LAURION announces channel sample assay results including 4.25 m grading 5.98 g/t gold and 9.93 g/t silver at CRK Zone, Ishkoday Project, Ontario

- October 13th, 2020

THIS NEWS RELEASE IS INTENDED FOR DISTRIBUTION IN CANADA ONLY AND IS NOT INTENDED FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR DISSEMINATION IN THE UNITED STATES . Three channel sample lines show continuity of high-grade mineralization for > 29 m along strike High grade intersections include: 4.25 m grading 5.98 gt gold, 9.93 gt silver, 2.84% zinc Including 0.99 m grading 24.4 gt gold, 22.3 gt silver, …

/THIS NEWS RELEASE IS INTENDED FOR DISTRIBUTION IN CANADA ONLY AND IS NOT INTENDED FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR DISSEMINATION IN THE UNITED STATES ./

  • Three channel sample lines show continuity of high-grade mineralization for > 29 m along strike
  • High grade intersections include:
    • 4.25 m grading 5.98 g/t gold, 9.93 g/t silver, 2.84% zinc
      • Including 0.99 m grading 24.4 g/t gold, 22.3 g/t silver, 2.37% zinc
    • 1.51 m grading 2.58 g/t gold, 21.2 g/t silver, 7.18% zinc

LAURION Mineral Exploration Inc. (TSXV: LME) (OTCPINK: LMEFF) (“LAURION” or the “Corporation”) is pleased to report surficial channel sampling assays of the Joe vein, located within the CRK Zone, Ishkoday Project. The Joe vein is a target of LAURION’s ongoing 2020 phase 2 drill program.

The main CRK trenched area ( Figure 1 ) hosts both polymetallic (gold-silver-copper-zinc) mineralization and gold-bearing quartz veins, as well as north-trending polymetallic mineralization. In areas where these mineralized orientations converge, the grade and width of mineralization increase (see September 29, 2020 news release).

The Joe vein is a north-striking and subvertical polymetallic vein that was extended and deformed during the emplacement of subsequent gold-bearing quartz veins. Previous work mainly focused on the NE-trending mineralization, which is the dominant trend in the Loki trend of the Ishkoday Project. However, surficial channel sampling suggests that these N-striking structures are also important hosts of high-grade gold, silver and base metal mineralization.

Surface mapping of the Joe vein suggests that it initiated as a polymetallic vein that was subsequently deformed into a shear zone and enriched in gold and silver. Channel sampling shows a zoned structure with high-grade gold and silver in the center and a lower-grade gold-silver margin ( Figure 2a ). Zinc and copper mineralization show a similar trend, but the base metal zonation is wider ( Figure 2b ). Table 1, below, gives the significant channel sample assay results.

Table 1: Individual and interval channel sample results from channel sampling of the Joe vein, CRK area. Composite assay results are shown.

Sample ID

Length (cm)

Azimuth (°)

Gold (g/t)

Silver (g/t)

Copper (wt%)

Zinc (wt%)

2.91 m @ 0.68 g/t gold, 4.59 g/t silver, 1.82 % zinc

B617039

92

289

0.22

0.25

0.00

0.49

B617040

43

289

1.88

1.10

0.00

0.04

B617041

82

289

0.39

1.90

0.02

0.60

B617042

40

289

1.44

21.40

0.38

7.79

B617043

34

289

0.17

7.50

0.12

3.56

4.25 m @ 5.98 g/t gold, 9.93 g/t silver, 2.84 % zinc

B617046

29

309

0.06

2.70

0.01

0.83

B617047

48

309

0.10

3.40

0.03

2.84

B617048

58

309

0.73

8.60

0.04

1.54

B617049

39

309

0.31

6.20

0.13

3.11

B617051

61

309

0.35

7.60

0.10

7.86

B617052

99

309

24.40

22.30

0.13

2.37

B617053

47

309

0.76

7.10

0.10

2.23

B617054

44

309

0.13

5.30

0.14

0.36

1.51 m @ 2.58 g/t gold, 21.2 g/t silver, 7.18 % zinc

B617058

62

287

0.02

0.25

0.00

0.11

B617059

62

287

0.05

3.40

0.03

1.29

B617060

51

287

1.23

38.30

0.30

11.95

B617061

38

287

8.54

27.30

0.28

10.40

Diamond Drill Program update
2020 Phase 2 drilling is underway at the CRK Zone (see September 29, 2020 news release) and 1,357 m have currently been drilled. Results from this drilling are pending.

Qualified Person

Mr. David Lewis , P. Geo. (PGO), LAURION ‘s Exploration Manager, is a Qualified Person as defined by National Instrument 43-101 and has reviewed and approved the content of this news release.

Channel samples are individually cut, perpendicular to mineralization, using a double-bladed saw to specific lengths. Samples are cut to approximately 5cm width and 10 cm depth, with individual samples weighing approximately 1.5 to 4 kg. Channel samples are inserted into individual plastic bags, labelled and containing unique sample tags, and sealed. Aluminum tags with the sample tag information are inserted at the beginning of each channel sample cut. Collected field data includes sample number, channel azimuth, sample length, rock type and GPS UTM coordinates. Samples are catalogued and industry-standard Quality Assurance/Quality Control (QA/QC) samples are added, including standards, duplicates and blanks, in a pre-established order. Samples are then sealed in nylon bags and shipped by LAURION personnel to the ALS facility in Thunder Bay, Ontario .

All core and channel samples have been assayed by ALS Laboratories in Thunder Bay, Ontario . Samples are processed by 4-acid digestion and analyzed by fire assay on 50 g pulps and ICP-AES (Inductively-Coupled-Plasma – Atomic-Element-Spectroscopy). Over limit analyses are reprocessed with gravimetric finish.

About Laurion Mineral Exploration Inc.

The Corporation is a junior mineral exploration and development company listed on the TSX-V under the symbol LME and on the OTCPINK under the symbol LMEFF. The Corporation currently has 197,139,978 outstanding shares, of which approximately 71% 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 recently acquired Brenbar Property, which is contiguous with the Ishkoday Property, hosts the historic Brenbar Mine and LAURION believes that the mineralization to be a direct extension of mineralization from the Ishkoday Property.

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, and 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.

NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICE PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THE CONTENT OF THIS NEWS RELEASE.

SOURCE Laurion Mineral Exploration Inc.

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