Landore Resources Limited (LON:LND) has unearthed a new gold deposit at the Junior Lake project, in Ontario, Canada.
The company, in a statement, said that exploration drilling located one kilometre to the east of the BAM gold deposit encountered “significant” gold mineralisation with grades up to 26.2 grams per tonne over a 1.02-metre section.
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It highlighted that the discovery is on-strike with BAM and that the gold structure has now been confirmed across 3 kilometres. The mineralisation remains open to the east and west, and also down-dip.
Landore added that final results of the summer drill campaign have been received and are being collated ahead of a new resource estimation process, anticipated to complete in the fourth quarter.
"The newly discovered gold mineralisation one kilometre along strike to the east of the BAM Gold Deposit further highlights the potential for there being additional discoveries within the highly prospective Archean greenstone belt traversing the Junior Lake Property from east to west for approximately 31 kilometres,” said Bill Humphries, Landore chief executive.