Landore Resources intersects further gold mineralisation at Lamaune, stakes more claims

Landore Resources (AIM: LND) said drilling at the Junior Lake-Lamaune gold prospect in Ontario continued to intersect widespread gold mineralisation, including 0.6 metres at 118.66 g/t (grammes per tonne) gold, and announced  staking additional claims for 9,472 ha (hectares) in the Keezhnik Lake area 20 km (kilometres) from its Miminiska Lake property.

Eighteen holes have so far been completed on the Lamaune gold prospect since the recommencement of drilling in January with the 118.66 g/t representing the best grade achieved to date. Other intersections include 1.95 metres at 5.68 g/t gold, including 0.6 metres at 15.69 g/t gold and 4.4 metres at 1.19 g/t gold.

Landore said it was encouraged by the results, with further results from the ongoing drilling programme currently pending. The current campaign has confirmed the presence of a mineralisation and identified two distinct zones, a southern wide, low grade gold zone and a northern narrow, high grade zone containing significant gold intersections.

The company has also announced that it has staked an additional 41 mining claim blocks for 9,472 ha in the Keezhik Lake area, located 20 kilometres north of Landore's Miminiska Lake property and 150 kilometres south east of Goldcorp's (TSX: G, NYSE: GG) Musselwhite Mine, which has 2.5 Moz (million ounces) with 2 Moz of gold in mineral reserve.

An independent technical review that was completed in 2009 on the Miminiska Lake property established the presence of two exploration targets, Miminiska Lake with 232,000 tonnes grading 5.62 g/t gold and Frond Lake with 271,000 tonnes grading 5.10 g/t gold for a total of 503,000 tonnes at 5.34g/t for 86,357 ounces of gold. Miminiska Lake and Frond Lake are 12 kilometres apart, separated by Landore's relatively unexplored Wottam claims. Drilling and prospecting on the Wottam claims has identified similar geology to that of the two exploration targets giving Wottam the potential to host additional gold deposits.

Shares in the company added nearly 4% on the news.

http://www.proactiveinvestors.co.uk/companies/news/14200/landore-resources-intersects-further-gold-mineralisation-at-lamaune-stakes-more-claims-14200.html