Landore Resources Limited Regulatory News (LND)

5 Jun 2007 07:01

Landore Resources Limited05 June 2007 LANDORE RESOURCES LIMITED (AIM Ticker: LND.L) DRILLING UPDATE JUNIOR LAKE-NICKEL PROJECT Drilling on the VW Zone Nickel Project continues to intersect wide zones ofnickel sulphide mineralization, extending the existing zone down dip, includingdrill hole 0407-101 reporting an interval of 6 metres at 1.13% nickel, and alongstrike to the west, which includes drill hole 0407-109 reporting an interval of12 metres at 1.02% nickel. Drilling is intersecting multiple zones of resource grade nickel mineralization,with hole 0407-102 intersecting zones totalling an approximate true width of 51metres at an average grade of 0.38% nickel across the 150 metre wide VW Zonecorridor. Mineralized intersections in the first 9 holes include:+------------------+------------------+-------------------+--------------------+| Drill-hole | From | Width | Nickel |+------------------+------------------+-------------------+--------------------+| No | Metres | Metres | % |+------------------+------------------+-------------------+--------------------+|0407-99 | 74.0 | 11.4 | 0.56 || | | | |+------------------+------------------+-------------------+--------------------+| includes | 81.0 | 1.0 | 1.23 |+------------------+------------------+-------------------+--------------------+| | | | |+------------------+------------------+-------------------+--------------------+| 0407-101 | 110.0 | 4.0 | 0.47 |+------------------+------------------+-------------------+--------------------+| | 197.0 | 4.1 | 0.47 |+------------------+------------------+-------------------+--------------------+| | 302.0 | 6.0 | 1.13 |+------------------+------------------+-------------------+--------------------+| includes | 305.0 | 1.0 | 2.16 |+------------------+------------------+-------------------+--------------------+| | 330.0 | 4.0 | 0.69 |+------------------+------------------+-------------------+--------------------+| includes | 333.0 | 1.0 | 1.98 |+------------------+------------------+-------------------+--------------------+| | | | |+------------------+------------------+-------------------+--------------------+| 0407-104 | 105.0 | 3.0 | 0.59 |+------------------+------------------+-------------------+--------------------+| | 114.0 | 15.0 | 0.30 |+------------------+------------------+-------------------+--------------------+| | | | |+------------------+------------------+-------------------+--------------------+| 0407-105 | 233.0 | 3.0 | 0.85 |+------------------+------------------+-------------------+--------------------+| | | | |+------------------+------------------+-------------------+--------------------+| 0407-106 | 161.0 | 5.0 | 0.59 |+------------------+------------------+-------------------+--------------------+| | 220.0 | 18.0 | 0.40 |+------------------+------------------+-------------------+--------------------+|includes | 221.0 | 3.0 | 0.77 |+------------------+------------------+-------------------+--------------------+| | | | |+------------------+------------------+-------------------+--------------------+|0407-109 | 103.0 | 1.1 | 1.11 |+------------------+------------------+-------------------+--------------------+| | 119.0 | 12.0 | 1.02 |+------------------+------------------+-------------------+--------------------+|includes | 122.0 | 2.7 | 2.00 |+------------------+------------------+-------------------+--------------------+| | 135.0 | 6.0 | 0.52 |+------------------+------------------+-------------------+--------------------+|includes | 139.0 | 2.0 | 0.93 |+------------------+------------------+-------------------+--------------------+ The Junior Lake properties are located in the province of Ontario, Canada,approximately 235 kilometres north-northeast of Thunder Bay and are situatedwithin the Caribou-O-Sullivan Greenstone Belt in the Wabigoon Subprovince. The VW Zone Nickel Project is located at Ketchikan Lake toward the south easternend of the Junior Lake property. Following the successful 2006 drilling campaign on the VW Zone, Scott WilsonRoscoe Postle Associates Inc. (Scott Wilson RPA), Toronto, was retained byLandore to independently carry out a resource estimate for the VW zone and toprepare a National Instrument 43-101 compliant technical report, which wasreported on the 19th February 2007. VW Zone Inferred Resource at 0.2% Nickel Cut-Off Grade,Tonnes Ni% Cu% Nickel Tonnes Copper Tonnes 4,202,776 0.34 0.05 14,300 2,100 Scott Wilson RPA recommended that additional exploration drilling be undertakento expand the resources to depth, particularly on the northern side of the VWdeposit where the sub-zones are tested to shallower depths compared to thesoutherly sub-zones. Similarly further drilling should be carried out on thewest side, following which the VW Zone modeling and resource estimate should beupdated. Diamond drilling resumed on the VW Zone in mid-April with 2 drill rigs. Acampaign of 60 holes for approximately 13,000 metres is underway, with one rigdedicated to extending the existing inferred resource along strike in bothdirections and down dip, with the second rig carrying out infill drilling toadvance the resource to 'Indicated' status, a requirement for 'scoping' and orpre-feasibility studies. To date, 20 holes (0407-99 to 0407-119), for 4,723 metres, have been completed.Results are pending for 11 of those holes. 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. Additional drilling is also planned for further metallurgical studies as well asgeotechnical testing on the VW Zone. Further releases will be made during the summer period as drilling continues. 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