Nevada Portfolio Review & Independent Gold Review
Landore Resources Limited has completed a review of its eight Nevada exploration properties, reinforcing management's view that these assets retain exploration merit and could offer additional shareholder value alongside its core Junior Lake Project in Ontario. Concurrently, the company has appointed APEX Geoscience Ltd to independently review the Lamaune Gold target at Junior Lake, utilizing a compiled dataset of 8,919 gold assays from 107 drill holes, which has highlighted encouraging features including a peak assay of 118.7 g/t Au and an average grade of 4.90 g/t Au for high-grade samples. These initiatives aim to unlock value by advancing core Canadian assets and properly evaluating other portfolio opportunities.
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Landore Resources Limited (AIM: LND) ("Landore" or the "Company") is pleased to provide an update on two important technical initiatives undertaken during the current quarter: a comprehensive review of the Company's Nevada exploration portfolio and the appointment of independent consultants to assess the Lamaune Gold target at its flagship Junior Lake Project in Ontario, Canada.
Nevada Portfolio Review
The Company's Projects and Resource Manager, Jack Rhodes, and VP Exploration, Justin Johnson, recently completed a review of Landore's Nevada exploration assets and the extensive historic geological information associated with the properties. The review forms part of the Company's ongoing evaluation of its non-core asset base and exploration opportunities.
Landore's Nevada portfolio comprises eight exploration properties considered to be prospective primarily for gold, together with the Spruce Mountain silver project. Nevada remains one of the world's premier mining jurisdictions and hosts several major gold mining operations, including deposits along the prolific Carlin Trend. The review focused on assessing the geological potential of the claim package, verifying historic datasets and identifying opportunities for future work programmes.
The work has reinforced management's view that the Nevada assets retain exploration merit and represent an additional source of potential value for shareholders alongside the Company's core Junior Lake property in Ontario.
Independent Review of Lamaune Gold Target
Landore is also pleased to confirm the appointment of APEX Geoscience Ltd (“APEX”), an independent Canadian geological consultancy, to undertake a review of the gold dataset compiled from the Lamaune Gold target at Junior Lake.
The appointment follows the successful compilation and validation of a substantial historical and recent gold database completed by Landore's technical team. The review dataset comprises 8,919 gold assays from 107 drill holes representing approximately 11,220 metres of drilling within the Lamaune Gold district.
As previously announced, analysis of the compiled information has highlighted several encouraging features, including a peak assay of 118.7 g/t Au, five drill holes returning grades exceeding 20 g/t Au, and 101 samples grading above 1 g/t Au. The high-grade sample population averages 4.90 g/t Au and appears concentrated within coherent geological clusters rather than isolated occurrences.
Lamaune is situated approximately 8.5 kilometres west-northwest of the BAM Gold Deposit and has historically received only limited follow-up despite the presence of significant gold mineralisation. The independent review by APEX is intended to evaluate the dataset, refine the geological interpretation and provide recommendations for future exploration and resource development opportunities.
Comment from Alexander Shaw, Chief Executive Officer:
"While our primary focus remains the advancement of the Junior Lake Property in Ontario, we continue to assess opportunities across our wider asset portfolio. The recent review of our Nevada properties has strengthened our understanding of both the geological potential and historical datasets associated with this asset. Nevada remains one of the world's leading mining jurisdictions and we believe the portfolio may offer opportunities to generate shareholder value through further exploration, strategic partnerships, joint ventures or other corporate initiatives.
"At the same time, the appointment of APEX to independently review the Lamaune dataset represents an important step in evaluating the broader gold potential of Junior Lake beyond the BAM Gold Deposit. The compilation of 8,919 assays has highlighted several encouraging characteristics of the Lamaune target, and we look forward to receiving APEX's recommendations as we assess the most appropriate path forward for this potentially significant gold system.
"Taken together, these initiatives demonstrate our commitment to unlocking value across the Landore portfolio, both by advancing our core Canadian assets and by ensuring that opportunities elsewhere within the portfolio are properly evaluated and positioned for future development."
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