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Landore Resources highlights further exploration potential

“Indications are that the BAM East Gold deposit and adjacent areas have potential for substantial growth.”
Further exploration work is being planned

Landore Resources Ltd (LON:LND) struck a confident tone in its half yearly results statement as it looked to further exploration potential around its BAM East gold project, in eastern Canada.

The explorer highlighted the rapid delineation of BAM East in the twelve month period following the discovery and its highly successful summer drilling programme, saying that the findings bode well for the possibility of finding and delineating similar open pit gold deposits.

It now plans to start new drill programmes to test extensions of BAM, once the company has received a new resource assessment in fourth quarter of the year.

“Indications are that the BAM East Gold deposit and adjacent areas have potential for substantial growth,” the company said.

In terms of its financial results, the pre-revenue explorer reported a £1.75mln loss with exploration cost stated at £1.32mln.

Landore raised £2.02mln during the reporting period, and it ended the six months with £618,924 of cash and equivalents.

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Landore Resources Ltd. Timeline

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