- Partner News
- Media Releases
- Mainstream News
London, United Kingdom 9th May 2022 – Landore Resources Limited (AIM:LND) (“Landore Resources” or “the Company”) is pleased to confirm that, further to the Company’s announcement on 8th February regarding a Mineral Resource Estimate update, Cube Consulting Pty Ltd has now completed a Technical Report and Preliminary Economic Assessment (“PEA”) on the BAM Gold Project, Junior Lake Property, Ontario, Canada (“BAM Gold Project”).
In addition, Landore Resources confirms that it has commenced a review of the strategic options available to the Company in relation to its Canadian subsidiary/assets (the “Strategic Review”).
Technical Report and PEA Highlights:
Commenting on this report, Chief Executive Officer of Landore Resources, Bill Humphries, said:
“This Preliminary Economic Assessment, combined with the 50% resource increase reported in February 2022, reaffirms the profitability of the BAM Gold Project. The resource has excellent growth potential remaining open at depth and along strike to the east and west, all within established mining leases which cover more than 20 kilometres potential strike length. Other exploration works completed by Landore including exploratory drilling, trenching and soil surveys have identified anomalous gold over this area and the incredible potential for future resource growth.
Over half of the gold resources delineated to date are extractable by cost‐effective open pit mining. This coupled with the 98% recovery achieved by conventional milling demonstrates the BAM Gold Deposit’s potential for low capex costs and economical mining operation. Other advantages include the project’s road accessibility and proximity to national rail thus ensuring secure market access.
It is the Company’s belief that the highly prospective Junior Lake Property has the potential to host multi‐million ounce gold resources and is now exploring various strategic options to ensure the development of this rapidly‐growing asset to the benefit of shareholders.”
The full Technical Report and Preliminary Economic Assessment can be found on Landore’s web site www.landore.com
Extracts from CUBE Technical Report and Preliminary Economic Assessment May 2022:
Cube Consulting Pty Ltd (Cube) was engaged by Landore Resources Canada Inc. (Landore) to complete a Mineral Resource estimate (MRE) and conduct a preliminary economic assessment (PEA) for the BAM Gold Project, in compliance with the requirements of the Canadian National Instruments 43‐101 Standards of Disclosure for Mineral Projects (NI 43‐101).
154 total views, 2 views today