(TheNewswire)
TORONTO, ONTARIO - (May 1, 2024) – TheNewswire – Laurion Mineral Exploration Inc. (TSX.V:LME and OTCPINK: LMEFF) (“LAURION” or the“Corporation”) is pleased to announce thatit has successfully completed the first three drill holes of its 2024diamond drilling program, being drill holes LME24-041, LME24-042, and LME24-043 at the Ishkõday Project,for which assays are now available.
The aforementioned drill holes were strategically sited458 metres northeast of the Sturgeon River Mine Shaft, and constitutedthe inaugural phase of drilling aimed at investigating the SturgeonRiver Mine structures in an east-to-west orientation. Employing avertical fan pattern, LAURION’s primary aim was to intersect thestacked Sturgeon River mineralized system, aligning with theCorporation’s commitment to rigorous exploration practices.
The three drill holes were successful in confirming thepresence of the seven known mineralized structures, extendingnortheast of the historical Sturgeon River Mine. The intercepts rangein length (along core) from 0.5 m to 7.65 m, with grades up to 4.23g/t Au. In addition, this drilling, in combination with drillingcompleted in 2023 (drill holes LME23,-033, LME23-034, LME23-035 andLME23-036), also identified new intermediate structures as part of thestacked mineralized zones. Further geological modelling will berequired to better understand how these new mineralized zonesinterplay with the existing model.
Highlights from these drill holes are asfollows:
LME24-041
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0.75 m @2.74 g/t Au from 63.00 m to 63.75 m;and,
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2.95 m @0.70 g/t Au from 295.85 m to 298.80m.
LME24-042
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5.30 m @0.71 g/t Au from 3 95.85 mto 401.15 m, including 1.50 m @2.07 g/t Au 398.30 m to 399.80m;
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0.50 m @7.99 g/t Au from 480.55 m to 481.05 m;
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1.00m @1.39 g/t Au from 498.90 m to 499.90 m;
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1.20m @2.16 g/t Au from 510.50 m to 511.70 m;
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4.35 m @1.43 g/t Au from 529.20m to 533.55m; including0.65 m @7.8 g/t Au from 529.20 m to 529.85 m;
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2.45 m @2.03 g/t Au from 660.75 m to663.20 m: including 0.85 m @5.66 g/t Au from 660.75 m to 661.60m and
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4.00m @ 0.42 g/t Au from 745.5 m to 749.50 m: including0.50 m @2.96 g/t Au from 749.00 m to 749.50 m.
LME24-043
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7.00 m @ 2.67 g/t Au from162.00 m to 169.00 m; including 2.35 m @ 5.73 g/t Au from163.30 m to 165.65 m;
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0.50 m @ 4.23g/t Au from 258.90 m to 259.40 m;
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0.60 m @ 2.80g/t Au from 316.50 m to 317.10 m; and
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0.75 m @ 2.25g/t Au 393.25 m to 394.00 m.
Building upon the successes of the 2023 drill program,particularly within the Sturgeon River Mine area, LAURION'sexploration endeavors have shown promise, aligning with thecharacteristics commonly observed in orogenic gold deposits. TheSturgeon River mineralized system, characterized by the presence ofseven distinct quartz veins and mineralized shear zones, exhibitedtrue widths ranging from 0.5 metres to 7.95 metres and grades rangingfrom 0.1 g/t Au to 7.78 g/t Au ( as detailed in press releases dated January 5, January 12, andFebruary 2, 2024 ). These notable findings notonly validate the geological model but also offer valuable insightsinto potential expansion opportunities both north and south of theSturgeon River Mine.
This significant milestone marks the commencement ofLAURION's exploration efforts aimed at further delineating the mineralpotential of the Ishkõday Project, situated in the prolificBeardmore-Geraldton Greenstone Belt of Northern Ontario.
The initial drilling phase, executed with precision andefficiency, underscores LAURION's commitment to advancing itsexploration objectives while maintaining the highest standards ofoperational excellence and environmental stewardship .
