- Mineralized zone has now been extended to 550 m along strike and 420
m across strike, with 2 km strike length between A-Zone to
CRK Zone
- Mineralized NE- and N-trending zones at CRK can be traced
from surface to a maximum depth of 240
m with mineralization appearing to plunge moderately SW and
remaining open at depth
- The majority of the CRK Zone remains open below 190 m depth
/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, Dec. 15, 2020 /CNW/ - LAURION Mineral
Exploration Inc. (TSX.V: LME) and (OTCPINK: LMEFF)
("LAURION" or the "Corporation") is pleased to report
further assay results for four (4) drill holes of the ten (10)
hole, 2,962 m Phase 2 drill campaign,
completed on the CRK Zone, Ishkoday Project. Assay results for the
first four (4) holes were previously reported in the December 1 2020 news release and are pending on
the remaining two (2) holes. The Ishkoday Project is located
approximately 220 km northeast of Thunder
Bay, Ontario, near the town of Beardmore in the Onaman-Tashota gold belt.
Drill holes LME20-026 to LME20-029 were drilled along the main
NE-trending trenched CRK Zone at approximately 100 m spacing as shown in Figure 1.
Drilling Highlights:
- LME20-026
-
- 2.50 m grading 19.94 g/t gold and
2.03 g/t silver, including 0.50 m
grading 98.5 g/t gold and 8.3 g/t silver
- 1.00 m grading 5.41 g/t gold
- 7.60 m grading 0.46 g/t gold,
1.22 % zinc, including 1.00 m grading
2.87 g/t gold and 5.54 % zinc
- LME20-028
-
- 0.50 m grading 5.61 g/t gold,
10.5 g/t silver
- LME20-029
-
- 1.12 m grading 1.56 g/t gold,
3.98 % zinc
David Lewis, P.Geo., LAURION
Exploration Manager, commented: "Significant widths and grade of
surficial gold and zinc mineralization is present at the CRK Zone
and these four drill holes represent systematic testing of the CRK
Zone mineralization to depth. Not only have we been able to extend
the main sheared mineralized trend 135
m to the southwest, but we have been able to trace it
310 m between holes at depth.
Furthermore, we are seeing a change in mineralization at depth to
the southwest, with wider intervals and higher grades, where it
remains open."
Significant assay data is presented in Table 1 and drill hole
position and orientation data is presented in Table 2. A plan map
of mineralization and drill sections are presented in Figure 1.
Table 1: Significant assay results, LME20-026 to LME20-029
Hole
ID
|
From
(m)
|
To
(m)
|
Length
(m)
|
Gold
(g/t)
|
Silver
(g/t)
|
Copper
(wt%)
|
Zinc
(wt%)
|
LME20-026
|
13.50
|
14.50
|
1.00
|
5.41
|
2.35
|
0.01
|
0.01
|
|
79.50
|
82.00
|
2.50
|
1.08
|
2.98
|
0.08
|
2.86
|
|
85.00
|
102.50
|
17.50
|
0.10
|
3.26
|
0.11
|
0.37
|
|
132.40
|
140.00
|
7.60
|
0.46
|
2.73
|
0.09
|
1.23
|
|
197.00
|
197.50
|
0.50
|
0.46
|
0.90
|
0.00
|
0.03
|
|
232.00
|
234.27
|
2.27
|
0.04
|
1.06
|
0.01
|
1.56
|
|
247.00
|
249.50
|
2.50
|
19.94
|
2.03
|
0.00
|
0.01
|
Including
|
247.58
|
248.08
|
0.50
|
98.50
|
8.30
|
0.00
|
0.01
|
|
262.50
|
265.00
|
2.50
|
0.06
|
2.26
|
0.12
|
0.15
|
|
286.50
|
287.70
|
1.20
|
0.37
|
0.25
|
0.01
|
0.02
|
|
298.50
|
299.00
|
0.50
|
0.25
|
0.90
|
0.01
|
0.02
|
LME20-027
|
65.80
|
66.30
|
0.50
|
1.26
|
0.90
|
0.01
|
0.01
|
|
96.20
|
100.50
|
4.30
|
0.17
|
0.99
|
0.02
|
0.08
|
|
141.00
|
152.50
|
11.50
|
0.10
|
1.77
|
0.05
|
0.62
|
|
170.00
|
171.50
|
1.50
|
0.33
|
0.58
|
0.00
|
0.02
|
|
219.92
|
222.50
|
2.58
|
0.17
|
4.25
|
0.01
|
0.02
|
|
295.00
|
297.50
|
2.50
|
0.65
|
0.88
|
0.02
|
0.02
|
LME20-028
|
17.90
|
18.40
|
0.50
|
5.61
|
10.50
|
0.05
|
0.59
|
|
38.00
|
40.00
|
2.00
|
0.43
|
6.48
|
0.17
|
2.69
|
|
45.00
|
45.50
|
0.50
|
0.49
|
3.10
|
0.03
|
1.22
|
|
148.00
|
151.00
|
3.00
|
0.32
|
2.15
|
0.04
|
0.12
|
|
182.50
|
184.00
|
1.50
|
0.25
|
0.55
|
0.00
|
0.03
|
|
240.95
|
250.15
|
9.20
|
0.11
|
1.04
|
0.03
|
0.23
|
|
344.50
|
345.00
|
0.50
|
0.32
|
1.80
|
0.12
|
1.44
|
|
354.00
|
355.00
|
1.00
|
0.03
|
3.50
|
0.10
|
1.14
|
LME20-029
|
56.50
|
61.00
|
4.50
|
0.28
|
0.25
|
0.01
|
0.01
|
|
97.00
|
101.40
|
4.40
|
0.74
|
3.17
|
0.10
|
1.00
|
|
110.00
|
118.00
|
8.00
|
0.02
|
0.40
|
0.01
|
0.28
|
|
139.00
|
140.50
|
1.50
|
0.31
|
6.00
|
0.04
|
0.13
|
|
155.15
|
156.27
|
1.12
|
1.56
|
4.90
|
0.10
|
3.98
|
|
198.50
|
201.00
|
2.50
|
0.16
|
1.62
|
0.05
|
0.48
|
|
212.00
|
215.00
|
3.00
|
0.15
|
7.32
|
0.32
|
0.19
|
|
227.00
|
228.50
|
1.50
|
0.88
|
4.30
|
0.02
|
0.52
|
|
258.50
|
259.50
|
1.00
|
1.11
|
0.60
|
0.00
|
0.01
|
|
287.00
|
291.00
|
4.00
|
0.19
|
0.51
|
0.00
|
0.02
|
|
323.00
|
324.00
|
1.00
|
0.48
|
0.50
|
0.00
|
0.01
|
Note: Mineralization is subvertical and the true width of
mineralization is estimated at >60% of the drill hole
interval.
Table 2: Collar position, orientation and depth of diamond drill
holes
Hole ID
|
Easting
|
Northing
|
Elevation
(m)
|
Depth (m)
|
Azimuth
(°)
|
Dip (°)
|
LME20-026
|
445662
|
5511940
|
331
|
311
|
290
|
-50
|
LME20-027
|
445645
|
5511849
|
327
|
323
|
290
|
-50
|
LME20-028
|
445806
|
5511981
|
326
|
419
|
290
|
-45
|
LME20-029
|
445849
|
5512090
|
328
|
374
|
290
|
-50
|
Coordinates are presented in UTM NAD83 Zone 16N.
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. Samples are
processed by 4-acid digestion and 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.
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. The Corporation currently has 198,718,522
outstanding shares, of which approximately 71% of LAURION's issued
and outstanding shares 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.
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.