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Landore Resources Limited is an AIM listed holding company for its 100% owned reporting subsidiary Landore Resources Canada Inc. Landore Canada is engaged in mineral exploration and development, with the present focus of its operations being mineral exploration in Ontario, Quebec and New Brunswick, Canada. Landore Canada’s principal properties are the “Junior Lake Property” and the “Miminiska Lake Property”, both located in the Thunder Bay Mining District, Ontario, Canada. Landore Canada is also the owner of other properties in Canada and Nevada in the US containing gold and base metal drill intersections. The Group’s objective is to become a successful mineral explorer and create capital growth for Shareholders through the discovery of economic mineral deposits.
Landore reveals three new areas of "significant" nickel mineralisation at Junior Lake
Canada-focused Landore Resources (LON:LND) has uncovered three new areas of "significant" nickel mineralisation at its main Junior Lake property in Ontario, it revealed today.
A highlight was at the B4-8 zone, which recorded an encouraging intersection of 5.58 metres at 0.59 percent nickel and 0.29 percent copper from drill hole 0411-301, said Landore.
The AIM-listed firm said that drilling this spring and summer will now focus on bringing one or more of these areas to potential resource status.
The 100% Junior Lake property lies around 235km north-northeast of Thunder Bay.
It plays host to the VW Nickel deposit, the B4-7 Nickel-Copper-Cobalt-PGEs (Platinum Group Elements) deposit, the Lamaune Iron deposit, the Lamaune Gold prospect, and many other prospective mineral occurrences.
In February 2011, six diamond drill holes, for 1,347 metres, were completed on the B4-8 - located to the west of the firm's B4-7 Nickel-Copper-Cobalt-Platinum Group Elements (PGEs) deposit.
The drilling intersected massive sulphide mineralisation similar to the adjacent B4-7 deposit, including the result given above.
Drilling on the B4-8 has now restarted - aiming to extend this potential new Ni-Cu shoot, said the company.
At the VW-B4-7 trend, the firm carried out a campaign this quarter of 17 diamond drill holes (3,663m) to investigate the nickel potential west of the VW deposit towards the B4-7 deposit.
Drilling focused on an east-west trending geophysical anomaly extending between the two deposits and returned several anomalous nickel intersections - including 3 metres at 0.23 percent Ni from drill hole 0411-294, and 2.5 metres at 0.39 percent Ni from drill hole 0411-288.
Anomalous gold values were also intersected, including 1.25 metres at 1.37 g/t gold from hole 0410-285, and 1.5 metres at 0.22 g/t gold with 0.65 percent Cu from drill hole 0411-292.
Landore said further drilling was warranted and is due to begin in the third quarter this year.
At the Swole Lake prospect - 4,8km north of B4-7, historical work and that conducted by Landore in 2009 and 2010, identified the potential for economic grades of nickel and lithium-bearing pegmatite.
Ten exploration holes (for 1,441m) in Q1 2011 were completed with drill hole 0411-305 intersecting 1.2 metres at 0.98 percent Ni, 0.70 percent Cu, 0.02 per cent cobalt with significant PGE credits, said the company.
Drilling targeted at extending this nickel occurrence is also due to begin in Q3.
The combined resources of the VW and B4-7 deposits delineated to date total NI43-101 48,281 tonnes of nickel equivalent, 82 percent of which is in the indicated category. Both deposits remain open down dip and along strike to the east and west.
Landore believes that for the Junior Lake Nickel project to be economically viable, the above tonnage needs to be increased by 20 to 30 percent. Accordingly, during the autumn and winter of 2010/11 the exploration campaign has been focused towards the discovery of additional nickel mineralisation in the vicinity of the two main deposits.