Assay Results: Highlights of theNortheastern Sturgeon River Mine Drill Holes LME24-041, LME24-042, andLME24-043
Hole ID | From (m) | To (m) | Core Length (m) | Au (g/t) |
LME24-041 | 63.00 | 63.75 | 0.75 | 2.74 |
LME24-041 | 154.00 | 155.50 | 1.50 | 0.451 |
LME24-041 | 258.80 | 259.40 | 0.60 | 0.753 |
LME24-041 | 295.85 | 298.80 | 2.95 | 0.701 |
Including | 296.35 | 297.35 | 1.00 | 1.467 |
LME24-042 | 33.75 | 34.25 | 0.50 | 0.625 |
LME24-042 | 106.05 | 107.00 | 0.95 | 0.392 |
LME24-042 | 160.65 | 161.20 | 0.55 | 0.758 |
LME24-042 | 197.60 | 198.15 | 0.55 | 0.549 |
LME24-042 | 206.75 | 208.20 | 1.45 | 0.872 |
Including | 207.75 | 208.20 | 0.45 | 2.060 |
LME24-042 | 363.45 | 364.00 | 0.55 | 0.523 |
LME24-042 | 395.85 | 401.15 | 5.30 | 0.709 |
Including | 398.30 | 399.80 | 1.50 | 2.070 |
LME24-042 | 422.85 | 430.50 | 7.65 | 0.128 |
LME24-042 | 480.55 | 481.05 | 0.50 | 7.990 |
LME24-042 | 485.00 | 485.60 | 0.60 | 0.382 |
LME24-042 | 498.90 | 499.90 | 1.00 | 1.385 |
LME24-042 | 510.50 | 511.70 | 1.20 | 2.163 |
LME24-042 | 528.50 | 530.50 | 2.00 | 2.550 |
Including | 529.20 | 529.85 | 0.65 | 7.840 |
LME24-042 | 532.50 | 533.55 | 1.05 | 1.073 |
Including | 532.50 | 533.05 | 0.55 | 1.865 |
LME24-042 | 576.20 | 577.35 | 1.15 | 0.352 |
Including | 576.85 | 577.35 | 0.50 | 0.622 |
LME24-042 | 596.00 | 596.60 | 0.60 | 0.404 |
LME24-042 | 650.50 | 651.00 | 0.50 | 0.444 |
LME24-042 | 660.75 | 663.20 | 2.45 | 2.032 |
Including | 660.75 | 661.60 | 0.85 | 5.660 |
LME24-042 | 745.50 | 746.00 | 0.50 | 0.361 |
LME24-042 | 749.00 | 749.50 | 0.50 | 2.960 |
LME24-042 | 762.00 | 762.50 | 0.50 | 0.626 |
LME24-042 | 764.00 | 764.75 | 0.75 | 0.311 |
LME24-043 | 162.00 | 169.00 | 7.00 | 2.667 |
Including | 163.30 | 168.40 | 5.10 | 3.569 |
Including | 163.30 | 165.65 | 2.35 | 5.725 |
LME24-043 | 181.95 | 184.50 | 2.55 | 0.128 |
LME24-043 | 242.55 | 243.60 | 1.05 | 0.690 |
LME24-043 | 243.05 | 243.60 | 0.55 | 1.025 |
LME24-043 | 258.90 | 259.40 | 0.50 | 4.230 |
LME24-043 | 272.70 | 274.60 | 1.90 | 0.424 |
Including | 273.70 | 274.60 | 0.90 | 0.564 |
LME24-043 | 293.80 | 294.45 | 0.65 | 0.474 |
LME24-043 | 316.50 | 317.10 | 0.60 | 2.800 |
LME24-043 | 335.80 | 336.30 | 0.50 | 0.294 |
LME24-043 | 340.50 | 341.40 | 0.90 | 0.768 |
LME24-043 | 393.25 | 394.00 | 0.75 | 2.250 |
LME24-043 | 401.00 | 404.00 | 3.00 | 0.300 |
Including | 401.00 | 401.80 | 0.80 | 0.832 |
LME24-043 | 411.00 | 413.00 | 2.00 | 0.444 |
Including | 412.00 | 413.00 | 1.00 | 0.684 |
LME24-043 | 439.00 | 443.10 | 4.10 | 0.126 |
LME24-043 | 485.30 | 486.30 | 1.00 | 0.631 |
LME24-043 | 485.30 | 485.80 | 0.50 | 0.985 |
Coordinates for Drill Holes LME24-041, LME24-042, andLME24-043
Hole ID | Azimuth | Dip | Planned (m) | Actual (m) |
LME24-041 | 280 | -45 | 300 | 324 |
LME24-043 | 280 | -80 | 500 | 492 |
LME24-042 | 280 | -65 | 800 | 795 |
Sampling and QA/QC Protocols
All core was transported and stored inside the corefacility located in Beardmore.
LAURION employs an industry standard system of externalstandards, blanks and duplicates for all of its sampling, in additionto the QA/QC protocol employed by the laboratory.
After logging, core samples were identified and thencut in half along core axis in the same building, and then zip tiedindividually in plastic sample bags with a bar code. Approximatelyfive or six of these individual bags were then stacked into a“rice” white material bag and stored on a skid for final shipmentto the laboratory.
All core samples were shipped to the ALS facility inThunder Bay, which were then prepared by ALS Global Geochemistry inThunder Bay and analyzed by ALS Global Analytical Lab in NorthVancouver, British Columbia. Samples are processed by 4-aciddigestion and analyzed by fire assay on 50 g pulps and ICP-AES(Inductively-Coupled-Plasma – Atomic-Element-Spectroscopy). Overlimit analyses are reprocessed with gravimetric finish. A total of 5%blanks and 5% standard are inserted randomly within all samples. 5% ofthe best assay result pulps were sent for re-assays. A total of 8.7%blanks and 9.5% standard were randomly inserted during the pXRFanalyse of the soil sampling. 2.8% we re-analyzed. All QAQC wereverified, and no contamination or bias have been observed.
The remaining half of the core, as well as theunsampled core, were stacked on a skid outside in Beardmore and thentransferred to the Sturgeon River Mine site core farm for finalstorage.
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
Follow us on Twitter: @LAURION_LME andInstagram laurionmineral
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, and the nature, focus, timing and potential results of theCorporation’s current diamond drilling program and futureexploration efforts, including its planned activities for theIshkõday Project in 2024.The forward-looking statements involve risks and uncertainties. Actualevents and future results, performance or achievements expressed orimplied by such forward-looking statements could differ materiallyfrom those projected herein including as a result of a change in thetrading price of the common shares of LAURION, the interpretation andactual results 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.
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