- Landore Resources Limited NPV
- 03 March 2025 14:50:56
Source: Sharecast
The AIM-traded firm said the programme, conducted in late 2024, involved the collection of 930 drill core samples from 29 historic drill holes spanning 8.5 kilometres.
It said the results had strengthened Landore’s BAM Gold mineralisation model by confirming gold potential in previously unsampled intervals and specific lithologies, particularly within the gabbroic unit on BAM Gold’s southern flank.
Sampling at Lamaune Gold, located west-northwest of BAM, also identified anomalous gold values, indicating further mineralisation potential.
A new 3,500-metre drilling campaign was set to begin in early March.
The programme would focus on improving structural understanding, enhancing confidence in grade and resource continuity, and testing the down-dip potential of BAM Gold.
“I am most encouraged by these latest sampling results from BAM Gold, which, once again, clearly demonstrate the enormous potential of our flagship asset at Junior Lake,” said chief executive officer Alexander Shaw.
“The 2024 infill drill core sampling results indicate significant gold potential within the gabbroic lithological unit located at the southern flank of the deposit, which supports similar findings in 2023.
“Previous core samples taken at Lamaune Gold, located just 8.5km along strike from BAM Gold, also indicate potential for additional mineralisation.”
Shaw said the company’s exploration team was “looking forward” to starting the new targeted 3,500 metre drilling programme this month as it fast tracked BAM Gold's development ahead of updating the mineral resource estimate later in the year, and then updating the 2020 PEA to a pre-feasibility study (PFS) to reflect the currently elevated global gold price.
“I look forward to providing further updates as the BAM story continues to develop and flourish going forward.”
At 1434 GMT, shares in Landore Resources were down 1.47% at 3.35p.
Reporting by Josh White for Sharecast.com.