Landore Resources Limited

June 23, 2005 12:07 ET

Landore Resources Limited - Progress Report

LONDON, ENGLAND--(CCNMatthews - June. 23, 2005) -

Highlights

- Junior Lake-Lamaune Lake. A 3,500 metre diamond drilling program has commenced to test encouraging mineral occurrences identified by recent geological surveys.

- Miminiska Lake. The recently completed drilling campaign succeeded in proving the depth extension of the targeted mineralised zones to a vertical depth of -250 metres with high grade gold intersected in most holes.


The Junior Lake-Lamaune Lake properties are located in the province of Ontario, approximately 235 kilometres north-northeast of Thunder Bay and are situated within the Caribou-O-Sullivan Greenstone Belt in the Wabigoon Subprovince.

The Junior Lake property is host to a nickel-copper-platinum group elements (Ni-Cu-PGE) deposit ('B4-7' zone of 2.3 million tons at 0.87%Ni and 0.58%Cu), at least 8 other Ni-Cu-PGE occurrences, a recently discovered gold occurrence ('BAM' zone), several copper-zinc occurrences and a chromium occurrence. These occurrences are hosted by several complex sequences of Archean-age supracrustal and intrusive rocks.

In May 2004, a high-resolution, Aeroquest-AeroTEM, helicopter-borne electromagnetic (EM) survey was flown over the entire 20 kilometre strike length of the Junior Lake and Lamaune Lake properties in search of additional Ni-Cu-PGE mineralization, successfully identifying at least twenty-five high conductance targets. Follow up trenching and sampling on several of these targets confirmed the presence of significant mineralisation with grab samples returning values of up to 0.84% nickel, 2.7% copper and 850ppb palladium.

A diamond drilling program totalling 3,500 metres of NQ sized core is currently being conducted to test various targets within the prospective sequences. Core samples have been sent to the assay laboratory and when full results are available a further report will be issued.

Miminiska Lake. Landore recently completed a drill program comprising 13 NQ diamond drill holes totalling 3921 metres on its wholly owned Miminiska Lake property located 115 kilometres east of Pickle Lake, Ontario. The drill program was designed to test the down-dip and plunge extensions of iron formation hosting high-grade gold intersections returned from the previous drill campaign including 9.8 gpt over 3.5m in hole 0604-33, 132.1 gpt over 0.5 metres in hole 0604-32 and 6.0 gpt over 3.5m in hole 0603-31.

The current program succeeded in proving the depth extension of the targeted mineralized zones to a vertical depth of -250 metres with high-grade gold zones intersected in most holes. The best intersections include 8.7 gpt Au over 0.6 m in hole 0604-36, 6.6 gpt Au over 1.5 m in hole 0605-42 and 9.7 gpt Au over 1.1m in hole 43. Drill hole 0604-37, designed to test the up-plunge extension of mineralization in hole 0604-33, also intersected the target zone 80 metres up-plunge, returning an assay of 6.0 gpt Au over 2.0 metres.



Significant Gold Assays: >1.0 gpt.

Drill Hole From To Intersection Gold Assay
metres metres metres gpt
0604-35 62.0 64.0 2.0 3.8
(includes) 62.0 63.0 1.0 6.4
0604-36 90.2 91.7 1.5 2.8
(includes) 90.2 90.7 0.5 6.4
224.8 225.3 0.6 8.7
0604-37 87.3 91.2 2.0 6.0
(includes) 90.0 90.9 0.9 11.1
0605-41 112.7 113.3 0.5 6.0
0605-42 333.8 335.2 1.4 6.6
0605-43 263.5 264.6 1.1 9.7
0605-44 263.3 264.0 0.7 5.0



Results of the drilling on the Miminiska property continue to reveal the abundance of gold in the area. Consequently, Landore plans to conduct a detailed review of all Miminiska drill hole data and continue with exploration of the eastern Uchi Subprovince in the vicinity of the Miminiska Lake property.


ENDS




Contact Information

  • Landore Resources Limited
    Bill Humphries
    07734 681262
    or
    Landore Resources Limited
    Richard Prickett
    07775 651421
    or
    Strand Partners Limited
    Simon Raggett
    020 7409 3494