Canada NewsWire
LONDON, UK, Oct. 21 2021
(AIM Ticker: LND.L)
LONDON, UK, Oct. 21 2021 /CNW/ - Landore Resources Limited (AIM: LND) ("Landore Resources" or "the Company") is pleased to report on the current BAM Gold Deposit drill programme together with a review of the Battery Metals occurrences on its highly prospective Junior Lake Property, Ontario, Canada.
Highlights:
Price used for | Price as at 18th | Increase | |
US$ | US$ | % | |
Nickel | 8.00/lb | 9.25/lb | +15.6% |
Copper | 3.50/lb | 4.78/lb | +36.6% |
Cobalt | 19.00/lb | 25.36/lb | +33.5% |
Palladium | 1,000.00/oz | 1,954.00/oz | +95.4% |
*Prices as per Kitco Inc, at www.kitcometals.com
Commenting on this development, the Chief Executive Officer of Landore Resources, Bill Humphries, said:
"Whilst Landore continues to be focused on advancing the BAM Gold Deposit towards a multi-million ounce target, the increasing interest in Battery Metals worldwide, accompanied by rapidly escalating prices, is encouraging the Company to re-evaluate its highly prospective B4-7 and VW Nickel-Copper-Cobalt-PGEs Deposits together with the numerous identified prospects along the 31 kilometre long highly prospective Junior Lake Property."
JUNIOR LAKE BATTERY METALS:
The Junior Lake Ni-Cu-Co-PGE deposits and prospects are located along the southern margin of a major zoned gabbro complex named the 'Grassy Pond Sill' (the "Sill"). The Sill is situated within a shear zone along the highly prospective Archean greenstone belt traversing the Junior Lake Property from east to west for approximately 31 kilometres. This shear zone also hosts the BAM Gold Deposit along its northern margin.
JUNIOR LAKE-NI43-101 COMPLIANT RESOURCES: -
BAM GOLD Deposit: December 2019:
B4-7 Deposit (January 2018):
VW Deposit (January 2018):
EXPLORATION PROSPECTS:
In addition to the B4-7 and VW Deposits, the Junior Lake property is host to numerous polymetallic prospects ranged along the southern margin of the Sill
PLANNING:
Landore has engaged Cube Consulting of Perth Western Australia to complete a Mineral Resource Estimate ("MRE") and Preliminary Economic Assessment ("PEA") update on the BAM Gold Deposit, which is currently scheduled for completion in Q4 2021.
The Junior Lake Property
The Junior Lake Property, 100% owned by Landore Resources, together with the contiguous Lamaune Iron property (90.2% owned) (jointly the "Junior Lake Property"), consisting of 30,507 hectares, is located in the province of Ontario, Canada, approximately 235 kilometres north-northeast of Thunder Bay and is host to: The BAM Gold Deposit; the B4-7 Nickel-Copper-Cobalt-Platinum-Palladium-Gold Deposit; the VW Nickel-Copper-Cobalt Deposit; Lamaune Gold Prospect and numerous other precious and base metal occurrences.
Covid-19
The Company is following Government Covid-19 guidelines in its operations in Canada.
Michele Tuomi, (P.Geo., BSc. Geology), Director/VP Exploration of Landore Resources Canada Inc. and a Qualified Person as defined in the Canadian National Instrument 43-101 and the AIM Rules for Companies, has reviewed and verified all scientific or technical mining disclosure contained in this announcement.
About Landore Resources
Landore Resources is an exploration company that seeks to grow shareholder value through the acquisition, exploration and development of precious and base metal projects in eastern Canada. The Company is primarily focused on the development of the Junior Lake Project. Landore Resources has mineral rights to 4 properties in eastern Canada. The Company is headquartered in Guernsey, with an exploration office located in Thunder Bay, Ontario, Canada.
SOURCE Landore Resources Limited
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