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Landore Resources Ltd.

Landore surges after drilling discovers gold mineralisation between Junior Lake deposits

The AIM-listed miner said drilling in the gap between the BAM East Gold Deposit and the original BAM Deposit had intersected widespread gold mineralisation

Gold bars
The group said the results to date had been “highly promising”

Landore Resources Limited (LON:LND) saw its shares surge in mid-morning trading Wednesday after its infill drill programme discovered “widespread gold mineralisation” between the BAM East and BAM gold deposits at its Junior Lake property in Ontario.

The AIM-listed miner said it had drilled every 100 metres from 1200E to 1900E in the 900-metre gap between the BAM East Gold Deposit and the original BAM Deposit, and had intersected widespread gold mineralisation within a similar lithological package to the two deposits with multiple instances of visible gold.

READ: Landore Resources commences drilling at BAM East gold deposit

The group added that the results to date had been “highly promising”, with wide near-surface intersections of up to 41.27 metres at 1.10g/t in drill hole 0417-628, and high-grade gold including 24.90 grams per tonne gold (g/t Au) in drill-hole 0418-631.

In a previous announcement in April, Landore said the infill drilling between the BAM and BAM East deposits had the potential to expand, and possibly connect, the two areas and establish additional mineral resources.

Landore Resources chief executive, Bill Humphries, said: "The current infill drill programme shows that the gold mineralisation continues between the two deposits, almost doubling the overall length of the combined deposits to approximately 2,000 metres with excellent potential to add considerable ounces to the resource.

He added: “The fact that the BAM gold mineralisation delineated to date remains open both to the East and West and down dip/plunge clearly demonstrates this discovery's huge potential."

Landore shares were up 10.3% at 1.6p.

--Adds share price--

Quick facts: Landore Resources Ltd.

Price: £0.01

Market: AIM
Market Cap: £9.1 m
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Watch

Landore Resources pushing BAM East development 'as quickly as they can'

Richard Prickett, finance director of Landore Resources Limited (LON:LND) discusses the firm's results to the end of December 2016 and says they have another busy work programme lined up for 2017.

on 31/5/17

2 min read