LONDON, UK, Dec. 12, 2012 /CNW/ - Landore Resources (AIM: LND) today announced drilling and a geophysical survey update at the Scorpion Zone of the Junior Lake Nickel-Copper-Cobalt-PGEs Project.
Drilling is in-progress on the western section of the 1,500 metre long Scorpion Zone. Infill drilling conducted between lines 50W and 200W has successfully intersected broad zones containing B4-7 style massive sulphide mineralisation at depth. This mineralisation is associated with significant Nickel and Copper values, as well as notable Cobalt and Palladium.
Assay and lithology information from drill-holes 0412-449, 0412-450 and 0412-452 have been included in the B4-7 resource estimate upgrade, currently in-progress. Results from this resource estimate are anticipated by early Q1 2013.
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 B4-7 Nickel-Copper-Cobalt-PGMs deposit, the VW Nickel deposit, the B4-8 prospect and numerous other highly prospective mineral occurrences.
The combined resources (Canadian National Instrument (NI) 43-101 compliant) of the B4-7 and VW deposits delineated to date, total 48,281 tonnes of nickel equivalent (NiEq), 82 per cent of which is in the Indicated category.
B4-7 Nickel-Copper-Cobalt-PGM deposit:
The B4-7 deposit mineralisation is hosted within a sub-vertical massive sulphide vein with stringers, net-textured and disseminated sulphides in the immediate hanging wall. In Q1 2010, a NI 43-101 compliant report and resource estimate upgrade was completed for the B4-7 deposit. The resource reported 26,521 tonnes at 1.02% NiEq.
About Landore Resources Ltd.
Landore Resources Ltd. 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 Nickel Project, anticipated to enter into pre-feasibility stage Q1 2013. Landore Resources has mineral rights to 5 properties in eastern Canada. The Company is headquartered in Guernsey , UK, with an exploration office located in Thunder Bay, Ontario, Canada.
SOURCE Landore Resources Limited