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Laurion Mineral Exploration Inc. (TSXV: LME) (OTCPINK: LMEFF) ("LAURION" or the "Corporation") is pleased to announce assay results from the first three (3) diamond drill holes designed to expand the gold-and-zinc-rich mineralization at the A-Zone; located within a 2km segment of the 6 km long Ishkoday mineralized trend. The A-Zone trend is located on the southeastern portion of the Ishkoday project which LAURION is targeting with a 15,000 m drill campaign, which commenced on January 14, 2022 . The Ishkoday project comprises an area of 47 km 2 with initial exploration focus in areas accessed via the road 801, approximately 20 km northeast of Beardmore, Ontario .
The drilling confirmed the current geological interpretation and 3D model for the mineralization at the A-Zone. The interpreted mineralized horizon and veins, believed to be associated with syn-volcanics hydrothermal activity and later orogenic events, have been intercepted in all holes from the 2022 drill campaign. The redefined interpretation illustrates the stacked nature of the mineralization extending over more than 2 km strike length and 200 m width from the CRK Zone to the A-Zone.
In this newly drilled area, gold-and zinc-rich mineralization were intercepted returning:
- LBX22-057: 1.21g/t Au, 6.40% Zn and 0.80% Cu over 8.70 m , including 1.67 g/t Au, 10.56% Zn, and 0.79% Cu over 2.68 m ; 1.75 g/t Au, 13.36% Zn and 2.09% Cu over 1.45 m
- LBX22-056a: 0.85 g/t Au, 1.98% Zn and 0.18% Cu over 3.45 m , including 1.55 g/t Au, 7.79% Zn and 0.27% Cu over 0.5 m
- LBX22-058: 1.55 g/t Au, 1.12% Zn, 0.11% Cu over 1.30 m , including 2.79 g/t Au, 1.85% Zn and 0.15% Cu over 0.70 m
Along the Ishkoday mineralized trend, two mineralization styles were identified:
- gold-and-zinc-rich volcanogenic veins/horizons and:
- orogenic style gold veins
A-Zone Assay Results Highlights
Hole ID | From | To | Length | Au | Zn | Cu |
m | m | m | g/t | % | % | |
LBX22-056 | 13.50 | 15.50 | 2.00 | 0.26 | 1.59 | 0.08 |
LBX22-056a | 13.50 | 14.30 | 0.80 | 2.33 | 2.63 | 0.54 |
LBX22-056a | 127.55 | 131.00 | 3.45 | 0.85 | 1.98 | 0.18 |
including | 128.60 | 129.10 | 0.50 | 1.55 | 7.79 | 0.27 |
including | 129.70 | 130.20 | 0.50 | 1.01 | 2.06 | 0.28 |
LBX22-056a | 136.20 | 146.10 | 9.90 | 0.25 | 1.79 | 0.08 |
including | 136.20 | 138.00 | 1.80 | 0.37 | 3.70 | 0.20 |
including | 139.00 | 140.00 | 1.00 | 0.50 | 3.24 | 0.08 |
LBX22-056a | 161.70 | 163.46 | 1.76 | 0.60 | 6.66 | 0.33 |
including | 162.86 | 163.46 | 0.60 | 0.86 | 15.00 | 0.43 |
LBX22-057 | 144.00 | 146.75 | 2.75 | 0.20 | 4.00 | 0.11 |
including | 144.00 | 144.50 | 0.50 | 0.56 | 9.18 | 0.20 |
including | 146.15 | 146.75 | 0.60 | 0.40 | 10.40 | 0.31 |
LBX22-057 | 152.50 | 155.85 | 3.35 | 0.17 | 1.04 | 0.02 |
including | 155.35 | 155.85 | 0.50 | 0.85 | 5.10 | 0.09 |
LBX22-057 | 171.00 | 173.50 | 2.50 | 0.47 | 1.07 | 0.03 |
including | 171.00 | 171.50 | 0.50 | 0.84 | 3.33 | 0.07 |
LBX22-057 | 222.55 | 231.25 | 8.70 | 1.21 | 6.40 | 0.80 |
including | 222.55 | 224.00 | 1.45 | 1.75 | 13.36 | 2.09 |
including | 228.57 | 231.25 | 2.68 | 1.67 | 10.56 | 0.79 |
LBX22-058 | 41.00 | 42.30 | 1.30 | 1.55 | 1.12 | 0.11 |
including | 41.60 | 42.30 | 0.70 | 2.79 | 1.83 | 0.15 |
*Note that the mineralized structures are interpreted to be steeply dipping and the intervals are not true width.
The current drilling campaign for the A-Zone also included:
- Three drill holes located along strike from these initial holes (LBX22-056, LBX22-057 and LBX22-058) that also intersected gold-and zinc rich veins ( assays pending ), which confirms that the A-Zone extends significantly to the southwest over a newly opened strike area of more than 700 m .
