Landore Resources Limited - Drilling Update - Junior Lake Property - Lamaune Iron Deposit - B4-7 Nickel Project



    (AIM Ticker: LND.L)

    THUNDER BAY, ON, Aug. 4 /CNW/ -

    
    HIGHLIGHTS

    -   A second drilling and trenching campaign has commenced on the Lamaune
        Iron Deposit, located at the western end of the Junior Lake Property,
        to confirm anomalies delineated by the recently completed helicopter-
        borne `Impulse' geophysical survey and to provide material for
        metallurgical testing.

    -   Results from the recently completed drilling campaign on the B4-7
        nickel-copper-cobalt-platinum group elements (Ni-Cu-Co-PGE) deposit
        continue to report wide zones of mineralization containing high grade
        nickel. The deposit, delineated to date over 650 metres of strike,
        remains open along strike and down plunge to the north-west.
    

    The Junior Lake property:

    The Junior Lake property, 100% owned by Landore, is located in the
province of Ontario, Canada, approximately 235 kilometres north-northeast of
Thunder Bay and is host to; the VW Nickel Deposit, the B4-7 Deposit, the
Lamaune Iron Deposit, the BAM zone gold occurrence and numerous other highly
prospective mineral occurrences.

    Lamaune Iron Deposit:

    In October 2008, Landore reported that exploration, including geophysical
surveys, trenching and drilling, had confirmed the presence of a large
magnetite iron deposit at the western end of the Junior Lake property.
    The Lamaune Iron Deposit is just 11 kilometres from the Canadian National
Railway providing direct access to the Port of Thunder Bay on Lake Superior.
The port still has much of the infrastructure used by Steep Rock Iron Mines to
ship Iron ore to the iron mills of North America.
    In addition the iron deposit has abundant water resources nearby and is
just 20 kilometres from the planned Hydropower on the Little Jackfish River.
    The positive results of the exploration, together with the potential
access to excellent infrastructure in the vicinity, were sufficiently
encouraging for Landore to advance the Lamaune Iron deposit towards resource
status.
    In February 2009, a Helicopter-borne 'Impulse' geophysical survey was
completed along a 12 kilometre trend over the western part of the Junior lake
property, which included the Lamaune Iron Deposit area and possible extensions
to the east and west. In all, 724 line kilometres were completed at 50 metre
spacing.
    The `Impulse' geophysical survey was selected to more clearly define the
anomalies identified in the previous ground and air-borne magnetic surveys and
to identify anomalies in the newly acquired western extension of the Junior
Lake property.
    The survey has proven highly successful in the identification of
magnetite rich anomalies.
    A second campaign, consisting of 1,200 metres of trenching and 7,000
metres of drilling, commenced in late June. The trenches and drill-holes have
been planned to give even coverage along approximately 5 kilometres of the
central part of the trend.
    To date 13 trenches for a total of 720 metres have been excavated and 15
drill-holes for a total of 3,199 metres have been drilled. Cutting and
sampling is in progress. Results are pending. Sampling is also being
undertaken for metallurgical and beneficiation testing.

    B4-7 Deposit:

    In May of 2008, Landore reported an Inferred resource estimate for the
B4-7 Deposit of 4,650,000 tonnes at 0.55% Nickel Equivalent (NiEq) (nickel
plus copper-cobalt-PGE credits).
    An infill drill programme, consisting of 42 NQ size holes for a total of
8,764 metres, has recently been completed on the B4-7 Deposit. The programme
was designed to provide sufficient information and drill density to advance
the deposit to Indicated status. Additional metallurgical testing will be
completed using core from the present program.

    
    Mineralized intersections not previously reported include:

    -------------------------------------------------------------------------
    Drill-hole    From    Width  Nickel  Copper  Cobalt  Platinum  Palladium
    -------------------------------------------------------------------------
        No       Metres  Metres     %       %       %       g/t       g/t
    -------------------------------------------------------------------------
    0419-223     228.30   12.78    0.83    0.49    0.08      0.08      0.66
    -------------------------------------------------------------------------
    including    229.35    1.00    1.06    0.24    0.09      0.21      0.57
    -------------------------------------------------------------------------
    including    235.50    1.00    1.05    0.72    0.09      0.05      0.83
    -------------------------------------------------------------------------
    0419-233      66.98   14.84    0.48    0.49    0.05     <0.01      0.07
    -------------------------------------------------------------------------
    0419-234     150.62   12.25    0.65    0.32    0.05      0.01      0.02
    -------------------------------------------------------------------------
    0419-235      87.97   10.89    0.65    0.28    0.05      0.26      0.64
    -------------------------------------------------------------------------
    including     91.40    1.00    1.01    0.18    0.06      0.43      1.40
    -------------------------------------------------------------------------
    including     95.00    1.00    1.03    0.09    0.06      0.28      0.13
    -------------------------------------------------------------------------
    0419-237      33.00    2.00    0.39    0.08    0.02      1.99      7.54
    -------------------------------------------------------------------------
    and           59.16    0.59    1.45    0.31    0.06      1.32      5.18
    -------------------------------------------------------------------------
    Assay results are pending for the last 6 drill-holes.
    

    Landore has appointed Scott Wilson Roscoe Postle Associates Inc. (Scott
Wilson RPA), consulting and engineering group from Toronto, Canada, to prepare
a Canadian National Instrument 43-101 (NI43-101) compliant resource estimate
upgrade on the B4-7 deposit.
    The drill campaign has shown that the B4-7 deposit remains open to the
west along strike and down plunge to the north-west. A previously completed
airborne electromagnetic survey suggests the conductive horizon hosting the
B4-7 deposit persists for an additional 500 meters to the west.
    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 are re-analysed by the single
assay method with atomic absorption finish. Check assays, blanks, standards
and laboratory duplicates are performed on a systematic basis at Accurassay
Laboratories. Actlabs Laboratory in Thunder Bay, Ontario is used for
systematic checks. Core is stored on site and in Landore's secure facilities
in Thunder Bay, Ontario. Rejects are stored at Landore's secure facilities in
Thunder Bay.
    Marc Sale, (BSC. Geology, Fellow AusIMM, member AIG) a consultant to
Landore Resources Limited 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.





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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