(TheNewswire)
TORONTO, ONTARIO - (June 4, 2024) – TheNewswire – Laurion Mineral Exploration Inc. (TSX.V:LME and OTCPINK: LMEFF) (“LAURION” or the“Corporation”) is pleased to provide anupdate of its 2024 exploration and drilling program at theCorporation’s Ishkõday Project, which islocated 220 km northeast of Thunder Bay, Ontario.
LAURION has completed its Spring 2024 diamond drillprogram, achieving 4,289 metres of drilling. The first five drillholes (LME24-041 to LME24-045) have been received and reported (seethe Corporation’s press releases dated May 1, 2024 and May 23,2024), with final assays for drill holes LME24-046 to LME24-048 stillpending.
Favorable early spring conditions at Ishkõday enabledLAURION to launch its Summer 2024 field exploration program at theZiibi Zone in mid-May. The Ziibi Zone is located1.8 km on the north side of the Namewaminikan river east of Highway801, along strike of the Sturgeon Zone. This area was drilled byCarling Gold between 1975 and 1988, during which several drill holesintersected quartz v eins and shears, yielding gold values up to 11.00 g/t andcopper values up to 3.04%. In the Corporation’s view, these resultsunderscore the high prospectivity of the Ziibi Zone. A program ofpower washing and channel sampling, followed by detailed mapping, isplanned for this zone.
Next, the field exploration team will move to the TwinFalls Project, situated within the Pifher, Irwin, and Sandra Townshipslocated 6.4 km to the northwest of the Ishkõday Project. This area islocated four (4) kilometres to the south of the Paint Lake Fault, asignificant regional break, while the Musca Lake Fault runs throughthe southern boundary of the claim group. Gold occurs in two types ofmineralization: quartz veins (stockworks) and pyritic horizons withinfelsic tuff and quartz feldspar porphyry. Power stripping in 1998revealed a 60 m wide zone comprising highly sheared and sericitizedquartz-eye feldspar porphyry or felsic tuff. This zone strikes E-W at102 degrees and dips steeply to the south. (The Beardmore-GeraldtonEconomic Geologist - August 7, 1985 and October 24, 1985 - B. Nelson -MDI42E13NW00004.)
KBM Resources Group, headquartered in Thunder Bay,recently conducted an aerial acquisition of high-resolution imageryand LiDAR over the Twin Falls project. Covering 10km², this airborneendeavor will harness LiDAR technology to identify surficial featuressuch as historic pits and/or trenches while also delineating possiblegeological structures, which should greatly facilitate LAURION in itsSummer field exploration program, the data for which is expected to beavailable shortly.
A comprehensive prospecting program is planned for thezones west of the Sturgeon River Mine shaft and the Brenbar Mine area.The objective is to expand and identify new prospective areas in closeproximity to the Sturgeon River Mine Shaft, enhancing the potentialfor future exploration and drilling.
Qualified Person
The technical contents of this release were reviewedand approved by Jean-Philippe Paiement, PGeo, MSc, a consultant toLAURION, and a qualified person as defined by National Instrument43-101 – Standards of Disclosure for Mineral Projects.
AboutLAURION
The Corporation is a junior mineral exploration anddevelopment company listed on the TSX Venture Exchange under thesymbol LME and on the OTC under the symbol LMEFF. LAURION now has267,071,735 outstanding shares of which approximately 72% are ownedand controlled by Insiders who are eligible investors under the“Friends and Family” categories.
LAURION's emphasis is on the exploration anddevelopment of its flagship project, the 100% owned mid-stage 57.43km 2 Ishkõday Project, and its gold-richpolymetallic mineralization.
FOR FURTHER INFORMATION, CONTACT:
LAURION Mineral ExplorationInc.
Cynthia Le Sueur-Aquin – President and CEO
Tel: 1-705-788-9186
Fax: 1-705-805-9256
Douglas Vass - Investor Relations Consultant
Email: info@laurion.ca
Website: http://www.LAURION.ca
Caution Regarding Forward-LookingInformation
This press release containsforward-looking statements, which reflect the Corporation’s currentexpectations regarding future events including with respect toLAURION's business, operations and condition, management's objectives,strategies, beliefs and intentions, the Corporation’s ability toadvance the Ishkõday Project, the nature, focus, timing and potentialresults of the Corporation’s exploration, drilling and prospectingactivities in 2024 and beyond, including its planned activities forthe Ishkõday Project for the remainder of 2024. The forward-lookingstatements involve risks and uncertainties. Actual events and futureresults, performance or achievements expressed or implied by suchforward-looking statements could differ materially from thoseprojected herein including as a result of a change in the tradingprice of the common shares of LAURION, the interpretation and actualresults of current exploration activities, changes in projectparameters as plans continue to be refined, future prices of goldand/or other metals, possible variations in grade or recovery rates,failure of equipment or processes to operate as anticipated, thefailure of contracted parties to perform, labor disputes and otherrisks of the mining industry, delays in obtaining governmentalapprovals or financing or in the completion of exploration, as well asthose factors disclosed in the Corporation’s publicly fileddocuments. Investors should consult the Corporation’s ongoingquarterly and annual filings, as well as any other additionaldocumentation comprising the Corporation’s public disclosure record,for additional information on risks and uncertainties relating tothese forward-looking statements. The reader is cautioned not to relyon these forward-looking statements. Subject to applicable law, theCorporation disclaims any obligation to update these forward-lookingstatements.
NEITHER THE TSX VENTURE EXCHANGE NORITS REGULATION SERVICE PROVIDER (AS THAT TERM IS DEFINED IN THEPOLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THEADEQUACY OR ACCURACY OF THE CONTENT OF THIS NEWS RELEASE.
Copyright (c) 2024 TheNewswire - All rights reserved.