REG - Landore Resources Ld - Drill Core Sampling Identifies Gold Upside

Landore ResourcesAnnouncement

03/03/2025 07:15

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RNS Number : 0556Z  Landore Resources Limited  03 March 2025

3 March 2025

 

Landore Resources Limited

2024 Infill Drill Core Sampling Programme Identifies Gold Upside at

Junior Lake

London, United Kingdom - 3 March 2025 - Landore Resources Limited (AIM: LND)
("Landore Resources" or the "Company") is pleased to announce the results of
its 2024 infill drill core sampling programme on selected historic drill holes
on its flagship BAM Gold Deposit ("BAM Gold" or "BAM") and Lamaune Gold
Exploration Target ("Lamaune Gold"), at the Junior Lake property, Ontario,
Canada.

During late Autumn 2024, a significant infill drill core sampling programme
was conducted at Junior Lake involving the collection of 930 drill core
samples, exclusive of control samples, from a total of 29 drill holes spanning
8.5 kilometres from the BAM Gold Deposit to the Lamaune Gold Exploration
Target located west north-west of BAM.

Highlights:

·        2024 drill core sampling successfully (i) infilled previously
unsampled intervals in order to strengthen the Company's BAM Gold
mineralisation model; (ii) tested specific lithologies for gold potential; and
(iii) followed up on projected mineralisation.

·        These latest results, together with historic infill sampling
conducted in 2023, indicate significant gold potential within the gabbroic
lithological unit, which comprises the southern flank of BAM Gold.

·        Drill core sampling at Lamaune Gold, located approximately
8.5 kilometres along strike west north-west of BAM Gold, has identified
anomalous gold values in previously unsampled core; indicating potential for
additional mineralisation.

·        A new 3,500-metre drilling programme is scheduled to commence
on BAM Gold in early March 2025, focusing on providing greater clarity on the
structure of the orebody, increasing the overall confidence in the grade, size
and continuity of the resource, as well as testing the considerable down-dip
potential of BAM Gold.

Commenting on the results, Landore Resources' CEO, Alexander Shaw, said:

"I am most encouraged by these latest sampling results from BAM Gold, which,
once again, clearly demonstrate the enormous potential of our flagship asset
at Junior Lake. The 2024 infill drill core sampling results indicate
significant gold potential within the gabbroic lithological unit located at
the southern flank of the deposit, which supports similar findings in 2023.
Previous core samples taken at Lamaune Gold, located just 8.5km along strike
from BAM Gold, also indicate potential for additional mineralisation.

"Our exploration team looks forward to commencing the new targeted 3,500m
drilling programme this month as we fast track BAM Gold's development ahead of
updating the mineral resource estimate later this year and then updating the
2020 PEA to a Pre-Feasibility Study (PFS) to reflect the currently elevated
global gold price. I look forward to providing further updates as the BAM
story continues to develop and flourish going forward."

 

To view an additional video by Alexander Shaw, and the chance to have your
questions directly answered by the management team, please head to our
interactive investor hub via: https://investors.landore.com/link/LeoNMy
(https://urldefense.com/v3/__https:/investors.landore.com/link/LeoNMy__;!!H_q-o1I4kFo!g9UTQcWPHBCiFsGPVVgAKUngJ0BcD0E2SdO7FTW7jneHVjxjBgvGrv8KMLQ7Y6cwoUsgtJW36DqlV5cmuc93WgGykELQYBA$)
.

2024 INFILL DRILL CORE SAMPLING PROGRAMME, JUNIOR LAKE PROPERTY

Landore Resources' geological team completed an infill drill core sampling
programme during November and December 2024 on 27 existing drill holes from
BAM Gold and two existing drill holes from Lamaune Gold, located approximately
8.5 kilometres along strike west north-west from BAM Gold.

The BAM Gold portion of the 2024 programme comprised 653 drill core samples
(exclusive of control samples) and successfully tested BAM Gold's modelled ore
lenses, provided infill sample data to strengthen the existing resource model,
and followed up on projected mineralisation through prospective lithologies.
Infill sampling has reaffirmed the considerable gold potential of the Grassy
Pond Sill gabbros, with inconspicuous shears and deformation zones being of
particular interest. Drill results to-date have indicated that intervals of
gold can range from sub-one metre to multiple metres in width.

The 2024 results compliment historic infill drill core sampling conducted in
2023 within and immediately south and west of BAM Gold's proposed western pit,
which revealed several anomalies including 7.59g/t gold over 0.93 metres in
drill hole 0418-675, representing gold potential to be further assessed by
drilling.

