Business
Resource Upgrade Statement
Resource Upgrade Statement.
About this update from Landore Resources Limited
[{"type":"text","content":"\n Landore Resources Limited\n26 March 2008\n\n\n LANDORE RESOURCES LIMITED\n (AIM Ticker: LND.L)\n \n 26th March 2008\n JUNIOR LAKE-VW NICKEL PROJECT\n RESOURCE UPGRADE STATEMENT\n\nTHE RECENTLY COMPLETED EXTENSION AND INFILL DRILLING CAMPAIGN ON THE VW NICKEL\nDEPOSIT HAS SUBSTANTIALLY UPGRADED THE RESOURCE:\n\n •Increasing the global resource base by 48% to 22,407 tonnes Nickel\n Equivalent (NiEq) at 0.2% Nickel cut-off grade.\n\n •Upgrading the resource significantly with 91% now in the 'Indicated'\n category. The resource estimated in 2007 by Scott Wilson RPA resource was\n all in the 'Inferred' category.\n\n •Improving the average grade of the resource by 25% to 0.45% NiEq at 0.2%\n Nickel cut-off grade.\n\n •Mineralization on the VW Nickel Deposit remains open along strike in both\n directions to the east and west as well as at depth.\n\nCommenting on the report, Chairman of Landore Resources, Bill Humphries, said:\n\nThis substantially increased Resource confirms our view of the strong economic\npotential of the VW Nickel deposit. We will be moving ahead with the scoping and\nfeasibility studies with the aim of becoming a Nickel producer whilst continuing\nto expand the 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\nCanadian National Instrument 43-101 compliant resource estimate for the VW\nNickel Deposit located at Landore's Junior Lake project, Ontario.\n\nVW resource estimate at 0.2% Nickel Cut-Off Grade,\n\nExtract from the resource estimate table produced by Scott Wilson RPA. (See\nAppendix A)\n+---------------------------------------------------------------------------+\n|Indicated Resource |\n+---------+--------+-------+-------+-------+-------+-------+-------+--------+\n|Cut-Off |Tonnes |Ni% |Cu% |Co ppm |Pt ppb |Pd ppb |Au ppb |NiEq% |\n|Grade Ni%|(000's) | | | | | | | |\n+---------+--------+-------+-------+-------+-------+-------+-------+--------+\n|0.2% | 4,490 | 0.393 | 0.054 | 155 | 28 | 36 | 11 |0.453 |\n+---------+--------+-------+-------+-------+-------+-------+-------+--------+\n\n+---------------------------------------------------------------------------+\n|Inferred Resource |\n+---------+--------+-------+-------+-------+-------+-------+-------+--------+\n|Cut-Off |Tonnes ...