Landore Regulatory News (LND)

7 Feb 2006 07:00

Landore Resources Limited07 February 2006 LANDORE RESOURCES LIMITED ("Landore") PROGRESS REPORT JUNIOR LAKE DRILLING REPORT The remaining results from the drilling campaign, completed in December on therecently discovered VW nickel zone located at the southeastern end of the JuniorLake property, Ontario, Canada, have confirmed the continuation of extensivesulphide mineralisation, containing significant nickel values, to the east andwest of the high grade discovery holes (0405-35 to 40 with grades of up to 3.7%nickel). In addition there are several narrow intersections within the nickelmineralisation reporting high-grade copper grades of up to 1.18% and gold gradesof up to 0.68g/t. Mineralized intersections in the VW zone not previously reported include: +----------------+-----------+---------------+---------------+---------------+|Drill-hole |From |Width |Nickel |Copper |+----------------+-----------+---------------+---------------+---------------+|No |Metres |Metres | % | % |+----------------+-----------+---------------+---------------+---------------+|0405-38 | 216.2 | 2.5 | 0.40 | 0.04 |+----------------+-----------+---------------+---------------+---------------+|Includes | | 0.4 | 1.01 | 0.16 |+----------------+-----------+---------------+---------------+---------------+|0405-41 | 82.1 | 4.0 | 0.43 | 0.04 |+----------------+-----------+---------------+---------------+---------------+| | 199.6 | 3.2 | 0.44 | 0.05 |+----------------+-----------+---------------+---------------+---------------+|0405-42 | 199.5 | 6.0 | 0.39 | 0.04 |+----------------+-----------+---------------+---------------+---------------+|0405.43 | 144.0 | 0.4 | 0.12 | 1.16 |+----------------+-----------+---------------+---------------+---------------+| | 153.0 | 2.8 | 0.47 | 0.12 |+----------------+-----------+---------------+---------------+---------------+| | 223.5 | 12.5 | 0.39 | 0.02 |+----------------+-----------+---------------+---------------+---------------+| | 264.0 | 1.5 | 0.41 | 0.02 |+----------------+-----------+---------------+---------------+---------------+| | 277.5 | 1.8 | 0.40 | 0.05 |+----------------+-----------+---------------+---------------+---------------+|0405.46 | 188.4 | 3.6 | 0.46 | 0.03 |+----------------+-----------+---------------+---------------+---------------+| | 277.8 | 0.2 | 0.09 | 1.18 |+----------------+-----------+---------------+---------------+---------------+| | 378.0 | 3.0 | 0.43 | 0.07 |+----------------+-----------+---------------+---------------+---------------+ (All holes were inclined at -45degrees) All drill core was photographed prior to being cut for assaying. Samples wereanalyzed at Accurassay Laboratories, Thunder Bay, Ontario, by geochemicalanalysis with atomic absorption finish (Ni). All samples reporting results of 1%nickel or higher were re-analysed by the assay method with atomic absorptionfinish. Twenty-nine element ICP analyses were completed on each sample. Checkassays, standards and laboratory duplicates were performed on a systematic basisat Accurassay Laboratories. ALS Chemex Laboratory in Vancouver, BC alsocompleted systematic checks. Core is stored at site and in Landore's facilitiesin Thunder Bay, Ontario. Rejects are stored at Accurassay Laboratories and inLandore's facilities in Thunder Bay. Collar co-ordinate details for the 2005 drilling campaigns on Junior Lake andLamaune Lake appear in appendix A A 6,000 metre NQ diamond drill programme is scheduled to commence in earlyApril, and this will test the up-dip extensions of the high-grade intersections,infill between the sections to determine the geometry of the mineralisation andprovide core for metallurgical testing. Work is in progress upgrading the campand infrastructure. A further 3,000 metres of drilling will be carried out on the highly prospectivePQ zone, located to the east of the existing B4-7 nickel/copper deposit and theCarrot Top zone on the Lamaune Lake property. FROND LAKE: ACQUISITION Landore has purchased