(AIM Ticker: LND.L)
THUNDER BAY, ON, May 10 /CNW/ -
Exploration drilling on the Junior Lake property has identified three
new areas containing significant nickel mineralisation, including the
B4-8 zone which recorded an intersection of 5.58 metres at 0.59 per
cent nickel and 0.29 per cent copper in massive sulphides from drill
hole 0411-301. The B4-8 zone is located to the west of Landore's B4-7
Nickel-Copper-Cobalt-Platinum Group Elements (PGEs) deposit.
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 Nickel-Copper-Cobalt-PGEs deposit, the Lamaune Iron deposit,
the Lamaune Gold prospect, and numerous other highly prospective
Junior Lake Nickel project: The combined resources of the VW and B4-7 deposits delineated to date
total 48,281 tonnes of nickel equivalent, 82 per cent of which is in
the Indicated category, Canadian National Instrument 43-101 compliant.
Both deposits remain open down dip and along strike to the east and
Landore believes that for the Junior Lake Nickel project to be
economically viable, the above tonnage needs to be increased by 20 to
30 per cent. Accordingly, during the autumn and winter of 2010/11 the
exploration campaign has been focused towards the discovery of
additional nickel mineralisation in the vicinity of the two main
B4-8 zone: Historical exploration carried out in the late 1960s identified in
excess of 25 magnetic conductors on the Junior Lake property, including
the B4-8 and the adjacent B4-7 conductors. The B4-7 conductor was
subsequently drilled and developed to become the B4-7 deposit.
In 2004, Landore completed a high resolution helicopter-borne
geophysical survey over the entire Junior Lake property which led to
the discovery of the VW Nickel deposit. The 1st derivative magnetics data identified a very strong and continuous
east-west trending anomaly coincident with the B4-8 conductor making
this a prime exploration target. Two scout drill holes completed on the
B4-8 zone in 2009 returned promising intersections of nickel (Ni) and
copper (Cu) mineralisation.
In February 2011, a drilling campaign consisting of 6 diamond drill
holes, for 1,347 metres, was completed on the B4-8 in the vicinity of
the above scout holes. The drilling intersected massive sulphide
mineralisation similar to the adjacent B4-7 deposit, including 5.58 metres at 0.59 per cent Ni and 0.29 per cent Cu from drill hole 0411-301.
Drilling on the B4-8 has recommenced, with the objective of extending
this potential new Ni-Cu shoot.
VW-B4-7 trend: A drilling campaign consisting of 17 diamond drill holes, for 3,663
metres, was completed in Q1 2011 to investigate the nickel potential
west of the VW deposit towards the B4-7 deposit. Drilling focused on an
east-west trending geophysical anomaly extending between the two
deposits potentially related to the nickel-bearing geophysical
anomalies of the VW and B4-7.
The drilling returned several anomalous nickel intersections, including
3 metres at 0.23 per cent Ni from drill hole 0411-294, and 2.5 metres
at 0.39 per cent Ni from drill hole 0411-288. Anomalous gold values
were also intersected, including 1.25 metres at 1.37 g/t gold from
drill hole 0410-285, and 1.5 metres at 0.22 g/t gold with 0.65 per cent
Cu from drill hole 0411-292. Further drilling is warranted and is
programmed to commence in Q3 2011.
Swole Lake prospect: Historical work, together with mapping and sampling conducted by
Landore in 2009 and 2010, identified the potential for economic grades
of nickel and lithium-bearing pegmatite in the Swole Lake area, 4.8
kilometres north of the B4-7 deposit.
An exploration drilling campaign consisting of 10 drill holes, for 1,441
metres, was conducted during Q1 2011 to test for nickel mineralisation
hosted in mafic-ultramafic rocks. The drilling was successful with
drill hole 0411-305 intersecting 1.2 metres at 0.98 per cent Ni, 0.70
per cent Cu, 0.02 per cent cobalt with significant PGE credits.
Drilling targeted at extending this nickel occurrence is scheduled to
commence in Q3.
In addition, the drilling at Swole Lake successfully intersected a
significant pegmatite dike hosting lepidolite and spodumene. Samples
are currently being assayed and results will be reported when
Results from the autumn-winter exploration drilling campaign are highly
encouraging, successfully identifying three new areas of significant
nickel mineralisation on the Junior Lake property. Drilling during
spring and summer of 2011 will target the advancement of one or more of
these areas to potential resource status.
Michele Tuomi, (P.Geo., BSc. Geology), a Senior Geologist of Landore
Resources Canada Inc. 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.
SOURCE Landore Resources Limited
For further information:
| Bill Humphries, Chairman |
Richard Prickett, Chief Executive Officer
Landore Resources Limited
| || || Tel: 07734 681262 |
Tel: 07775 651421
| || || || |
| Simon Raggett /Angela Peace |
Strand Hanson Limited
Nominated Adviser/Joint Broker
| || || Tel: 020 7409 3494 |
| || || || |
| David Bick || || || Tel: 07831 381201 |