Progress Report

RNS Number : 6039E

Landore Resources Limited

30 September 2008

 



LANDORE RESOURCES LIMITED

JUNIOR LAKE-NICKEL PROJECT

PROGRESS REPORT

HIGHLIGHTS

• Drilling on the VW Zone Nickel Project returns the highest intersection recorded to date with drill-hole 0408-185 returning 11 metres at 1.53% nickel including 2 metres at 3.19% nickel. The zone remains open along strike in both directions and at depth.

• Drilling on the Carrot Top Zone, located 11 kilometres to the west and along strike from the VW Zone, confirms the presence of highly anomalous nickel, copper and Platinum Group metals including an intersection of 0.39 metres at 1.44% nickel, 0.56% copper, 1.68 grams/tonne palladium and 0.14% cobalt.

• Landore has increased its interest to 80% in the Lamaune Lake property, located to the west and adjacent to the Junior Lake property.

Junior Lake:

The Junior Lake property is located in the province of Ontario, Canada, approximately 235 kilometres north-northeast of Thunder Bay and is situated within the Caribou-O-Sullivan Greenstone Belt in the Wabigoon Subprovince.  The VW Nickel Deposit is located at Ketchikan Lake toward the south eastern end of the Junior Lake property.

VW Nickel Deposit.  Drilling resumed on the VW Zone in mid July. A campaign of 20 holes for approximately 5,200 metres is in progress with the aim of extending the existing indicated resource along strike to the east and down plunge in the west.

To date, 18 drill-holes, Diamond NQ core, (0408-179A to 0408-195A and extensions to 0407-114 and 0407-136), for 4,960 metres, have been completed. Results are pending for 12 of those holes.

Mineralized intersections include:

Drill-hole	From	Width	Nickel	Copper	Cobalt
No	Metres	Metres	%	%	%
0408-180	299.00	1.00	1.01	0.03	0.04
and	313.26	2.74	2.19	0.40	0.08
including	315.00	1.00	3.04	0.09	0.09
0408-185	216.00	11.00	1.53	0.07	0.04
including	224.00	2.00	3.19	0.08	0.07
and	239.00	1.50	0.88	0.03	0.03
and	243.61	1.39	1.39	0.13	0.04

Both of the above intersections are at the western end of the VW Nickel Deposit and show the down plunge of the mineralization to be improving with depth, further enhancing the underground mining potential.

At completion of the current campaign, the drilling results will be collated and forwarded to Independent Engineers for a National Instrument 43-101 Resource upgrade to be used for the proposed Scoping Study.

Exploration Drilling: A 10 drill-hole program totalling 1,500 metre  is scheduled to commence in early October 2008 on the 3 kilometre area between the VW Nickel Deposit and the B4-7 Nickel-Copper-PGE's Deposit.

Lamaune Lake:

The Lamaune Lake property, consisting of 8 claims for a total area of 1,616 hectares, is located at the western end of and is contiguous to the Junior lake property and contains the highly prospective Carrot Top Zone, The Grassy Pond Zone and several other areas of interest.

In 2003, Landore Resources entered into an Option Agreement with the Stares Contracting Corporation and James Dawson, to acquire up to an 80% interest in the Lamaune Lake property by incurring exploration expenditures of C$1,000,000 within a 6 year period together with 4 annual payments totaling C$80,000. Those commitments have recently been achieved as a result of which Landore's now has an 80% interest in the above property.

Carrot Top Zone: Landore has completed two drilling campaigns on the Carrot Top Zone and adjacent Zap Zone, in 2003 and 2005, successfully intersecting highly anomalous nickel, copper and platinum group elements (PGE's) in several holes.

Commencing in May 2008, an exploration drilling campaign, consisting of 12 drill-holes, Diamond NQ core, for a total of 2,028 metres was completed on the Carrot Top and Zap Zones designed to further investigate the previous drilling.

Mineralized intersections include:

Drill-hole	From	Width	Nickel	Copper	Platinum	Palladium	Cobalt
No	Metres	Metres	%	%	g/t	g/t	%
1108-21	77.30	6.70	0.29	0.26	0.076	0.352	0.03
1108-24	185.20	18.30	0.34	0.32	0.038	0.206	0.03
1108-25	81.00	5.48	0.33	0.15	0.078	0.278	0.02
Including	84.60	0.32	1.29	0.16	0.133	1.064	0.12
1108-26	126.89	0.39	1.44	0.56	0.010	1.678	0.14

The results from the 3 drilling campaigns completed to date show the Carrot Top Zone to have the potential to develop into a resource. Accordingly a substantial drilling campaign will be programmed for the Carrot top Zone commencing in the spring of 2009.

Grassy Pond Zone:  An exploration drilling campaign, consisting of 8 drill-holes, Diamond NQ core, for a total of 1,034 metres, has been completed on the Grassy Pond Zone located approximately 3 kilometres to the north east of the B4-7 Nickel Copper PGE's deposit.

Highly anomalous results, including 0.7 metres at 0.39% nickel, 0.43% copper and 0.77grams/tonne gold in drill-hole 1108-30, are sufficiently encouraging to warrant follow up drilling.

James Garber, (BSc. Hons. Geology, member of APGO) a Director of Landore Resources Ltd 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, which is stated in accordance with the Canadian Institute of Mining Metallurgy and Petroleum.

- ENDS -

For more information please contact:

Bill Humphries, Chairman Richard Prickett, Chief Executive   Landore Resources Limited	Tel: [phone]  Tel: [phone]  www.landore.com
Simon Raggett Strand Partners Limited	Tel: [phone]
David Bick	Tel: [phone]

 

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