outright the Frond Lake property which consists of 24patents for a total area of 485 hectares from Tandem Resources Ltd of Toronto,Canada, and Yangarra Resources Ltd of Calgary, Canada, in consideration ofpayment of C$ 75,000. (A patented claim gives both mineral and surface rights tothe owner.) Frond Lake is located in north-western Ontario, approximately 115 kilometres tothe east of Pickle Lake and 180 kilometres to the southeast of the PlacerDome-Kinross Musselwhite mine, and is contiguous with Landore's Miminiska-Wottamgold properties. Landore now holds 5,445 hectares of mineral claims, including 52 patents, inthis highly prospective area, along a strike length of approximately 12kilometres, Frond Lake contains a historic resource estimate of 278,000 tonnes @ 7.4 g/tgold for 66,000 ounces of contained gold. This resource is not compliant withthe National Instrument 43-101 of Canada. The mineralisation atMiminiska-Wottam-Frond is hosted in an iron formation in a similar geologicalsetting to the Musselwhite gold deposit that has produced over 1.4 millionounces of gold. A 2,000 metre diamond drill programme is scheduled to commence in October on theFrond Lake property to confirm the historical drilling and to test the strike,down-dip and plunge extension of the resource. WEST GRAHAM: FIRST NICKEL OPTION The West Graham property consists of one patented lot, owned outright by LandoreResources, of 130 hectares and is favourably located on the southern rim of theSudbury Intrusive in southern Ontario, Canada. In November 2005, First Nickel Inc of Toronto, Canada, entered into an agreementwith Landore Resources to earn an interest of 70% in the West Graham property.The agreement provides for First Nickel to pay Landore Resources C$150,000 pluscarry out exploration expenditure to the value of C$6,000,000 over four years. First Nickel has initiated exploration and the following is an extract fromtheir recently published results. A total of 2,654 metres of diamond drilling in 9 holes have been completed onFirst Nickel's "West Graham" property, currently under option from LandoreResources Limited. The drill program was focused on the down plunge potentialfrom the known sulphide mineralization and the near surface potential of thehigher grade central portion of the "Conwest" deposit. Analytical results have been received for the first three holes of the diamonddrill program. Both, FNI-2002 and FNI-2003 intersected a higher grade zone, 9.85metres (32.3 feet) of 1.22% Ni and 0.54% Cu at a drill depth of 310.15 metresand 8.75 metres (28.7 feet) of 1.30 % Ni and 0.39% Cu at a drill depth of 356.45metres, respectively, within a broader zone of weaker mineralization. The nickelsulphide mineralisation is located approximately 20 to 60 metres above the basalcontact of the SIC and is generally disseminated in nature with lesser amountsof veined and blebby sulphides. The nickel sulphide is intriguing on the WestGraham property given the high nickel tenors are similar to the Lockerby Eastzone. Analytical results are pending for the remaining 6 holes on the WestGraham property. An exploration program is being developed to drill untested gradient IPanomalies along the portion of the SIC contact to the northeast contained withinthe property boundary. The exploration program will also include testing thefootwall potential into the underlying granites that cover approximately 75% ofthe West Graham property. An additional 5,000 metres of diamond drilling isscheduled for this property in 2006. James Garber, (BSc. Hons. Geology, member of APGO) a Director of LandoreResources Ltd and a qualified person as defined in National Instrument 43-101,has reviewed and verified all scientific or technical mining disclosurecontained in this press release excluding the extract from First Nickel'spublished results which was reviewed and verified by their qualified person. - ENDS - For more information please contact: Bill Humphries, Chairman Tel: 07734 681262Richard Prickett, Chief Executive