LONDON (Alliance News) - Landore Resources Ltd Monday said a recently completed B4-7 East area of the Junior Lake nickel-copper property in Ontario, Canada intersected a significant copper/gold mineralised structure.
In a statement, the company said the mineralised structure extends eastwards from the B4-7 nickel-copper-cobalt-PGEs deposit for 1,000 metres to line 1600E, with a further 500 metres potential strike length indicated by historical drill hole S-5 on line 2100E with 0.21 metres at 8.97% copper, giving an overall potential strike extension of 3.0 kilometres. PGEs are platinum group elements.
The drilling also intersected elevated polymetallic mineralisation on line 1200E with drill-hole 0414-485 returning 5 metres at 0.25% nickel, 0.33% copper, 0.01% cobalt, 497 parts per billion palladium, 100parts per billion platinum, and 48 parts per billion gold from 61 metres down-hole, the company said.
Landore said the results of the preliminary drill programme are being collated to determine what additional works are required to interpret the geological and mineralogical trends of the highly prospective B4-7 East Zone. A drill programme will be designed to follow up on these promising areas upon completion, the company added.
The preliminary drill programme consisted of 16 drill holes for 4,201 metres.
Results are pending for drill-hole 0414-492 and will be reported when received, Landore said.
In addition, a second 4,000 metre drill programme has begun, according to Landore. The company said the second programme is designed to test prospective targets identified in the VW West and BAM East areas by the December 2013 ground Electromagnetic (MaxMin), VLF and Magnetic geophysical surveys, as well as the January 2014 3D DCIP + MT ground geophysical survey.
Landore Resources shares were down 3.4% at 3.02p Monday mornng.
By Samuel Agini; samagini@alliancenews.com; @samuelagini
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Landore (LND)