Landore Resources Limited Regulatory News (LND)

29 Nov 2007 07:00

Landore Resources Limited29 November 2007 LANDORE RESOURCES LIMITED (AIM Ticker: LND.L) DRILLING RESULTS AND PROGRESS REPORT JUNIOR LAKE-NICKEL PROJECT HIGHLIGHTS * Scott Wilson Roscoe Postle Associates Inc. (Scott Wilson RPA), consulting and engineering group from Toronto, Canada, have commenced work on a Canadian National Instrument 43-101 (NI43-101) compliant resource estimate upgrade on the VW Nickel Project located on the Junior Lake Property. * Drilling on the VW Nickel deposit regularly intersected multiple zones of resource grade nickel mineralization, with assay results frequently returning grades in excess of 1% nickel. Mineralized intersections not previously reported include:+-----------+---------+----------+----------+|Drill-hole | From| Width| Nickel|+-----------+---------+----------+----------+|No | Metres| Metres| %|+-----------+---------+----------+----------+|0407-145 | 199.0| 8.0| 0.75|+-----------+---------+----------+----------+|Includes | 201.0| 1.0| 1.15|+-----------+---------+----------+----------+|0407-149 | 198.0| 13.9| 0.66|+-----------+---------+----------+----------+|Includes | 204.0| 2.0| 1.28|+-----------+---------+----------+----------+|0407-150 | 56.0| 5.9| 0.82|+-----------+---------+----------+----------+|Includes | 56.0| 1.0| 1.58|+-----------+---------+----------+----------+|0407-151b | 279.0| 5.3| 1.12|+-----------+---------+----------+----------+|0407-155 | 248.0| 1.3| 1.22|+-----------+---------+----------+----------+|0407-156 | 312.0| 5.0| 0.96|+-----------+---------+----------+----------+|Includes | 312.0| 1.0| 1.79|+-----------+---------+----------+----------+|0407-159 | 110.0| 4.0| 0.62|+-----------+---------+----------+----------+|Includes | 113.0| 1.0| 1.38|+-----------+---------+----------+----------+|0407-160 | 222.6| 6.5| 0.56|+-----------+---------+----------+----------+|And | 246.0| 15.4| 0.50|+-----------+---------+----------+----------+|Includes | 257.0| 1.0| 2.35|+-----------+---------+----------+----------+|And | 271.5| 12.0| 0.67|+-----------+---------+----------+----------+|Includes | 277.0| 1.0| 1.52|+-----------+---------+----------+----------+|0407-161 | 16.1| 4.9| 1.20|+-----------+---------+----------+----------+|Includes | 20.0| 1.0| 2.21|+-----------+---------+----------+----------+ Commenting on the drilling, Chairman of Landore Resources, Bill Humphries, said: "These excellent results are expected to significantly expand the VW Nickelresource estimate completed by Scott Wilson RPA earlier this year. In additionthe deposit remains open to the east and west along strike giving confidence forfurther resource expansion." The Junior Lake property. The Junior Lake property is located in the province of Ontario, Canada,approximately 235 kilometres north-northeast of Thunder Bay and is situatedwithin the Caribou-O-Sullivan Greenstone Belt in the Wabigoon Subprovince. TheVW Nickel Deposit is located at Ketchikan Lake toward the south eastern end ofthe Junior Lake property and the B4-7 Deposit is located approximately 3kilometres to the north-west of the VW Deposit. VW Nickel Deposit. An infill and extension drill programme, consisting of 63 NQ size holes (0407-99to 0407-161,178) for a total of 17,361 metres, has been completed on the VWNickel Deposit. Drilling has now tested the VW deposit at approximately 25 x 50metre spacing over a strike length of 500 metres and to a vertical depth of 300metres. All base metal assays have been received and nickel values continue to reflectintersections of sulphide mineralization noted in drill core with grades oftenexceeding 1% nickel. Good continuity is evident within the Katrina Horizon whichis now traceable along 500 metres of the VW deposit drill tested to date and thezone remains open to the east and west along strike and at depth. Since thestrike length of the deposit was extended with an improvement in nickel grades,the results of the drill program are expected to significantly expand theprevious resource estimate completed by Scott Wilson RPA. A unit of extensively altered, variably textured and well-mineralized variety ofmafic volcanics was recently recognized within the Katrina Horizon toward thewest end of the deposit. This unit has a true thickness varying from 20 to 70metres (DDH 0407-102, line 3050E) and to date has been traced over a strikelength of 100 metres with a vertical extent of about 100 metres, from 25 to 135metres depth. The unit appears to plunge steeply to the west at 45-50 degreesand currently remains open at depth. An ultramafic succession exemplified by talc schists and peridotitic rock typesat the west end and north of the VW deposit has also been found to bemineralised with pyrrhotite and pentlandite. Nickel assays of 0.2% to 0.3% werereturned over an intersection of several metres at shallow depths (DDH0407-151b). Mineralisation of this grade within ultramafic rocks is a newdiscovery and the extent and exploration potential is unknown. Petrographicstudies and additional sampling of this unit will be completed to evaluate thesignificance of this discovery. Scott Wilson RPA have commenced work on a NI43-101 compliant resource estimateupgrade on the VW Nickel Project. B4-7 Nickel-Copper Deposit. A drill programme, consisting of 16 NQ size holes (0407-162 to 0407-177) for atotal of 3,575 metres, has been completed on the B4-7 Nickel-Copper Deposit. Theprogramme was designed to infill the remaining gaps in the deposit, to test thecontinuity of the hanging wall mineralization and for additional metallurgicaltesting. Core logging and sampling of the core continues. Final assay results areexpected by late December at which stage they will be collated and forwarded toScott Wilson RPA, Toronto, to independently prepare a NI43-101 resource estimateand report on the B4-7 Nickel-Copper Project All drill core was photographed prior to being cut for assaying. Samples wereanalyzed at Accurassay Laboratories (ISO/IEC 17025), Thunder Bay, Ontario, bygeochemical analysis with atomic absorption finish (Ni). All samples reportingresults of 1% nickel or higher were re-analysed by the assay method with atomicabsorption finish. Check assays, standards and laboratory duplicates wereperformed on a systematic basis at Accurassay Laboratories. ALS ChemexLaboratory in Vancouver, BC also completed systematic checks. Core is stored atsite and in Landore's facilities in Thunder Bay, Ontario. Rejects are stored atAccurassay Laboratories and in Landore's facilities in Thunder Bay. Junior Lake Claim Staking During October Landore staked and recorded 3 new claims to the southeast of andcontiguous to the Junior Lake property. The new claims were staked as a direct result of the positive advancement the VWzone nickel deposit and the good potential for the discovery of additional baseand precious metal mineralization along strike within this geological setting inthe East-Central Caribou Lake greenstone belt. The Junior Lake property now consists of 71 unpatented claims (774 unitscovering 12,384 hectares) plus 2 leases (52.97 hectare) totalling 12,437hectares. Further releases will be made as results become available. James Garber, (BSc. Hons. Geology, member of APGO) a Director of LandoreResources Ltd and a qualified person as defined in the Canadian NationalInstrument 43-101, has reviewed and verified all scientific or technical miningdisclosure contained in this announcement, which is stated in accordance withthe Canadian Institute of Mining Metallurgy and Petroleum. - ENDS - For more information please contact: Bill Humphries, Chairman Tel: 07734 681262 Richard Prickett, Chief Executive Tel: 07775 651421 Landore Resources Limited www.landore.com Simon Raggett Tel: 020 7409 3494 Strand Partners Limited David Bick Tel: 07831 381201 This information is provided by RNS The company news service from the London Stock Exchange