REG - Landore Resources Ld - Positive Drill Campaign Results at BAM

Landore ResourcesAnnouncement

18/06/2025 07:02

For best results when printing this announcement, please click on link below:
https://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20250618:nRSR2699Na&default-theme=true

RNS Number : 2699N  Landore Resources Limited  18 June 2025

18 June 2025

 

Landore Resources Limited

Positive Drill Campaign Results at the BAM Gold Project

 

London, United Kingdom - 18 June 2025 - Landore Resources Limited (AIM: LND)
("Landore Resources" or the "Company"), is pleased to announce the assay
results in respect of its Spring 2025 resource drilling programme, which
confirm additional mineralisation to the east and west of the existing mineral
resource, as well as consistency of grade, at its flagship BAM Gold Project
("BAM" or the "Project") at the Junior Lake property in Ontario, Canada.
These drilling results will form the basis of an updated Mineral Resource
Estimate ("MRE") expected to be received in Q3 2025.

Highlights:

·    14 holes were drilled for a total of 3,549 metres using HQ diamond
core drilling across BAM East and West including 1,000 metres of infill
drilling.

·    Results have confirmed down dip mineralisation in the eastern zone
with drill hole 0425-856 reporting an interval of 1.03 metres at 10.60
grammes/tonne ("g/t") gold.

·    Drilling has successfully infilled prospective drill lines at BAM
East seeking to extend BAM's Indicated resources a further 150 metres to the
east.

·    Drilling results from BAM West have further confirmed the significant
mineralisation potential in the deposit's gabbroic rocks, with drill hole
0425-860 reporting an interval of 1.00 metre at 9.97g/t gold.

·    Campaign has increased confidence in the orebody at BAM and
identified significant mineralisation and targets, warranting further
follow-up work.

·    Results from this latest drill campaign will be utilised to update
the existing BAM MRE, expected to be received in Q3 2025.

Landore Resources' CEO, Alexander Shaw, commented:

"These results from our latest drilling at BAM are extremely encouraging and
demonstrate that our existing resource has the potential to be expanded, as
well as a proportion of the  inferred ounces element converted into
additional indicated gold ounces.

"We have successfully extended the mineralisation to the east, identified
high-grade intercepts at depth in the eastern area and revealed strong gold
potential within the gabbroic units to the west - all of which serve to
reinforce the growing geological and economic significance of BAM.

"With gold prices currently at more than US$3,400 per ounce, we are seeking to
develop a gold project in one of the best-known gold mining jurisdictions
globally at the right time of the cycle.  We look forward to releasing an
updated MRE in the next quarter and updating the market on the next phase of
our growth strategy.

"We also intend to host investor webinars in the coming weeks to explain in
more detail the significance of these latest results."

Alexander Shaw, CEO Landore Resources, discussed these results with Sarah
Lowther, Total Market Solutions. To watch this interview and for the chance to
have your questions directly answered by the Landore management team, please
head to our interactive investor hub via:
https://investors.landore.com/link/NPwaEe
(https://urldefense.com/v3/__https:/investors.landore.com/link/NPwaEe__;!!H_q-o1I4kFo!g078VYlPTMhR-_1LCXi7ztxDddx0q4fc8ESRt-rrecL5Ix6kfp41ySY113PqzAJ8Xv-AbdIxKyjg10IPYcQMOk9BWvvdPF0$)

BAM Resource Drilling Programme

The Spring 2025 resource drilling programme, which consisted of a total of 14
drill holes for 3,549 metres of HQ diamond core drilling, commenced in
mid-March 2025 and was designed to provide greater clarity on the structure of
the orebody, increase overall confidence in the grade, size and continuity of
the resource, as well as testing the considerable down-dip potential. The
drill core was fully orientated, with detailed structural measurements taken
to fine tune surface and vein orientations.

