Landore Resources Limited Regulatory News (LND)

8 Dec 2005 07:00

Landore Resources Limited08 December 2005 LANDORE RESOURCES LIMITED ("Landore" or "the Company") JUNIOR LAKE DRILLING PROGRESS REPORT-VW ZONE. Additional drilling on the recent significant nickel discovery at KetchikanLake, toward the southeastern end of the Junior Lake property, Ontario Canada,has consistently intersected wide sulphide mineralization with early assayresults returning high grades of up to 1.37% nickel over 4 metres including 3.7%nickel over 0.7 metres. Following the highly encouraging results from the June drilling campaign, anadditional ten diamond drill NQ holes (0405-38 to 0405-47), for 3,875 metres,have been completed on the VW zone, Ketchikan Lake, to test the strike and dipextents over a strike length of 250 metres and vertical depths of approximately300 metres. Two of these holes tested AeroTEM airborne high-conductanceanomalies to the east and west of the VW zone. Mineralized intersections in the first three holes include: +------------------------+---------------+------------------+------------------+|Drill-hole | From | Width | Nickel |+------------------------+---------------+------------------+------------------+|No | Metres | Metres | % |+------------------------+---------------+------------------+------------------+|0405-38 | 58.4 | 21.5 | 0.34 |+------------------------+---------------+------------------+------------------+|Includes | | 4.4 | 0.52 || | | | |+------------------------+---------------+------------------+------------------+|0405-39 | 166.0 | 3.5 | 0.47 |+------------------------+---------------+------------------+------------------+|0405-40 | 39.3 | 5.3 | 0.41 |+------------------------+---------------+------------------+------------------+| | 83.5 | 14.0 | 0.37 |+------------------------+---------------+------------------+------------------+|Includes | | 4.3 | 0.62 |+------------------------+---------------+------------------+------------------+| | 129.0 | 11.8 | 0.28 |+------------------------+---------------+------------------+------------------+| | 171.0 | 8.0 | 0.31 |+------------------------+---------------+------------------+------------------+|Includes | | 1.5 | 0.70 |+------------------------+---------------+------------------+------------------+| | 184.5 | 1.9 | 0.53 |+------------------------+---------------+------------------+------------------+| | 225.5 | 40.1 | 0.44 |+------------------------+---------------+------------------+------------------+|Includes | | 4.0 | 1.37 |+------------------------+---------------+------------------+------------------+|which includes | | 0.7 | 3.70 |+------------------------+---------------+------------------+------------------+|Includes | | 3.9 | 0.86 |+------------------------+---------------+------------------+------------------+|Includes | | 2.6 | 1.24 |+------------------------+---------------+------------------+------------------+ (All holes were inclined at -45degrees,) Assays received from the first three holes have returned highly promisingresults, the best being from hole 0405-40, drilled 75 metres to the west of hole0405-36, which intersected 0.44% nickel over 40.1 metres including three highgrade intervals of 1.37% nickel over 4.0 metres, 0.86% nickel over 3.9 metresand 1.24% nickel over 2.6 metres. Assays for the remaining seven holes are pending and will be reported whenreceived. Roscoe Postle Associates Inc. has been engaged to review the historical resourceestimate at Landore's Ni-Cu-PGE massive sulphide deposit ('B4-7' zone with ahistorical estimate of 2.3 million tons at 0.87% Ni and 0.58% Cu, InternationalMogul Mines, 1969) to determine the potential of bringing this resource up tostandards of National Instrument 43-101. Roscoe Postle will also evaluateresults from the VW zone in order to model the mineralized horizons within thiszone. Lamaune Lake property (51%) Landore has given notice that it intends to increase its interest to 80% byexpending a further $C 500,000 on exploration over the next three years. LamauneLake abuts the Junior Lake property to the west and contains the highlyprospective Carrot Top zone which returned grades of up to 0.45% nickel and upto 0.64% copper. Further Drilling The two drilling campaigns completed in May/June and October/November of thisyear on the Junior Lake and Lamaune Lake properties have successfully identifiednumerous nickel occurrences including the significant discovery at the VW zoneand the highly prospective New, PQ and Carrot Top zones. Results from these campaigns are currently being collated and analyzed tofacilitate the planning of a substantial drilling programme (plus 10,000metres), scheduled to commence in March 2006, to be carried out on the abovetargets. Landore is fully funded to carry out the proposed drill programme. 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