focusIR May 2024 Investor Webinar: Blue Whale, Kavango, Taseko Mines & CQS Natural Resources. Catch up with the webinar here.

Less Ads, More Data, More Tools Register for FREE

Pin to quick picksLandore Regulatory News (LND)

Share Price Information for Landore (LND)

London Stock Exchange
Share Price is delayed by 15 minutes
Get Live Data
Share Price: 2.775
Bid: 2.65
Ask: 2.90
Change: 0.075 (2.78%)
Spread: 0.25 (9.434%)
Open: 2.70
High: 2.775
Low: 2.70
Prev. Close: 2.70
LND Live PriceLast checked at -

Watchlists are a member only feature

Login to your account

Alerts are a premium feature

Login to your account

Update on BAM East Gold Project

4 Oct 2017 07:00

RNS Number : 6078S
Landore Resources Limited
04 October 2017
 

 

 

LANDORE RESOURCES LIMITED

("Landore Resources" or "the Company")

(AIM Ticker: LND.L)

 

FINAL DRILLING RESULTS

BAM EAST GOLD PROJECT

JUNIOR LAKE PROPERTY

 

 

London, United Kingdom - 4th October 2017 - Landore Resources Limited (AIM:LND) ("Landore Resources" or "the Company") is pleased to provide this progress report on infill and extension drilling of the BAM East Gold Deposit on its Junior Lake Property, Ontario, Canada ("BAM East Gold Deposit").

 

Landore has received the final assay results from the summer 2017 drilling campaign:

 

Highlights:

· The latest drilling results continue to report wide zones of gold mineralisation within the Inferred area of the BAM East Gold Deposit including drill hole 0417-621 reporting 49 metres (m) at 1.08 grams per tonne gold (g/t.)

 

· Step out drilling along strike from the BAM East Gold Deposit has extended the mineralisation with similar lithology and grades a further 300m to the east to 3500E giving a potential resource continuity of 1.5 kilometres. The BAM East Gold mineralisation remains open along strike to the east, west and down dip.

 

· Roscoe Postle Associates Inc. (RPA) of Toronto have commenced the NI 43-101 Technical Report and resource update for the BAM East Gold Deposit incorporating the results from the summer 2017 drilling program with the targeted completion within Q4 2017.

 

Results not yet reported include the following.

Easting

Northing

Drill-hole

From

Interval*

Gold

No

Metres

Metres

g/t

2250E

55N

0417-623

173.00

9.00

1.67

2300E

57.5N

0417-622

148.00

8.84

1.30

2350E

75N

0417-621

95.00

49.00

1.08

including

99.00

9.27

2.25

2350E

73N

0417-625

101.32

10.19

1.03

and

118.50

19.78

1.24

2350E

230N

0417-619

17.85

7.45

1.32

2400E

100N

0417-620

69.87

6.04

4.71

including

72.65

1.10

12.95

and

90.05

11.95

0.95

and

114.50

2.25

2.74

3500E

260S

0417-596

86.00

5.00

1.13

 

* Holes 0417-619/624 were drilled at 40 degrees with all others at 45 degrees into a lithological package dipping approximately 40 degrees to the south. The actual true thickness of mineralisation is estimated to represent between 85% and 90% of the intervals shown in the above table.

 

 

Summer Drilling Campaign:

All assaying results from the summer drilling campaign, totaling 11,060m, have been received, collated and forwarded to RPA, to complete a NI 43-101-compliant Technical Report and Resource Update of the BAM East Gold Deposit with the targeted completion within Q4 2017.

 

The summer drilling campaign focussed on the further delineation and extension of the defined resource together with targeting potential deposits on the highly prospective geophysical trend MM-7, host to the BAM East Gold Deposit.

 

The campaign successfully infilled the majority of the Inferred portion of the existing resource zone and has extended its potential strike length from the exiting 600m length to 1,500m length, from 2000E to 3500E. The deposit remains open along strike to the east and west and down dip.

 

In addition, drilling at the original BAM Zone has successfully identified a potential resource with similar lithology and grades to the BAM East Gold Deposit located 1,000m along strike to the east. The original BAM Zone mineralisation remains open along strike to the east, west and down dip

 

Metallurgical Studies:

Two composites weighing a total of 78kg were forwarded to ALS Metallurgical Americas of Vancouver for preliminary assessment designed to assess the metallurgical response of samples from the BAM East Gold Deposit and to provide a determination of the gold feed grade. Results are pending and will be reported when received.

 

Exploration:

Three teams consisting of four geologists and technical support have been engaged throughout the summer in exploring the Junior Lake property around the BAM East Gold Deposit and the western extent to Lamaune Gold (15 kilometres) to identify potential drill targets for the upcoming winter campaign. The exploration is ongoing.

 

BAM East Gold Deposit:

Discovered in December 2015, the BAM East Gold Deposit contains 301,000 ounces of gold (February 2017 National Instrument (NI) 43-101 Mineral Resource Estimate and Technical Report). This resource is located approximately midway along a 2.7 kilometre long, east-southeast to west-northwest trending MaxMin geophysical anomaly (MM-7), at the western end of which is located the historical BAM gold zone discovered by Landore Resources in 2003.

