Landore Resources Limited Regulatory News (LND)

11 Jul 2007 07:00

Landore Resources Limited11 July 2007 LANDORE RESOURCES LIMITED (AIM Ticker: LND.L) 11 July 2007 PROGRESS REPORT JUNIOR LAKE-NICKEL PROJECT HIGHLIGHTS •Drilling on the VW Zone Nickel Project continues to intersect multiple zones of resource grade nickel mineralization, with assay results consistently returning grades in excess of 1% nickel. The zone remains open along strike in both directions and at depth. •Claim staking has significantly increased Landore's property holding at Junior Lake, extending the property almost 5 kilometres to the east and south-east covering the eastern strike extension of the structurally deformed geology hosting the VW zone. The Junior Lake area properties now extend over a strike length of 28 kilometres. Mineralized intersections not previously reported include: Drill-hole From Width Nickel No Metres Metres % 0407-108 55.0 2.4 1.01 61.0 5.0 0.89 includes 64.0 2.0 1.42 0407-110 173.0 1.0 1.41 184.0 17.0 0.43 includes 197.0 1.0 1.32 218.0 18.0 0.65 includes 220.0 1.0 1.30 includes 233.0 2.0 2.36 0407-112 77.0 7.0 0.48 includes 82.0 1.0 1.59 0407-113 243.0 38.0 0.32 296.0 7.0 0.74 includes 302.0 1.0 1.35 318.0 5.5 0.70 0407-117 282.0 11.6 0.73 includes 290.0 2.0 1.48 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. TheVW Zone Nickel Project is located at Ketchikan Lake toward the south eastern endof the Junior Lake property. Diamond drilling resumed on the VW Zone in mid-April with 2 drill rigs. Acampaign of 60 holes for approximately 15,000 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 pre-feasibilitystudies. To date, 35 holes (0407-99 to 0407-134), for 9,876 metres, have been completed.Results are pending for 18 of those holes. At completion of the current campaign, (approximately mid September) thedrilling results will be collated and forwarded to Independent Engineers for aNational Instrument 43-101 Resource upgrade. 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. Further releases will be made during the summer period as drilling continues. Junior Lake Claim Staking During June and July Landore staked and recorded 17 new claims to the east andsouth-east of the Junior Lake property. The new claims were staked as a direct result of the positive advancement of theVW zone nickel deposit and the good potential for the discovery of additionalbase and precious metal mineralization along strike within this geologicalsetting in the East-Central Caribou Lake greenstone belt. In addition, Landore has staked and recorded 5 new claims to the north and southof the VW Zone for inclusion within the proposed area being advanced to Leasestatus, required for possible mining. The Junior Lake claim area is summarized as follows: Junior Lake Claims Area Landore Unpatented Leased Hectares New claims for proposed Lease 5 528 100%New claims to east 9 1,920 100%New claims to south 8 1,984 100%Claims prior to new staking 36 2 5,413 100% Total 58 2 9,845 100% The new claims extend the Junior Lake property almost 5 kilometres to the eastand south covering eastern strike extension of the structurally deformed geologyhosting the VW zone. The Junior Lake area properties now extend over a strikelength of 28 kilometres. A variety of mineralized showings hosting nickel, gold, molybdenum,copper-zinc-lead, and asbestos, as reported in the assessment files, are coveredby the new claims. Nickel mineralization hosted by peridotite (ultramaficrock) in the Toronto Lake area is reported grading up to 0.96% Ni over 0.3 meterby Pye, 1968. Other occurrences of nickel-copper mineralization associatedwith a gabbro-anorthosite sill (Grassy Pond Sill) on a peninsula on the eastside of Toronto Lake and copper-zinc and lead sulphides intersected by drillholes in felsic metavolcanics near the west shore under Toronto Lake arereported by Berger, 1992, from information in the Assessment Files ResearchOffice (AFRO), Toronto. 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 681262Richard Prickett, Chief Executive Tel: 07775 651421Landore Resources Limited www.landore.com Simon Raggett Tel: 020 7409 3494Strand Partners Limited David Bick Tel: 07831 381201 This information is provided by RNS The company news service from the London Stock Exchange