Landore Resources discovers 'significant' gold prospect

Canada-focused miner Landore Resources has unearthed what it said is a "significant" gold prospect at its 100% owned Junior Lake property in Ontario.

AIM-listed Landore said drilling at BAM East area had established gold mineralisation close to the surface and at least 30 metres wide, "open along strike to the east and west and down dip".

One drill hole intersected a wide gold mineralised zone of 40.75m at 1.82 grams per tonne (g/t) of gold with two high-grade intersections of 2.25 metres at 10.28g/t and 3.00 metres at 5.74g/t, which it said indicated that the mineralisation could be coalescing as it goes deeper.

The gold prospect is located two kilometres to the east of Landore's B4-7 nickel-copper deposit and one kilometre northwest of its VW nickel deposit.

Chief executive Bill Humphries said: "The highly prospective, relatively unexplored, greenstone belt which traverses Landore's flagship Junior Lake Property for over 30 kilometres east to west, continues to yield exciting new mineral discoveries.

He added that the close proximity of the gold deposit to the other metal deposits "could provide a classic 'two plus two equals five' bonus for Landore, with the obvious substantial cost saving synergies to be gained during their future development and operation".