Progress Update

RNS Number : 9321C

Landore Resources Limited

24 March 2014

 



LANDORE RESOURCES LIMITED

(AIM Ticker: LND.L)

 

24 March 2014

PROGRESS UPDATE

3-DIMENSIONAL GEOPHYSICS SURVEY COMPLETED ON

B4-7 and VW NICKEL TRENDS

JUNIOR LAKE NICKEL-COPPER PROPERTY

London, United Kingdom - 24 March 2014 - Landore Resources Limited (AIM:LND)("Landore Resources" or the "Company") today announces a progress update of a 3D DCIP + MT geophysics survey on the Junior Lake Property, Ontario, Canada.

Highlights:

·     Landore Resources recently completed a deep-penetrating Quantec ORION 3D Direct Current Induced Polarization and Magnetotellurics ("DCIP + MT") geophysical survey over the highly prospective B4-7 and VW Nickel Trends.  

·     Preliminary results of the DCIP data, representing approximately 700 metres depth below surface over an area of 3.4 x 2.2 kilometres, are encouraging, indicating the potential for further significant nickel-copper bearing sulphide mineralisation along the B4-7 and VW Nickel Trends. Final results are anticipated to be available in early May.

·     A 4,000 metre drill programme is scheduled to commence on 7 July 2014 to test prospective targets identified by the December 2013 ground Electromagnetic (MaxMin), VLF and Magnetic geophysical surveys, as well as the January 2014 3D DCIP + MT ground geophysical survey.

Commenting on this report, the Chairman of Landore Resources, Bill Humphries, said:

"Results from the preliminary data from this survey are highly encouraging indicating the potential to significantly grow the existing B4-7 and VW deposits together with identifying other similar occurrences in this exciting Junior Lake mineralised zone." 

The Junior Lake property:

The Junior Lake property, 100% owned by Landore Resources, is located in the province of Ontario, Canada, approximately 235 kilometres north-northeast of Thunder Bay, and is host to; the Scorpion Zone which contains the B4-7 Nickel-Copper-Cobalt-PGEs deposit, the Alpha Zone and the recently-identified Exploration Target. Junior Lake also contains the VW Nickel deposit and numerous other highly prospective mineral occurrences.

In September 2013, Landore Resources retained Quantec Geoscience, of Toronto, Canada ("Quantec") for the completion of an additional DCIP+MT ground geophysical survey over the B4-7 and VW Nickel Trends. The field survey commenced on 19 January and concluded on 10 February 2014.

The survey block spans from grid line 300E to 3700E and line 700N to 1500S, and is located directly adjacent to the east of Landore Resources' 2012 ORION 3D DCIP+MT survey block covering the Scorpion Zone. Preliminary findings are nearing completion with final results anticipated becoming available in May.

The DCIP + MT survey results will be utilized to delineate additional resource mineralisation at the B4-7 and VW deposits and to identify new potential sulphide mineralisation within the intervening 3 kilometre distance between the two deposits.

2014 Planned Works: A 4,000 metre drill programme is scheduled to commence on 7 July 2014 to test prospective targets identified by the December 2013 ground Electromagnetic (MaxMin), VLF and Magnetic geophysical surveys, as well as the January 2014 3D DCIP + MT ground geophysical survey.

Further information including an overview map of the January 2014 ORION 3D DCIP + MT survey area is available on www.landore.com

Michele Tuomi, (P.Geo., BSc. Geology), Director/VP Exploration 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.

- ENDS -

About Landore Resources

Landore Resources is an exploration company that seeks to grow shareholder value through the acquisition, exploration and development of precious and base metal projects in eastern Canada. The Company is primarily focused on the development of the Junior Lake Nickel Project. Landore Resources has mineral rights to 6 properties in eastern Canada.  The Company is headquartered in London, UK, with an exploration office located in Thunder Bay, Ontario, Canada.

For more information please contact:

Bill Humphries, Chairman Richard Prickett, Chief Executive Officer     Landore Resources Limited	Tel: [phone] Tel: [phone] www.landore.com
Angela Hallett / James Spinney Strand Hanson Limited Nominated Adviser David Bick	Tel: [phone] Tel: [phone]

 

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