Drilling Update

RNS Number : 7213W

Landore Resources Limited

03 August 2009

 



LANDORE RESOURCES LIMITED

(AIM Ticker: LND.L)

DRILLING UPDATE

JUNIOR LAKE PROPERTY

LAMAUNE IRON DEPOSIT

B4-7 NICKEL PROJECT

HIGHLIGHTS

• A second drilling and trenching campaign has commenced on the Lamaune Iron Deposit, located at the western end of the Junior Lake Property, to confirm anomalies delineated by the recently completed helicopter-borne 'Impulse' geophysical survey and to provide material for metallurgical testing.

• Results from the recently completed drilling campaign on the B4-7 nickel-copper-cobalt-platinum group elements (Ni-Cu-Co-PGE) deposit continue to report wide zones of mineralization containing high grade nickel. The deposit, delineated to date over 650 metres of strike, remains open along strike and down plunge to the north-west.

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 VW Nickel Deposit, the B4-7 Deposit, the Lamaune Iron Deposit, the BAM zone gold occurrence and numerous other highly prospective mineral occurrences.

Lamaune Iron Deposit:

In October 2008, Landore reported that exploration, including geophysical surveys, trenching and drilling, had confirmed the presence of a large magnetite iron deposit at the western end of the Junior Lake property.

The Lamaune Iron Deposit is just 11 kilometres from the Canadian National Railway providing direct access to the Port of Thunder Bay on Lake Superior. The port still has much of the infrastructure used by Steep Rock Iron Mines to ship Iron ore to the iron mills of North America.

In addition the iron deposit has abundant water resources nearby and is just 20 kilometres from the planned Hydropower on the Little Jackfish River.

The positive results of the exploration, together with the potential access to excellent infrastructure in the vicinity, were sufficiently encouraging for Landore to advance the Lamaune Iron deposit towards resource status.

In February 2009, a Helicopter-borne 'Impulse' geophysical survey was completed along a 12 kilometre trend over the western part of the Junior lake property, which included the Lamaune Iron Deposit area and possible extensions to the east and west.  In all, 724 line kilometres were completed at 50 metre spacing.

The 'Impulse' geophysical survey was selected to more clearly define the anomalies identified in the previous ground and air-borne magnetic surveys and to identify anomalies in the newly acquired western extension of the Junior Lake property.

The survey has proven highly successful in the identification of magnetite rich anomalies.

A second campaign, consisting of 1,200 metres of trenching and 7,000 metres of drilling, commenced in late June. The trenches and drill-holes have been planned to give even coverage along approximately 5 kilometres of the central part of the trend.

To date 13 trenches for a total of 720 metres have been excavated and 15 drill-holes for a total of 3,199 metres have been drilled. Cutting and sampling is in progress.  Results are pending.  Sampling is also being undertaken for metallurgical and beneficiation testing.

B4-7 Deposit:

In May of 2008, Landore reported an Inferred resource estimate for the B4-7 Deposit of 4,650,000 tonnes at 0.55% Nickel Equivalent (NiEq) (nickel plus copper-cobalt-PGE credits). 

An infill drill programme, consisting of 42 NQ size holes for a total of 8,764 metres, has recently been completed on the B4-7 Deposit. The programme was designed to provide sufficient information and drill density to advance the deposit to Indicated status. Additional metallurgical testing will be completed using core from the present program.

Mineralized intersections not previously reported include:

Drill-hole	From	Width	Nickel	Copper	Cobalt	Platinum	Palladium
No	Metres	Metres	%	%	%	g/t	g/t
0419-223	228.30	12.78	0.83	0.49	0.08	0.08	0.66
including	229.35	1.00	1.06	0.24	0.09	0.21	0.57
including	235.50	1.00	1.05	0.72	0.09	0.05	0.83
0419-233	66.98	14.84	0.48	0.49	0.05	<0.01	0.07
0419-234	150.62	12.25	0.65	0.32	0.05	0.01	0.02
0419-235	87.97	10.89	0.65	0.28	0.05	0.26	0.64
including	91.40	1.00	1.01	0.18	0.06	0.43	1.40
including	95.00	1.00	1.03	0.09	0.06	0.28	0.13
0419-237	33.00	2.00	0.39	0.08	0.02	1.99	7.54
and	59.16	0.59	1.45	0.31	0.06	1.32	5.18

Assay results are pending for the last 6 drill-holes. 

Landore has appointed Scott Wilson Roscoe Postle Associates Inc. (Scott Wilson RPA), consulting and engineering group from Toronto, Canada, to prepare a Canadian National Instrument 43-101 (NI43-101) compliant resource estimate upgrade on the B4-7 deposit.

The drill campaign has shown that the B4-7 deposit remains open to the west along strike and down plunge to the north-west. A previously completed airborne electromagnetic survey suggests the conductive horizon hosting the B4-7 deposit persists for an additional 500 meters to the west.

All drill-core was photographed prior to being cut for assaying. Samples were analyzed at Accurassay Laboratories (ISO/IEC 17025), Thunder Bay, Ontario, by geochemical analysis with atomic absorption finish (Ni). All samples reporting results of 1% nickel or higher are re-analysed by the single assay method with atomic absorption finish. Check assays, blanks, standards and laboratory duplicates are performed on a systematic basis at Accurassay Laboratories.  Actlabs Laboratory in Thunder Bay, Ontario is used for systematic checks. Core is stored on site and in Landore's secure facilities in Thunder Bay, Ontario. Rejects are stored at Landore's secure facilities in Thunder Bay.

Marc Sale, (BSC. Geology, Fellow AusIMM, member AIG) a consultant to Landore Resources Limited  and a qualified person as defined in the Canadian National Instrument 43-101, has reviewed and verified all scientific or technical mining disclosure contained in this announcement, which is stated in accordance with the Canadian Institute of Mining, Metallurgy and Petroleum.

- ENDS -

For more information please contact:

Bill Humphries, Chairman Richard Prickett, Chief Executive   Landore Resources Limited	Tel: [phone]  Tel: [phone]  www.landore.com
Simon Raggett Strand Partners Limited	Tel: [phone]
David Bick	Tel: [phone]

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