(AIM Ticker: LND.L)
LONDON, April 7 2017 /CNW/ - Landore Resources Limited (AIM:LND) ("Landore Resources" or "the Company") is pleased to announce that the 2016 "Bernie Schneiders Discovery of the Year Award" has been presented to Landore Resources for the discovery of the BAM East Gold Deposit on its Junior Lake Property, Ontario, Canada.
Landore Resources has been awarded the prestigious "Bernie Schneiders Discovery of the Year Award" by the Northwestern Ontario Prospectors Association in recognition for the BAM East Gold Deposit discovery. This award, which recognizes an exceptional discovery in Northwestern Ontario during the previous calendar year, was presented on 4th April to Landore Resources at the annual awards dinner hosted during the 2017 Ontario Prospectors Exploration Showcase in Thunder Bay, Ontario.
Commenting on this award, Chief Executive Officer of Landore Resources, Bill Humphries, said:
"We are honoured and privileged to receive this prestigious award in a province containing several of the world's larger gold producing mining camps including Red Lake and Pickle Lake. Ontario is a highly desirable jurisdiction for the exploration and development of mineral resources with stable government, accessible infrastructure and skilled workforce."
BAM East Gold Deposit Update:
Drilling on the BAM East Gold Deposit re-commenced April 1 2017 with a total of 12,000 metres planned during this spring and summer. One drill is currently focussed on further delineation of the deposit, with a second drill scheduled to commence exploration drilling along the highly prospective structural trend which hosts the BAM East Gold Deposit. One drill hole, for 282 metres, has been completed in the Central Zone revealing the same lithology's hosting the gold mineralisation. Results will be reported when received and collated.
A study of available geological and drilling information is in-progress to further identify prospective drill targets along the structural trend which hosts the BAM East Gold deposit itself, with completion anticipated by the end of Q2.
About the 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 deposit 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.
To date, 45 (7 HQ and 38 NQ) diamond drill holes, for 8,821 metres, have been drilled, successfully delineating a significant gold deposit in the Central Zone and identifying other highly prospective areas with similar lithology along the 2.7 kilometre potential strike length.
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.
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.
This announcement contains inside information as defined in Article 7 of the Market Abuse Regulation No 596/2014.
SOURCE Landore Resources Limited
For further information: Bill Humphries, Chief Executive Officer, Tel: 07734 681262; Richard Prickett, Finance Director, Tel: 07775 651421; Landore Resources Limited, www.landore.com; James Spinney / Jack Botros, Tel: 020 7409 3494; Strand Hanson Limited, Nominated Advisor and Broker