Lamaune Gold Results Confirmed and Defined
Summary by AI BETAClose X
Landore Resources Limited
Lamaune Gold Results Confirmed and Defined
Lamaune Advances Towards a Maiden Resource
Landore Resources Limited (AIM: LND) ("Landore" or the "Company") is pleased to report the successful compilation and internal validation of a major gold assay dataset from its Lamaune Gold exploration target, located approximately 8.5 km along strike west-north-west of the Company's flagship BAM Gold Deposit on the 100%-owned Junior Lake Property in Ontario, Canada. The results, compiled from prior drilling in 2009 and 2010, decisively confirm the gold system identified in earlier sampling and, for the first time, define it clearly enough for Landore to progress towards a maiden Mineral Resource Estimate ("MRE"), a new value driver to complement the recently published BAM MRE and to further demonstrate the district-scale potential of Junior Lake.
Highlights
• 8,919 gold assays compiled from 107 historic drill holes over 11,220 m of drill core - one of the most comprehensive gold datasets ever assembled at Junior Lake
• Peak assay of 118.7 g/t Au (hole 1110-88), with five holes exceeding 20 g/t Au and 101 samples grading above 1 g/t Au
• Gold is strongly zoned and mappable - samples grading ≥ 1,000 ppb (≥1 g/t Au) average 4.90 g/t Au, over 230 times the background population, confirming a coherent, targetable system
• Results confirm and extend previous Lamaune findings, providing the technical foundation to advance towards an initial MRE
• Reinforces the district-scale gold opportunity across the 100%-owned Junior Lake Property, alongside the BAM MRE of 622,000 oz Indicated + 33,700 oz Inferred
Alexander Shaw, Director & CEO of Landore, commented:
"These results are hugely encouraging and represent an important step forward for Landore. The Lamaune gold system, which earlier work had only hinted at, has now been confirmed and, crucially, defined with a level of confidence that allows us to progress towards a maiden MRE.
"A defined resource at Lamaune would complement our flagship BAM Gold Deposit and give the Company a second gold asset on the 100%-owned Junior Lake Property. With robust, high-grade mineralisation now demonstrated at both ends of an 8.5 km corridor, we are increasingly confident that Junior Lake represents a district-scale gold opportunity.
"I would like to thank our geological team and partners for their diligence in compiling this exceptional dataset. We look forward to advancing Lamaune towards a resource and to unlocking the broader potential of the wider property for the benefit of all shareholders."
Confirmation of a Robust Gold System
Earlier drill-core sampling at Lamaune returned encouraging but scattered gold values, hinting at a mineralised system running along strike from BAM. This latest, systematic compilation removes any doubt. Across nearly 9,000 assays, the data paints a clear and consistent picture: Lamaune hosts a genuine, robust gold system, not a series of isolated, one-off hits.
Crucially, the gold is not scattered randomly. When the assays are grouped by grade, background below 100 ppb, an anomalous tier from 100-300 ppb, a cut-off tier from 300-1,000 ppb, and high-grade above 1,000 ppb (1 g/t), the values define clear, coherent tiers, climbing sharply from background rock into a distinct high-grade population. This predictability is precisely what is needed to move a project from "exploration target" towards a formal resource estimate.
Grade Rises Sharply into Defined Zones
|
Grade Band
|
Au Threshold
|
Samples
|
Average Grade
|
|
Background |
< 100 ppb |
7,543 |
0.02 g/t Au |
|
Low (anomalous) |
100 - 300 ppb |
892 |
0.17 g/t Au |
|
Mid (cut-off) |
300 - 1,000 ppb |
383 |
0.52 g/t Au |
|
High grade |
≥ 1,000 ppb |
101 |
4.90 g/t Au |
Standout Gold Results
Zones are defined directly from the Au (ppb) assay values. The high-grade band (≥1,000 ppb / ≥1 g/t Au) averages 4.90 g/t Au - more than 230× the background population - demonstrating a coherent, high-tenor gold system that can be modelled with confidence. This is the classic signature of a nugget-effect orogenic system. The table below highlights the best-performing drill holes in the Lamaune dataset, showing the downhole depth and grade of the peak assay interval in each hole. Every hole shown carries peak assays in the high-grade band (≥1,000 ppb Au).
