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Landore Resources Limited Review Of Exploration Potential - Junior Lake Nickel-Copper Property

(AIM Ticker: LND.L)

LONDON, Sept. 30, 2013 /CNW/ - Following the update of the Mineral Resource estimate for its B4-7 Nickel-Copper deposit on the Junior Lake property as announced on 17 January 2013, Landore Resources ("Landore or the Company") retained RPA Inc. of Toronto, Ontario, Canada ("RPA"), to review the regional geological context of the B4-7 to VW deposit area, the stratigraphic setting and style of mineralisation of the VW Nickel deposit.

RPA's conclusions include:

  • Work completed on the B4-7 and VW deposits to date has clearly demonstrated the existence of a geological environment that is favourable for the deposition of magmatic nickel-copper sulphide mineralisation.
  • Based on geophysical signatures and available geological knowledge, this favourable environment is believed to exist along a strike length of approximately 10 kilometres. At its widest the favourable rock sequences are in the order of 1,000 metres (m) to 1,500m in thickness.
  • Current magnetic signatures clearly outline that the B4-7 and VW deposits are situated along separate stratigraphic horizons. Other available geological information concurs with this interpretation.

RPA's recommendations include:

  • Continue with evaluation of the two sulphide horizons, employing a strategy that focuses on testing for the presence of additional nickel-sulphide mineralisation at shallow levels first. This evaluation can comprise a phase of rapidly screening a large volume of rock by geophysical methods, to be followed up by a focussed drill programme.

In conjunction with the B4-7 deposit upgrade, in fall 2012 Landore retained Quantec Geoscience, of Toronto, Canada ("Quantec") to conduct a deep-penetrating ORION 3D "Direct Current Induced Polarization" and "Magnetotellurics" (DCIP + MT) geophysical survey on the Scorpion Zone, covering the western portion of the B4-7 deposit and the area 1km along strike to the west. Additional resource potential of the B4-7 deposit at depth is supported by the survey which identified five new areas of interest for further exploration including a prospective zone for sulphide mineralisation at depth and dipping northward from the existing B4-7 deposit.

2014 Planned Works:

  • A 3D DCIP+MT ground geophysics survey is planned to commence January 2014 for the area spanning the eastern B4-7 deposit to immediately east of the VW deposit (an area of 7.7 square kilometres) to outline extensions of resource mineralisation as well as identify new prospective sulphide mineralisation. Preparation works are in progress.
  • A 4,000 metre drill programme to commence in September 2014 to test the prospective targets identified by the preceding geophysical survey.
  • Continue with Pre-feasibility studies.

A copy of the RPA Letter Report including full details and maps, is available on www.landore.com.

RPA was also retained by Landore Resources to complete an evaluation of the Alpha zone in the B4-7 deposit. This study focused on the structural, lithological, and genetic characteristics of the Alpha zone disseminated sulphide style of mineralisation, and was successful in identifying a portion of this zone that could be extracted by means of open pit mining methods. A total of 49,000 tonnes at 0.24% Ni, 0.08% Cu, 0.02% Co, 0.16g/t Pt, 0.94g/t Pd, 0.01g/t Au were successfully identified as being present within a potential open pit mine. Further Alpha zone mineralisation was identified below the open pit mineralisation, and remains open at depth and along the western strike extension.

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