Landore Resources Ltd (LON:LND) is planning an updated resource for the B4-7 Nickel-Copper part of its Junior Lake project in Canada, it told investors, posting final results.
The firm has been developing Junior Lake for some years and aims to grow the resource to over 100,000 tons of nickel equivalent (NiEq) and to sell the project to a third party or enter into a joint venture partnership to develop it.
The main components being developed are the B4-7 area, the mainly nickel VW zone, and an 'exploration target' west of B4-7.
A review, expected to be complete by the end of the second quarter, is being carried out on recent exploration at B4-7 deposit aiming to establish the works required to bring the newly identified mineralisation into the formal resource.
Landore is also no getting quotes for a pre-feasibility standard pit design, it said.
The new resource estimate will include portions of the Alpha zone and Exploration Target as well as various pit and processing optimisations, Landore added.
The highlight of the last year was the discovery of a significant gold prospect located just two kilometres to the east of B4-7 Nickel-Copper deposit and one kilometre northwest of our VW Nickel deposit.
Plans for follow up drilling to expand this gold prospect, called BAM Easts, are in hand to start in July, subject to funding, the firm revealed.