LAURION Announces New Structural Model at Ishkoday Project extends A-Zone Gold Corridor Target to 1.4 km Strike Length

- June 11th, 2020

Laurion Mineral Exploration Inc. is pleased to provide a progress report on exploration at its 100% owned Ishkoday Project and contiguous Brenbar earn-in option Project located 220 km northeast of Thunder Bay, Ontario.

Laurion Mineral Exploration Inc.  (TSXV:LME, OTC:LMEFF) is pleased to provide a progress report on exploration at its 100% owned Ishkoday Project and contiguous Brenbar earn-in option Project located 220 km northeast of Thunder Bay, Ontario, near the town of Beardmore. The first stage 2020 drill campaign has now completed 15 holes for a combined 3,600 m of drilling. Assay results for 11 holes remain outstanding. The drill has now moved 800 m southwest of the main A Zone.

Infill assay sampling of five 2011 – 2014 LAURION drill holes has identified several additional significant gold intersections. These holes were drilled along the A Zone corridor and are 1.4 km along trend (Figure 1). New assay values, along with previously-announced results are presented in Table 1 and hole location and orientation data are given in Table 2. Highlights are:

  • Hole LBX14-016: 1.5 m at 2.93 g/t gold (new 2020 assay)
  • Hole LJ11-001: 0.5 m at 3.72 g/t gold, 3.8 g/t silver (new 2020 assay)
  • Hole LME14-031: 1.8 m at 27.8 g/t gold, 13.1 g/t silver, 1.21 % zinc (previously-reported 2014 assay)

Commented David Lewis, Exploration Manager: “These updated assay results are significant as they coincide with mineralized shear zone corridors that we are identifying and delineating on surface and at depth during our current mapping and drill campaign. We are at the point where at least three subparallel gold mineralized corridors are predictable for 500 m along strike through the A Zone (Figure 2), but the infill sampling, along with surficial mapping, previous drill results and the 2020 assays and oriented drill core measurements, is giving us confidence that these mineralized corridors extend for at least 1.4 km along strike.”

Table 1: Significant Assay Results from 2011 – 2014 and 2020 infill sampling

Hole ID From
(m)
To (m) Length
(m)
Year
assayed
Gold
g/t
Silver
g/t
Copper
%
Zinc
%
LJ11-001 126.50 127.00 0.50 2011 3.35 1.70 0.30
136.05 136.55 0.50 2011 1.41 3.20 0.09 0.59
138.40 138.90 0.50 2020
(new)
3.72 3.80 0.19 0.05
LBX14-016 51.50 53.00 1.50 2020
(new)
2.93 0.30 0.00 0.02
85.00 86.00 1.00 2014 0.14 9.10 0.12 1.52
93.86 95.00 1.14 2014 0.26 6.40 0.21 0.63
103.65 108.00 4.35 2014 0.30 1.46 0.05 0.52
Including 103.65 104.00 0.35 2014 0.58 14.20 0.34 4.64
120.00 121.00 1.00 2014 0.88 0.90 0.05 0.06
LBX14-017 41.00 43.00 2.00 2014 0.16 8.40 0.03 0.70
60.00 61.00 1.00 2014 0.50 8.70 0.11 1.44
117.50 124.00 6.50 2020

(new)

0.30 2.72 0.02 0.39
Including 122.00 124.00 2.00 2014 0.50 8.00 0.04 1.14
136.00 139.00 3.00 2014 0.17 1.57 0.05 0.56
LME14-030 77.00 81.20 4.20 2014 0.32 3.94 0.10 1.76
86.63 92.19 5.56 2014 0.56 3.11 0.09 1.38
105.52 107.00 1.48 2014 0.52 5.59 0.12 1.40
LME14-031 23.00 25.00 2.00 2014 0.49 0.80 0.02 0.28
34.00 36.00 2.00 2014 0.33 1.80 0.04 0.18
47.00 48.80 1.80 2014 27.80 13.10 0.16 1.21
84.00 85.00 1.00 2014 0.03 0.40 0.01 0.98

True width of mineralization of these intercepts is estimated to be >60% of drill hole intervals. 2011 to 2014 assays have been subject to Quality Assurance / Quality Control (QA/QC) measures, including the verification of assay data through the insertion of standards, duplicates and blanks.

Table 2: Collar position, orientation and depth of infill sampled 2011 – 2014 drill holes. Coordinates are presented in UTM NAD83 Zone 16N.

Hole ID Easting Northing Elevation Azimuth Dip Depth
(m)
News
release
LJ11-001 446127 5512535 327 120 -50 149.29 31/11/2011
LBX14-016 446492 5513054 320 126 -60 176 14/03/2014
LBX14-017 446443 5513059 320 130 -51 152 14/03/2014
LME14-030 445574 5512050 330 90 -50 107 27/02/2014
LME14-031 445591 5512014 330 99 -50 100 27/02/2014

INDUCED POLARIZATION SURVEY

LAURION is pleased to report that the 2020 Induced Polarization (“IP”) geophysical survey, first announced on March 17, 2020, is now complete over the A Zone (10 line km) and Sturgeon-Brenbar (15.7 line km) areas, including the production of all maps and sections and a 3D inversion model. Several large, NE-trending anomalous zones were identified, with chargeable and/or resistive zones extending to depth. Several of the new anomalies coincide with known gold mineralization in the A Zone. These results will be used to aid in targeting during the ongoing 2020 drill campaign.

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.

All core samples have been assayed by ALS Laboratories in Thunder Bay, Ontario. Infill samples are processed by aqua regia digestion (consistent with 2011 – 2014 assay sampling) and 2020 samples are processed by 4-acid digestion. Both are 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. LAURION employs an industry standard QA/QC program including insertion of blanks, duplicates and standards.  Samples are sawn by core saw on site (cut perpendicular to mineralization), with one-half of the core sent in secure bags to ALS Laboratories.

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. LAURION now has 181,125,977 outstanding shares of which approximately 59% 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 km2 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.

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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, 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.

Cision View original content: http://www.newswire.ca/en/releases/archive/June2020/11/c9192.html

LAURION Mineral Exploration Inc., Cynthia Le Sueur-Aquin – President and CEO, Tel: 1-705-788-9186, Fax: 1-705-805-9256, Website: http://www.LAURION .caCopyright CNW Group 2020

Canada Newswire
June 11, 2020 – 5:30 AM PDT
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