Landore Resources Limited (LON:LND) said drilling on the BAM gold deposit at its Junior Lake Property continues to reveal visible gold in several intersections.
The drilling programme is progressing as planned and all drill holes have intersected prospective mineralised zones associated with the BAM gold deposit, Landore told investors.
Initial results include:
Key: AU = gold; g/t = grams per tonne
Interpretive work and conceptual modelling conducted by Landore’s senior geological consultant and independent engineers have indicated the gold mineralisation resides within a series of tabular shaped zones orientated in what is roughly an en-echelon configuration, generally parallel to the overall strike of the host rock units.
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Shoots of significant gold mineralisation within the BAM east pit and BAM west pit zones are interpreted to dip approximately 30º to the west. Preliminary interpretation of drilling results has indicated the potential for repeating shoots of significant gold mineralisation along strike east and west of the defined BAM resource, Landore added.
Results from the 2019/2020 soil-till sampling programmes conducted west along strike for about seven kilometres and east for around two kilometres from the BAM deposit further support the potential for significant gold mineralisation in these areas. Soil-till sampling has established the presence of widespread anomalous gold and multiple gold trends, confirming this area’s potential to contain extensions of the BAM gold deposit, Landore asserted.
The exploration drilling currently taking place will follow up on these results to hopefully confirm the presence of repeating gold-bearing shoots along strike east and west of the defined BAM gold deposit.
When the drilling programme is concluded the company is planning to commission an updated mineral resource estate and preliminary economic assessment on the BAM deposit at the Junior Lake property in Ontario, Canada.
Shares in Landore initially rose to 42.5p on the release of the drilling results from 39.75p overnight but have fallen back to 38.5p.