Landore believes BAM gold deposit contains more bang for the buck – by Staff (Northern Ontario Business – September 8, 2020)

Higher gold prices has Landore Resources rethinking the size and scale of a proposed open-pit gold mine near Armstrong in northwestern Ontario.

The United Kingdom company has designed a drill program next month to break out to the east and west from an established gold deposit that already contains more than a million ounces.

In a Sept. 1 news release, Landore said last winter’s preliminary economic assessment (PEA) for its BAM gold deposit was based on a US$1,560 gold price. Things have changed considerably with gold now hovering close to US$2,000.

That means reconsidering the five scenarios they’ve been mulling over through a pit optimization review.

The BAM gold deposit is on the company’s larger 30,500-hectare Junior Lake property, 75 kilometres northeast of Armstrong. Landore has been drilling there since 2015.

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