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Work carried out at the tail end of last year at Landore Resources' (LON:LND) flagship Junior Lake property in Ontario has shown one of the deposits there could be extended.
Studies also showed the dynamics of a potential open starter pit could be improved.
Junior Lake is prospective for nickel, copper, platinum group elements (PGEs) and gold.
There is already a resource estimate of around 33,000 tonnes at what's called the B4-7 area, 22,000 tonnes at the mainly nickel VW zone, and a 20,000 tonne 'exploration target' west of B4-7.
Drilling last autumn was aimed at supporting electromagnetic (TDEM) surveys.
Holes along strike to the west of the B4-7 resource showed "excellent quality" targets which appear to represent the westerly and down plunge extension of the B4-7 deposit for a further 500 plus metres past the existing defined resource, Landore said today.
In December, the firm started a geotechnical study, now completed, which among other things assessed slope angles for a potential open pit at B4-7.
The work has shown the pit could be substantially deepened from the original 2013 design to capturing far more of the ore whilst retaining the same stripping ratio, Landore said.
The company is now working on reviewing data from the recently-completed exploration program on the B4-7 deposit aiming to bring newly identified potential mineralisation into a formal resource.
The results from this review are expected by the end of the first quarter.
Landore shares shot up 12% in early deals to stand at 0.7p.