Landore Resources upbeat on BAM East drilling progress
(ShareCast News) - Landore Resources updated the market on progress made on extension and infill drilling of the BAM East Gold Project on its Junior Lake Property, Ontario, Canada on Wednesday.
The AIM-traded firm said drilling on the inferred section of the BAM East Gold deposit had intersected widespread gold mineralisation within a similar lithological package to the central zone, with multiple instances of visible gold in the drill-core.
It said the BAM East Gold deposit had now been confirmed over 700 metres of strike length and remained open down dip, to the east and to the west along strike.
The spring/summer drilling campaign was progressing on schedule, the board reported, with 12 HQ diamond drill holes for 3,311 metres completed to date with the intention of advancing the inferred part of the resource to indicated status, and to extend the currently defined resource to the west and east and down dip.
To date, results had been received for four drill holes with results pending for the remainder.
The board assured results would be reported when received and collated.
"Drilling on the BAM East Gold Project re-commenced April 1 with a total of 12,000 metres planned during this spring and summer," the board explained.
"One drill is currently focussed on further delineation and extension of the defined resource, with a second drill targeting further potential deposits on the highly prospective MaxMin geophysical anomaly MM-7, host to the BAM East Gold Deposit.
"To date, drilling at 50-metre centres has been completed from 2000E to 2400E along the southern margin of the inferred portion of the defined resource."
All drill-holes completed to date had intersected similar lithology to the central zone resource with multiple instances of visible gold in the core, Landore reiterated.
"Drilling will continue eastwards aimed at extending the deposit both down dip and along strike for a further 300 metres from 2700E to 3000E.
"The second drill is dedicated to expanding previously identified mineralised zones at 1000E and 1600E after which it will test highly prospective areas with similar lithology along the MM-7 geophysical structure from 3000E to 4000E."