Tel: 07775 651421Landore Resources LimitedSimon RaggettStrand Partners Limited Tel: 020 7409 3494 David Bick Tel: 07831 381201 Appendix A +-------------------------------------------------------------------------------------------+| Junior Lake Project Diamond Drilling - 2005 |+---------+-----------+----------+--------+--------+---------+---------+--------+-----------+|Hole # | utmN | utmE |Grid E |Grid N |Azimuth |Incl. |Length |Elevation |+---------+-----------+----------+--------+--------+---------+---------+--------+-----------+| | Z16N83 | Z16N83 | | |(degrees)|(degrees)| (m) | (m ASL) |+---------+-----------+----------+--------+--------+---------+---------+--------+-----------+|0405-25 |5581390.3 |433769.6 | 1300 | 0.0 | 177 | -45 | 102 | 300.0 |+---------+-----------+----------+--------+--------+---------+---------+--------+-----------+|0405-26 |5581438.0 |433768.3 | 1300 | 50.0 | 177 | -45 | 99 | 300.0 |+---------+-----------+----------+--------+--------+---------+---------+--------+-----------+|0405-27 |5581486.9 |433766.7 | 1300 | 100.0 | 177 | -45 | 102 | 300.0 |+---------+-----------+----------+--------+--------+---------+---------+--------+-----------+|0405-28 |5581539.7 |433764.9 | 1300 | 150.0 | 177 | -45 | 102 | 300.0 |+---------+-----------+----------+--------+--------+---------+---------+--------+-----------+|0405-29 |5581335.2 |433275.1 | 2150 | 0.0 | 177 | -45 | 150 | 300.0 |+---------+-----------+----------+--------+--------+---------+---------+--------+-----------+|0405-30 |5581404.9 |433271.8 | 2150 | 75.0 | 177 | -45 | 150 | 295.0 |+---------+-----------+----------+--------+--------+---------+---------+--------+-----------+|0405-31 |5581424.6 |434567.0 | 800 | -35.0 | 177 | -45 | 150 | 300.0 |+---------+-----------+----------+--------+--------+---------+---------+--------+-----------+|0405-32 |5581497.9 |434564.3 | 800 | 40.0 | 177 | -45 | 150 | 300.0 |+---------+-----------+----------+--------+--------+---------+---------+--------+-----------+|0405-33 |5582046.2 |433442.8 | 1000 | 175.0 | 177 | -45 | 102 | 300.0 |+---------+-----------+----------+--------+--------+---------+---------+--------+-----------+|0405-34 |5582153.2 |433439.7 | 1000 | 275.0 | 177 | -45 | 177 | 300.0 |+---------+-----------+----------+--------+--------+---------+---------+--------+-----------+|0405-35 |5580725.5 |435764.0 | 3275 |-760.9 | 177 | -45 | 150 | 308.2 |+---------+-----------+----------+--------+--------+---------+---------+--------+-----------+|0405-36 |5580774.8 |435762.1 | 3275 |-711.6 | 177 | -45 | 123 | 306.6 |+---------+-----------+----------+--------+--------+---------+---------+--------+-----------+|0405-37 |5580773.4 |435761.9 | 3275 |-713.0 | 177 | -45 | 150 | 306.6 |+---------+-----------+----------+--------+--------+---------+---------+--------+-----------+|0405-38 |5580848.1 |435759.2 | 3275 |-638.0 | 177 | -43.6 | 294 | 300.7 |+---------+-----------+----------+--------+--------+---------+---------+--------+-----------+|0405-39 |5580950.7 |435754.9 | 3275 |-535.3 | 177 | -49.2 | 471 | 303.2 |+---------+-----------+----------+--------+--------+---------+---------+--------+-----------+|0405-40 |5580856.5 |435685.3 | 3200 |-625.0 | 177 | -43.3 | 423 | 300.0 |+---------+-----------+----------+--------+--------+---------+---------+--------+-----------+|0405-41 |5580870.2 |435834.2 | 3350 |-625.0 | 177 | -43.7 | 309 | 301.3 |+---------+-----------+----------+--------+--------+---------+---------+--------+-----------+|0405-42 |5580954.1 |435680.0 | 3200 |-525.0 | 177 | -47 | 543 | 300.2 |+---------+-----------+----------+--------+--------+---------+---------+--------+-----------+|0405-43 |5580849.3 |435585.6 | 3100 |-625.0 | 177 | -45.9 | 438 | 299.6 |+---------+-----------+----------+--------+--------+---------+---------+--------+-----------+|0405-44 |5580895.4 |436030.9 | 3550 |-608.7 | 177 | -43.2 | 351 | 305.6 |+---------+-----------+----------+--------+--------+---------+---------+--------+-----------+|0405-45 |5580643.8 |435235.8 | 2734 |-808.0 | 177 | -42.1 | 324 | 306.4 |+---------+-----------+----------+--------+--------+---------+---------+--------+-----------+|0405-46 |5580943.5 |435581.3 | 3100 |-530.0 | 177 | -42.4 | 449 | 302.9 |+---------+-----------+----------+--------+--------+---------+---------+--------+-----------+|0405-47 |5580966.2 |435828.3 | 3350 |-525.0 | 177 | -47.7 | 270 | 303.7 |+---------+-----------+----------+--------+--------+---------+---------+--------+-----------+ (23 holes totalling 5579 metres) +---------------------------------------------------------------------------------------------+| Lamaune Lake Project Diamond Drilling - 2005 |+---------+------------+-----------+--------+--------+---------+---------+--------+-----------+|Hole # | utmN | utmE |Grid E |Grid N |Azimuth |Incl. |Length |Elevation |+---------+------------+-----------+--------+--------+---------+---------+--------+-----------+| | Z16N83 | Z16N83 | | |(degrees)|(degrees)| (m) | (m ASL) |+---------+------------+-----------+--------+--------+---------+---------+--------+-----------+|1105-01 |5583370.59 |424477.43 | 11350 | 10044 | 205 | -45 | 192 | 300 |+---------+------------+-----------+--------+--------+---------+---------+--------+-----------+|1105-02 |5583467.19 |424519.40 | 11350 | 10150 | 205 | -45 | 268 | 308 |+---------+------------+-----------+--------+--------+---------+---------+--------+-----------+|1105-03 |5583527.33 |424164.06 | 11000 | 10058 | 205 | -45 | 201 | 300 |+---------+------------+-----------+--------+--------+---------+---------+--------+-----------+|1105-04 |5583574.00 |424182.36 | 11000 | 10100 | 205 | -45 | 102 | 300 |+---------+------------+-----------+--------+--------+---------+---------+--------+-----------+|1105-05 |5583621.84 |424204.44 | 11000 | 10150 | 205 | -45 | 138 | 306 |+---------+------------+-----------+--------+--------+---------+---------+--------+-----------+|1105-06 |5583662.20 |424220.08 | 11000 | 10200 | 205 | -45 | 180 | 309 |+---------+------------+-----------+--------+--------+---------+---------+--------+-----------+|1105-07 |5583710.05 |424241.53 | 11000 | 10250 | 205 | -45 | 129 | 309 |+---------+------------+-----------+--------+--------+---------+---------+--------+-----------+|1105-08 |5583348.10 |424494.96 | 11375 | 10030 | 205 | -45 | 102 | 299 |+---------+------------+-----------+--------+--------+---------+---------+--------+-----------+|1105-09 |5583338.31 |424518.77 | 11400 | 10030 | 205 | -45 | 99 | 299 |+---------+------------+-----------+--------+--------+---------+---------+--------+-----------+|1105-10 |5583336.09 |424541.41 | 11425 | 10045 | 205 | -45 | 99 | 302 |+---------+------------+-----------+--------+--------+---------+---------+--------+-----------+|1105-11 |5584881.67 |420635.66 | 7285 | 9875 | 205 | -45 | 150 | 300 |+---------+------------+-----------+--------+--------+---------+---------+--------+-----------+|1105-12 |5584923.40 |420663.30 | 7285 | 9925 | 205 | -45 | 156 | 300 |+---------+------------+-----------+--------+--------+---------+---------+--------+-----------+|1105-13 |5581846.80 |427974.42 | 15250 | 10150 | 255 | -45 | 150 | 300 |+---------+------------+-----------+--------+--------+---------+---------+--------+-----------+|1105-14 |5581874.87 |428028.91 | 15300 | 10250 | 205 | -45 | 102 | 300 |+---------+------------+-----------+--------+--------+---------+---------+--------+-----------+|1105-15 |5584253.24 |421369.83 | 8150 | 9610 | 205 | -45 | 150 | 300 |+---------+------------+-----------+--------+--------+---------+---------+--------+-----------+|1105-16 |5584973.12 |420685.37 | 7285 | 9975 | 205 | -45 | 231 | 300 |+---------+------------+-----------+--------+--------+---------+---------+--------+-----------+|1105-17 |5583605.54 |423806.21 | 10637 | 9983 | 205 | -45 | 150 | 300 |+---------+------------+-----------+--------+--------+---------+---------+--------+-----------+ (17 holes totalling 2599 metres) This information is provided by RNS The company news service from the London Stock Exchange