/THIS NEWS RELEASE IS INTENDED FOR DISTRIBUTION IN
CANADA ONLY AND IS NOT INTENDED
FOR DISTRIBUTION TO UNITED STATES
NEWSWIRE SERVICES OR DISSEMINATION IN THE
UNITED STATES./
TORONTO, June 11, 2020 /CNW/ - Laurion Mineral
Exploration Inc. (TSX.V: LME and OTCPINK: LMEFF) ("LAURION" or the
"Corporation") is pleased to provide a progress report on
exploration at its 100% owned Ishkoday Project and contiguous
Brenbar earn-in option Project (the "Project"), located 220 km
northeast of Thunder Bay, Ontario,
near the town of Beardmore. The
first stage 2020 drill campaign has now completed 15 holes for a
combined 3,600 m of drilling. Assay
results for 11 holes remain outstanding. The drill has now moved
800 m southwest of the main A
Zone.
Infill assay sampling of five 2011 – 2014 LAURION drill holes
has identified several additional significant gold intersections.
These holes were drilled along the A Zone corridor and are 1.4 km
along trend (Figure 1). New assay values, along with
previously-announced results are presented in Table 1 and hole
location and orientation data are given in Table 2. Highlights
are:
- Hole LBX14-016: 1.5 m at 2.93 g/t
gold (new 2020 assay)
- Hole LJ11-001: 0.5 m at 3.72 g/t
gold, 3.8 g/t silver (new 2020 assay)
- Hole LME14-031: 1.8 m at 27.8 g/t
gold, 13.1 g/t silver, 1.21 % zinc (previously-reported 2014
assay)
Commented David Lewis,
Exploration Manager: "These updated assay results are significant
as they coincide with mineralized shear zone corridors that we are
identifying and delineating on surface and at depth during our
current mapping and drill campaign. We are at the point where at
least three subparallel gold mineralized corridors are predictable
for 500 m along strike through the A
Zone (Figure 2), but the infill sampling, along with surficial
mapping, previous drill results and the 2020 assays and oriented
drill core measurements, is giving us confidence that these
mineralized corridors extend for at least 1.4 km along strike."
Table 1: Significant Assay Results from 2011 – 2014 and 2020
infill sampling
Hole
ID
|
From
(m)
|
To
(m)
|
Length
(m)
|
Year
assayed
|
Gold
g/t
|
Silver
g/t
|
Copper
%
|
Zinc
%
|
LJ11-001
|
126.50
|
127.00
|
0.50
|
2011
|
3.35
|
1.70
|
-
|
0.30
|
|
136.05
|
136.55
|
0.50
|
2011
|
1.41
|
3.20
|
0.09
|
0.59
|
|
138.40
|
138.90
|
0.50
|
2020
(new)
|
3.72
|
3.80
|
0.19
|
0.05
|
|
|
|
|
|
|
|
|
|
LBX14-016
|
51.50
|
53.00
|
1.50
|
2020
(new)
|
2.93
|
0.30
|
0.00
|
0.02
|
|
85.00
|
86.00
|
1.00
|
2014
|
0.14
|
9.10
|
0.12
|
1.52
|
|
93.86
|
95.00
|
1.14
|
2014
|
0.26
|
6.40
|
0.21
|
0.63
|
|
103.65
|
108.00
|
4.35
|
2014
|
0.30
|
1.46
|
0.05
|
0.52
|
Including
|
103.65
|
104.00
|
0.35
|
2014
|
0.58
|
14.20
|
0.34
|
4.64
|
|
120.00
|
121.00
|
1.00
|
2014
|
0.88
|
0.90
|
0.05
|
0.06
|
|
|
|
|
|
|
|
|
|
LBX14-017
|
41.00
|
43.00
|
2.00
|
2014
|
0.16
|
8.40
|
0.03
|
0.70
|
|
60.00
|
61.00
|
1.00
|
2014
|
0.50
|
8.70
|
0.11
|
1.44
|
|
117.50
|
124.00
|
6.50
|
2020
(new)
|
0.30
|
2.72
|
0.02
|
0.39
|
Including
|
122.00
|
124.00
|
2.00
|
2014
|
0.50
|
8.00
|
0.04
|
1.14
|
|
136.00
|
139.00
|
3.00
|
2014
|
0.17
|
1.57
|
0.05
|
0.56
|
|
|
|
|
|
|
|
|
|
LME14-030
|
77.00
|
81.20
|
4.20
|
2014
|
0.32
|
3.94
|
0.10
|
1.76
|
|
86.63
|
92.19
|
5.56
|
2014
|
0.56
|
3.11
|
0.09
|
1.38
|
|
105.52
|
107.00
|
1.48
|
2014
|
0.52
|
5.59
|
0.12
|
1.40
|
|
|
|
|
|
|
|
|
|
LME14-031
|
23.00
|
25.00
|
2.00
|
2014
|
0.49
|
0.80
|
0.02
|
0.28
|
|
34.00
|
36.00
|
2.00
|
2014
|
0.33
|
1.80
|
0.04
|
0.18
|
|
47.00
|
48.80
|
1.80
|
2014
|
27.80
|
13.10
|
0.16
|
1.21
|
|
84.00
|
85.00
|
1.00
|
2014
|
0.03
|
0.40
|
0.01
|
0.98
|
True width of mineralization of these intercepts is estimated to
be >60% of drill hole intervals. 2011 to 2014 assays have been
subject to Quality Assurance / Quality Control (QA/QC) measures,
including the verification of assay data through the insertion of
standards, duplicates and blanks.
