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In addition to the Gold here, there's the 'Battery Metals' focus with the Nickel.
RNS, on 3rd March: ______
The growing adoption of electric vehicles (EVs) is driving the increasing demand for nickel, cobalt and lithium ("Battery Metals") - which are each critical metals used as cathode materials for lithium-ion batteries in the automotive industry, as well as the energy and electronics industries.
In addition to advancing the BAM Gold Deposit on which Landore remains focused, the Company is encouraged by the increased demand for 'Battery Metals' as Landore's highly prospective Junior Lake property is host to significant Battery Metals Resources and prospects delineated by Landore prior to the discovery of BAM Gold. These resources are compliant to Canadian National Instrument 43-101 (NI43-101).
The Junior Lake Nickel is the highly sought-after Grade 1 sulphide Nickel suitable for 'Battery Metals'.
"With the burgeoning demand and increase in world prices for Battery Metals, the Board considers these projects to be viable once again, significantly adding to the overall value of Landore's highly prospective Junior Lake property."
At over $20 billion dollars a year, nickel is already one of the world’s most important metal markets. However, with the rise in demand for electric vehicles, nickel is potentially on the cusp of a fundamental supply shift where quality over quantity comes crashing to the fore.
That’s because not all nickel is created equal.
Approximately 62.4 percent of today’s nickel supply is nickel laterites, which produce products such as nickel pig iron and ferronickel. While abundant, these low-grade metals are inadequate for battery manufacture. Instead, the growing demand for EV battery components must be met by higher-grade––but much rarer––nickel sulphides, which produce such products as nickel metal and nickel sulphate.
* Only 15kt of nickel was sourced from finished (Class 1) nickel in 2017; a single Chevy Bolt features 23kg of nickel in its battery. * Future battery chemistries are expected to contain more nickel, not less––comprising up to 80% of the battery cathode mass used by companies like Chevy and Tesla
Fitch has updated its estimate of the impact of EV battery manufacturing on nickel consumption and now expects nickel demand for EV battery manufacturing to experience an annual average growth rate of 29% over 2021-2030, outpacing both lithium and cobalt demand, the analyst says.
The BAM gold deposit sits on a 31 km strike, where soil has been sampled, there is anomalous gold over a 7 km strike. Not impossible it could extend the whole 31 km.
We currently have 1 million oz gold at the BAM deposit - it is suitable for open pit and cheap to mine.
The current drilling campaign is focusing on infill, extension and exploration drilling.
Infill drilling: In previous campaigns the average resource oz to m drilled is 22oz per m, if this continues we should be looking at an upgraded resource to around 1.5 million oz in the summer?
Extension at depth - beneath the current defined resource: This is very exciting, the drill result today - which was just a very small section of the core - confirmed the presence of ultra high grade veins i.e. continuous - not an isolated nugget. They are waiting on 7 other drill assays targeting this region, and the remainder of the core reported today. If these hit further high grade zones, which the LND team seem very confident on, we are talking of a serious re-rate and I am sure it will be of interest to potential suitors. The density of these drill results will likely not be enough to contribute to the resource.
Exploration: Then we have the exploration drilling focusing on targets outside the defined resource. We have yet to receive all the assays from this yet, but we similar BAM style mineralization has been noted in a 1km step out
News inflow: There are approximately 50 drill assays pending, news should come regularly from now to mid-summer
@AM90 - yes you are right, and I am aware of our existing resource, my point was simply that one exceptional result on it's own doesn't make a gold mine, what matters is the results of lots of drill results and lots of finds across an area.
This exceptional result is certainly a good thing but a mine isn't going to get built on the back of this alone... it will merely add to the body of knowledge and help build a larger resource. There's no doubting though that it will prompt more drilling to try chase such grades and see how far they stretch.
Happyhaddock, you have to remember that Landore already have a 1 million oz gold resource, which is cheap to mine and already economically feasible. The current drilling campaign is expanding this resource. Essentially there already is a gold mine.
This new information of potentially high grade deposits at depth is just exceptionally good news, at these prices it is near completely de-risked.
This is amazing news for all the LTH's. Hopefully now we can start to see the re-rate that a lot of us having been asking for. Still the most undervalued junior miner on the AIM and will be for a while!
I too am shocked that this is not roaring on up through the 40's p off the back of that RNS.. just shows how off the radar this stock remains generally, alas.... hopefully, one way or other, people wake up to the extent of the resourcse here soon....
They think the two Bonanza intersected are linked?
'The presence of visible, Bonanza grade gold, combined with the similarity in geology and position, being 200 metres apart, both in a deformation zone, leads Landore to believe that there is a high possibility of continuity between, and continuing beyond, the above two bonanza occurrences.'
“Miners want large deposits of higher-grade ore because it makes their operations more efficient. Higher-grade deposits yield more gold while requiring less work. Discovering a deposit of bonanza-grade gold is rare and bodes well for the future of a junior miner.”