An updated estimate increased JORC-compliant resources at the BAM gold deposit, part of Landore Resources Ltd.'s Junior Lake property in Ontario, to 28.8 million tonnes grading 1.03 g/t gold for 951,000 ounces of gold contained using a cutoff of 0.3 g/t gold. Resources increased 53% in terms of contained ounces relative to a 2018 resource update.
The BAM deposit now hosts indicated resources of 701,000 ounces of gold within 20.2 Mt and inferred resources of 250,000 ounces within 8.6 Mt, the company said Jan. 8. It used data from 169 drillholes for a total of 31,594 meters for the update.
The estimate modeled potential mineralized material in targets adjacent to the current delineated deposits for a possible 441,000 ounces of gold within 14.8 Mt grading 0.93 g/t gold in the unclassified category.
Landore expects a preliminary economic assessment to be completed in February that will incorporate the resource update and the results from ongoing metallurgical and geotechnical studies.
In February 2018, the company reported a higher nickel equivalent resource estimate in the indicated and inferred categories at the B4-7 deposit at Junior Lake.