LONDON (Alliance News) - Landore Resources Ltd said Monday that it has identified a significant gold mineralised zone 400 metres along strike to the west of the BAM Gold Deposit, on its Junior Lake Property in Ontario, Canada.
The recently completed summer drilling campaign of 12,673 metres drilled has successfully widespread gold mineralisation of similar widths to the existing BAM Gold Deposit with multiple instances of visible gold.
The results of the drilling campaign will be included into an updated mineral resource estimate which is expected to be completed in the fourth quarter of 2018. The resource will be put together with metallurgical and geotechnical studies, it will be incorporated into a preliminary economic assessment due for completion in the first quarter of 2019.
"This summer's drilling campaign has successfully identified additional wide spread gold mineralisation along strike from the existing BAM Gold Deposit, all potentially mineable by low cost open pit operations. Both the new zone and the existing BAM Gold Deposit are within structurally controlled westward plunging lenses. Such repetition bodes well for future discoveries along the 31 kilometre shear structure traversing our property," said Chief Executive Officer Bill Humphries.
Shares in Landore Resources were up 2.9% at 1.52 pence on Monday.
Landore (LND)