Landore Resources Ltd. reported today that exploratory drilling east in the BAM Gold Deposit on its Junior Lake Property in Ontario, Canada revealed significant gold mineralization, with 26.2 grams per tonne gold over 1.02 metres.
Only ten minutes into trading this morning and Landore’s share price has already seen a 10% jump.
The announcement is the latest good news from Landore’s three year BAM Gold Deposit project, discovered in December 2015, where widespread gold mineralisation had also been discovered during drilling campaigns this summer.To read the rest of the Article, please Sign In or Register for FREE.
Landore has scheduled a Preliminary Economic Assessment (PEA), into which this update will be incorporated, to take place in early Q1 2019.
The hope, with a positive assessment, is for Landore to demonstrate the economic viability of their ultimate goal-- eventually turning the BAM Gold Deposit into a low-cost open pit mining operation.
Bill Humphries, CEO of Landore, is optimistic about this outcome as most of the BAM Gold Deposit has yet to be explored; “The newly discovered gold mineralisation... further highlights the potential for there being additional discoveries within the highly prospective… belt traversing the Junior Lake Property.”
Follow news and updates from Landore Resources Ltd. here 