LME Laurion Mineral Exploration Inc

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TORONTO, March 27, 2020 /CNW/ - LAURION Mineral Exploration Inc. (TSX.V: LME and OTCPINK: LMEFF) ("LAURION" or the "Corporation") is pleased to announce the appointment of Mr. David Lewis, P. Geo., as Exploration Manager for the Corporation's flagship property, the Ishkoday Project, located 220 km northeast of Thunder Bay, Ontario.

Mr. Lewis is a structural and exploration geologist with seventeen years' experience conducted on a variety of mineral deposit types, including both lode gold and vein-hosted deposits. He holds a B.Sc. in Geological Sciences from the University of Saskatchewan (Saskatoon, Saskatchewan), an M.Sc. in Geology from Laurentian University (Sudbury, Ontario) and is a registered practicing member with Professional Geoscientists Ontario. Mr. Lewis specializes in refining the structural and lithological controls on mineralization, having worked both at a regional and deposit scale with experience in Canada, the United States, Greenland and Mali. He has expertise in 2D and 3D modelling and his experience ranges from grassroots to brownfields exploration.

Mr. Lewis will design, coordinate and oversee all exploration activities in the key next step of advancement of the Ishkoday Project. A ground geophysical (IP) survey is currently underway, and the first stage of drilling is scheduled to commence mid-May with a 3,600m to 5,000m campaign. One of Mr. Lewis's early priorities will be to focus on the drilling at the A-Zone of the Loki trend, which extends over a 3,000m by 800m corridor. Here, historic (1980s and 1990s vintage) and more recent LAURION (2012 to 2014) drill holes have intersected significant widths and grades of gold mineralization. Some highlights include the following historical assay results, which span a 1+km mineralized trend (refer to Table 1 below).

Mr. David Lewis, Exploration Manager, stated: "I am very pleased to join LAURION and I look forward to the challenges ahead. I intend to evaluate the mineral potential of the Ishkoday Project by examining the structural setting of the gold-bearing veins, refining the structural controls on vein emplacement and testing high-potential bulk mineralized areas. I plan to use value-added approaches, such as oriented core, to extract as much information as possible, and I want to ensure consistency between surface and subsurface work. That way, our geological and economic models will be as robust as possible. The historic drilling suggests several mineralized, near-surface corridors."

Stated Cynthia Le Sueur – Aquin, President and CEO of the Corporation: "Mr. Lewis joins LAURION at the pivotal time. Mr. Lewis's talent and innovative approach is key to developing the big picture and mentoring the exploration team, with immediate focus on the accelerated drilling campaign."

"Our Board and management changes over the last two years underscore our commitment to achieving operational excellence and exploration success on the highly prospective mid-stage Ishkoday Project. We will draw on the excellent experience of Mr. Lewis, who will work in tight collaboration with our VP Exploration and highly talented Technical Advisory Management Committee ("TAMC"), to design and conduct exploration campaigns to demonstrate the gold and base metal potential of the Ishkoday Property."

Table 1: Historic polymetallic assay results from selected compiled drill holes in the A-Zone of the Ishkoday Project. Drill hole intercepts are compiled from historic drilling. True widths of mineralization are unknown at this time. Collar positions are estimated based on compilation and coordinates are in UTM NAD83 Zone 16N.

Readers are cautioned that the above drill hole data are historical in nature. A Qualified Person has not verified the data, since there is no other information (such as historic Quality Assurance and Quality Control measures) available apart from the historic drill logs and assays. In addition, the historic drill core cannot be re-sampled nor re-assayed since it no longer exists. LAURION believes that these historical drill holes provide a conceptual indication of the potential of mineral occurrences within the project and are a relevant guide for ongoing exploration and drilling.

The Corporation also announces that pursuant to its stock option plan, subject to TSX Venture Exchange ("TSX-V") approval, LAURION will grant incentive stock options to Mr. Lewis to acquire a total of 250,000 common shares of the Corporation, exercisable for a period of five years at an exercise price of $0.165, subject to vesting requirements.

Qualified Persons

Jean Lafleur, P. Geo. (PGO, OGQ) LAURION's VP Exploration and David Lewis, P. Geo. (PGO), LAURION's Exploration Manager, both Qualified Persons as defined by National Instrument 43-101, have drafted, reviewed and approved the technical content of this news release.

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 180,599,311 outstanding shares of which approximately 58% 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 significant upside potential. Ishkoday has a project-wide database (2008 to 2019) that includes 307 diamond drill holes totaling 48,879m, geological mapping, ground and airborne geophysics, and 21,800 individual samples with assays and geochemical analysis. 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.

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, management's objectives, strategies, beliefs and intentions. The forward-looking statements involve risks and uncertainties. Actual events could differ materially from those projected herein including as a result of a change in the trading price of the Common Shares. 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.

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SOURCE Laurion Mineral Exploration Inc.