Drilling Update

RNS Number : 0218M

Landore Resources Limited

10 August 2011

 



LANDORE RESOURCES LIMITED

 

                          10^th August 2011

DRILLING UPDATE

JUNIOR LAKE - B4-8 ZONE

Highlights: 

Drilling on the B4-8 zone, located immediately to the west of the B4-7 Nickel-Copper-Cobalt-PGEs deposit, has intersected significant mineralization, including 10.01 metres at 1.17 per cent. copper, 0.18 per cent. nickel, 0.03 per cent. cobalt plus PGEs. in drill-hole 0411-323.

During Q1, 2011, ascout drilling campaign was completed on the eastern end of the B4-8 zone successfully intersecting massive sulphide mineralisation similar to the adjacent B4-7 deposit, including 5.58 metres at 0.59 per cent. nickel (Ni), 0.29 per cent. copper (Cu), and 0.07 per cent. cobalt (Co) from drill-hole 0411-301.

A follow up drilling campaign consisting of 25 drill-holes (0411-314 to 0411-337 plus one re-entry into 0409-69), for 5,352 metres, has recently concluded, with 'fences' of 3-5 drill-holes completed in the centre and on the western end of the 900 metre long B4-8 zone.

Mineralized intersections include:

Drill-hole	From	Width	Ni	Cu	Co	Pd	Pt	Au
No	Metres	Metres	%	%	%	ppb	ppb	ppb
0411-315	185.50	3.00	0.23	0.33	0.02	134	35	10
0411-318	125.95	2.77	0.27	0.34	0.03	306	51	11
0411-321	209.25	0.64	0.67	0.25	0.03	459	423	16
0411-322	98.71	2.69	0.54	0.15	0.04	472	54	9
0411-323	43.23	25.68	0.13	0.66	0.02	139	26	43
Incl.	55.82	10.01	0.18	1.17	0.03	230	31	83
Incl.	57.70	1.00	0.13	3.69	0.02	289	<15	276
0411-328	76.36	12.64	0.15	1.01	0.03	223	63	124
Incl.	86.63	1.19	0.09	3.49	0.03	186	<15	329
0411-337	167.00	2.15	0.47	1.13	0.06	124	36	84

Note: Drill-hole 0411-328 was drilled as a 'scissor hole' to the elevated copper and nickel intersection in drill-hole 0411-323.

The Junior Lake property:

The Junior Lake property, 100% owned by Landore, is located in the province of Ontario, Canada, approximately 235 kilometres north-northeast of Thunder Bay and is host to; the VW Nickel deposit, the B4-7 Nickel-Copper-Cobalt-PGEs deposit,  and numerous other highly prospective mineral occurrences.

The Junior Lake property was, until recently, also host to the Lamaune Iron and Lamaune Gold deposits until these assets were demerged- into the newly formed company, Lamaune Iron Inc., which is to be independently managed and financed.

Junior Lake Nickel project: The combined resources of the VW and B4-7 deposits delineated to date total 48,281 tonnes of nickel equivalent (Nickel + credits of copper, cobalt and PGEs), 82 per cent. of which is in the Indicated category, Canadian National Instrument 43-101 compliant.  Both deposits remain open down dip and along strike to the east and west.

Landore believes that for the Junior Lake Nickel project to be economically viable, the above tonnage needs to be increased by 20 to 30 per cent.  Accordingly, Landore's exploration effort is focused on the discovery of additional nickel, copper, and cobalt mineralization in the vicinity of the two main deposits.

B4-8 zone:In 2004, Landore completed a high resolution helicopter-borne geophysical survey over the Junior Lake property. The 1^st derivative magnetics data identified a very strong and continuous east-west trending geophysical anomaly coincident with the B4-8 conductor making this area a prime exploration target.

The anomaly (the 'B4-8 zone') extends for approximately 900 metres along and west of the B4-8 conductor. There, it is truncated by the Juno Lake shear, and curls north and then to the east around a 150 metre diameter magnetic low. There is considerable potential for economic mineralization in the vicinity of the shear's deformation zone.

The recently concluded drilling campaign concentrated on drilling exploratory drill-fences of 3 to 5 holes in the central area and the western end of the B4-8 zone.

Significant copper mineralization has been intersected within the above curl and on the margin of the magnetic low, including 25.68 metres at 0.66 per cent. Cu, 0.13 per cent. Ni, and 0.02 per cent. Co, including 10.01 metres at 1.17 per cent. Cu, 0.18 per cent. Ni, and 0.03 per cent. Co from drill-hole 0411-323.

Drilling on the B4-8 has revealed a similar style of nickel-copper mineralization to the hanging wall mineralization in the adjacent B4-7 deposit. Elevated mineralisation is hosted in disseminated to massive sulphides in gabbroic rocks and occurs sub-vertically, often within shear zones. Mineralization is also localized in fractures, foliations and gashes. Copper and nickel grades in the B4-7 deposit are as high as 0.5 metres at 7.06 per cent. Cu in drill-hole 0409-210, and 0.86 metres at 3.34 per cent. Ni, 0.31 per cent Cu, and 0.13 per cent. Co in drill-hole 0409-219.

Results from the drilling on the B4-8 are highly encouraging, successfully identifying a potential new area of mineralization on the Junior Lake property. Drilling will recommence in early September 2011 focusing on the western end of the B4-8.

Michele Tuomi, (P.Geo., BSc. Geology),  a Senior Geologist of Landore Resources Canada Inc. and a qualified person as defined in the Canadian National Instrument 43-101, has reviewed and verified all scientific or technical mining disclosure contained in this announcement.

- ENDS -

For more information please contact:

Bill Humphries, Chairman Richard Prickett, Chief Executive Officer     Landore Resources Limited	Tel: [phone] Tel: [phone] www.landore.com
Simon Raggett / Angela Peace Strand Hanson Limited Nominated Adviser / Broker	Tel: [phone]
David Bick	Tel: [phone]

 

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