Landore Resources Limited (LON:LND) has updated investors on the status of a drilling programme at its BAM gold deposit at the Junior Lake Property in Ontario, Canada.
The company said drilling results from below and east of the BAM East defined pit between 2600E and 2900E have reported wide zones of ore-grade gold mineralisation within the gabbro 'hanging wall' unit with drill hole 0421-789 intersecting 53.37 metres at 1.35grams per tonne gold, including 13.14 metres at 2.99 grams per tonne gold.
READ: Landore Resources set to resume drilling on BAM gold deposit on Wednesday
Landore also said there have been frequent sightings of visible gold in the drill core.
"These encouraging results from relatively shallow intersections in the hanging wall of the extended East pit, together with the recently reported high-grade drill intersections in the footwall, give promising indications of a substantial increase in the resource of the BAM Gold Deposit", Landore chief executive Bill Humphries said in a statement.
Shares in the firm were steady at 32.8p in mid-morning trading on Monday.