100% Owned by Landore4 Apr 2016 15:15
Thats good...
LANDORE RESOURCES LIMITED
(AIM Ticker: LND.L)
SIGNIFICANT GOLD DISCOVERY
JUNIOR LAKE PROPERTY
London, United Kingdom - April 4th 2016 - Landore Resources Limited (AIM:LND) ("Landore Resources" or "the Company") is pleased to report on a significant gold discovery on its Junior Lake Property, Ontario, Canada.
Highlights:
· SIGNIFICANT GOLD DISCOVERY: Follow up drilling on the BAM East Gold Prospect, reported March 14 2016, has established the presence of a significant gold discovery. The gold mineralisation remains open along strike to the east and west and down dip.
· IMPROVING WITH DEPTH: Drill hole 0416-519 intersected a wide gold mineralised zone of 40.75m at 1.82 grams/tonne (g/t) gold with two high grade intersections of 2.25m at 10.28g/t and 3.00m at 5.74g/t indicating that the mineralisation could be coalescing with depth.
· NEAR SURFACE: The +30 metres wide gold mineralisation, close to surface, has potential for the initial development to be progressed as a low cost, bulk tonnage, open pit operation.
Commenting on this report, Chief Executive Officer of Landore Resources, Bill Humphries, said:
"The highly prospective, relatively unexplored, greenstone belt which traverses Landore's flagship Junior Lake Property for over 30 kilometres east to west, continues to yield exciting new mineral discoveries. The BAM East Gold Prospect discovery has validated our exploration team's perseverance and dedication.
In addition, the discovery of this significant gold prospect just two kilometres to the east of our B4-7 Nickel-Copper deposit and one kilometre northwest of our VW Nickel deposit could provide a classic "two plus two equals five" bonus for Landore, with the obvious substantial cost saving synergies to be gained during their future development and operation."
The Junior Lake property:
The Junior Lake property, 100% owned by Landore Resources, is located in the province of Ontario, Canada, approximately 235 kilometres north-northeast of Thunder Bay, and is host to; the B4-7 Nickel-Copper-Cobalt-PGEs resource plus the Exploration Target and the Alpha Zone, the VW Nickel resource and numerous other highly prospective mineral occurrences including the BAM gold zone and the newly discovered BAM East Gold Prospect.
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