Gold digger Landore Resources(LSE: LND) made headlines in Wednesday business with the release of latest drilling data.
Landore declared that it continues to encounter wide zones of gold mineralisation, including high grade intersections, at its BAM East Gold project at its Junior Lake property in Ontario, Canada. The business noted that one particular hole showed a width of 18.79 metres at 3.65 grams per tonne of gold.
Landore said that the spring/summer drilling campaign is now drawing to a close, the mining play having drilled a total 59 holes to date totalling a length of 9,920 metres.
Chief executive Bill Humphries said: "I am very pleased with the results to date from this current drilling campaign steadily advancing the Inferred resource to Indicated Category together with extending the delineated resource to the east and west to 1,000 metres in length."
He added: "Indications are that the BAM East Gold deposit has the potential for substantial growth."
Landore also noted that it has completed a review of the previously discovered gold occurrences along the 30km Greenstone belt which crosses its Junior Lake property. This study confirmed that several of these prospects "were similar in geology and mineralisation to the BAM East Gold Deposit highlighting the potential for other similar deposits along this trend," the firm said.
And Landore advised that it will launch an "extensive exploration and geophysics campaign along this trend... aimed at identifying additional gold prospects," once the current drilling programme draws to a close.
Exciting, but not without risk
Investing in early-stage explorers is always risky business, of course. While Landore is clearly making good progress with its very exciting project, the timings and size of potential payloads can never be guaranteed.
And Landore is not drawing down revenues as yet. These rang in at £1.13m versus £859,302 in 2015 and the company saw post-tax losses rise to £1.72m last year from £1.54m in the prior period as exploration costs climbed.
Clearly it may not be suitable for risk-averse investors. But brave share pickers tempted to take the plunge could literally and metaphorically strike gold should work at the company's Canadian assets go to plan.
A stylish growth share
I am certainly convinced that JD Sports Fashion (LSE: JD) has what it takes to deliver dynamite shareholder returns in the years ahead, its overseas footprint providing ample growth potential irrespective of tougher conditions in the company's UK marketplace.
The retail colossus saw revenues rocket 31% in the year to January 2017, to £2.38bn, it advised in April. This result powered adjusted pre-tax profit 56% higher to £244.8bn. And I reckon JD's next set of financials due tomorrow (first-quarter numbers are slated for release) could drive its share price to the stars once again.
The City certainly expects earnings to keep chugging northwards, and the 'King of Trainers' is anticipated to follow estimated earnings growth of 14% in fiscal 2018 with an additional 10% rise the following year. Given the success of JD's ambitious, multi-year expansion strategy, I reckon a subsequent forward P/E ratio of 18.2 times is very good value for money.
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Royston Wild has no position in any shares mentioned. The Motley Fool UK has no position in any of the shares mentioned. Views expressed on the companies mentioned in this article are those of the writer and therefore may differ from the official recommendations we make in our subscription services such as Share Advisor, Hidden Winners and Pro. Here at The Motley Fool we believe that considering a diverse range of insights makes us better investors.