Landore Resources Limited Regulatory News (LND)

25 Mar 2008 13:00

Landore Resources Limited25 March 2008 LANDORE RESOURCES LIMITED (AIM Ticker: LND.L) WEST GRAHAM-FIRST NICKEL OPTION DRILLING UPDATE First Nickel is carrying out exploration on Landore's West Graham property andthe following is an extract from their recently published results. -BEGINS- FIRST NICKEL INTERSECTS 86.70 METRES OF 0.55% NI AND 0.43% CU ON WEST GRAHAM March 25, 2008 - Toronto, Ontario - First Nickel Inc. (FNI-TSX) is pleased toreport the results of 22 diamond drill holes representing 5,469 metres ofdiamond drilling on the West Graham Property during the 2007 exploration programand the first two holes of the 2008 exploration program (see the attached planmap for drill hole locations). The West Graham property is under option fromLandore Resources Canada Inc. and the details of the option agreement wereprovided in a press release dated August 4, 2005. The current drill program has been designed to provide the drill densityrequired to complete an NI 43-101 compliant Resource Estimate on the ConwestDeposit (which forms part of the West Graham Property) in 2008. The drillprogram has been expanded to a total of 10,000 metres based on the results todate and is scheduled for completion in June 2008. The new NI 43-101 ResourceEstimate will be completed after all analytical results have been received andmodeled for 2007-2008 drill program. Results to date have met expectations based on the previous exploration programscompleted by First Nickel. Highlights of the drill program include FNI2045 with0.59% Ni and 0.44% Cu over 70.20 metres, including 1.14% Ni and 0.60% Cu over10.50 metres; and FNI2050 with 0.55% Ni and 0.43% Cu over 86.70 metres,including 1.15% Ni and 0.71% Cu over 12.70 metres. The following tablesummarizes the significant analytical results from the ongoing drill program. The Conwest Deposit was estimated in the 1960's to have a mineral inventory of4.3 million tons grading 0.53% nickel and 0.33% copper. This historic resourcepredates the implementation of NI 43-101 standards and guidelines and should beconsidered non-compliant. At depth the Conwest Deposit is interpreted to becontiguous with the Lockerby East zone. The diamond drilling program is being carried out under the supervision of FirstNickel's Senior Geologist, Scot Halladay, P.Geo., a "qualified person" asdefined by National Instrument 43-101. The information in this release wasprepared under the direction of Paul Davis, P.Geo., Vice President ofExploration for First Nickel Inc., a "qualified person" as defined by NationalInstrument 43-101. First Nickel Inc. follows a rigorous QA/QC protocol on all ofits exploration projects. Drill core of interest (NQ size) is sawn in half, withone half retained for future reference and one half sent to a commerciallaboratory, SGS Laboratories in Garson for preparation and specific gravitymeasurements and shipped internally by SGS to Toronto for assay. A rigorousquality assurance/quality control program is employed which includes theinsertion of standards and blanks for each batch of samples. Drill From To Length Ni Cu Co Pt Pd Au Ag Hole ID (m) (m) (m) (%) (%) (%) (ppm) (ppm) (ppm) (ppm) FNI2031 396.00 450.00 54.00 0.59 0.39 0.02 0.17 0.03 0.06 3.18 FNI2032 45.00 71.15 26.15 0.41 0.21 0.01 0.09 0.03 0.04 2.13 FNI2034 103.50 114.00 10.50 0.46 0.31 0.01 0.06 0.03 0.03 2.47 FNI2035 108.00 114.00 36.50 0.61 0.34 0.02 0.07 0.03 0.03 3.46 incl. 124.70 131.80 7.10 1.16 0.50 0.04 0.08 0.04 0.03 3.65 FNI2039 96.00 159.00 63.00 0.40 0.24 0.01 0.07 0.03 0.03 2.27 FNI2040 139.50 148.50 9.00 0.43 0.35 0.02 0.06 0.02 0.03 4.38 FNI2041 118.50 180.00 61.50 0.46 0.35 0.01 0.06 0.03 0.02 2.69 incl. 168.00 177.00 9.00 1.03 0.53 0.03 0.11 0.04 0.03 4.69 FNI2043 138.30 201.00 62.70 0.39 0.32 0.01 0.08 0.02 0.03 3.18 FNI2044 153.10 207.15 54.05 0.45 0.25 0.01 0.06 0.03 0.04 2.83 incl 192.90 195.15 2.25 1.76 0.30 0.05 0.06 0.08 0.03 3.55 FNI2045 239.90 310.10 70.20 0.59 0.44 0.01 0.12 0.03 0.05 5.92 incl. 279.00 289.50 10.50 1.14 0.60 0.03 0.13 0.05 0.06 4.44 FNI2046 246.90 333.00 86.10 0.45 0.28 0.01 0.11 0.03 0.03 3.29 incl. 294.85 295.55 0.70 5.81 0.10 0.12 0.10 0.04 0.00 4.62 FNI2047 330.00 339.00 9.00 0.70 0.58 0.03 0.22 0.04 0.09 4.93 FNI2048 233.00 246.50 13.50 0.49 0.32 0.02 0.22 0.04 0.05 2.89 FNI2049 237.70 259.20 21.50 0.40 0.26 0.01 0.07 0.03 0.03 3.20 FNI2050 280.90 367.60 86.70 0.55 0.43 0.02 0.14 0.03 0.05 4.75 incl. 316.70 329.40 12.70 1.15 0.71 0.04 0.15 0.05 0.05 5.74 All assay intervals reported are core length and do not represent true widths(defined as being measured at right angles to the direction of extension of thesulphide body). All other assay samples are pending analysis. First Nickel is a Canadian mining and exploration company. Its currentactivities are primarily focused on the Sudbury Basin in northern Ontario, thelocation of the company's producing property (the Lockerby Mine) and four of itsexploration properties. First Nickel also has two exploration properties in theTimmins region of northern Ontario. First Nickel's shares are traded on the TSXunder the symbol FNI. - 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