- Four new planned drill holes to further test the southwest extension of the A-Zone.
- Two drill holes located in the northeastern portion of the A-Zone have tested the mineralization zone at depth and intersected gold-and-zinc-rich veins together with gold orogenic veins ( assays pending ).
- Drilling in the A-Zone confirmed that the widest and highest-grade intercepts are dipping to the southwest at approximately 25° towards 225°, which is in line with the region stretch lineation (See Figure I , Figure 2 and Figure 3 ).
Current Drilling and Objectives
- Nine drill holes located in the McLeod zone swamp intercepted the modelled gold- and zinc-rich veins and gold orogenic veins along the northeast-trending Ishkoday mineralized trend ( assays pending ).
- If spring conditions permit, three additional drill holes are planned in the swamp to target a large chargeability anomaly coinciding with the interpreted mineralized horizons.
- Once the spring breakup occurs, the drill will be moved to the A-Zone to further investigate the newly opened area; and the continuity of the CRK and A-Zone.
- Further drilling is also planned to test the possible southeastern connection between the McLeod area and CRK Zones.
Sampling Analysis and Laboratory
Samples from the 2022 drilling were cut and sent for analysis. Preparation and analysis were completed at the Actlabs (ISO 9001:2015) laboratory in Thunder Bay . Actlabs is an internationally recognized laboratory that provides geochemical sample preparation, analytical procedures, and data management solutions.
LAURION uses a quality assurance/quality control (QA/QC) program that monitors the chain of custody of samples and includes the insertion of blanks (5% of the announced results), duplicates (3% of the announced results), and standard reference material (5% of the announced results) in each batch of samples sent for analysis. Drill core is photographed, logged, and cut in half with one half retained in a secured location for verification purposes and one half shipped for analysis.
The entire sample is crushed to 80% passing 2 mm and a riffle split of 250 grams is taken and pulverized to 95% passing 105 µm (RX1). Samples are analyzed by four-acid digestion/ICP-MS package for 36 elements (1F2). Additionally, samples are analyzed for Au using a firing assay from a 50-gram pulp (1A2B-50). Overlimit samples values for zinc (>1%) and Pb (>0.5%) are re-assayed using a four-acid digestion overlimit method with ICP-AES 9 (8-4 Acid over limit).
No QA/QC issues were noted with the results reported herein.
Qualified Person
The technical contents of this release were reviewed and approved by Jean-Philippe Paiement , PGeo, MSc, a consultant to LAURION, and a qualified person as defined by National Instrument 43-101.
About Laurion Mineral Exploration Inc.
The Corporation is a junior mineral exploration and development company listed on the TSXV under the symbol LME and on the OTCPINK under the symbol LMEFF. The Corporation currently has 249,447,945 outstanding shares, of which approximately 81% of LAURION's issued and outstanding shares are owned and controlled by Insiders who are eligible investors under the "Friends and Family" categories.
LAURION's emphasis is on the development of its flagship project, the 100% owned mid-stage 47 km 2 Ishkoday Project, and its gold-silver and gold-rich polymetallic mineralization with a significant upside potential. The mineralization on Ishkoday is open at depth beyond the current core-drilling limit of -200 m from surface, based on the historical mining to a -685 m depth, in the past producing Sturgeon River Mine. The Brenbar Property, which was acquired in 2020 and is contiguous with the Ishkoday Property, hosts the historic Brenbar Mine. LAURION believes the mineralization to be a direct extension of mineralization from the Ishkoday Property.
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Caution Regarding Forward-Looking Information
This press release contains forward-looking statements, which reflect the Corporation's current expectations regarding future events, including with respect to LAURION's business, operations and condition, management's objectives, strategies, beliefs and intentions. The forward-looking statements involve risks and uncertainties. Actual events and future results, performance or achievements expressed or implied by such forward-looking statements could differ materially from those projected herein including as a result of a change in the trading price of the common shares of LAURION, the interpretation and actual results of current exploration activities, changes in project parameters as plans continue to be refined, future prices of gold and/or other metals, possible variations in grade or recovery rates, failure of equipment or processes to operate as anticipated, the failure of contracted parties to perform, labor disputes and other risks of the mining industry, delays in obtaining governmental approvals or financing or in the completion of exploration, as well as those factors disclosed in the Corporation's publicly filed documents. Investors should consult the Corporation's ongoing quarterly and annual filings, as well as any other additional documentation comprising the Corporation's public disclosure record, for additional information on risks and uncertainties relating to these forward-looking statements. The reader is cautioned not to rely on these forward-looking statements. Subject to applicable law, the Corporation disclaims any obligation to update these forward-looking statements.
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SOURCE Laurion Mineral Exploration Inc.
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