Landore Resources Ltd (AIM:LND) reiterated it expects to resume drilling at the BAM Gold deposit in Ontario next month while it is reviewing the best way to move its battery metal interests forward.
The drilling will further test the scope of the BAM deposit and also explore the new Felix area along strike and to the west of BAM for both gold and battery metals.
In addition, drilling will be carried out on the Lamaune gold deposit to advance it to defined resource status.
Landore also repeated that pre-feasibility work will start at BAM in the second half now that the indicated resources have passed one million ounces of gold – 1.5mln oz was reported in February.
BAM is on the Junior Lake property, which has originally been explored for what are now called battery metal deposits (nickel, cobalt and lithium) though no exploration has been carried out on these since gold was discovered in 2015.
Landore is reviewing how best to move the assets forward given the current focus on gold.
In the year ended 31 December 2021, Landore incurred a loss after tax of £3.91mln (2020: £2.55mln) and ended the year with no debt.