LANDORE RESOURCES LIMITED – PROGRESS REPORT, BAM GOLD DEPOSIT, JUNIOR LAKE PROPERTY

This announcement contains inside information as defined in article 7 of the market abuse regulation n ° 596/2014

(Witness AIM: LND.L)

LONDON, January 10, 2022 / CNW / – Landore Resources Limited (AIM: LND) (“Landore Resources” or “the Company”) is pleased to provide an update on the progress of the 2020-21 drilling program (the “Drill Program”) on the BAM gold deposit. , Junior Lake property, Ontario, Canada (“BAM Gold Deposit”).

Strong points:

  • West Extension of the BAM Gold Deposit: Recently completed drilling confirmed the continuation of the BAM gold deposit along the westerly direction with drill hole 0421-823 intersecting 9.25 meters at 4.04 grams per tonne of gold, of which 1.01 meter at 31.50 grams per tonne of gold. Visible gold was identified in five of the eight holes drilled. Mineralization remains open to the west and down dip.
  • Mineral Resources Update: All data from the 2020-2021 drilling campaign has now been compiled and transmitted to Cube Consulting of Perth, Western Australia (“Cube”) for the finalization of the updated mineral resource estimate on the BAM gold deposit, the results of which are expected to be completed and published by early February.

Commenting on this development, the Managing Director of Landore Resources, Bill Humphries, noted:
“The Board of Directors is very pleased with the results of the additional drilling on BAM’s new western extension which has the potential to significantly improve BAM’s mineral resources and justifies postponing its scheduled update to include this exciting new area. . ”

Previously unreported drill results include:

ballast

North

Borehole

From

Interval*

At



No

Meters

Meters

g / t

600E

350N

0421-822

144.49

0.97

7.47



and

150.56

1.02

14.40



and

328.39

2.13

1.49

750E

330N

0421-826

255.60

1.00

2.76



and

274.30

0.86

9.81

800E

300N

0421-820

148.08

0.83

19.75

850E

340N

0421-823

231.72

9.25

4.04



including

237.97

1.01

31.50

900E

285N

0421-819

273.68

1.5

3.52

* The drill holes were drilled 45 to 52 degrees north in a lithologic set dipping approximately 85 to 80 degrees to the south. The actual true thickness of the mineralization is estimated to be 65% to 75% of the intervals shown in the table above.

BAM Gold Deposit:
The BAM gold deposit is located approximately midway along a very promising Archean greenstone belt that crosses the Junior Lake property from east to west for approximately 31 kilometers. The favorable greenstone belt extends 0.5 to 1.5 kilometers wide and supports several known gold occurrences, including the Lamaune gold prospect.

Western extension of the BAM gold deposit:
An additional 2,428 meters of eight-hole HQ diamond core has been completed on the recently discovered western extension of the BAM 600E to 900E gold deposit. Drilling intersected lithology and mineralization typical of BAM. Initial internal modeling suggests an extension of the western rod of BAM Gold dipping approximately 15-20% to the west with widths and grades improving at depth.

2020-2021 drilling program:
The drilling program, consisting of a total of 25,500 meters of HQ diamond drilling, began on October 15e, 2020 and was designed to complement and expand the defined resource of the 1,015,000 ounce BAM gold deposit. To date, a total of 24,361 meters of HQ diamond drilling, comprising 102 drill holes, (0420-725 to 0421-826) has been completed.

BAM Geology and Mineralization:
Interpretive work and conceptual modeling conducted by Landore’s senior geological consultant and independent engineers indicated that the gold mineralization resides in a series of tabular-shaped zones oriented in a roughly stepped configuration, generally parallel to the general direction of the host rock units (east-south-east direction).

Upgrading the Mineral Resource Estimate:
Landore hired Cube to carry out a mineral resource estimate (“MRE“) and the update of the preliminary economic assessment (” PEA “) on the BAM Gold deposit. All the data required to complete the resource estimate has been transmitted to Cube.

Planning:
Drilling will resume in March to further delineate the new western extension discovered as well as the start of drilling in the very promising Felix zone along the strike and west of the BAM gold deposit.

The Lac Junior property:
The Junior Lake property, 100% owned by Landore Resources, as well as the adjacent Lamaune Iron property (90.2% owned) (jointly the “Junior Lake Property”), covering an area of ​​30,507 hectares, is located in the province of Ontario, Canada, about 235 kilometers north-northeast of Thunder bay and is the host of; the BAM gold deposit; the B4-7 nickel-copper-cobalt-platinum-palladium-gold deposit; the VW Nickel-Copper-Cobalt deposit; Lamaune gold prospect and many other precious and base metal showings.

Covid-19
The Company follows government guidelines Covid-19 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 Canadian National Instrument 43-101 and the AIM Rules for Companies, has reviewed and verified all mining technical disclosures contained in this posting.

About Landore Resources
Landore Resources is an exploration company that seeks to increase shareholder value through the acquisition, exploration and development of precious and base metals projects in the East Canada. The Company is primarily focused on the development of the Junior Lake project. Landore Resources has mineral rights to 5 properties in the east Canada. The company is headquartered in Guernsey, with a Exploration office located at Thunder Bay, Ontario, Canada.

SOURCE Landore Resources Limited

For more information: Landore Resources Limited, Bill Humphries, CEO, Tel. : 07734 681262; Glenn Featherby, Chief Financial Officer, Tel. : 07730 420318; Cenkos Securities (Advisor and Appointed Broker), Derrick Lee / Peter Lynch, Tel. : 0131 220 9100

Comments are closed.