|
Drill Hole
|
From (m) |
To (m)
|
Interval (m) |
Peak Au (ppb)
|
Peak Au (g/t)
|
|
1110-88 |
73.80 |
74.40 |
0.60 |
118,661 |
118.7 |
|
1109-82 |
88.63 |
89.13 |
0.50 |
53,121 |
53.1 |
|
1110-97 |
70.60 |
71.10 |
0.50 |
46,078 |
46.1 |
|
1109-75 |
42.18 |
42.78 |
0.60 |
42,817 |
42.8 |
|
1110-134 |
32.50 |
34.00 |
1.50 |
21,719 |
21.7 |
|
1110-85 |
16.60 |
17.20 |
0.60 |
15,689 |
15.7 |
|
1109-67 |
120.62 |
122.00 |
1.38 |
9,246 |
9.2 |
|
1110-94 |
121.00 |
122.50 |
1.50 |
6,623 |
6.6 |
|
1110-118 |
13.70 |
14.25 |
0.55 |
6,389 |
6.4 |
|
309-007 |
65.00 |
66.35 |
1.35 |
6,160 |
6.2 |
Note: 1 g/t Au = 1,000 ppb. "From" and "To" denote the downhole depths of the peak-grade sample interval in each hole; intervals are downhole lengths and are not necessarily true widths. Drill holes at -45º dip. Values are peak sample statistics from the filtered assay compilation and are not composited intercepts. Zones are grade-based (background <100, low 100-300, mid 300-1,000, high ≥1,000 ppb Au).
The Data at a Glance
The chart below summarises the full gold dataset, the best holes by peak grade and by contained gold, how grade rises across the assay-based zones, and how the sampling is distributed across grade categories.
Potential for a District-Scale Gold Corridor
Lamaune and the flagship BAM Gold Deposit lie approximately 8.5 km apart along the same mineralised greenstone trend on the wholly-owned Junior Lake Property. Confirming robust, high-grade gold at both ends of this corridor, with largely untested ground in between, underpins Landore's view of Junior Lake as a potential district-scale gold system.
Figure 2: Lamaune Gold Target in relation to the BAM Gold Deposit, Junior Lake Project, Ontario. Lamaune drill holes shown in brown; BAM and corridor drill collars shown in magenta, green and orange. Map base and drill collar positions as supplied.
What This Means for Investors
The Board believes these results are relevant for investors for the following reasons:
A clear path to a second resource. With the Lamaune gold system now confirmed and defined, Landore is positioned to advance towards a maiden MRE at Lamaune. This would create a second gold resource on the Junior Lake Property to complement the recently published BAM MRE.
Building on BAM's momentum. The BAM Gold Deposit already hosts 622,000 ounces of Indicated gold (19.1 Mt at 1.01 g/t Au) plus 33,700 ounces of Inferred gold (1.1 Mt at 0.96 g/t Au), prepared by SLR Consulting under CIM NI 43-101 standards. A defined Lamaune resource would add a further growth pillar just along strike.
Proving the district. BAM and Lamaune sit 8.5 km apart on the same 100%-owned property. Confirming robust gold mineralisation at both ends of this corridor strengthens the case that Junior Lake is a district-scale gold system - with significant untested ground in between and considerable exploration upside.
Next Steps
• Compile and validate the Lamaune dataset within a 3D geological model to define mineralised domains
• Advance towards an initial MRE for Lamaune to complement the BAM MRE
• Prioritise the high-grade 1109/1110 and 309 hole clusters for follow-up and infill evaluation
• Continue systematic exploration along the 8.5 km BAM-Lamaune corridor to test the district-scale potential of Junior Lake
Justin Johnson (PGeo, Msc. Geology) VP Exploration of Landore Resources Canada Inc. and a Qualified Person as defined in the Canadian National Instrument 43-101 and with respect to the AIM Rules for Companies, has reviewed and verified all scientific and technical mining disclosures contained in this announcement.
Cautionary Statement
Lamaune Gold is an exploration target. The assay results reported here relate to drill-core sampling and do not constitute a MRE. A Mineral Resource for Lamaune has not yet been defined, and there is no certainty that further work will result in the delineation of a Mineral Resource. Grade zones used in this announcement are simple assay-value thresholds applied to individual samples and are not a substitute for a resource classification. The BAM Gold Project MRE was prepared by SLR Consulting under CIM NI 43-101 standards. This announcement is for information purposes only and does not constitute an offer or invitation to invest. It contains forward-looking statements that are subject to risks and uncertainties.
The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulation (EU) No. 596/2014 as it forms part of United Kingdom domestic law by virtue of the European Union (Withdrawal) Act 2018, as amended by virtue of the Market Abuse (Amendment) (EU Exit) Regulations 2019
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For further information, please contact:
|
Landore Resources Limited Alexander Shaw (CEO) Engage with the company directly |
contact@landore.com Landore Resources Investor Hub |
|
SP Angel Corporate Finance LLP (Nominated Adviser and Joint Broker) Matthew Johnson / Charlie Bouverat / Adam Cowl |
Tel: 020 7409 3494 |
|
Hannam & Partners (Joint Broker) Andrew Chubb / Matt Hasson |
Tel: 020 7907 8500 |
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