Business
Updated Mineral Resource Estimate
Updated Mineral Resource Estimate.
About this update from Landore Resources Limited
[{"type":"text","content":"\n \nRNS Number : 8846D Landore Resources Limited 05 February 2018 \n\nLANDORE RESOURCES LIMITED\n(AIM Ticker: LND.L)\n \n \n \nUPDATED MINERAL RESOURCE ESTIMATE\nB4-7 NICKEL-COPPER-COBALT-PLATINUM-PALLADIUM DEPOSIT\nJUNIOR LAKE PROPERTY\n \nLondon, United Kingdom - 5 February 2018 - Landore Resources Limited (AIM:LND) (\"Landore Resources\" or \"the Company\") is pleased to announce the Updated Mineral Resource estimate for the B4-7 Nickel-Copper-Cobalt-Platinum-Palladium Deposit on its Junior Lake Property, Ontario, Canada (\"B4-7 Deposit\").\n \nHighlights:\n \n· Additional drilling at the B4-7 Nickel-Copper-Cobalt-PGE's Deposit since the completion of the 2012 Mineral Resource estimate has increased the total resource by 43% to 3,292,000 tonnes at 1.20% Nickel equivalent (NiEq) in the Indicated category and 568,000 tonnes at 1.26% NiEq in the Inferred category for a total of 46,661 tonnes of contained metal. \n· The open pit component of the B4-7 Deposit has successfully been doubled to 1,772,000 tonnes at 1.20% NiEq in the Indicated category for 21,264 tonnes of contained metal. \n· Drilling has extended the B4-7 Deposit an additional 200 metres to a strike length of 900 metres and a depth of 550 metres, and remains open along strike and at depth.\n· A new Exploration Target has been identified down dip from the above resource which may contain a potential 1.5 Mt to 2.0 Mt of sulphide mineralisation of similar grade range to that which has been outlined to-date (potential 18,000 to 24,000 tonnes of contained metal). \n \n Commenting on this report, the Chairman of Landore Resources, Bill Humphries, said:\nWe are very pleased with the significant increase in the B4-7 Deposit resource and its potential for continued growth. The burgeoning world prices of all of the B4-7 Deposit's contained metals, Nickel-Copper-Cobalt-Platinum-Palladium and Gold, together with the Deposit's proximity to the BAM East Gold Deposit with obvious development synergies, has further highlighted the prospectivity of the Junior Lake Property. \nAt this stage, Landore's primary objective remains to advance the BAM East Gold Deposit to the next level of study and continue exploration for gold in t...