At Lamaune Gold, the infill programme comprised sampling the entirety of two
historic drill holes for 277 samples. The sampling tested the reproducibility
of the earlier gold assays at Lamaune Gold, investigated potential grade
optimisation through utilising a 1.0m sample size, as well as testing
previously-unsampled intervals.

A full report on the 2023 and 2024 infill drill core sampling programmes has
been prepared by the Company entitled '2023 & 2024 Infill Drill Core
Sampling, Junior Lake property' dated 24 February 2025 (the "2023/2024
Report"), which can be viewed on the Company's website at www.landore.com
(http://www.landore.com) .

Key Extracts from the Summary Section of the 2023/2024 Report are as follows:

"In 2023 and 2024, infill drill core sampling programmes were conducted on the
BAM Gold (Au) Deposit and the Lamaune Au Prospect, within the Junior Lake
Project. During the two programmes 86 drill holes were sampled for a total of
1,913 samples, plus CRMs. Of the samples, 983 were analyzed in 2023 (392 from
the BAM Au Deposit, 591 from the Lamaune Au Prospect) and in 2024, 930 samples
were analyzed (653 from the BAM Au Deposit and 277 from the Lamaune Au
Prospect). Samples were submitted to ALS Global for 50g ore grade fire assay
and multi-element ICP-MS.

The 2024 programme was designed with two main objectives: 1) To test portions
of the 2022 BAM Au resource model completed by Cube Consulting Pty Limited and
infill data gaps to strengthen the model; and 2) Verify the original gold
assays within the Lamaune Au Prospect and infill previously unsampled drill
core. The 2023 sampling programme was designed with two different purposes: 1)
To provide flanking samples to all anomalous gold (>0.1 g/t Au) values
within the BAM Au drilling not already shoulder-sampled; and 2) Test
previously unsampled, favourable lithologies in the Lamaune Au area.

The infill drill core sampling programmes are considered a success. The
programmes confirmed several theories about the gold mineralisation within the
BAM Au Deposit, identified a limited number of significant (>0.5 g/t) gold
assays, and most importantly, the additional assays will help support a more
robust and stronger resource model. In addition, the sampling on the Lamaune
Au Prospect identified numerous anomalous gold (>0.1 g/t) samples in
previously unsampled drill core and validated the original assays. Additional
work is required to verify the reproducibility between the original and
current assays."

 

Operational Update

The Company will proceed with a new 3,500-metre drilling campaign at the BAM
Gold Project in early March 2025, designed to provide greater clarity on the
structure of the ore body, prove the validity of the block model and increase
overall confidence in the grade, size and continuity of the resource, as well
as testing the considerable down-dip potential of BAM Gold.

The results from such drilling will be used to update the existing BAM Gold
Mineral Resource Estimate ("MRE"), which will, in turn, support the Company's
plans to proceed with preparation of a pre-feasibility study expected to
commence in late 2025.

 

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 22,037 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 Deposit; the VW Nickel-Copper-Cobalt
Deposit; the Lamaune Gold Prospect and numerous other precious and strategic
metal occurrences.

 

Michele Tuomi, (P.Geo., BSc. Geology), Director/CEO 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.

 

- ENDS -

 For further information, please contact:

 Landore Resources Limited                                   contact@landore.com

 Alexander Shaw (CEO)

 or engage with the company directly                         https://investors.landore.com/s/051b30
                                                             (https://investors.landore.com/s/051b30)
 Strand Hanson Limited (Nominated Adviser and Joint Broker)

 James Dance/Matthew Chandler/Robert Collins                 Tel: 020 7409 3494
 Hannam & Partners (Joint Broker)

 Andrew Chubb / Matt Hasson                                  Tel: 020 7907 8500
 Burson Buchanan (Financial PR)

 Bobby Morse/ Oonagh Reidy                                   landore@buchanancomms.co.uk

                                                             Tel: 020 7466 5000

 

Subscribe to our news alert service: https://investors.landore.com/auth/signup

 

About Landore Resources

Landore Resources (AIM: LND) is the 100% owner of the highly prospective BAM
Gold Project, Northwestern Ontario, Canada, which has an NI 43-101 compliant
resource estimate of 1.5m oz Au (Indicated: 1.03m oz from 30.96Mt @ 1.0g/t;
Inferred: 467,000oz from 18.3M/t @ 0.8g/t). Ontario is Canada's largest gold
producing province, and produced 3.9m oz, accounting for 41% of Canada's total
gold production in 2023. Landore Resource's strategic objective is to
crystallise value from BAM Gold's last estimated NPV of US$333.6m @
US$1,800/oz spot (from May 2022 PEA), as well as generating additional value
from its non-core portfolio of precious and battery metals projects in eastern
Canada and the USA.

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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