Landore hits 'significant' gold mineralisation at Canadian deposit

Landore Resources has come across "significant" gold mineralisation to the east of its BAM Gold Deposit in Ontario, Canada.

The AIM-listed exploration company told investors it had intersected gold mineralisation of up to 26.20 grams per tonne gold over 1.02 metres in one drill hole from a depth of 77 metres.

Landore said the structure was confirmed at over 3km from zones 950E to 4,000E remaining open to the east and west and down dip.

The miner also revealed that final results for its summer resource drilling campaign had been received and were being collated for inclusion into its upcoming resource update, scheduled for completion by the end of the year.

Landore's resource update, together with ongoing metallurgical and geotechnical studies, will be incorporated into the firm's preliminary economic assessment.

Chief executive Bill Humphries, said: "The newly discovered gold mineralisation one kilometre along strike to the east of the BAM Gold Deposit further highlights the potential for there being additional discoveries within the highly prospective Archean greenstone belt traversing the Junior Lake Property from east to west for approximately 31 kilometres".

As of 0915 BST, Landore shares had shot up 14.04% to 1.34p.