JUNIOR LAKE GOLD DISCOVERY

RNS Number : 4915D

Landore Resources Limited

03 December 2009

 



LANDORE RESOURCES LIMITED

SIGNIFICANT GOLD DISCOVERY

JUNIOR LAKE PROPERTY

HIGHLIGHTS

• A significant gold discovery has been made at the Junior Lake property in the vicinity of the Lamaune Iron deposit with drilling intersecting widespread gold mineralization over 200 metres of strike extent in the first area tested. Results include 3.0 metres @ 9.14g/t gold (Au), including 0.6 metres @ 35.63g/t Au, in drill hole 1109-75. 

• Following the discovery Landore staked an additional 80 Mining claim blocks, for 17,216 Hectares, predominantly to the north of the new gold discovery, effectively doubling the size of the Junior Lake property to 31,953 Hectares.  

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, numerous other highly prospective mineral occurrences and the recently discovered Lamaune Gold Prospect.

Lamaune Gold Prospect:

Drilling carried out during the 2008/9 campaigns on the Lamaune Iron deposit frequently intersected anomalous gold values, including drill hole 1109-67 on the eastern end of the deposit, which intersected 5.88 metres @ 2.36g/t Au, including 1.38 metres @ 7.45g/t Au.

A subsequent geological review of all anomalous gold intercepts on Junior Lake, including historic showings, identified the zone around drill hole 1109-67, now named the Lamaune Gold prospect, as being one of the more favourable areas for gold exploration.

In October, a small drilling campaign, consisting of 11 diamond core NQ drill holes, for a total of 1,798 metres, was completed over 200 metres of strike extent at the Lamaune Gold prospect.

Mineralized intersections include:

Drill-hole	From	Intersection	Gold
No	Metres	Metres	g/t
1109-75	41.00	3.00	9.14
including	42.18	0.60	35.63
1109-76	145.00	1.00	4.55
1109-82	88.63	0.50	53.12
1109-83	57.50	21.50	0.99
including	60.50	5.37	1.47
and	71.50	1.50	3.35

Drill hole 1109-82 was drilled as a 'scissor hole' to the high grade intersection in drill hole 1109-75.

Several other wide zones of broad anomalous gold mineralization have been intersected in the same drilling program.

The presence of both high grade veins and wider zones of anomalous gold mineralization are particularly encouraging at this stage of discovery and will be further explored in the next drilling campaign on the Lamaune Gold prospect scheduled to commence in January 2010.

High grade gold was also encountered in the exploration drilling program completed this year on the area between the VW Nickel deposit and the B4-7 Nickel-Copper-Cobalt deposit, the 'Whale Zone', with drill hole 0409-252 intersecting 0.75 metres @ 26.10g/t Au. This zone is 12 kilometres to the east of the Lamaune Gold prospect and runs parallel and adjacent to the BAM gold zone. 

In addition, historical gold showings on the Junior lake property include 1.02 metres @ 2.37g/t Au drilled by Placer Dome in 1988 at the western end of the property and 3.0 metres @ 13.44g/t Au in trench sampling recorded by the Ontario Department of Mines in 1968 at the eastern end of the property.

These significant results are the first to be reported from drilling in this part of the Caribou O'Sullivan Archean Greenstone Belt in which the Junior Lake property is located. The gold mineralization itself is typical of mesothermal-shear hosted-vein deposits that are found in many major mining centres throughout the world. Prospective geological structures can be traced over the entire Junior Lake property length and are associated with the geological terrain boundary between rocks of the Wabigoon and English River Subprovinces. Mineralized rocks are foliated/sheared metovolcanics and iron formations, often with the presence of large porphyroblastic garnets and quartz veins.

The mineralogy of the discovery is simple and the gold occurs as 'native gold' with gangue of quartz, calcite and muscovite and sulphides, of arsenopyrite and pyrrhotite. Visible gold has been observed in 4 drill holes of the Lamaune Gold prospect and one on the Whale Zone prospect.

The highly encouraging drill results from the recent campaign on the Lamaune Gold prospect together with the results from the geological review, the historical information and the favourable lithologies and geological structures support the potential for economic gold mineralization on the Junior lake property.  

Following the discovery of the Lamaune Gold prospect, Landore staked an additional 80 Mining claim blocks, for 17,216 Hectares, predominantly to the north of the new gold discovery, effectively doubling the size of the Junior Lake property to 31,953 Hectares. The new area is believed to have similar Archean greenstone geology to that of the existing Junior Lake property and to be highly prospective for gold, nickel, copper, cobalt, lithium and platinum group elements. 

Andrew Cheatle, (P. Geo., MBA, FGS, ARSM), General Manager of Landore Resources Canada Inc 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/Angela Peace Strand Hanson Limited	Tel: [phone]
David Bick	Tel: [phone]

 

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