- Landore Resources Limited NPV
- 18 June 2025 14:08:51
Source: Sharecast
The AIM-traded firm said the results would support an updated mineral resource estimate (MRE) due in the third quarter.
It said it drilled 14 holes totalling 3,549 metres, including 1,000 metres of infill drilling.
Eastern zone drill hole 0425-856 returned 1.03 metres at 10.6 grams of gold per tonne, confirming down-dip continuity, while western zone hole 0425-860 reported one metre at 9.97 grams per tonne, highlighting the potential of the gabbroic units.
The programme had extended BAM’s indicated resources a further 150 metres eastward and reinforced confidence in the orebody’s continuity and grade consistency, with results indicating potential for both resource expansion and conversion of inferred ounces to indicated status.
“These results from our latest drilling at BAM are extremely encouraging,” said chief executive officer Alexander Shaw.
“We have successfully extended the mineralisation to the east, identified high-grade intercepts at depth in the eastern area and revealed strong gold potential within the gabbroic units to the west - all of which serve to reinforce the growing geological and economic significance of BAM.”
Shaw added that with gold trading above $3,400 per ounce, the company was advancing the project at a favourable point in the commodity cycle.
At 1350 BST, shares in Landore Resources were down 3.77% at 3.32p.
Reporting by Josh White for Sharecast.com.