Landore Regulatory News (LND)

31 Jul 2007 07:00

Landore Resources Limited31 July 2007 LANDORE RESOURCES LIMITED (AIM Ticker: LND.L) PROGRESS REPORT JUNIOR LAKE-NICKEL PROJECT Assay results received from holes 0407-119, 120 and 122 drilled on thewesternmost section of the deposit clearly indicate that the nickel grades arestrengthening to the west and remain open along strike. All 3 holes returnedassays greater than 1% nickel with drill-hole 0407-122 reporting an interval of10 metres at 1.24% nickel. Assays are pending for deeper holes on this section. Mineralized intersections not previously reported include: +------------+---------+---------+----------+| Drill-hole | From | Width | Nickel |+------------+---------+---------+----------+| No | Metres | Metres | % |+------------+---------+---------+----------+|0407-119 | 112.0| 2.0| 1.24|| | | | |+------------+---------+---------+----------+| | | | |+------------+---------+---------+----------+| 0407-120 | 182.0| 12.0| 0.74|+------------+---------+---------+----------+| includes | 190.0| 1.0| 1.69|+------------+---------+---------+----------+| | 213.0| 9.0| 0.88|+------------+---------+---------+----------+| includes | 220.0| 2.0| 1.73|+------------+---------+---------+----------+| | | | |+------------+---------+---------+----------+| 0407-122 | 259.0| 10.0| 1.24|+------------+---------+---------+----------+| includes | 264.0| 1.0| 2.68|+------------+---------+---------+----------+| includes | 267.0| 1.0| 2.24|+------------+---------+---------+----------+| | 271.8| 5.2| 0.92|+------------+---------+---------+----------+| includes | 274.0| 1.0| 1.84|+------------+---------+---------+----------+| | | | |+------------+---------+---------+----------+| 0407-124A | 314.0| 7.0| 0.89|+------------+---------+---------+----------+| includes | 316.0| 3.0| 1.46|+------------+---------+---------+----------+ Consultant's Opinion Dr. J. Mungall of the University of Toronto, Consultant to Landore for theJunior Lake Nickel Project, has interpreted the VW zone as a "fundamentallyhydrothermal deposit. The VW zone is essentially syngenetic and therefore hassome affinities to volcanogenic massive sulphide (VMS) deposits." The main zone of nickel mineralization is associated with a clearly recognizableunit of extensive alteration that formed over a hydrothermal vent on theseafloor. This unit appears to thicken in a westerly direction and with depthsuggesting the possible approach toward the centre of the ore generating system.Increasing thickness of this unit could be a guide to vector to its thickestpart with the hope of finding a vent facies with high grade nickel and/or coppermineralization." Additional drilling is planned to continue testing the westerly strike extensionof the VW zone along fences at 50 metre step-outs as part of the current drillprogramme. 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, 41 holes (0407-99 to 0407-139), for 10,515 metres, have been completed.Results are pending for 16 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. 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. 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