StockMarketWire.com - Landore Resources reports a maiden resource estimate of 301,000 ounces of gold for the BAM East deposit on its Junior Lake property in Ontario, Canada.

The company retained Roscoe Postle Associates to complete an initial mineral resource estimate for the deposit and to prepare a supporting technical report which is compliant with the requirements of National Instrument 43-101 Standards of Disclosure for Mineral Projects (NI 43-101).

Highlights:

- US$5 per ounce of gold discovery cost with the drill success rate at 36 ounces of gold per metre drilled (8,436 metres total).

- 98 percent combined gold recovery by gravity concentration followed by cyanidation leach extraction of the gravity tail.

- Review by RPA has been successful in outlining the favourable BAM Sequence along a strike length of approximately five kilometres.

Landore chief executive Bill Humphries said: "I am delighted to announce Landore's Maiden resource of 301,000 ounces of gold for our exciting BAM East gold deposit, which has been rapidly taken from discovery to resource in just one year.

"Our remarkably low discovery cost further underlines the significant growth potential of the BAM East Gold Deposit.

"In addition, exploration drilling has succeeded in establishing the potential for the highly prospective Junior Lake Shear, which traverses Landore's Junior Lake Property from east to west, to host other gold occurrences.

"Our work programme this year is aimed at further growth of the existing resource, discovery of further gold deposits along the Junior Lake Shear and progressing the BAM East gold deposit towards development by initiating a pre-feasibility study by year end.

"This gold discovery and its advancement is a remarkable achievement by Landore's exploration team and is a testament to their dedication and perseverance in the exploration of the Junior Lake property."


At 9:15am: [LON:LND] Landore Resources Ltd share price was +0.05p at 3.38p



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