LONDON (Alliance News) - Landore Resources Ltd said Monday drilling at its Junior Lake property in Ontario, Canada, intersected a significant new gold zone.
The drilling, which was undertaken in December, intersected a wide zone of gold mineralisation close to the surface, including 31.29 meres at 1.12 grams per tonne in one drill hole, 0415-518. Higher grade intersections in the zone include 3.70 metres of 4.21 grams per tonne gold in drill-hole 0415-518.
Landore completed a follow-up drill programme in February 2016 consisting of 5 drill holes for a total of 54 metres, all of which intersected similar lithological units. Reports of this follow up programme are pending and will be reported when available, Landore said.
The company plans to carry out a trenching and channel sampling program at the new gold zone, and subject to positive results from its winter 2016 drill programme, further drilling will be planned to extend the new gold zone.
Shares in Landore were up 3.0% at 0.747 pence Monday morning.
By Hana Stewart-Smith; hanassmith@alliancenews.com; @HanaSSAllNews
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Landore (LND)