(TheNewswire)
Vancouver, British Columbia, June 18, 2024. -TheNewswire - Lexston Mining Corporation (the “Company” or “Lexston” ) (CSE: LEXT) (OTCQB: LEXTF) (Frankfurt: W5G) Lexston Mining Corporation (CSE: LEXT) (OTCQB: LEXTF) (the“ Company ” or “Lexston” ) ispleased to announce the engagement of Aurora Geosciences Ltd. Inpreparation for the 2024 field season. Crews are anticipated tomobilize in June 2024, to begin verifying historical results andground truthing favorable anomalism in high priority target areas onthe properties.
CEO Jag Bal stated, "This field program willinitially verify the historical uranium anomalism identified at theproperty which we intend to follow up with additional ground-basedgeophysics ahead of a future drilling program”. Mr. Bal continues,"This year's program will mark Lexston’s inaugural field seasonfocusing on the ground truthing uraniferous boulder trains identifiedat the property. Aurora Geosciences brings over 40 years of remotefield exploration expertise and is focused on delivering excellence innorthern exploration with the goal of providing mineraldiscovery".
About the Itza and 176Properties
Property Highlights:
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The Itza and 176 Projects (the “Properties”) are inthe Thelon Basin in the Kivalliq Region of Nunavut, occupying an areaof 11,350 hectares. The Properties represent a strong land positionin the Thelon Basin.
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xtensive historical data is available on the Propertiesto guide exploration planning.
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Historical high-grade uranium occurrences: including ahistorical pebble sample (#1708, Boulder SN-176) retrieved duringboulder prospecting returned 4,000 counts per second (cps) using ascintillometer and assayed 332,000 ppm U (39.15% U3O8) .
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Previous exploration programs were terminated withoutextensive drill testing.
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The portfolio that covers the spectrum from conceptualexploration targets to near-drill readytargets.
Priority Targets for follow up:
A) Coincident anomalism at the 176 Property areasurrounding priority target SN-176 associated with mapped reactivatedstructures, Uranium in soil, and EM-VLF anomalies.
B) Uraniferous boulder train targets at the ItzaProperty.
The combined Itza and 176 properties straddle themapped unconformity between the Thelon Fomation and the underlyingAmer Lake Metasediments. It contains numerous reactivated Faultsidentified during previous exploration, the intersection ofreactivated faults and unconformities is highly prospective foruranium deposits. Multiple coincident anomalies on the property: Magnetic Low, VLF Electromagnetic, Gravity Low, Radiometric, Uraniumin Soil and uriniferous boulder train anomalism require immediateground truthing and follow up.
Qualified Person: The technical information contained in this news release hasbeen reviewed by Luke van der Meer., P.Geo. Mr. van der Meer is aqualified person as defined by National Instrument 43-101.
1 Historical Data: This news release includes historical information that hasbeen reviewed by Lexston’s qualified person (“QP”). Lexston’sreview of the historical records and information reasonably confirmthe validity of the information presented in this news release;however, Lexston cannot directly verify the accuracy of the historicaldata, which includes (but not limited to) the procedures used forsample collection and analysis. Therefore, any conclusions orinterpretations that may arise from the respective data should beconsidered too speculative to suggest that additional exploration willresult in mineral resource delineation. Lexston encourages readers toexercise appropriate caution when evaluating results based onhistorical data.
2 Exploration Target(s): Exploration targets and/or Exploration zones and/orExploration areas are speculative and there is no certainty that anyfuture work or evaluation will lead to the definition of a mineralresource.
About Aurora Geosciences
Founded in 1981, Aurora Geosciences has its origins inNorthern Canada, established with a commitment to excellence innorthern exploration aimed at mineral discovery. The foundersenvisioned and implemented innovative exploration models andtechniques, adapting geophysical technology to withstand the harshnorthern elements. This approach was instrumental in several majorbase and precious metal discoveries in the Northwest Territories andNunavut.
Driven by the same passion for over 40 years, AuroraGeosciences' staff uphold the tradition of mineral exploration anddiscovery. Their operations have expanded beyond the NorthwestTerritories, Yukon, and Alaska to include numerous projects acrossNorth America. The team continues to excel in providing integratedgeoscience solutions, products, and exploration support for clients,maintaining a "can do" attitude. Home - Aurora Geosciences Ltd.
About Lexston MiningCorporation
The Company is a Canadian mineral exploration company,focused on the acquisition and development of mineral projects, withthe objective to enhance value to all its stakeholders. The Companyhas mineral exploration projects in British Columbia and Nunavut,Canada.
The Company (OTCQB: LEXTF) trades on the OTCQB VentureMarket for early stage and developing U.S. and internationalcompanies. Companies are current in their reporting and undergo anannual verification and management certification process. Investorscan find Real-Time quotes and market information for the company on www.otcmarkets.com .
On Behalf of the Board ofDirectors
LEXSTON MINING CORPORATION
Jagdip Bal
Chief Executive Officer
Telephone: (604) 928-8913
Email: info@lexston.ca
The Canadian Securities Exchange hasnot reviewed and does not accept responsibility for the adequacy oraccuracy of the content of this news release.
Forward-looking statements
This news release contains"forward-looking information" under applicable Canadiansecurities legislation. Such forward-looking information reflectsmanagement's current beliefs and are based on a number of estimatesand/or assumptions made by and information currently available to theCompany that, while considered reasonable, are subject to known andunknown risks, uncertainties, and other factors that may cause theactual results and future events to differ materially from thoseexpressed or implied by such forward-looking information. Readers arecautioned that such forward-looking information are neither promisesnor guarantees and are subject to known and unknown risks anduncertainties including, but not limited to, general business,economic, competitive, political and social uncertainties, uncertainand volatile equity and capital markets, lack of available capital,actual results of exploration activities, environmental risks, futureprices of base and other metals, operating risks, accidents, labourissues, objections by aboriginal people, delays in obtaininggovernmental approvals and permits, obtaining consents of aboriginalpeople and other risks in the mining industry.
These forward-looking statementsinclude but are not limited to timing of the exploration program,goals of the exploration program, obtaining financing, obtainingexploration permits, exploration of properties for minerals, liquidityof the common shares of the Company and future financings of theCompany. These statements reflect management's current estimates,beliefs, intentions, and expectations. They are not guarantees of future performance. TheCompany cautions that all forward-looking statements are inherentlyuncertain and that actual performance may be affected by many materialfactors, many of which are beyond the Company’s control. Suchfactors include, among other things: risks and uncertainties relatingto the acquisition of new properties, liquidity of the common sharesof the Company, financings, the market valuing the Company in a mannernot anticipated by management of the Company. Accordingly, actualand future events, conditions and results may differ materially fromthe estimates, beliefs, intentions and expectations expressed orimplied in the forward-looking information. Except as required underapplicable securities legislation, the Company does not undertake topublicly update or revise forward-looking information.
The Company is presently anexploration stage company. Exploration is highly speculative innature, involves many risks, requires substantial expenditures, andmay not result in the discovery of mineral deposits that can be minedprofitably. Furthermore, the Company currently has no reserves on itsproperties. Investment in the securities of the Company is veryrisky. As a result, there can be no assurance that suchforward-looking statements will prove to be accurate, and actualresults and future events could differ materially from thoseanticipated in such statements. .
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