Landore Resources Limited - Drilling Results And Progress Report - Junior Lake-Nickel Project - B4-7 Deposit



    TORONTO, Jan. 8 /CNW/ -

    
    HIGHLIGHTS

    -   Infill drilling on the historic B4-7 nickel-copper-cobalt-platinum
        group elements (Ni-Cu-Co-PGE) deposit, located just 3 kilometres
        from the VW Nickel Deposit, has confirmed the continuity of the
        mineralization. The deposit remains open down plunge to the West.

    -   Drilling intersected wide zones (up to 10 metres true width) of
        nickel mineralization, with assay results frequently returning
        grades in excess of 1% nickel together with substantial credits of
        copper, assaying up to 1.65%, and cobalt assaying up to 0.33%.

    Mineralized intersections include:

    -------------------------------------------------------------------------
    Drill-hole   From    Width  Nickel  Copper  Platinum   Palladium  Cobalt
        No      Metres  Metres     %       %       g/t        g/t        %
    -------------------------------------------------------------------------
    0407-163 `   146.9    14.7    0.79    0.49     0.161      0.778     0.09
    -------------------------------------------------------------------------
    Including    146.9     1.1    0.61    0.33     0.108      0.310     0.33
    -------------------------------------------------------------------------
    Including    148.0     5.0    1.03    0.52     0.129      0.875     0.07
    -------------------------------------------------------------------------
    Including    161.0     0.6    0.33    1.65     0.040      0.233     0.32
    -------------------------------------------------------------------------
    -------------------------------------------------------------------------
    407-170       34.0     2.0    0.63    0.08     0.230      2.454     0.03
    -------------------------------------------------------------------------
    and          100.0    11.0    1.04    0.54     0.413      0.512     0.09
    -------------------------------------------------------------------------
    and          112.8     0.5    0.70    0.30     0.076      0.085     0.30
    -------------------------------------------------------------------------
    and          122.1     0.9    1.27    0.09     0.039      0.067     0.09
    -------------------------------------------------------------------------
    -------------------------------------------------------------------------
    407-171       70.3    12.7    0.76    0.64     0.112      0.296     0.12
    -------------------------------------------------------------------------
    Including     72.6     1.4    0.80    0.99     0.177      0.489     0.23
    -------------------------------------------------------------------------
    -------------------------------------------------------------------------
    407-173      131.1     4.9    0.90    0.65     0.034      0.111     0.11
    -------------------------------------------------------------------------
    -------------------------------------------------------------------------
    407-176      194.6    16.8    0.53    0.34     0.122      0.174     0.05
    -------------------------------------------------------------------------
    Including    202.0     2.0    1.03    0.60     0.313      0.327     0.08
    -------------------------------------------------------------------------
    

    The Junior Lake property:

    The Junior Lake property is located in the province of Ontario, Canada,
approximately 235 kilometres north-northeast of Thunder Bay and is situated
within the Caribou-O-Sullivan Greenstone Belt in the Wabigoon Subprovince. The
VW Nickel Deposit is located at Ketchikan Lake toward the south eastern end of
the Junior Lake property and the B4-7 Deposit is located approximately
3 kilometres to the north-west of the VW Nickel Deposit.

    B4-7 Nickel-Copper Deposit:

    A drill programme, consisting of 16 NQ size holes (0407-162 to 0407-177)
for a total of 3,575 metres, has been completed on the B4-7 Nickel-Copper
Deposit. The programme was designed to infill the remaining gaps in the
deposit and for additional metallurgical testing.
    Final assay results have now been received and are currently being
collated after which the data will be forwarded to Scott Wilson Roscoe Postle
Associates Inc. (Scott Wilson RPA), consulting and engineering group from
Toronto, Canada, who have been engaged to independently prepare a NI43-101
resource estimate and report on the B4-7 Nickel-Copper Deposit.
    All drill core was photographed prior to being cut for assaying. Samples
were analyzed at Accurassay Laboratories (ISO/IEC 17025), Thunder Bay,
Ontario, by geochemical analysis with atomic absorption finish (Ni). All
samples reporting results of 1% nickel or higher were re-analysed by the assay
method with atomic absorption finish. Check assays, standards and laboratory
duplicates were performed on a systematic basis at Accurassay Laboratories.
ALS Chemex Laboratory in Vancouver, BC also completed systematic checks. Core
is stored at site and in Landore's facilities in Thunder Bay, Ontario. Rejects
are stored at Accurassay Laboratories and in Landore's facilities in Thunder
Bay.

    VW Nickel Deposit:

    Scott Wilson RPA, are currently preparing a Canadian National Instrument
43-101 (NI43-101) compliant resource estimate upgrade on the VW Nickel
Deposit.
    On completion of the resource upgrade on the VW Deposit, (estimated
February) and the resource estimate of the B4-7 Deposit (estimated April) a
full, NI43-101 compliant, Scoping study will be completed on the combined
deposits.
    SGS Lakefield Research Limited of Lakefield, Ontario, has been engaged to
complete second stage metallurgical testing of the VW Nickel ore to Scoping
Study level.
    James Garber, (BSc. Hons. Geology, member of APGO) a Director of Landore
Resources Ltd and a qualified person as defined in the Canadian National
Instrument 43-101, has reviewed and verified all scientific or technical
mining disclosure contained in this announcement, which is stated in
accordance with the Canadian Institute of Mining Metallurgy and Petroleum.

    %SEDAR: 00008466E




For further information:

For further information: Bill Humphries, Chairman, Tel: 07734 681262;
Richard Prickett, Chief Executive, Tel: 07775 651421; Landore Resources
Limited, www.landore.com; Simon Raggett, Tel: 020 7409 3494; Strand Partners
Limited, David Bick, Tel: 07831 381201


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