Work has begun on a new resource estimate for Landore Resources' (LON:LND) B4-7 deposit in Ontario, the company revealed today in its latest drilling update.
The new NI43-101 estimate is earmarked to be completed in the fourth quarter this year.
North-America focused Landore also outlined plans for a drilling programme of 14 holes for 7,000 metres to confirm the western extension of the B4-7 deposit also to begin in Q4 this year.
Drilling so far this year has significantly extended the B4-7 deposit - part of the huge Junior Lake prospect - down dip and along strike to the west.
B4-7 deposit and the adjacent B4-8 prospect to the west lie within a magnetic anomaly known as the Scorpion zone, which plays hosts to a collective potential massive sulphide mineralisation strike length of 1.5km.
Recent results from a drilling campaign on the B4-7 deposit showed massive sulphide mineralisation with grades of more than 1 percent nickel and meaningful credits of copper, cobalt and platinum group metals.
Landore has said already the results have significantly increased the potential tonnage amenable to open pit development.
The firm's chairman, Bill Humphries today added:
"This drilling has also demonstrated that the existing resource has a high probability of being grown very substantially through strike and depth extension drilling, which has greatly enhanced the economic viability of the Junior Lake Nickel-Copper Project".
Pre-feasibility studies on the combined B4-7 and the VW deposits will begin in the first quarter of 2013.