Landore Resources Ltd (LON:LND) has unveiled a new estimate of the BAM gold deposit’s mineral resource, based on fieldwork conducted between 2015 and 2017.
It has estimated some 623,000 ounces of contained gold, in 18.58mln tonnes of mineralization grading 1.04 grams per tonne.
The estimate comprises 486,000 ounces in the higher confidence ‘indicated’ resource category.
READ: Landore Resources hits visible gold between the two deposits at BAM
Additionally, the company highlighted a possible further 686,000 ounces, ‘unclassified’, in target areas adjacent to the current delineated deposits.
The 2018 drill programme, which underway presently, is designed to target this additional potential resource, and, it has been successful in unearthing widespread gold mineralisation of similar grade to the BAM deposit.
"The modelled BAM Gold resource of 623,000 ounces of gold has provided a significant uplift from the resource of 400,000 ounces of gold we reported in December 2017 without including any results from the already successful 2018 drilling programme,” said Bill Humphries, Landore chief executive.
“Management is confident that this current programme will provide a further significant uplift towards achieving our targeted one million ounces gold.”