(TheNewswire)
TORONTO, ONTARIO - (June 19, 2024)– TheNewswire – Laurion Mineral ExplorationInc. (TSX.V: LME and OTCPINK: LMEFF) (“LAURION” or the“Corporation”) is pleased to provide an update on its 2024 exploration and drillingefforts at the Ishkõday Project, situated 220 km northeast of Thunder Bay,Ontario.
Exciting progress marks LAURION's completion of itsSpring 2024 diamond drill program on the Sturgeon River Mine,encompassing 4,289 metres of drilling activity. The results from theinitial five drill holes (LME24-041 to LME24-045) have been processedand reported, as detailed in the Corporation's press releases datedMay 1, 2024 and May 23, 2024.
Stated Cynthia Le Sueur–Aquin, President and CEO ofLAURION: “We are encouragedby what we perceive to be promising results from our Spring 2024 drillprogram on the Sturgeon River Mine area. The initial five drill holeshave provided significant insights into the mineralization of thishistoric site. Highlights of the latest drill holes, LME24-046 toLME24-048, underscore the potential of the area. ”
LME24-046 hasreturned noteworthy intersections, including:
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2.60 metres at 0.87 g/t Au from 637.00 to 640.60metres, with a higher-grade interval of 0.60 metres at 3.21 g/tAu.
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10.25 metres at 0.49 g/t Au from 721.75 to 732.0metres, including 6.65 metres at 0.70 g/t Au, and 4.10 metres at 0.98g/t Au.
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Additional intervals of 0.55 metres at 1.68 g/t Au and0.60 metres at 1.34 g/t Au.
LME24-047 hasdemonstrated encouraging gold grades with intersections suchas:
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0.50 metres at 5.84 g/t Au from 124.70 to 125.20metres.
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1.30 metres at 11.61 g/t Au from 505.30 to 506.50metres, including 0.50 metres at 52.30 g/t Au.
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Further notable intersections include 0.50 metres at25.90 g/t Au and 2.00 metres at 2.73 g/tAu.
LME24-048 hasalso yielded the following encouraging results:
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1.50 metres at 1.17 g/t Au from 365.50 to 367.00metres.
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Additional intervals of 0.55 metres at 1.70 g/t Au and1.50 metres at 1.17 g/t Au.
During this phase of the Spring 2024 drill program,LAURION strategically positioned drill holes LME24-046, LME24-047, andLME24-048 to enhance understanding of the stratigraphic boundariessurrounding the historic Sturgeon River Mine. LME24-046 to 48effectively probed the stratigraphy to the east and west, covering anextensive area spanning approximately 385 metres. The objective ofdrill hole LME24-046 was specifically oriented to target theunderground workings of the mine. This meticulous approach reflectsLAURION's commitment to adopting comprehensive exploration practices,aimed at maximizing insights into potential mineralization.
These results not only validate our explorationstrategy but also reinforce our confidence in the significant mineralpotential of the Sturgeon River Mine area. As we continue to analyze and interpret the data, we remain dedicated toadvancing our understanding of this promising project and creatinglong-term value for our stakeholders.
Assay Results: Highlights of theNortheastern Sturgeon River Mine Drill Holes LME24-046, LME24-047 andLME24-048
Hole ID | From (m) | To (m) | Core Length (m) | Au (g/t) |
LME24-046 | 45.20 | 46.20 | 1.00 | 0.73 |
LME24-046 | 116.00 | 116.60 | 0.60 | 1.34 |
LME24-046 | 156.05 | 156.55 | 0.50 | 0.57 |
LME24-046 | 197.80 | 198.75 | 0.95 | 1.09 |
LME24-046 | 254.25 | 257.40 | 3.15 | 0.40 |
including | 254.25 | 255.40 | 1.15 | 0.95 |
including | 254.25 | 254.80 | 0.55 | 1.68 |
LME24-046 | 425.90 | 426.40 | 0.50 | 0.92 |
LME24-046 | 602.40 | 603.20 | 0.80 | 0.53 |
LME24-046 | 638.00 | 640.60 | 2.60 | 0.87 |
including | 639.50 | 640.10 | 0.60 | 3.21 |
LME24-046 | 721.75 | 732.00 | 10.25 | 0.49 |
including | 721.75 | 728.40 | 6.65 | 0.70 |
including | 721.75 | 725.85 | 4.10 | 0.98 |
LME24-046 | 745.55 | 746.05 | 0.50 | 0.75 |
LME24-047 | 4.35 | 5.00 | 0.65 | 0.61 |
LME24-047 | 26.10 | 27.00 | 0.90 | 0.81 |
LME24-047 | 84.30 | 85.15 | 0.85 | 1.09 |
LME24-047 | 124.70 | 125.20 | 0.50 | 5.84 |
LME24-047 | 211.65 | 212.15 | 0.50 | 2.00 |
LME24-047 | 296.40 | 297.00 | 0.60 | 0.60 |
LME24-047 | 403.00 | 403.50 | 0.50 | 0.85 |
LME24-047 | 463.00 | 463.75 | 0.75 | 0.54 |
LME24-047 | 505.20 | 506.50 | 1.30 | 20.19 |
including | 505.20 | 505.70 | 0.50 | 52.30 |
LME24-047 | 519.50 | 520.00 | 0.50 | 25.90 |
LME24-047 | 560.00 | 560.70 | 0.70 | 1.05 |
LME24-047 | 617.50 | 627.55 | 10.05 | 0.46 |
including | 617.50 | 618.85 | 1.35 | 1.10 |
including | 624.00 | 625.70 | 1.70 | 1.32 |
LME24-047 | 663.90 | 665.55 | 1.65 | 0.62 |
including | 663.90 | 664.55 | 0.65 | 1.25 |
LME24-047 | 724.45 | 725.05 | 0.60 | 1.73 |
LME24-047 | 764.00 | 766.00 | 2.00 | 2.73 |
LME24-047 | 764.00 | 764.55 | 0.55 | 8.88 |
LME24-047 | 765.50 | 766.00 | 0.50 | 1.12 |
LME24-048 | 7.40 | 7.90 | 0.50 | 0.63 |
LME24-048 | 41.30 | 42.40 | 1.10 | 0.57 |
including | 41.90 | 42.40 | 0.50 | 1.08 |
LME24-048 | 112.80 | 113.35 | 0.55 | 1.70 |
LME24-048 | 306.00 | 306.65 | 0.65 | 0.71 |
LME24-048 | 339.40 | 340.15 | 0.75 | 0.46 |
LME24-048 | 365.50 | 367.00 | 1.50 | 1.17 |
A comprehensive prospecting program is in progress forthe zones west of the Sturgeon River Mine shaft and the Brenbar Mineareas. The objective is to expand and identify new prospective areasin close proximity to the Sturgeon River Mine Shaft, enhancing thepotential for future exploration and drilling.
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 beenobserved.
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.
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 has267,271,735 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 X: @LAURION_LME and Instagramlaurionmineral
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 projectparametres 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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