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Landore Resources' Bam East gold continues to impress

The summer drill programme at the BAM East prospect is now complete

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The firm said it could be developed as a low cost, open pit mine

Landore Resources Ltd (LON:LND) continues to be excited by the findings at its Bam East gold prospect at the Junior Lake project in Ontario, where wide zones of gold, including high grades, have been uncovered.

The summer drill programme is now complete and the firm said mineralisation, close to surface, has the potential to be developed as a  low cost, bulk tonnage, open pit operation.

It would involve a simple processing route with excellent recovery potential.

The programme saw 22 diamond drill holes for 4,077 metres (m) to test the east, west and down-dip areas of the new zone, with results received for 12.

One hole reported 53.5 metres at 1.38 grams per tonne gold (g/t) including 9m at 4.74g/t gold and 1m at 30.60g/t gold.

Meanwhile, 20 of the 28 holes have shown multiple instances of visible gold (VG) up to two millimetres long.

Further sampling at the adjacent leucogabbro rock has extended the mineralisation in a previous hole from 24.5m at 0.98g/t gold to 40.5 m at 1.32g/t gold, Landore highlighted.

Drilling is scheduled to start again in October this year, firstly to provide material for metallurgical testing, then there will be further extension drilling.

In April this year, Landore confirmed the zone as a "significant discovery"

It has said the style of mineralisation has many corollaries with similar commercial gold deposits in the Canadian Shield, such as Kirkland Lake, Hollinger-McIntyre, Kerr-Adison and Sigma-Lamarque.

Shares gained over 6% in early deals to go to 3.025p.

Quick facts: Landore Resources Ltd

Price: 26.75 GBX

AIM:LND
Market: AIM
Market Cap: £24.12 m
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Landore boosted by latest Junior Lake results

The CEO of AIM-listed Landore Resources (LON:LND), Richard Prickett, has described as "hugely positive" the discovery of what could be significant deposits of nickel at its Junior Lake project in Ontario, Canada.

on 04/24/2014

2 min read