Landore reports success from Junior Lake soil sampling
Landore Resources announced the successful completion of its 2023 soil sampling programme along the Junior Lake Property's west strike on Thursday, revealing highly anomalous gold occurrences and trends.
The AIM-traded firm said the extensive programme, conducted during the summer and autumn of 2022, covered 13 square kilometres, more-than-doubling the previous number of samples collected on the property.
In total, the programme collected 1,699 samples, bringing the total to 3,852 soil samples.
The soil sampling programme had now extended 16 kilometres from the Placer Dome gold prospect in the west to the east of the BAM gold deposit along the Junior Lake shear zone.
Landore said the sampling confirmed the presence of highly anomalous gold occurrences and trends on the Felix prospect, extended soil sampling further to the south of Felix, and identified direct drill targets.
Additionally, the 2022 soil sampling confirmed the presence of highly anomalous strategic and precious metals occurrences and trends running parallel to, and to the south of, those gold trends, along strike to the west of the B4-7 deposit and VW deposit, a distance of 13 kilometres.
“The highly successful 2022 exploration drilling and soil sampling programmes on the Junior Lake Property have identified new targets for both gold and strategic metals which have the potential of being advanced into additional resources,” said chief executive officer Bill Humphries.
“This further supports the directors' opinion that the Junior Lake Property has the excellent potential to host significant volumes of both gold and the highly sought-after strategic metals for battery production.”
Humphries said the “burgeoning” gold price, currently testing the $2,000 level, further encouraged Landore to concentrate its resources on advancing the BAM gold project towards development, through growth of the resource and the completion of a pre-feasibility study to increase confidence levels.
“Meanwhile, the company will continue to review alternative ways of advancing its strategic metals assets, including investigating possible joint venture partnership, a strategic partner or potential sale.”
At 1321 BST, shares in Landore Resources were up 1.39% at 12.8p.
Reporting by Josh White for Sharecast.com.