 

BAM East Gold mineralisation is a typical shear hosted gold bearing system in an Archaean greenstone belt. Findings from exploration drilling have revealed a lithological sequence consisting of leucogabbro rocks of the Grassy Pond Sill to the south, metasedimentary rocks in the central portion, to mafic volcanics to the north. All lithological units have been subjected to variable shearing and deformation, markedly the metasedimentary unit.

 

Michele Tuomi, (P.Geo., BSc. Geology), Director/VP Exploration of Landore Resources Canada Inc. and a Qualified Person as defined in the Canadian National Instrument 43-101 and the AIM Rules for Companies, has reviewed and verified all scientific or technical mining disclosure contained in this announcement.

 

- ENDS -

About Landore Resources

Landore Resources is an exploration company that seeks to grow shareholder value through the acquisition, exploration and development of precious and base metal projects in eastern Canada. The Company is primarily focused on the development of the Junior Lake Project. Landore Resources has mineral rights to 5 properties in eastern Canada. The Company is headquartered in Guernsey, with an exploration office located in Thunder Bay, Ontario, Canada.

 

For more information, please contact:

 

Bill Humphries, Chief Executive Officer Tel: 07734 681262

Richard Prickett, Finance Director Tel: 07775 651421

Landore Resources Limited www.landore.com

 

Angela Hallett / James Spinney / Jack Botros Tel: 020 7409 3494

Strand Hanson Limited

Nominated Advisor and Broker

 

This announcement contains inside information as defined in Article 7 of the Market Abuse Regulation No 596/2014.

 

This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
DRLUOVVRBAARRAA
Date   Source Headline
25th Jul 20194:14 pmRNSAward of Options
24th Jul 20191:25 pmRNSResult of AGM
17th Jul 20193:51 pmRNSAdmission Date for Subscription Shares
3rd Jul 20197:00 amRNSSubscription to raise £250,000
19th Jun 20197:00 amRNSFinal Results
12th Jun 20197:00 amRNSDrilling and Exploration Programme Commences
4th Jun 201912:31 pmRNSDirectors Subscription
31st May 20194:29 pmRNS£1 million Fundraising
4th Mar 20197:00 amRNSNew Corporate Presentation
20th Feb 20197:00 amRNSTechnical Report & Preliminary Economic Assessment
5th Feb 20197:00 amRNSDETAILED METALLURGICAL ASSESSMENT BAM GOLD DEPOSIT
8th Jan 20197:00 amRNSBAM Gold Deposit Mineral Resource Estimate Update
13th Dec 20187:00 amRNSBAM Gold Deposit
11th Dec 20187:00 amRNSChange of Adviser
26th Oct 201810:00 amRNSHolding(s) in Company
25th Oct 20186:00 pmRNSHolding(s) in Company
24th Oct 20187:04 amRNSBAM Gold Deposit Update
24th Sep 20187:00 amRNSProgress Report - Bam Gold Deposit
19th Sep 20187:00 amRNSHalf-year Report
7th Aug 20187:00 amRNSMineral Resource Estimate Update
20th Jul 201811:00 amRNSHolding(s) in Company
19th Jul 201812:00 pmRNSResult of AGM
17th Jul 20187:00 amRNSProgress Report - BAM Gold Deposits
1st Jun 20187:00 amRNSFinal Results
30th May 20187:00 amRNSProgress Report - BAM Gold Deposit
26th Apr 20187:00 amRNSUpdate on BAM East Gold Deposit
11th Apr 20187:00 amRNSMineral Resources Estimates, Junior Lake
10th Apr 20184:45 pmRNSHolding(s) in Company
10th Apr 20184:30 pmRNSHolding(s) in Company
10th Apr 20183:00 pmRNSHolding(s) in Company
3rd Apr 201811:48 amRNSResult of Extraordinary General Meeting
16th Mar 20182:45 pmRNSAppointment of broker
16th Mar 20181:00 pmRNS£3.15 million Fundraising
7th Feb 20187:00 amRNSNew Corporate Presentation
5th Feb 20187:00 amRNSUpdated Mineral Resource Estimate
22nd Dec 20177:00 amRNSAward of Share Options
11th Dec 20177:05 amRNSUpdated Mineral Resource Estimate - BAM East
6th Nov 20177:00 amRNSJunior Lake and Lamaune Update
30th Oct 20172:03 pmRNSHolding(s) in Company
26th Oct 20178:00 amRNSHolding(s) in Company
19th Oct 20177:00 amRNSLandore Resources raises £1 million
11th Oct 201711:47 amRNSResult of Lamaune Special Meeting
9th Oct 20177:00 amRNSUpdate on BAM East Gold Deposit
4th Oct 20177:00 amRNSUpdate on BAM East Gold Project
27th Sep 20177:00 amRNSInterim Results
21st Sep 20174:00 pmRNSHolding(s) in Company
18th Sep 20177:00 amRNSUpdate on BAM East Gold Project
13th Sep 20177:00 amRNSDebt Settlement Agreement with Lamaune Iron Inc.
27th Jul 20177:00 amRNSUpdate on BAM East Gold Project
5th Jul 201711:00 amRNSAward of Share Options

Due to London Stock Exchange licensing terms, we stipulate that you must be a private investor. We apologise for the inconvenience.

To access our Live RNS you must confirm you are a private investor by using the button below.

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.