Landore Resources (AIM:LND) (AIM: LND) said it has validated a major gold assay dataset from its Lamaune exploration target, moving the project towards a maiden Mineral Resource Estimate.
The Junior Lake-focused gold explorer holds Lamaune roughly 8.5 km along strike from its flagship BAM Gold Deposit in Ontario, Canada, and the two sit on the same wholly-owned property.
The compilation drew on 8,919 gold assays from 107 historic drill holes over 11,220 metres of core, drilled in 2009 and 2010.
Peak assays reached 118.7 g/t gold, with five holes exceeding 20 g/t and 101 samples grading above 1 g/t.
Samples grading at least 1 g/t averaged 4.90 g/t gold, more than 230 times the background population, a pattern the company says confirms a coherent, targetable system rather than scattered high grades.
BAM already hosts 622,000 ounces of Indicated gold and 33,700 ounces of Inferred gold, estimated by SLR Consulting under CIM NI 43-101 standards.
A defined resource at Lamaune would give Landore a second gold asset on the property and reinforce its case for a district-scale system spanning the corridor between the two targets.
"These results are hugely encouraging and represent an important step forward for Landore," said Alexander Shaw, the company's chief executive.
Landore now plans to build a 3D geological model of the Lamaune dataset and prioritise the high-grade 1109/1110 and 309 hole clusters for follow-up drilling.
News Intelligence what this means for the company
Landore has validated nearly 9,000 assays from historic drilling at Lamaune, a target 8.5 km from its flagship BAM deposit on the same property, confirming a coherent gold system with samples grading ≥1 g/t averaging 4.90 g/t—over 230 times background. The company now moves toward a maiden resource estimate at Lamaune, which would establish a second gold asset and support its case for a district-scale system across the property corridor.
A maiden resource at Lamaune would add a second defined gold asset to complement BAM's 622,000 ounces of Indicated gold, potentially expanding Landore's asset base and justifying further exploration spend on the property. However, this remains a forward-looking work program; the resource estimate has not yet been published, and follow-up drilling results remain uncertain.
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