Landore Resources Limited
25 March 2008
LANDORE RESOURCES LIMITED
(AIM Ticker: LND.L)
WEST GRAHAM-FIRST NICKEL OPTION
DRILLING UPDATE
First Nickel is carrying out exploration on Landore's West Graham property and
the following is an extract from their recently published results.
-BEGINS-
FIRST NICKEL INTERSECTS 86.70 METRES OF 0.55% NI AND 0.43% CU ON WEST GRAHAM
March 25, 2008 - Toronto, Ontario - First Nickel Inc. (FNI-TSX) is pleased to
report the results of 22 diamond drill holes representing 5,469 metres of
diamond drilling on the West Graham Property during the 2007 exploration program
and the first two holes of the 2008 exploration program (see the attached plan
map for drill hole locations). The West Graham property is under option from
Landore Resources Canada Inc. and the details of the option agreement were
provided in a press release dated August 4, 2005.
The current drill program has been designed to provide the drill density
required to complete an NI 43-101 compliant Resource Estimate on the Conwest
Deposit (which forms part of the West Graham Property) in 2008. The drill
program has been expanded to a total of 10,000 metres based on the results to
date and is scheduled for completion in June 2008. The new NI 43-101 Resource
Estimate will be completed after all analytical results have been received and
modeled for 2007-2008 drill program.
Results to date have met expectations based on the previous exploration programs
completed by First Nickel. Highlights of the drill program include FNI2045 with
0.59% Ni and 0.44% Cu over 70.20 metres, including 1.14% Ni and 0.60% Cu over
10.50 metres; and FNI2050 with 0.55% Ni and 0.43% Cu over 86.70 metres,
including 1.15% Ni and 0.71% Cu over 12.70 metres. The following table
summarizes the significant analytical results from the ongoing drill program.
The Conwest Deposit was estimated in the 1960's to have a mineral inventory of
4.3 million tons grading 0.53% nickel and 0.33% copper. This historic resource
predates the implementation of NI 43-101 standards and guidelines and should be
considered non-compliant. At depth the Conwest Deposit is interpreted to be
contiguous with the Lockerby East zone.
The diamond drilling program is being carried out under the supervision of First
Nickel's Senior Geologist, Scot Halladay, P.Geo., a 'qualified person' as
defined by National Instrument 43-101. The information in this release was
prepared under the direction of Paul Davis, P.Geo., Vice President of
Exploration for First Nickel Inc., a 'qualified person' as defined by National
Instrument 43-101. First Nickel Inc. follows a rigorous QA/QC protocol on all of
its exploration projects. Drill core of interest (NQ size) is sawn in half, with
one half retained for future reference and one half sent to a commercial
laboratory, SGS Laboratories in Garson for preparation and specific gravity
measurements and shipped internally by SGS to Toronto for assay. A rigorous
quality assurance/quality control program is employed which includes the
insertion of standards and blanks for each batch of samples.
Drill
From To Length Ni Cu Co Pt Pd Au Ag
Hole ID (m) (m) (m) (%) (%) (%) (ppm) (ppm) (ppm) (ppm)
FNI2031 396.00 450.00 54.00 0.59 0.39 0.02 0.17 0.03 0.06 3.18
FNI2032 45.00 71.15 26.15 0.41 0.21 0.01 0.09 0.03 0.04 2.13
FNI2034 103.50 114.00 10.50 0.46 0.31 0.01 0.06 0.03 0.03 2.47
FNI2035 108.00 114.00 36.50 0.61 0.34 0.02 0.07 0.03 0.03 3.46
incl. 124.70 131.80 7.10 1.16 0.50 0.04 0.08 0.04 0.03 3.65
FNI2039 96.00 159.00 63.00 0.40 0.24 0.01 0.07 0.03 0.03 2.27
FNI2040 139.50 148.50 9.00 0.43 0.35 0.02 0.06 0.02 0.03 4.38
FNI2041 118.50 180.00 61.50 0.46 0.35 0.01 0.06 0.03 0.02 2.69
incl. 168.00 177.00 9.00 1.03 0.53 0.03 0.11 0.04 0.03 4.69
FNI2043 138.30 201.00 62.70 0.39 0.32 0.01 0.08 0.02 0.03 3.18
FNI2044 153.10 207.15 54.05 0.45 0.25 0.01 0.06 0.03 0.04 2.83
incl 192.90 195.15 2.25 1.76 0.30 0.05 0.06 0.08 0.03 3.55
FNI2045 239.90 310.10 70.20 0.59 0.44 0.01 0.12 0.03 0.05 5.92
incl. 279.00 289.50 10.50 1.14 0.60 0.03 0.13 0.05 0.06 4.44
FNI2046 246.90 333.00 86.10 0.45 0.28 0.01 0.11 0.03 0.03 3.29
incl. 294.85 295.55 0.70 5.81 0.10 0.12 0.10 0.04 0.00 4.62
FNI2047 330.00 339.00 9.00 0.70 0.58 0.03 0.22 0.04 0.09 4.93
FNI2048 233.00 246.50 13.50 0.49 0.32 0.02 0.22 0.04 0.05 2.89
FNI2049 237.70 259.20 21.50 0.40 0.26 0.01 0.07 0.03 0.03 3.20
FNI2050 280.90 367.60 86.70 0.55 0.43 0.02 0.14 0.03 0.05 4.75
incl. 316.70 329.40 12.70 1.15 0.71 0.04 0.15 0.05 0.05 5.74
All assay intervals reported are core length and do not represent true widths
(defined as being measured at right angles to the direction of extension of the
sulphide body). All other assay samples are pending analysis.
First Nickel is a Canadian mining and exploration company. Its current
activities are primarily focused on the Sudbury Basin in northern Ontario, the
location of the company's producing property (the Lockerby Mine) and four of its
exploration properties. First Nickel also has two exploration properties in the
Timmins region of northern Ontario. First Nickel's shares are traded on the TSX
under the symbol FNI.
- ENDS -
For more information please contact:
Bill Humphries, Chairman Tel: 07734 681262
Richard Prickett, Chief Executive Tel: 07775 651421
Landore Resources Limited
Simon Raggett
Strand Partners Limited Tel: 020 7409 3494
David Bick Tel: 07831 381201
This information is provided by RNS
The company news service from the London Stock Exchange
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