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Gold & silver

Landore to use geophysics to enhance Junior Lake programme

Three drill-holes completed to date had all successfully intersected mineralisation.

Landore Resources (LON:LND) has kicked off a geophysics campaign to support drilling at its Junior Lake prospect in Ontario, Canada.

Drilling is already underway on a 2,500 metre, nine-hole diamond programme at the B4-7 target.

To aid this, Abitibi Geophysics will carry out bore-hole time-domain electro-magnetic (BHEM) surveys to determine the three dimensional extension of mineralisation and identify outlying anomalies.

Landore added that three drill-holes completed to date had all successfully intersected mineralisation.

WSP Canada has also been taken on to prepare a geotechnical and pit design study to pre-feasibility standard for a proposed open pit at B4-7.

The final report is due in the next three months, with the results to be the basis of B4-7's open pit.

Management have also agreed to halve their salaries to £137,500 per annum to free up cash for the exploration programme, while all fees bar £40,000 annually of operational charges are being deferred.

Junior Lake is a huge deposit that as well as the B4-7 nickel-copper-cobalt-PGE deposit, hosts the Scorpion Zone, the recently-identified Exploration Target, the Alpha Zone and VW nickel resource.

B4-7 has an NI 43-101 indicated resource of 33,200 tonnes nickel equivalent, while VW has 21,760 tonnes on indicated and inferred resources.

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