Table 2: Collar position, orientation and depth of infill
sampled 2011 – 2014 drill holes. Coordinates are presented in UTM
NAD83 Zone 16N.
Hole
ID
|
Easting
|
Northing
|
Elevation
|
Azimuth
|
Dip
|
Depth
(m)
|
News
release
|
LJ11-001
|
446127
|
5512535
|
327
|
120
|
-50
|
149.29
|
31/11/2011
|
LBX14-016
|
446492
|
5513054
|
320
|
126
|
-60
|
176
|
14/03/2014
|
LBX14-017
|
446443
|
5513059
|
320
|
130
|
-51
|
152
|
14/03/2014
|
LME14-030
|
445574
|
5512050
|
330
|
90
|
-50
|
107
|
27/02/2014
|
LME14-031
|
445591
|
5512014
|
330
|
99
|
-50
|
100
|
27/02/2014
|
INDUCED POLARIZATION SURVEY
LAURION is pleased to report that the 2020 Induced Polarization
("IP") geophysical survey, first announced on March 17, 2020, is now complete over the A Zone
(10 line km) and Sturgeon-Brenbar (15.7 line km) areas, including
the production of all maps and sections and a 3D inversion model.
Several large, NE-trending anomalous zones were identified, with
chargeable and/or resistive zones extending to depth. Several of
the new anomalies coincide with known gold mineralization in the A
Zone. These results will be used to aid in targeting during the
ongoing 2020 drill campaign.
Qualified Person
Mr. David Lewis, P. Geo. (PGO),
LAURION 's Exploration Manager, is a Qualified Person as defined by
National Instrument 43-101 and has reviewed and approved the
content of this news release.
All core samples have been assayed by ALS Laboratories in
Thunder Bay, Ontario. Infill
samples are processed by aqua regia digestion (consistent with 2011
– 2014 assay sampling) and 2020 samples are processed by 4-acid
digestion. Both are analyzed by fire assay on 50 g pulps and
ICP-AES (Inductively-Coupled-Plasma – Atomic-Element-Spectroscopy).
Over limit analyses are reprocessed with gravimetric finish.
LAURION employs an industry standard QA/QC program including
insertion of blanks, duplicates and standards. Samples are
sawn by core saw on site (cut perpendicular to mineralization),
with one-half of the core sent in secure bags to ALS
Laboratories.
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 181,125,977 outstanding
shares of which approximately 59% 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 a significant upside potential. 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. The recently-acquired Brenbar Property, which is
contiguous with the Ishkoday Property, hosts the historic Brenbar
Mine and LAURION believes that the mineralization to be a direct
extension of mineralization from the Ishkoday Property.
Follow us on Twitter: @LAURION_LME
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, and management's objectives, strategies, beliefs and
intentions. The forward-looking statements involve risks and
uncertainties. Actual events and future results, performance or
achievements expressed or implied by such forward-looking
statements could differ materially from those projected herein
including as a result of a change in the trading price of the
common shares of LAURION, the interpretation and actual results of
current exploration activities, changes in project parameters as
plans continue to be refined, future prices of gold and/or other
metals, possible variations in grade or recovery rates, failure of
equipment or processes to operate as anticipated, the failure of
contracted parties to perform, labor disputes and other risks of
the mining industry, delays in obtaining governmental approvals or
financing or in the completion of exploration, as well as those
factors disclosed in the Corporation's publicly filed documents.
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.
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICE
PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX
VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR
ACCURACY OF THE CONTENT OF THIS NEWS RELEASE.
SOURCE Laurion Mineral Exploration Inc.