Landore Resources LTD (LON:LND) has boosted the gold resource at the BAM East deposit on its Junior Lake property in Ontario by 51% to 951,000 ounces.
The average grade is 1.03 grams per tonne,
READ: Landore Resources now funded to complete preliminary economic assessment at BAM East and to take the resource up to a million ounces of gold
The updated number includes 701,000 ounces at 1.08 grams per tonne in the indicated category.
In addition, Landore has also modelled potential mineralised material in target areas adjacent to the current delineated deposits, and this could amount to a further 441,000 ounces.
The BAM East gold deposit is located approximately mid-way along a highly prospective Archean greenstone belt which traverses the Junior Lake Property from east to west for approximately 31 kilometres.
The new resource estimate will be incorporated into a preliminary economic assessment scheduled for completion in February 2019.
In early morning trading, shares in Landore Resources jumped 10.3% higher to 1.075p.
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