--adds share price, broker comment---
Canada-focused Landore Resources (LON:LND) today set out a timeline of planned works and studies at its Junior Lake project, which is aimed to culminate with an updated NI43-101 resource estimate.
The flagship project in Ontario is prospective for, among other things, nickel, copper, PGE's and gold.
Exploration has already identified a resource of around 33,000 tonnes at the polymetallic B4-7 area, 22,000 tonnes at the mainly nickel VW zone, and a 20,000 tonne 'exploration target' west of B4-7.
Landore said engineers RPA will complete a review and report of the B4-7 and VW deposits to include 2014-2015 drilling campaigns.
As part of this, there will be a re-assessment of the so-called 'Alpha Zone' and 'Exploration Target' for inclusion into the B4-7 resource.
The report, which is scheduled to be complete in the first week of September, will also recommend further drilling, geotechnical and metallurgical work.
Following this and subject to available funding, Landore said it will kick off a second phase of works aimed at optimising the processing and pit parameters on both the B4-7 and VW deposits.
A third phase, currently scheduled to begin in Q4 2015, consists of a definition drilling programme to bring the Exploration Target and Alpha Zone into the NI 43-101-compliant B4-7 resource.
Drilling will also test prospective geophysical targets as have been identified by independent geophysicist Alan King from Sudbury, Canada.
He will review and interpret all survey data acquired by Landore to-date. His report is due for completion in late August this year and will give recommendations for future exploration including drill targeting.
The firm has plans to grow the resource base to over 100,000 tonnes of nickel equivalent (NiEq) and to ultimately sell the project to a third party or enter into a joint venture to develop it.
Shore Capital noted: “The company has as its ultimate aim the sale of the project to a third party or entering into a joint venture to develop it, and we suspect that the former is the main motivation for the review."
Shares were unchanged at 1.55p.