Progress Report

RNS Number : 2559I

Landore Resources Limited

09 March 2010

 



LANDORE RESOURCES LIMITED

PROGRESS REPORT

JUNIOR LAKE-LAMAUNE GOLD PROSPECT

MIMINISKA LAKE GOLD PROJECT

Highlights: 

Drilling continues to intersect widespread gold mineralization on the Junior Lake-Lamaune Gold Prospect including 0.6 metres @ 118.66g/t gold (Au) in drill-hole 1110-88. The Lamaune Gold Prospect was discovered by Landore in late 2009.

An Independent Technical Review completed on the Miminiska Gold property in 2009 identified two exploration targets with a combined potential of 503,000 tonnes at 5.34g/t Au for 86,357 ounces of gold. The targets are open in both directions and down dip.

Landore has staked an additional 41 mining claim blocks, for 9,472 hectares in the highly prospective Keezhik Lake area, located 20 kilometres north of Landore's Miminiska Lake property and 150 kilometres south east of Goldcorp's Musselwhite Mine.

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 nickel 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:

In October 2009, a significant gold discovery was reported on the Junior Lake Property in the vicinity of the Lamaune Iron deposit with drilling intersecting widespread gold mineralization over 200 metres of strike extent.

Drilling re-commenced on the Lamaune Gold Prospect in January and to date 18 drill holes (1110-84 to 1110-101) have been completed for a total of 2,748 metres.

Mineralized intersections not previously reported include:

Drill-hole	From	Intersection	Gold
No	Metres	Metres	g/t
1110-84	7.00	1.50	1.02
1110-85	15.25	1.95	5.68
including	16.60	0.60	15.69
1110-86	44.65	10.35	0.56
1110-88	73.80	0.60	118.66
and	123.00	10.50	0.44
1110-89	67.95	4.40	1.19

Visible gold has been observed in 6 drill-holes at the Lamaune Gold Prospect.

Drilling continues to confirm the presence of gold mineralization with the identification of two distinct zones; a southern wide, low grade gold zone and a northern narrow, high grade zone containing significant gold intersections. These zones appear to be continuous and remain open along strike in both directions and at depth.

The recent drill results continue to be encouraging. Drilling is ongoing and further results are pending.

Miminiska Lake property:

Landore's Miminiska Lake property islocated approximately 130 kilometres to the north of the Junior Lake Property and 115 kilometres to the east of the Pickle Lake mining camp in the highly productive and prospective Uchi Belt.

An independent technical review was completed in 2009 on the Miminiska Lake Property which established the presence of two exploration targets:

·     Miminiska Lake - 232,000 tonnes @ 5.62 g/t gold

·     Frond Lake -         271,000 tonnes @ 5.10 g/t gold

For a total of 503,000 tonnes at 5.34g/t for 86,357 ounces of gold.

Both these exploration targets are open along strike and at depth and have good potential for expansion and upgrading to a mineral resource.

Miminiska Lake and Frond Lake are 12 kilometres apart, separated by Landore's relatively unexplored Wottam claims. Drilling and prospecting on the Wottam claims has identified similar geology to that of the two exploration targets giving Wottam the potential to host additional gold deposits.

A drilling program of 2,500m has been scheduled to commence in the third quarter of 2010 to increase their confidence level and expand the exploration targets in addition to exploring the Wottam Lake Claims.

Keezhik Lake Property

Landore has staked an additional 41 claim blocks, for approximately 9,470 hectares, in the highly prospective Keezhik Lake area, located 20 kilometres north of Landore's Miminiska Lake property.

The Keezhik Lake area is adjacent to the North-Caribou - Totogan Shear Zone that is also host to Goldcorp's Musselwhite mine, located 150 kilometers to the north-west. The Musselwhite mine has produced in excess of 2.5 million ounces with 2 million ounces of gold in mineral reserve. The new Keezhik Lake claims are also located in the highly productive and prospective Uchi Belt.

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 Nominated Adviser/Joint Broker Ewan Leggat                                                                                                       Fairfax I.S. PLC Joint Broker	Tel: [phone] Tel: [phone]
David Bick	Tel: [phone]

 

END

 

 

MSCQVLFBBXFLBBB