Landore Resources Limited
31 July 2007
LANDORE RESOURCES LIMITED
(AIM Ticker: LND.L)
PROGRESS REPORT
JUNIOR LAKE-NICKEL PROJECT
Assay results received from holes 0407-119, 120 and 122 drilled on the
westernmost section of the deposit clearly indicate that the nickel grades are
strengthening to the west and remain open along strike. All 3 holes returned
assays greater than 1% nickel with drill-hole 0407-122 reporting an interval of
10 metres at 1.24% nickel. Assays are pending for deeper holes on this section.
Mineralized intersections not previously reported include:
+------------+---------+---------+----------+
| Drill-hole | From | Width | Nickel |
+------------+---------+---------+----------+
| No | Metres | Metres | % |
+------------+---------+---------+----------+
|0407-119 | 112.0| 2.0| 1.24|
| | | | |
+------------+---------+---------+----------+
| | | | |
+------------+---------+---------+----------+
| 0407-120 | 182.0| 12.0| 0.74|
+------------+---------+---------+----------+
| includes | 190.0| 1.0| 1.69|
+------------+---------+---------+----------+
| | 213.0| 9.0| 0.88|
+------------+---------+---------+----------+
| includes | 220.0| 2.0| 1.73|
+------------+---------+---------+----------+
| | | | |
+------------+---------+---------+----------+
| 0407-122 | 259.0| 10.0| 1.24|
+------------+---------+---------+----------+
| includes | 264.0| 1.0| 2.68|
+------------+---------+---------+----------+
| includes | 267.0| 1.0| 2.24|
+------------+---------+---------+----------+
| | 271.8| 5.2| 0.92|
+------------+---------+---------+----------+
| includes | 274.0| 1.0| 1.84|
+------------+---------+---------+----------+
| | | | |
+------------+---------+---------+----------+
| 0407-124A | 314.0| 7.0| 0.89|
+------------+---------+---------+----------+
| includes | 316.0| 3.0| 1.46|
+------------+---------+---------+----------+
Consultant's Opinion
Dr. J. Mungall of the University of Toronto, Consultant to Landore for the
Junior Lake Nickel Project, has interpreted the VW zone as a 'fundamentally
hydrothermal deposit. The VW zone is essentially syngenetic and therefore has
some affinities to volcanogenic massive sulphide (VMS) deposits.'
The main zone of nickel mineralization is associated with a clearly recognizable
unit of extensive alteration that formed over a hydrothermal vent on the
seafloor. This unit appears to thicken in a westerly direction and with depth
suggesting the possible approach toward the centre of the ore generating system.
Increasing thickness of this unit could be a guide to vector to its thickest
part with the hope of finding a vent facies with high grade nickel and/or copper
mineralization.'
Additional drilling is planned to continue testing the westerly strike extension
of the VW zone along fences at 50 metre step-outs as part of the current drill
programme.
The Junior Lake properties are located in the province of Ontario, Canada,
approximately 235 kilometres north-northeast of Thunder Bay and are situated
within the Caribou-O-Sullivan Greenstone Belt in the Wabigoon Subprovince. The
VW Zone Nickel Project is located at Ketchikan Lake toward the south eastern end
of the Junior Lake property.
Diamond drilling resumed on the VW Zone in mid-April with 2 drill rigs. A
campaign of 60 holes for approximately 15,000 metres is underway, with one rig
dedicated to extending the existing inferred resource along strike in both
directions and down dip, with the second rig carrying out infill drilling to
advance the resource to 'Indicated' status, a requirement for pre-feasibility
studies.
To date, 41 holes (0407-99 to 0407-139), for 10,515 metres, have been completed.
Results are pending for 16 of those holes.
At completion of the current campaign, (approximately mid September) the
drilling results will be collated and forwarded to Independent Engineers for a
National Instrument 43-101 Resource upgrade.
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 were re-analysed by the assay method with atomic
absorption finish. Check assays, standards and laboratory duplicates were
performed on a systematic basis at Accurassay Laboratories. ALS Chemex
Laboratory in Vancouver, BC also completed systematic checks. Core is stored at
site and in Landore's facilities in Thunder Bay, Ontario. Rejects are stored at
Accurassay Laboratories and in Landore's facilities in Thunder Bay.
Further releases will be made during the summer period as drilling continues.
James Garber, (BSc. Hons. Geology, member of APGO) a Director of Landore
Resources Ltd 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.
For more information please contact:
Bill Humphries, Chairman Tel: 07734 681262
Richard Prickett, Chief Executive Tel: 07775 651421
Landore Resources Limited www.landore.com
Simon Raggett Tel: 020 7409 3494
Strand Partners Limited
David Bick Tel: 07831 381201
This information is provided by RNS
The company news service from the London Stock Exchange
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