration (see Figure 6). Due to time constraints and
difficulties in access, terrain and soil conditions only four test
lines of limited length were conducted. The test lines were unable
to sample near the historic drilling.
2020 Soil Sampling Summary
Sampling was conducted along a combination of cut grid lines
with a small amount of infill and line extensions done along uncut
lines. A total of 1,013 samples were collected, including reference
samples. The sampling program covered three areas: 1) the expanded
Felix Lake grid, 2) extending the Junior Lake grid coverage, and 3)
a new grid to the east of the BAM Gold deposit.
2019 Soil Sampling Summary
Sampling was conducted along cut grid lines with 1141 samples,
including reference samples, taken. The sampling program was
conducted over the Junior Lake grid and Felix Lake grid, roughly
spanning a 5km x 1.2km area.
QAQC
Through all the sampling program a system of inserting a control
sample every ten samples was used. Silica blanks and field
duplicates were alternated. In addition, replicant samples, three
to four samples taken on a 1m x 1m grid, have been taken throughout
the sampled areas and during each program. The QAQC samples were
examined in detail after each field season.
The duplicate samples taken to date have correspond well and
have been acceptable through all the sampling programs. In 2022, 83
duplicate samples were taken. The majority of elements have 90% of
the duplicate pairs within +/-20% of the duplicate values, that
increases to >90% of the values when the range is expanded to
+/-30%. The outliers are attributed to a combination of several
factors. The outliers often have low values, within ten times
detection limits, making precise values difficult. As well,
numerous locations had thin B horizons which resulted in composite
samples being taken from multiple holes and can lead to a higher
degree of contamination (other soil horizons, organics).
The replicate samples were taken at multiple locations across
the project and consist of three to four samples on an approximate
one meter by one meter square. The replicate samples taken to date,
generally, correspond well and have been deemed acceptable with the
2022 samples no different. In 2022 six replicant sample sets
consisting of four samples were taken. Five of the replicant sets
have four of the samples' values within <20%. One of the
replicant sets had one of the four samples with gold >20% of the
other samples.
Soil Sampling Results
The response ratios (RR) were calculated for all elements by
taking the background value (average of the lower 25 quartile, see
Table 1) and dividing it into the analytical value. The background
value was determined using the complete sample set from all soil
sampling programs. RRs are rounded and values of >=5 are
considered anomalous, values >=10 are considered highly
anomalous and RR's >=30 are considered significant.
Table 1 : Select elements' calculated background values.
Element Au Ag As Cu Ni Co
Background Value 0.305 ppb 0.013 ppm 1.05 ppm 4.08 ppm 5.80 ppm 2.30 ppm
---------- ---------- --------- --------- --------- ---------
A correlation matrix was generated for the samples taken using
both the Pearson and the Kendall correlation (see Table 2). The
Pearson correlation coefficient measures the linear dependence
between two variables, as X increases so does Y, while the Kendall
correlation method is a non-parametric rank based analysis, the
highest values of X occur with the values of Y. The Pearson
correlation only shows a very weak correlation (0.2-0.3) between
gold and tungsten. The Kendall correlation shows very weak to weak
correlation (0.2-0.4 is weak correlation) between gold and
chromium, copper, arsenic, cobalt and nickel with nor correlation
to tungsten. The correlations are questionable and are a reflection
of the gold mineralization being associated with a sulphide horizon
(the BAM gold deposit has a sulphide horizon in the footwall; the
Lamaune gold prospect is associated with banded iron formation)
rather than being associated with the gold mineralization. As a
result, the correlation matrixes were deemed to not be useful at
this time for gold exploration.
Table 2 : Select elements' correlation matrix values with
Au.
