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Landore boosts nickel resource at B4-7 by 43% to 46,661 tonnes of contained metal

Significant boost to B4-7 nickel resource adds to overall prospectivity of Junior Lake property

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Nickel prices have risen by around 20% in the past year

The total resource at the B4-7 nickel-copper-cobalt deposit of Landore Resources Ltd (LON:LND) now amounts to 3,292,000 tonnes at 1.20% nickel equivalent in the indicated category and 568,000 tonnes at 1.26% nickel equivalent inferred.

Total contained metal rings in at 46,661. 

READ: Landore Resources ups mineral resource estimate for BAM East Gold Deposit to 400,000 ounces

That’s an increase of 43% since the resource was last calculated back in 2012.

What’s more, the open pit component of B4-7 has doubled to 1,772,000 tonnes at 1.20% nickel equivalent in the indicated category, for 21,264 tonnes of contained metal.

Drilling has extended the B4-7 Deposit an additional 200 metres to a strike length of 900 metres and a depth of 550 metres, and the mineralisation remains open along strike and at depth.

A new exploration target has been identified down dip, which may contain further significant potential.

READ: Landore Resources eyes Toronto listing

“We are very pleased with the significant increase in the B4-7 Deposit resource and its potential for continued growth,” said Landore chairman Bill Humphries.

“The burgeoning world prices of all of the B4-7 Deposit's contained metals, nickel-copper-cobalt-platinum-palladium and gold, together with the deposit's proximity to the BAM East gold deposit with obvious development synergies, has further highlighted the prospectivity of the Junior Lake Property.”  

 

 

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Price: 0.69 GBX

AIM:LND
Market: AIM
Market Cap: £8.99 m
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