Landore Resources Limited Regulatory News (LND)

3 Apr 2007 07:01

Landore Resources Limited03 April 2007 LANDORE RESOURCES LIMITED (AIM Ticker: LND.L) WEST GRAHAM-FIRST NICKEL OPTION DRILLING REPORT First Nickel Inc. ("First Nickel") has entered into an option agreement withLandore Resources Canada Inc. to acquire a 70 per cent. interest in the WestGraham property which is strategically located immediately to the south of theEast Zone of the Lockerby Mine within the Sudbury basin. First Nickel is carrying out exploration on Landore's West Graham property andin December 2006 completed its second drilling programme. The following is anextract from their recently published results: "April 2 2007 - Toronto, Ontario - First Nickel Inc. (FNI - TSX) is pleased toreport the results of 21 diamond drill holes representing 9,731 metres ofdiamond drilling on the West Graham Property during the 2006 explorationprogram. First Nickel's exploration program was successful in discovering "no seeum" orlow sulphide type platinum group element (PGE) mineralization, hosted in thefootwall granites stratigraphically below the Conwest Deposit and associatedwith a Subury breccia and less than 5% sulphides. FNI2020, drilled sub parallelto the Sudbury Igneous Complex (SIC) contact in the footwall of the ConwestDeposit, intersected several zones of elevated PGE mineralization including 1.35metres of 1.82 gpt Pt, 1.17 gpt Pd and 0.77 gpt Au and 0.57 metres of 2.7 gptPt, 1.93 gpt Pd and 0.13 gpt Au. All assay intervals reported are core lengthand do not represent true widths (defined as being measured at right angles tothe direction of extension of the sulphide body). This low sulphide, PGE zone represents a new mineralization style not previouslyrecognized on the West Graham Property. Limited exploration has been focused onfootwall-hosted mineralization on the West Graham property and the discovery ofthis new zone of "noseeum" style PGE mineralization emphasizes the potential ofthe West Graham property to host additional footwall zones. Surface mapping hasidentified Sudbury breccia extending several hundred metres into the footwallgranites that will require further follow-up exploration. First Nickel was also successful in extending the disseminated sulphide zoneassociated with the Conwest Deposit approximately 125 metres to the east of thepreviously interpreted edge. Several holes intersected significant widths ofdisseminated nickel-copper mineralization, including hole FNI2028 thatintersected 71.50 metres of 0.51% Ni and 0.34% Cu including 4.80 metres of 1.04%Ni and 0.31% Cu, and FNI2016 that intersected 19.05 metres of 0.52% Ni and 0.48%Cu. The reconnaissance drill hole program was designed to test the SIC contact on 50metres by 150 metres centres to the east of the Conwest Deposit.The 2006 exploration program has confirmed the presence of a large mineralizedsystem associated with the SIC. The Conwest deposit has been interpreted as theup-plunge extension of the Lockerby East system. Although dominated by lowergrade mineralization, the West graham Property remains of considerable interestto First Nickel given the high nickel tenors associated with the sulphidemineralization (on average greater than 6% Ni in 100% sulphide), and thefootwall potential of the granites to the south of the Conwest Deposit and theLockerby East Zone. +---------+--------+--------+--------+------+------+-------+------+------+------+-------+|Hole |From |To |Length |Ni |Cu |Co |Au |Pt |Pd |Ag |+---------+--------+--------+--------+------+------+-------+------+------+------+-------+| Metres | % | % | % |ppm |ppm |ppm |Gpt |+---------+--------+--------+--------+------+------+-------+------+------+------+-------+|FNI2010 |450.00 |451.10 | 1.10 |1.79 |0.20 |0.040 |0.05 |0.46 |0.08 | 1.00 |+---------+--------+--------+--------+------+------+-------+------+------+------+-------+|FNI2011 |425.95 |426.45 | 0.50 |1.59 |0.07 |0.030 |0.01 |0.34 |0.09 | 0.70 |+---------+--------+--------+--------+------+------+-------+------+------+------+-------+|FNI2012 |297.90 |309.10 | 11.20 |0.43 |0.36 |0.016 |0.04 |0.08 |0.03 | 1.78 |+---------+--------+--------+--------+------+------+-------+------+------+------+-------+|and |374.20 |374.30 | 0.10 |0.12 |2.20 |0.001 |1.63 |0.01 |0.03 |13.30 |+---------+--------+--------+--------+------+------+-------+------+------+------+-------+|FNI2013 |448.10 |453.80 | 5.70 |0.45 |0.63 |0.015 |0.07 |0.40 |0.11 | 2.60 |+---------+--------+--------+--------+------+------+-------+------+------+------+-------+|and |460.60 |465.20 | 4.60 |0.93 |0.61 |0.027 |0.14 |0.18 |0.09 | 2.35 |+---------+--------+--------+--------+------+------+-------+------+------+------+-------+|Incl. |460.60 |461.30 | 0.70 |1.98 |0.41 |0.060 |0.15 |0.06 |0.18 | 1.60 |+---------+--------+--------+--------+------+------+-------+------+------+------+-------+|FNI2015 |378.30 |379.60 | 1.30 |1.39 |0.65 |0.040 |0.09 |0.17 |0.37 | 3.40 |+---------+--------+--------+--------+------+------+-------+------+------+------+-------+|FNI2016 |430.80 |449.85 | 19.05 |0.52 |0.48 |0.019 |0.05 |0.09 |0.03 | 2.23 |+---------+--------+--------+--------+------+------+-------+------+------+------+-------+|Incl. |447.25 |447.60 | 0.35 |3.77 |0.36 |0.090 |0.01 |0.36 |0.04 | 2.70 |+---------+--------+--------+--------+------+------+-------+------+------+------+-------+|FNI2020 |663.60 |664.95 | 1.35 |0.18 |0.14 |0.001 |0.77 |1.82 |1.17 | 3.31 |+---------+--------+--------+--------+------+------+-------+------+------+------+-------+| |673.70 |674.00 | 0.30 |0.08 |0.04 |0.001 |0.24 |1.05 |0.56 | 0.70 |+---------+--------+--------+--------+------+------+-------+------+------+------+-------+| |675.43 |676.00 | 0.57 |0.21 |0.07 |0.001 |0.13 |2.70 |1.93 | 2.10 |+---------+--------+--------+--------+------+------+-------+------+------+------+-------+| |683.95 |684.90 | 0.95 |0.06 |0.00 |0.001 |0.04 |1.00 |0.69 | 1.00 |+---------+--------+--------+--------+------+------+-------+------+------+------+-------+| |733.30 |736.20 | 2.90 |0.38 |0.45 |0.005 |0.26 |0.64 |0.37 | 4.94 |+---------+--------+--------+--------+------+------+-------+------+------+------+-------+|FNI2028 |163.00 |234.50 | 71.50 |0.51 |0.34 |0.018 |0.02 |0.06 |0.02 | 1.70 |+---------+--------+--------+--------+------+------+-------+------+------+------+-------+|Incl. |189.00 |203.30 | 14.30 |0.83 |0.44 |0.029 |0.02 |0.07 |0.03 | 1.85 |+---------+--------+--------+--------+------+------+-------+------+------+------+-------+|Incl. |189.00 |189.70 | 0.70 |2.29 |0.93 |0.080 |0.02 |0.06 |0.06 | 4.00 |+---------+--------+--------+--------+------+------+-------+------+------+------+-------+|Incl. |198.50 |203.30 | 4.80 |1.04 |0.31 |0.033 |0.02 |0.07 |0.03 | 1.29 |+---------+--------+--------+--------+------+------+-------+------+------+------+-------+|FNI2029 |157.70 |169.70 | 12.00 |0.51 |0.31 |0.023 |0.02 |0.06 |0.02 | 1.53 |+---------+--------+--------+--------+------+------+-------+------+------+------+-------+Significant Drill Intercepts in the 2006 West Graham Diamond Drill Hole Programs A $900,000 exploration program has been proposed for the West Graham Property in2007. The exploration program will consist primarily of diamond drilling withassociated borehole geophysics and may include a component of surface strippingand trenching." - 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