Landore drills more Bam gold at Junior Lake

• Hole 0421-793: 40 metres grading 0.58 g/t gold, including 1 metre at 5.57 g/t and 15.1 metres grading 1.75 g/t gold, including 0.6 metre at 29.4 g/t;
• Hole 0421-794: 13.9 metres at 0.76 g/t gold, including 3.7 metres at 3.83 g/t;
• Hole 421-795: 8 metres grading 0.91 g/t gold and 11.6 metres grading 0.55 g/t gold;
• Hole 421-796: 18.5 metres grading 0.87 g/t gold, including 10.2 metres at 1.14 g/t; and
• Hole 421-797: 16.1 metres grading 0.7 g/t gold and 10.1 metres grading 1.28 g/t gold, including 0.9 metre at 8.2 g/t.

The 2020-21 drilling program consists of 23,000 metres of HQ core drilling. The resource estimate will be updated when the program is completed.

In January 2020, Landore announced the results of a preliminary economic assessment for the Bam project. The base case projected a mine life of 6.25 years, during which time 12.7 million tonnes of ore grading 1.26 g/t gold would be mined. With a recovery rate of 95%, the deposit would produce 488,982 oz. of gold.

Using a gold price of US$1,500 per oz., Bam was given an after-tax net present value of US$124.9 million and an after-tax internal rate of return of 35.5%. Gold would be produced at an all-in sustaining cost of US$806 per oz. The project would have a 3.5-year payback period after an initial capex of US$93.8 million.

Landore’s Junior Lake property, also hosts the B4-7 nickel-copper-cobalt PGM deposit, the VW nickel-copper-cobalt deposit, the Lamaune gold prospect, and other base and precious metals occurrences.

Find more information on www.Landore.com.