Element Cr Co As Cu Ni W
Au - Pearson 0.17 0.13 0.08 0.10 0.10 0.28
----- ----- ----- ----- ----- -----
Au - Kendall 0.18 0.19 0.21 0.23 0.19 0.07
----- ----- ----- ----- ----- -----
The correlation matrix was also used to look at base metals and
associated elements (nickel, copper, cobalt, chromium, iron, zinc,
and arsenic; see Table 3). There is a weak to moderate correlation
for the associated elements, much as expected. The PGE's analyses
were examined but were unable to be used as <1% of the values
were above detection levels.
Table 3 : Select base metal elements' correlation matrix.
Pearson Cr Co As Cu Ni Kendall Cr Co As Cu Ni
Cr 1.00 Cr 1.00
----- ----- ----- ----- ----- -------- ----- ----- ----- ----- -----
Co 0.63 1.00 Co 0.60 1.00
----- ----- ----- ----- ----- -------- ----- ----- ----- ----- -----
As 0.14 0.19 1.00 As 0.38 0.35 1.00
----- ----- ----- ----- ----- -------- ----- ----- ----- ----- -----
Cu 0.23 0.41 0.25 1.00 Cu 0.35 0.52 0.31 1.00
----- ----- ----- ----- ----- -------- ----- ----- ----- ----- -----
Ni 0.68 0.68 0.12 0.33 1.00 Ni 0.64 0.80 0.36 0.54 1.00
----- ----- ----- ----- ----- -------- ----- ----- ----- ----- -----
An examination of the gold RR showed there were 183 samples
collected in 2022 with anomalous values (RR>=5; 434 samples
inclusive of previous years). Of these samples 48 (91 inclusive)
had RR values of 10-30 while 10 (36 inclusive) had RR >30.
Previously, to help prioritize anomalous samples a criterion of
Au+As+Cu RR>5 was used. This criterion was established in 2019
as a signature of the gold mineralization of the BAM Gold deposit.
The criterion was developed using the available, limited, samples
above the known mineralization. Since then, expansion drilling has
been conducted to the east and west of the BAM Gold deposit, over
areas that were soil sampled prior to the surface diamond drilling
and associated disruption of the soil.
In 2021, step out drilling to the east of the BAM Au deposit
followed up on sporadic results from drilling in 2017 and followed
the mineralized horizon as defined by drilling. Comparison of soil
sample anomalies show a strong correlation between anomalous
(RR>5) Au+As+Cu and Au samples with gold mineralization
encountered in diamond drilling (see Figure 7). Additional
anomalous soil samples occur to the south and north with the
southern samples representing either additional mineralized lenses
or weak soil dispersion. The anomalous samples to the north
represent potential additional mineralized horizons.
Summary of Results
The complete set of soil data was used to identify anomalies and
their trends. To identify anomalies, several elements with RR>=5
were examined. In particular Au, Ag, As, and Cu, with these
elements often being closely associated with gold deposits and the
combination of Au+As+Cu, characteristic of the BAM deposit. Using
these criteria, locations with coincident Au+As+Cu, and to a lesser
extent Ag, anomalies were examined in detail. Sites with anomaly
trends consisting of coincident Au+As+Cu anomalies, as well as
additional sites with Au RR>30, are listed in Table 4. The local
grid locations are shown in Figure 8. Trends were grouped into
regions, where possible and are shown in subsequent figures (Figure
9-13).
Interpretation
The multi-year soil sampling programs have shown promising
results for gold exploration. Examination of the data after each
program has allowed successive programs to build on the results.
The programs have shown it is possible to correlate anomalous
samples across great distances. It is important, while doing so, to
not just rely on the intensity of the RR of elements but to also
use a multi-element classification. This is highlighted when the
BAM showing is examined. The original BAM occurrence has multiple
gram surface samples but only generate an Au RR of 5-6 in the
immediate samples. This criterion is not meant to exclude single
element Au anomalies or deposits with different signatures.
The soil sampling data from 2022 has refined previously defined
anomalies originating from the BAM Gold deposit. The new data has
enabled the anomalies to be traced to the west 5.4km from the
deposit, and previous data has trends extending 2.0 km to the east.
