Business
Progress Report - Junior Lake
Progress Report - Junior Lake.
About this update from Landore Resources Limited
[{"type":"text","content":"\n RNS Number : 9825W Landore Resources Limited 30 November 2010 \n \n\nLANDORE RESOURCES LIMITED\n(AIM Ticker: LND.L)\n \n \n 30th November 2010\n \nPROGRESS REPORT\nSUMMIT LAKE IRON DEPOSIT\nJUNIOR LAKE PROPERTY, ONTARIO, CANADA\n \nHighlights:\n \n· Landore has extended the Junior lake property claim area to include the historic Summit Lake Iron deposit. The new claims, covering 3,383 hectares (ha) are located 25 kilometres (km) north east of the Lamaune Iron project. (Lamaune Iron)\n \n· Landore has completed its Marketing and Transportation study for Lamaune Iron and has concluded that a potential market exists for iron pellets or iron nuggets in North America and that transportation of product to these markets, especially in southern Ontario, would be by direct rail. CN Rail's Trans Canadian line is just 13km from the Lamaune Iron deposit.\n \nThe Junior Lake property:\nThe Junior Lake property, covering 35,699 hectares, is located in the province of Ontario, Canada, approximately 235km north-northeast of Thunder Bay, and contains the mineral resources of the VW Nickel deposit and the B4-7 nickel, copper, cobalt and PGM deposit, the Lamaune Gold exploration target, and the Lamaune Iron exploration target.\n \nSummit Lake Iron deposit:\nIn conjunction with the above marketing and transportation study, Landore has been actively seeking to acquire additional iron deposits within a 50km radius of Lamaune Iron to increase the in-situ iron ore of the potential development past the billion tonnes and further enhance market appeal of the project.\n \nAnalysis of the recently released Ontario Government Magnetic survey, indicated a 5.6km long anomaly, similar in magnetic intensity to Lamaune Iron, to the east of the most north eastern part of the Junior Lake property.\n \nInvestigation of historic data revealed that the anomaly contained the historic Summit Lake Iron Deposit discovered in 1957 by Panther International Mining Company Ltd. Panther completed a ground magnetometer survey outlining several magnetic anomalies with magnetic strengths up to 71,660 gammas. The anomalies were...