Landore Regulatory News (LND)

9 May 2006 07:00

Landore Resources Limited09 May 2006 LANDORE RESOURCES LIMITED ("Landore") PROGRESS REPORT Highlights: •Junior Lake VW zone:-Infill drilling has commenced on the VW zone nickel discovery located at the southeastern end of the Junior Lake property. •Lessard Property: -V.T.E.M. deep penetrating airborne electromagnetic and magnetic survey has been completed over Landore's Lessard property. Junior Lake properties: Drilling: The Junior Lake properties are located in the province of Ontario,approximately 235 kilometres north-northeast of Thunder Bay and are situatedwithin the Caribou-O-Sullivan Greenstone Belt in the Wabigoon Subprovince. Two drilling campaigns, completed in 2005, successfully identified numerousnickel occurrences, including the significant discovery at the VW zone, whichreported grades of up to 3.7% nickel and 1.18% copper with gold of up to 0.68g/tin separate intersections. A diamond drilling campaign, totalling 8,100 metres of NQ sized core hascommenced on the Junior Lake properties comprising 5,000 metres of infilldrilling on the recently discovered VW zone and 3,100 metres of explorationdrilling to test prospective trends along strike from the VW zone and otherfavourable targets. In addition, several holes will be drilled at the VW andB4-7 zones for metallurgical testing. Chibougamau Drilling has been selected tocarry out the drilling contract. Lessard property. The Lessard property, comprising 91 claims for 1,456 hectares is locatedapproximately 107 kilometers north of the town of Chibougamau, in the provinceof Quebec. Access is by an all weather gravel road that passes through theproperty. The property hosts a copper-zinc-silver deposit with a historic resourcereported in a feasibility study in 1975 by Selco Mining Corporation Ltd of1,463,835 tons at 1.73%Cu, 2.96%Zn, 1.1oz/t Ag and 0.019oz/t Au after allowancefor dilution. (The resource is not compliant with National Instrument 43-101).Using metal prices of the day (copper US$0.73/lb and zinc US$0.38/lb), thedeposit was considered to be sub-economical with prices required to be 20% tomake development viable. Prices of copper and zinc are currently 400% higherthus the deposit merits revisiting. Landore intends to engage an independent consultant to prepare a NI 43-101compliant technical report on the Lessard deposit. During late April, Landore Resources Canada Inc. completed a Geotech Ltd. VTEMdeep-penetrating time-domain airborne electromagnetic and magnetic survey overthe Lessard copper-zinc-silver property. The survey was flown at 50 and 100metre line spacing over the entire property for a total of 316 line kilometres.The objectives of the survey are to cover the known Cu-Zn-Ag deposit, highlightpossible strike extensions of the deposit and develop new targets for follow-upexploration. Results are pending. Landore has three properties containing delineated mineral deposits ofsubstance: The B4-7 nickel/copper zone on Junior Lake; the nickel deposit on theWest Graham property (optioned to First Nickel Inc) and the copper/zinc depositon the Lessard property, all of which have been considered, in the past,sub-economical due to: the low price of metals; size of deposit; lowmetallurgical recoveries and remoteness. The three-fold increase in the price of metals, which coupled with thesignificant advances in metallurgical recoveries over the past 20-30 years andthe improved access could see these properties developed into mineral resourcesin the near future. 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. - 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