Selected key assay results returned include:

  Easting   Northing  Drill-hole  From     Interval*  Au

                      No.         Metres   Metres     g/t

 3050E      170S      0425-849    68.59    7.01       0.98
                      including   68.59    1.01       2.40
                      including   73.60    2.00       1.61
 3150E      112S      0425-850    15.28    1.06       1.26
 3150E      162S      0425-851    15.42    3.68       1.35
                      including   18.15    0.95       4.31
                      And         86.12    0.92       3.37
 3150E      212S      0425-852    139.30   0.98       2.21
 2750E      124S      0425-853    96.86    1.00       2.20
                      And         119.28   15.96      1.56
                      including   122.24   1.00       3.66
                      including   127.24   1.00       3.18
 2700E      170S      0425-854    41.35    1.00       1.51
                      And         57.15    5.00       0.61
                      And         184.85   1.00       1.13
                      And         191.85   1.00       2.04
                      And         270.47   0.73       2.39
 2550E      110S      0425-855    176.07   7.67       0.72
                      And         191.90   8.00       1.86
                      including   197.90   1.00       7.87
                      And         203.90   6.00       1.19
                      And         226.95   1.00       1.28
 2500E      230N      0425-856    107.65   1.00       1.34
                      And         110.65   1.00       2.14
                      And         143.50   1.00       1.53
                      And         184.25   1.00       1.45
                      And         211.62   3.20       5.56
                      including   212.31   0.69       8.39
                      And         226.90   9.02       1.0
                      including   226.90   1.00       4.76
                      And         300.46   2.03       8.14
                      including   300.46   1.03       10.60
 2300E      40S       0425-857    257.36   1.23       4.63
                      including   257.98   0.61       6.54
                      And         263.39   0.97       2.01
                      And         334.38   8.98       2.65
                      including   338.32   1.00       9.92
                      including   341.31   2.05       4.70
 750E       450N      0425-859    153.75   0.92       2.16
                      And         159.26   1.00       7.37
 700E       360N      0425-860    50.24    0.63       1.01
                      And         99.42    1.00       9.97
                      And         269.94   3.19       1.33
                      including   272.28   0.85       2.46
                      And         279.60   1.76       1.92

Note:

* - The holes were drilled north at 45-60 degrees into a lithological package
dipping approximately 85-75 degrees to the south. The actual true thickness of
mineralisation is estimated to represent between 60-80% of the intervals shown
in this table.

 

Figure 1: Map of Completed Drillholes

 

The Spring resource drilling programme was focussed on four areas of the BAM
deposit, namely: the eastern extent of the existing Indicated resource; the
eastern and western zones; and the western extent of the existing Indicated
resource. Drilling has successfully identified significant mineralisation
warranting further follow-up work.

Resource infill drilling - East: 1,098 metres were completed through six drill
holes (0425-847 to 0425-852) on cut grid lines 3050E and 3150E, establishing
the required drill hole density to potentially extend BAM's existing Indicated
resources a further 150 metres to the east. All holes intersected typical BAM
lithology, with assay results showing widths and grades reflective of the
"pinch-and-swell" mineralisation style observed elsewhere in the deposit.
Drilling also reaffirmed the shallow mineralisation potential of the area,
with drill hole 0425-849 on line 3050E reporting 7.01 metres at 0.98g/t gold
at 68.59 metres depth. Additionally, on line 3150E near-surface mineralisation
was revealed in drill hole 0425-851 with 3.68 metres at 1.35g/t gold at 15.42
metres down hole.

Resource drilling - Eastern Area: 1,605 metres were completed through five
drill holes (0425-853 to 0425-857) located beneath the east defined zone, from
cut lines 2300E to 2750E testing depth extension potential below the eastern
area. All holes intersected typical BAM lithology and mineralisation. Results
revealed excellent depth potential in the vicinity of line 2500 with drill
hole 0425-856 reporting 2.03 metres at 8.14g/t gold including 1.03 metres at
10.60g/t gold in a fractured contact zone between greywacke metasedimentary
rock and tonalite at 300.46 metres down hole. Additional down dip potential
was identified in drill hole 0425-857 on line 2300E, reporting 2.65g/t gold
over 8.98 metres including 9.92g/t gold over 1.0 metre in greywacke located
334.38 metres down hole. Wider, lower grade zones were also intercepted such
as 15.96 metres at 1.56g/t gold in drill hole 0425-853 on line 2750E.

