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Landore Resource pushing on with exploration at BAM

A preliminary economic assessment in February valued the BAM project at US$69.2mln

gold
Resource currently is 951,000 oz

Gold explorer Landore Resources Limited (LON:LND) expects the ongoing drilling programme at BAM to establish its Junior Lake property as a multi-million-ounce gold deposit.

BAM’s existing resource extends over 1.7km within a 3.1km strike length and the in-fill drilling will take place along the outstanding 1.4km in order to bring that section up to a defined resource level.

A preliminary economic assessment in February valued the BAM project at US$69.2mln on a base case of 951,000 contained ounces of gold. 

For the year to December, Landore lost £2.78mln (£3.3mln).

In May, the company raised £1mln at of 0.7p per share, which will fund planned operational expenses for at least six months.  

Quick facts: Landore Resources Ltd

Price: 0.715 GBX

AIM:LND
Market: AIM
Market Cap: £9.32 m
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Landore Resources confident of publishing PEA on its BAM gold project this month

Richard Prickett, finance director at Landore Resources Ltd (LON:LND), tells Proactive London's Andrew Scott they've completed the first phase of a detailed metallurgical assessment of the BAM gold deposit on the Junior Lake property in Ontario. Landore engaged Allard Engineering Services...

on 5/2/19

2 min read