Portions of these trends have been drilled during expansion of the
deposit, showing that the gold mineralization does occurs along the
defined trends and that soil sampling can be used in targeting and
predicting. It is important to note that soil results should be
part of a multiprong approach to gold exploration. Soil sampling is
an excellent, low cost, quick exploration tool that when combined
with geophysics, surficial mapping and sampling will provide drill
ready targets. Soil anomalies taken alone do not give a pin point
location for targeting but do highlight areas of increased
prospectivity and interest for follow up exploration by more costly
methods.
On the Junior Lake Property, to assist in correlating anomalies
across multiple lines, the regional fabric of the area was used.
The fabric, taken from field observations and geophysics, typically
has an orientation of 105-115(o) . The geophysics also highlights
formational sulphide zones within the area that are used as both
marker horizons and to illustrate the fabric within a region.
Breaks within the geophysics indicate the presence of potential
cross-cutting structures within the area.
A second interpretation of the soil anomalies was done removing
the biases of the regional fabric. Only the soil anomalies were
displayed and interpreted (see Figure 14 and Appendix I). After
interpretation trends similar to the first interpretation were
discarded. The trends left display a consistent trend to the
northeast-southwest, the presumed direction of rideau shears within
the area.
Conclusions and Recommendations
The 2022 soil sampling program was a success in helping to
define and expand on anomalies from previous work as well as
identification of trends in new locations. Anomalies have been
traced from the BAM Gold deposit previously to the east, 2.0km, and
to the west, over 5km. The 2022 soil results have further
delineated and refined the western trend through additional
sampling. In addition, newly defined anomalies have been identified
along test lines extending to the south. Newly identified anomalies
occur approximately 1.0km south of previously identified trends and
represent a potential new gold horizon.
The 2022 soil program identified new potential gold bearing
trends in the Carrot Top area. The trends represent a continuation
of the Lamaune Gold mineralization located to the east. The test
lines on the Placer Grid need extension as they did not reach the
target area.
Diamond drilling have shown that soil anomalies do correlate
with anomalous gold mineralization. Diamond drilling in the Felix
Lake Grid area and diamond drilling along the eastern portion of
the BAM Gold Deposit have returned anomalous gold (>100 ppb Au)
in drill core. These locations have coincident soil anomalies
associated with them.
Recommendations:
- Survey lines should be continued in areas of interest, such as
south of the Felix Grid, expanding on existing work. Work in 2022
has shown these lines can be done quickly via GPS and do not
require a cut line. Initial line spacing of 500m is useful to show
potential within areas, with the line spacing changing to 200m to
get a rough trend orientation. The line spacing should be further
reduced in areas of interest. The length of the infill line should
extend a minimum of 200m above and below the interpreted anomaly
with consideration given to access to the area.
- Intensive prospecting is to be conducted along anomalous gold
trends. Previous work has indicated that unassuming, weakly sheared
surface samples can return significant gold values. Due to this,
sampling of all outcrops, where they occur, needs to be conducted
in high priority areas.
- The test lines in the area of the Placer Grid need to be
extended to cover the area of historic drilling.
- Additional sample lines need to be done from the northern
extent of the Carrot Top Grid to Lamaune Gold Prospect to the
east.
- Test lines need to be done over the Lamaune Gold occurrence, if possible, to determine its characteristics and apply this as a filter to the existing samples collected. Sampling in the area will be complicated due to the extensive soil disturbance from past drilling, extra care will need to be taken.
- Property scale soil sampling to be done using 500m spaced lines to the east and the west.
- Areas with exploration drilling and surface sampling to have
data integrated with soil samples.
From the soil sampling programs there are four areas identified
as priority targets:
1. The eastern extension of the Junior Lake grid contains
numerous anomalies. Work has been done in the area expanding the
known BAM Gold mineralization. The soil sampling shows a continuous
soil anomaly along the interpreted BAM Gold mineralization as well
as possible additional anomalies to the north and south.
