(Alliance News) - Landore Resources Ltd announced on Thursday it has completed its drilling and exploration programme in Ontario, Canada.
The mining company said the work was carried out on the Felix-Laumaune prospects at its 100%-owned Junior Lake property, completing the drilling of 21 holes on the Felix area and 11 at Lamaune.
Assay results are yet to be published, but Landore noted drill hole 0422-85 intersected significant palladium-enriched nickel mineralisation. It also said it found up to 0.51 gram of platinum per tonne.
The intersection extends its Grassy Pond prospect, which was discovered in 2008, for a further 250 metres along strike to the east from drill hole 1108-30.
"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," said Chief Executive Officer Bill Humphries.
Shares in Landore were down 15% to 14.20 pence in London on Thursday afternoon.
By Greg Rosenvinge; gregrosenvinge@alliancenews.com
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Landore (LND)