Landore Resources Limited Regulatory News (LND)

7 Mar 2006 07:00

Landore Resources Limited07 March 2006 7 March 2006 Landore Resources Limited WEST GRAHAM-FIRST NICKEL OPTION DRILLING REPORT First Nickel is carrying out exploration on Landore's West Graham property andthe following is an extract from their recently published results. March 6, 2006 - Toronto, Ontario - First Nickel Inc. (FNI-TSX) is pleased toreport assays for the first 9 holes, representing 2,654 metres of diamonddrilling, completed on the West Graham property. First Nickel entered into anoption/joint venture with Landore Resources Canada Inc. to acquire a 70%interest in the West Graham property which is strategically located immediatelyto the south of the East Zone of the Lockerby Mine. The West Graham propertycontains the historic Conwest Deposit, which represents the up-plunge extensionof First Nickel's Lockerby East Deposit. There is also felt to be significant potential for high grade footwall-typedeposits in the shadow of the Lockerby East-Conwest system on the West Grahamproperty given the identification of substantial amounts of Sudbury Breccia andanomalous platinum group metal values within the footwall stratigraphy. A resource estimate completed by the Conwest Exploration Company Limited in the1960's yielded 4.3 million tons at 0.52% nickel and 0.33% copper. This resourceshould be considered non-compliant with National Instrument 43-101. Broad zones of modest grade nickel sulphides, similar to those identified byConwest, were intersected in this program including a 42.7 metre (140.1 feet)core length grading 0.63% Ni and 0.32% Cu in hole FNI2006. Higher grade zonesthat assayed up to 3.22% Ni and 0.14% Cu over a 0.57 metre core length inFNI2006 and 1.24% Ni and 0.35% Cu over a 6.0 metre core length in FNI2007 arepresent within the broader zones of lower grade mineralization. These results,when coupled with the previously reported results from holes FNI2002 and FNI2003on January 26, 2006, indicate the potential to define a higher grade zone orzones within the currently outlined mineralized system. Drill Hole From (m) To (m) Drill Width Ni % Cu % m (ft) FNI2001 268.40 276.35 7.95 (26.1) 0.66 0.46 FNI2002 306.50 321.5 15.00 (49.2) 1.05 0.57 Incl.(a) 310.15 320.00 9.85 (32.3) 1.22 0.62 and 331.50 32.55 1.05 (3.44) 1.23 0.58 FNI2003 356.45 371.53 15.08 (49.5) 1.07 0.38 Incl.(a) 356.45 366.10 8.75 (28.7) 1.30 0.39 FNI2004 356.80 356.60 8.80 (28.9) 0.60 0.32 Incl. 362.4 363.8 1.40 (4.6) 1.00 0.22 FNI2005 186.40 192.60 6.20 (20.3) 0.54 0.32 FNI2006 144.40 188.00 42.70 (140.1) 0.63 0.36 Incl. 159.33 159.90 0.57 (1.87) 3.22 0.14 Incl. 166.40 167.60 2.26 (7.4) 1.30 0.36 FNI2007 107.30 121.55 14.25 (46.8) 0.90 0.33 Incl. 111.80 117.80 6.00 (19.7) 1.24 0.35 Incl. 116.00 116.50 0.5 (1.6) 3.16 0.20 And 133.10 134.60 1.50 (4.9) 1.11 0.31 FNI2008 88.50 130.70 40.80 (133.9) 0.55 0.30 Incl. 91.25 92.35 1.10 (3.6) 1.99 0.08 Incl. 98.80 99.85 1.05 (3.4) 2.08 0.88 FNI2009 101.50 131.25 29.75 (97.6) 0.60 0.29 Incl. 102.95 103.85 0.90 (2.95) 2.99 0.39 (a) - Previously reported analytical results. The Company will also be examining the possibility that this entire system couldrepresent a bulk tonnage underground mining situation given the 5% to 9% nickeltenors (ie nickel in 100% sulphides), which are present in this material. Thesetenors are very high by Sudbury standards for contact-type ores. That the Lockerby East and Conwest systems join along plunge is evidenced byintervening hole DEN10C, completed by Falconbridge Limited in the 1980's, thatintersected a 21.64 metre (71.0 feet) core length grading 1.13% Ni and 0.86% Cuwithin a broader zone of 51.21 metres (168 feet) core length grading 0.71% Niand 0.55% Cu. Significant assay results from DEN10C are summarized in thefollowing table. The area between the Lockerby East and Conwest zones has seenrelatively little drilling and represents a key exploration target for theCompany. Highlights: Falconbridge Limited Historic Exploration Drill Results: Drill Hole From (m) To (m) Drill Width Ni % Cu % m (ft) DEN10C 724.51 775.72 51.21 (168.0) 0.71 0.55 Incl. 754.08 775.72 21.64 (71.0) 1.13 0.86 And 827.99 899.77 71.78 (235.5) 0.67 0.63 Incl. 896.26 899.77 3.51 (11.5) 1.40 0.43 An exploration program is being developed to drill untested gradient IPanomalies along the contact to the northeast of the Conwest Deposit and to testthe underlying footwall rocks that cover approximately 75% of the West Grahamproperty. Six thousand metres of diamond drilling are scheduled for thisproperty in 2006. - ENDS - For more information please contact: Bill Humphries, Chairman Tel: 07734 681262Richard Prickett, Chief Executive Tel: 07775 651421Landore Resources Limited Simon RaggettStrand Partners Limited Tel: 020 7409 3494 David Bick Tel: 07831 381201 This information is provided by RNS The company news service from the London Stock Exchange