Recommendations in the area consist of:
a. Continued drilling along the defined trend.
b. Detailed prospecting along the possible anomalous trends to the north and south.
c. Extension of the soil sampling grid to the east to follow
along the anomalous values and guide exploration.
2. Follow up on the multiple anomalous trends between Juno Lake
and Boras Lake. Unfortunately, terrain may prove to be a problem as
much of the area has thick overburden. Identification of a
fingerprint for the Lamaune Gold occurrence to the west may assist
in narrowing down generated anomalies associated with prospective
iron formations.
3. Expansion on the test lines done in the area east of North
Lamaune Lake, testing the historic Placer Dome drilling and
continuing to the east, through the Carrot Top grid to the Lamaune
Gold prospect.
4. Expansion of the Felix Lake soil sampling to the south.
Preliminary lines have returned numerous anomalies along widely
spaced lines."
End of Extracts
Drilling Update
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). (Reports 221117 and 230125)
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 was aimed at infilling and extending the above area to
allow modelling for resource purposes. All assay results have now
been received.
Results not previously reported include:
Easting Northing Drill-hole From Width* Ni Cu Co Au Pt Pd
No Metres Metres ppm ppm ppm ppb ppb ppb
--------- ----------- ------- ------- ----- ----- ---- ---- ---- ----
11100 10050 1122-160 59.82 3.70 1311 82 81 10 2 2
--------- ----------- ------- ------- ----- ----- ---- ---- ---- ----
11100 10100 1122-161 4.48 19.70 1165 150 83 1 1 <1
--------- ----------- ------- ------- ----- ----- ---- ---- ---- ----
11170 10000 1122-162 17.09 3.06 1150 843 114 4 56 130
--------- ----------- ------- ------- ----- ----- ---- ---- ---- ----
And 32.43 7.13 1393 1064 127 5 44 153
--------- ----------- ------- ------- ----- ----- ---- ---- ---- ----
11315 10100 1122-163 116.78 7.00 1505 1172 136 6 45 222
--------- ----------- ------- ------- ----- ----- ---- ---- ---- ----
and 131.26 2.17 1694 1303 175 4 73 285
--------- ----------- ------- ------- ----- ----- ---- ---- ---- ----
11360 10080 1122-164 148.54 4.67 1306 664 128 2 37 146
--------- ----------- ------- ------- ----- ----- ---- ---- ---- ----
1122-165 131.74 1.26 1550 2020 160 9 18 172
--------- ----------- ------- ------- ----- ----- ---- ---- ---- ----
10900 10090 1122-166 44.62 39.88 622 151 63 5 10 31
--------- ----------- ------- ------- ----- ----- ---- ---- ---- ----
includes 56.95 2.05 2858 883 197 16 31 166
--------- ----------- ------- ------- ----- ----- ---- ---- ---- ----
1122-167 87.94 7.25 1107 326 109 1 21 77
--------- ----------- ------- ------- ----- ----- ---- ---- ---- ----
10600 10060 1122-169 133.00 4.75 1158 777 121 8 32 151
--------- ----------- ------- ------- ----- ----- ---- ---- ---- ----
and 169.20 1.05 2150 1475 254 2 <5 172
--------- ----------- ------- ------- ----- ----- ---- ---- ---- ----
10500 10050 1122-171 192.56 2.72 1548 671 139 15 29 118
--------- ----------- ------- ------- ----- ----- ---- ---- ---- ----
* The actual true thickness of mineralisation is estimated to
represent between 75%-80% of the intervals shown in the above
table.
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 Q3 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 strategic 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
Strand Hanson Limited (Nominated
Advisor and Broker)
JamesDance/Matthew Chandler/Robert Tel: 020 74093494
Collins
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END
DRLEAXLAFEDDEFA
(END) Dow Jones Newswires
April 13, 2023 02:00 ET (06:00 GMT)
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