07:00 Wed 03 Mar 2021
Landore Resources Ld - Junior Lake Property BAM Gold & Battery Metals
LANDORE RESOURCES LIMITED
(AIM Ticker: LND.L)
JUNIOR LAKE PROPERTY
BAM Gold Deposit
The Drilling Programme is proceeding as scheduled with results received to-date confirming the depth and length extensions of the BAM west pit. In addition drilling to the east and west of the BAM Gold Deposit has successfully intersected the favourable lithology and mineralized structures associated with the BAM Gold Deposit. Assay results will be reported once received and collated.
Battery Metals
The growing adoption of electric vehicles (EVs) is driving the increasing demand for nickel, cobalt and lithium ("Battery Metals") - which are each critical metals used as cathode materials for lithium-ion batteries in the automotive industry, as well as the energy and electronics industries.
In addition to advancing the BAM Gold Deposit on which Landore remains focused, the Company is encouraged by the increased demand for 'Battery Metals' as Landore's highly prospective
RESOURCES: -
· B4-7
· VW Nickel-Copper-Cobalt Deposit: - 1,084,000 tonnes at 0.71%NiEq in the indicated category and 180,000 tonnes at 0.68%NiEq in the inferred category for a total of 8,920 tonnes of contained metal.
· The
Commenting on this report, the Chief Executive Officer of Landore Resources,
"Since its discovery in late 2015 Landore has focused its efforts on advancing the BAM Gold Deposit, having successfully completed a positive Preliminary Economic Assessment (2019) and other preparatory works necessary for Pre-Feasibility stage. Before that, Landore had concentrated on advancing its Junior Lake Nickel-Copper-Cobalt-PGE projects to Pre-Feasibility level. However, after the 2012 commodities price crash the development of these projects was placed on hold.
With the burgeoning demand and increase in world prices for Battery Metals, the Board considers these projects to be viable once again, significantly adding to the overall value of Landore's highly prospective
JUNIOR LAKE NICKEL-COPPER-
The Junior Lake Ni-Cu-Co-PGE deposits and prospects are located along the southern margin of a major zoned gabbro complex named the 'Grassy Pond sill'. The sill is situated within a shear zone along the highly prospective Archean greenstone belt traversing the Junior
B4-7
· The open pit component of the B4-7 Deposit is 1,772,000 tonnes at 1.20% NiEq in the Indicated category for 21,264 tonnes of contained metal.
· An exploration target has been identified down dip from the B4-7 resource which may contain a potential 1.5 Mt to 2.0 Mt of sulphide mineralisation of similar grade range to that which has been outlined to-date (potential 18,000 to 24,000 tonnes of contained metal).
VW Nickel-Copper-cobalt Deposit:
The VW Deposit, discovered in 2005, is a nickel-copper-cobalt ± PGE ± gold-bearing, disseminated to veined sulphide deposit dominated by pyrrhotite, potentially of epigenetic, hydrothermal origin.
The 2018 resource estimate, using a cut-off NSR value of
· Indicated: - 1.08 million tonnes at 0.71 per cent. NiEq.
· Inferred: - 0.18 million tonnes at 0.68 per cent. NiEq.
ADDITIONAL NI-CU-CO-PGE PROSPECTS:
In addition to the B4-7 and VW Deposits, the Junior Lake property is host to numerous polymetallic prospects, including the following:
Located along a magnetic conductor 1 kilometre to the west and along strike from the B4-7 Deposit with exploration drilling reporting 5.58 metres at 0.59% Ni, 0.29% Cu, and 0.07% Co. A coincident magnetic anomaly hosts further potential, extending approximately 900 metres westwards from the B4-8 conductor before curling north with the
Located 4 kilometres to the west and along strike from the B4-7 Deposit. Past exploration drilling yielded encouraging results including 0.7 metres at 0.39% Ni, 0.43% Cu and 0.77grams/tonne Au in drill-hole 1108-30.
Located 11 kilometres to the west and along strike from the B4-7 Deposit with past exploration drilling reporting 18.3m at 0.34% Ni, 0.32% Cu, and 0.03% Co.
JUNIOR LAKE LITHIUM PROSPECTS:
Landore has three known lithium occurrences on its Junior Lake property:
· The historical Despard Lithium deposit. (Ontario Department of Mines, Geological Report No. 55, Crescent lake Area, by
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For more information see Landore's website www.landore.com.
The Junior
The Junior
Covid-19
The Company is following Government Covid-19 guidelines in its operations in
- 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
For more information, please contact:
Landore Resources Limited |
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Tel: 07734 681262 |
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Tel: 07730 420318 |
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Cenkos Securities (Nominated Advisor and Broker) |
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Tel: 0131 220 9100 |
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