Landore upbeat on exploration progress in Ontario

12th Apr 2022 13:38

(Sharecast News) - Landore Resources updated the market on its review of the 'Lithium Zone' on the Junior Lake Property in the Canadian province of Ontario on Tuesday.

The AIM-traded firm said that, in light of the "significant increase" in demand for battery metals- in particular lithium - it was planning to restart exploration of the "highly prospective" northern zone of Junior Lake.

It said this 'Lithium Zone' is host to the Landore-discovered Swole Lake and Tape Lake pegmatites, together with the historic Despard occurrence, where the first drill hole reported up to 1.68% lithium oxide over 6.1 metres.

A field exploration programme was planned to begin in June.

At the Felix Drill programme, meanwhile, Landore said "extreme" winter conditions had delayed the start of drilling in the area until after the spring thaw, with operations now expected to begin in early July.

Looking at the BAM Gold Deposit, Landore said it had engaged Cube Consulting to complete a mineral resource estimate and prepare an independent technical report on the deposit.

"The completion and publication of the report is now anticipated in May," the board said in its statement.

Finally, at the Junior Resource, Landore said it had produced a "compilation plan" of a 16-kilometre stretch of the area showing drill-assay results brought to the surface for gold, nickel, copper, cobalt and palladium minerals.

"The results clearly show trends and potential targets as well as the delineated resources," the company added.

At 1240 BST, shares in Landore Resources were down 5.56% at 22.43p.