 

 

 

Figure 2: Section Line Showing Drill Hole 0425-853

Resource infill drilling - West: 486 metres were completed through two drill
holes (0425-859 and 0425-860) to infill lines 700E and 750E testing both
shallow and deeper mineralisation potential. Both holes intersected typical
BAM lithology with results showing encouraging up dip mineralisation in drill
hole 0425-859 on line 750E, reporting 1.0 metre at 7.37g/t gold in greywacke
metasedimentary rock. Drill hole 0425-860 on line 700E identified further
potential in the gabbro lithological unit, reporting 1.0 metre at 9.97g/t
gold.

Resource drilling - Western Area: 357 metres were completed through one drill
hole (0425-858), not shown in the table above, to test for depth extension
below the western area on line 1250E.  Drilling intersected complex lithology
at depth which requires further work to fully interpret the localised
geological environment.

BAM Gold Deposit's Geology and Mineralisation

Interpretive work and conceptual modelling conducted by Landore Resource's
geological team and independent consultants has indicated that the gold
mineralisation resides within a series of tabular shaped zones oriented in a
roughly en-echelon configuration, generally parallel to the overall strike of
the host rock units (east-southeast direction).

Shoots (Mullions) of significant gold mineralisation within the BAM Gold
Deposit's eastern and western zones are interpreted to dip approximately 30
degrees to the west. Interpretation of the drilling results has indicated the
potential for repeating shoots of significant gold mineralisation along strike
east and west of the currently defined BAM resource.

Detailed structural logging of the Spring drilling programme's fully
orientated core, together with the recently completed BAM structural
assessment, has further informed BAM's mineralisation model and will be
utilised in producing the forthcoming MRE update.

Regional Potential

Results from the Company's soil-till sampling programmes conducted east along
strike for approximately 3 kilometres and west for approximately 12 kilometres
from the BAM Gold Deposit further support the potential for significant gold
mineralisation in these areas. Soil-till sampling has established the presence
of widespread anomalous gold and multiple gold trends, confirming the
potential of this area to contain extensions of the BAM Gold Deposit.

BAM Resource

BAM is located approximately mid-way along a highly prospective Archean
greenstone belt, which traverses the Junior Lake Property from east to west
for over 45 kilometres. The favourable greenstone belt ranges from 0.5 to 1.5
kilometres wide and hosts multiple known gold occurrences including the
Lamaune Gold Prospect.

The pre-existing MRE for BAM, announced by the Company on 8 February 2022,
reported 49,231,000 tonnes (t) at 1.0 g/t for 1,496,000 ounces of gold
including 30,965,000t at 1.0g/t for 1,029,000 ounces gold in the Indicated
Category.
 

Junior Lake Property

The Junior Lake Property, 100% owned by Landore Resources, together with the
contiguous Lamaune Iron property (90.2% owned) and BAM Extensions claims
(together, the "Junior Lake Property"), consisting of 32,768 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 -

Engage with us by asking questions, watching video summaries and seeing what
other shareholders have to say on our Interactive Investor hub at:

Landore Resources Investor Hub (https://investors.landore.com/link/XyM8bP)

For further information, please contact:

 Landore Resources Limited                     contact@landore.com

 Alexander Shaw (CEO)                          https://investors.landore.com/s/051b30

                                             (https://investors.landore.com/s/051b30)
 or engage with the Company directly:
 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)                landore@buchanancomms.co.uk

 Bobby Morse/Oonagh Reidy                      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, as well as generating additional value from its
non-core portfolio of precious and battery metals projects in eastern Canada
and the USA.

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  DRLGPURWQUPAGBM