Business
Resource Statement
Resource Statement.
About this update from Landore Resources Limited
[{"type":"text","content":"\n Landore Resources Limited\n19 February 2007\n\n\n LANDORE RESOURCES LIMITED\n (AIM Ticker: LND.L)\n\n JUNIOR LAKE-NICKEL PROJECT\n\n RESOURCE STATEMENT-PROPOSED WORK PROGRAM 2007\n\nVW Zone Nickel Inferred Resource:\n\nScott Wilson Roscoe Postle Associates Inc. (Scott Wilson RPA), Toronto, was\nretained by Landore Resources Canada Inc. ('Landore') to independently carry out a\nresource estimate for the VW zone located at Landore's Junior Lake project,\nOntario, and to prepare a National Instrument 43-101 compliant technical report.\n\nVW Zone Inferred Resource at 0.2% Nickel Cut-Off Grade,\nTonnes Ni% Cu% Nickel Tonnes Copper Tonnes\n4,202,776 0.34 0.05 14,300 2,100\n\nBased on Scott Wilson RPA's review of metal prices, mill recoveries, generic\nsmelter recoveries and terms, preliminary transport costs and estimate of\npreliminary open pit mine operating costs likely to apply at the VW Zone site,\nthe 0.2% Ni cut-off grade is reasonable for the statement of Inferred Resources\nat this time.\n\nMineral resources were estimated by Scott Wilson RPA using assumed long term\nmetal US$ prices of $7.00/lb nickel (Ni), $1.50/lb copper (Cu), $875/oz platinum\n(Pt), $300/oz palladium (Pd) and $500/oz gold (Au).\n(The average spot prices for January 2007 were, nickel $17.00/lb and copper\n$2.50/lb.)\n\nScoping Study:\n\nLandore is very encouraged with the above results, particularly as the Inferred\nresource has been delineated on just 300 metres (m) of strike length and to an\naverage depth of approximately 250m. The VW Zone remains open along strike at\nboth ends and to depth where there is potential to develop additional resources.\nLandore is further encouraged with the successful in-fill and extension drilling\ncompleted late last year on the adjacent B4-7 Ni-Cu Zone\n\nAccordingly, Landore has engaged Scott Wilson RPA to undertake a scoping study\n(preliminary assessment) to determine potential economics for mining the VW and\nB4-7 Zones and to identify the target resource base that will support mining at\nthe Junior Lake project.\n\nJunior Lake:\n\nThe Junior Lake properties are located in the province of Ontario, approximately\n235 kilometres north-northeast of Thunder Bay and are situated within the\nCaribou-O-Sullivan Greenstone Belt in the Wabigoon Subprovince.\n\nDuring this past summer a diamond drilling campaign significan...