Landore Resources Limited (LON:LND) has declared its summer drilling campaign at its Junior Lake property in Ontario a success.
Drilling at Junior Lake has successfully identified a second significant gold mineralised zone 400 metres along strike to the west of the existing BAM gold deposit.
READ: Landore Resources looks forward to big BAM milestones in coming months
The above zone, which remains open to the west and at depth, extends for 500 metres and has been drilled to a vertical depth of around 220 metres.
The recently completed summer drilling campaign of 12,673 metres, drilled predominantly within the aforementioned zone, successfully intersected widespread gold mineralisation of similar widths and grade to the existing BAM gold deposit with multiple instances of visible gold.
Intersections included drill hole 0418-664 reporting 31.24 metres at 1.30 grams/tonne gold (g/t) and drill hole 0418-665 reporting 1 metre at 28.80g/t.
Results not previously reported include:
Easting |
Northing |
Drill-hole no. |
Interval (metres) |
Gold g/t |
1100E |
250N |
0418-666 |
0.80 |
12.10 |
|
|
|
4.15 |
3.36 |
1200E |
275N |
0418-665 |
2.94 |
11.84 |
|
|
including |
1.00 |
28.80 |
|
|
and |
32.89 |
1.03 |
|
|
including |
4.00 |
5.30 |
|
|
and |
5.00 |
2.65 |
1300E |
250N |
0418-664 |
31.24 |
1.30 |
1350E |
275N |
0418-671 |
1.00 |
11.95 |
|
|
and |
15.61 |
1.43 |
|
|
and |
10.71 |
1.77 |
|
|
including |
0.82 |
10.20 |
1350E |
225N |
0418-672 |
9.46 |
0.79 |
|
|
and |
4.40 |
5.29 |
1400E |
225N |
0418-663 |
5.63 |
1.70 |
|
|
and |
11.95 |
2.17 |
1450E |
200N |
0418-669 |
17.55 |
0.72 |
|
|
and |
6.97 |
2.56 |
|
|
including |
1.10 |
8.00 |
1500E |
190N |
0418-661 |
34.49 |
0.80 |
|
|
including |
10.12 |
1.46 |
Results are pending for 11 drill holes and will be reported when received and collated.
Landore said the results of the drilling campaign will be incorporated into an updated mineral resource estimate scheduled for completion before the end of the year.
The resource estimate will itself be incorporated into a preliminary economic assessment, which is expected to be completed in the first quarter of 2019.
"This summer's drilling campaign has successfully identified additional widespread gold mineralisation along strike from the existing BAM gold deposit, all potentially mineable by low-cost open pit operations,” declared Bill Humphries, the chief executive officer of Landore.
“Both the new zone and the existing BAM gold deposit are within structurally controlled westward plunging lenses. Such repetition bodes well for future discoveries along the 31-kilometre shear structure traversing our property," he added.
Shares in Landore were up 3.4% at 1.52p in the first half-hour of trading.