RNS Number : 3397U
Landore Resources Limited
14 May 2008
LANDORE RESOURCES LIMITED
(AIM Ticker: LND.L)
JUNIOR LAKE-NICKEL PROJECT
B4-7 DEPOSIT-RESOURCE STATEMENT
B4-7 Deposit Inferred Resource:
Snowden Mining Industry Consultants (Snowden), Perth, Australia, was retained by Landore
Resources Canada Inc. (Landore) to
independently prepare an Australasian Joint Ore Reserves Committee (JORC) Code compliant
(2004) Mineral Resource estimate for the B4-7
Nickel Copper Cobalt PGE Deposit located at Landore's Junior Lake project.
Extract from the report produced by Snowden.
The B4-7 resource estimate, at various nickel equivalent cut-off grades, is detailed below
in Table 1.
Table 1 - Landore B4-7 Inferred Resource reported above various nickel equivalent (NiEQ)
cut-off grades
Cut-off (NiEQ%) Tonnes (kt) Ni% Cu% Co% Pt ppm Pd ppm
Au ppm NiEQ%
0.2 5,870 0.32 0.2 0.03 0.08 0.31
0.02 0.49
0.3 4,650 0.37 0.3 0.03 0.09 0.32
0.02 0.55
0.4 3,490 0.41 0.3 0.04 0.09 0.35
0.03 0.62
0.6 1,680 0.51 0.3 0.05 0.10 0.43
0.03 0.76
0.8 530 0.62 0.4 0.06 0.10 0.51
0.04 0.92
NiEQ = Ni% + (0.26 Cu%) + (2.38 Co%) + (0.19 Pt ppm) + (0.06 Pd ppm) + (0.12 Au ppm)
Tonnes and grades have been rounded and this may have resulted in minor discrepancies.
The most likely cut-off grade for this deposit has not been determined at this time and
must be confirmed by the appropriate economic
and mining studies. Notwithstanding this Snowden believes the ore detailed above has
reasonable prospects of eventual economic extraction
using assumptions which were valid at the time of reporting.
Extract ends.
B4-7 Mineral Resource-contained metal above 0.2%nickel equivalent (NiEQ.) cut-off.
Ni Tonnes Cu Tonnes Co Tonnes Pt Ounces Pd Ounces Au Ounces
NiEq Tonnes
Total contained metal 19,000 11,700 1,800 15,700 59,200 4,000
28,900
Commenting on the report, Chairman of Landore Resources, Bill Humphries, said:
The addition of the B4-7 Deposit to our compliant resource base significantly enhances
Landore's prospects of becoming a nickel producer
in the medium term and continues to support our faith in the huge potential of the Junior Lake
property.
Junior Lake:
The Junior Lake property is located in the province of Ontario, Canada, approximately 235
kilometres north-northeast of Thunder Bay and
is situated within the Caribou-O-Sullivan Greenstone Belt in the Wabigoon Subprovince. The
B4-7 Deposit is located toward the south eastern
end of the Junior Lake property and sits approximately 3 kilometres to the north-west of the
VW Deposit.
B4-7 Nickel-Copper-Cobalt-PGE Deposit:
During the second half of 2007 an infill drill program, consisting of 16 NQ size holes for
a total of 3,575 metres, was completed on the
historic B4-7 nickel-copper-cobalt-platinum group elements (Ni-Cu-Co-PGE) deposit.
The program successfully filled the remaining gaps in the deposit and confirmed the
continuity of the mineralization. The deposit
remains open down plunge to the west.
Extract from the report produced by Snowden.
B4-7 deposit Mineral Resource estimate
Snowden has carried out a Mineral Resource estimate which has been classified according to
JORC guidelines for the B4-7 deposit at
Junior Lake, Ontario, Canada. This estimate was based upon data supplied by Landore Resources
Limited ('Landore'). Landore provided Snowden
with a full database along with some quality control data.
Snowden has classified the B4-7 resource as Inferred using guidelines in the JORC Code
(2004). This classification reflects the
uncertainties in the quality of the assay data and the outlines of the 'massive sulphide'
domain. Metallurgical testing of the B4-7 massive
sulphide has indicated nickel recoveries between 25% and 35%. However, notwithstanding this
Landore has identified a potential profitable
treatment route for this material. Landore's officers also believe that the disseminated
material at B4-7, which has a much higher nickel to
sulphur ratio than the 'massive sulphide' material, may return higher nickel metallurgical
recoveries commensurate with those determined for
Landore's VW deposit in the same belt; however, this has yet to be verified by testwork on
B4-7 samples.
Extract ends.
Ongoing works. Snowden is currently preparing a technical report on the resource estimate
for the B4-7 deposit.
Following receipt of the technical report, drilling will re-commence on the B4-7 deposit,
with 5,000 metres being programmed for further
extension and infill drilling.
In addition, extensive metallurgical testing will be carried out on the disseminated
material of the B4-7 deposit.
James Garber, (BSc. Hons. Geology, member of APGO) a Director of Landore Resources Ltd and
a qualified person as defined in the Canadian
National Instrument 43-101, has reviewed and verified all scientific or technical mining
disclosure contained in this announcement, which is
stated in accordance with the Canadian Institute of Mining Metallurgy and Petroleum.
Ian Glacken FAusIMM(CP), CEng., Group General Manager Resources, Snowden, prepared the
resource estimate for Landore Resources Canada
Inc. and is qualified to act as a Competent Person with respect to the JORC Code (2004).
- ENDS -
For more information please contact:
Bill Humphries, Chairman Tel: +44(0)7734 681262
Richard Prickett, Chief Tel: +44(0)7775 651421
Executive www.landore.com
Landore Resources
Limited
Simon Raggett Tel: +44 (0)20 7409 3494
Strand Partners Limited
David Bick Tel: +44 (0)7831 381201
This information is provided by RNS
The company news service from the London Stock Exchange
END
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