Landore Resources Ltd. on Feb. 5 reported a higher nickel equivalent resource estimate in the indicated and inferred categories at the B4-7 deposit on its Junior Lake polymetallic project in Ontario.
Drilling at the deposit, which is prospective for nickel, copper, cobalt, platinum, palladium and gold, increased the total resource by 43% over the previous estimate to 3.3 million tonnes grading 1.20% nickel equivalent in the indicated category and 568,000 tonnes in the inferred category, for a total of 46,661 tonnes of contained metal.
The deposit's open pit component now totals about 1.8 million tonnes at 1.20% nickel equivalent in the indicated category for 21,264 tonnes contained.
Drilling extended the deposit 200 meters to a strike length of 900 meters and a depth of 550 meters remaining open along strike and depth.
Landore said it also found a new exploration target downdip from the current resource that may contain 1.5 million to 2.0 million tonnes of sulfide mineralization of a similar grade range.
The resource estimate is based on drilling data as of December 2015.
