TORONTO, Aug. 24, 2021 /CNW/ - Laurion Mineral
Exploration Inc. (TSXV: LME) (OTCPINK: LMEFF) ("LAURION" or
the "Corporation") is pleased to announce the results
of the 2021 channel sampling program on A-Zone and the McLeod areas
on the Ishkoday Property, located 220 km northeast of Thunder Bay.
Highlights:
- Stripping of the northeast portion of the A-Zone, exposed
surface mineralization that correlates with a high-grade historic
diamond drill hole intercept. Stripping on the A-Zone revealed a
series of sub-parallel horizons with folded semi-massive lenses,
hosting up to 45% sulphides (See Figure 4).
- A newly discovered polymetallic vein, the Pond, was located
southeast and sub-parallel to the McLeod quartz vein. This new
mineralized area hosts gold, silver, copper, lead and zinc over a
strike length of 130m and a width up
to 2.7m (See Figure 5 and
6).
- The current assay results, combined with new geological
understanding, confirms the presence of early volcanogenic
mineralization (A-Zone type) that is, in turn, overprinted by a
later orogenic veining event. Both event host Au mineralization and
are polymetallic in nature, due to the remobilization of the
primary sulphides.
A-Zone Summary:
As part of the 2021 summer exploration program on Ishkoday, the
northeast extension of the A-Zone was stripped, revealing semi
massive sulphide lenses. A total of five (5) subparallel
mineralized horizons were discovered, all striking to the
northeast. These horizons are converging toward what have been
interpreted as a fold hinge, with a reconcentration of lens-shaped
sulphide. These sulphide lenses consist of brecciated quartz within
a sulphide matrix comprised of pyrite, chalcopyrite, sphalerite,
and galena (see Figure 1) and are believed to be part of the
volcanogenic mineralization at the Ishkoday Property. A total of 82
channels were sampled across the newly discovered A-Zone extension
and 255 samples were taken on all the trenches (see key assays
result in Table 1).
Table 1: Selected key results from channel sampling on the
A-Zone.
Channel
Line
|
From
|
To
|
Length
|
Au
g/t
|
Ag
g/t
|
Cu
%
|
Pb
%
|
Zn
%
|
AZ-L13
|
0.00
|
4.84
|
4.84
|
2.70
|
41.98
|
0.31
|
0.90
|
6.81
|
including
|
0.72
|
2.27
|
1.55
|
4.88
|
87.34
|
0.66
|
1.51
|
11.69
|
AZ-L14
|
7.93
|
10.32
|
2.39
|
1.82
|
18.59
|
0.30
|
0.14
|
2.01
|
AZ-L11
|
0.00
|
2.38
|
2.38
|
1.03
|
12.84
|
0.15
|
0.03
|
1.82
|
AZ-L30
|
0.53
|
3.77
|
3.24
|
1.21
|
1.83
|
0.01
|
0.01
|
0.69
|
AZ-L10
|
0.00
|
1.35
|
1.35
|
0.67
|
38.31
|
0.19
|
0.03
|
4.36
|
McLeod Zone Summary:
The main focus of the stripping at McLeod was to expose vein
hosted mineralization since historical stripping on the McLeod had
revealed a metre-wide quartz vein over 130m in length. Laurion's stripping effort
revealed a series of sub-parallel quartz-sulphide veins, striking
to the southwest with a steep dip to the northwest. These
orientations are comparable to the ones observed at the A-Zone.
Sampling focus was put on the 2 main veins: 1) the McLeod quartz
vein and 2) the newly discovered polymetallic vein dubbed the Pond
(see Figure 2).
The McLeod quartz vein contains low pyrite (<2%), with
sericite and chlorite alteration. A section of the vein is cut by a
regional shear zone and presents a brecciated texture with strong
epidote and chlorite alteration. The sheared McLeod quartz vein was
power washed for approximately 7 m
and four samples were collected. Highlights of sampling on
the McLeod quartz vein is shown in Table 2.
Table 2: Results from Channel Sampling on the McLeod
Quartz Vein.
Sample
#
|
Length
|
Au
g/t
|
Ag
g/t
|
2060
|
0.45
|
23.60
|
19.50
|
2061
|
0.68
|
0.96
|
5.80
|
2062
|
0.89
|
28.90
|
16.90
|
2063
|
0.40
|
0.88
|
3.20
|
The Pond is a polymetallic vein composed of brecciated quartz in
a sulphide-chlorite matrix and is 0.30m to 1.3m wide.
Mineralization of the wall-rock has also been identified at the
vein selvedges. The mineralization contains up to 75% sulphides
comprised mainly of pyrite, sphalerite and specks of chalcopyrite
and galena (see Figure 3). The Pond mineralization appears
to have a strike length of 750 m and
is interpreted to represent the continuity of in the "V" Veins
exposed in a cross-trench of the CRK Zone located further west of
the McLeod Zone. Mineralization at the Pond zone is similar to what
has been observed on the A-Zone, which comprises a succession of
sub-parallel sulphide rich lenses composed of a quartz breccia with
a sulphide-rich matrix (see key results in Table 3).
The LiDAR survey interpretation revealed historical trenches
along the whole of the McLeod zone strike length, which were
re-exposed and sampled. These results are pending. Furthermore, the
LiDAR information and historic drill hole on the A-Zone and the
McLeod, leads Laurion to believe that the sulphide-rich
mineralization could extend up to 1,600m in strike length. In-fill diamond drilling
between the A-Zone and the McLeod zone is currently in
progress.
Table 3: Results from the Polymetallic Pond Zone Located on
McLeod.
Channel
Line
|
From
|
To
|
Length
|
Au
g/t
|
Ag
g/t
|
Cu
%
|
Pb
%
|
Zn
%
|
TP-L12
|
0.00
|
0.37
|
0.37
|
12.80
|
142.00
|
0.44
|
0.19
|
2.82
|
TP-L04
|
0.00
|
1.42
|
1.42
|
9.66
|
40.25
|
0.05
|
0.32
|
0.27
|
With
|
0.00
|
0.47
|
0.47
|
16.30
|
55.10
|
0.06
|
0.15
|
0.27
|
TP-L03
|
0.00
|
1.96
|
1.96
|
4.45
|
25.64
|
0.08
|
0.27
|
0.35
|
TP-L06
|
0.00
|
1.72
|
1.72
|
2.56
|
35.79
|
0.08
|
0.68
|
1.93
|
With
|
0.00
|
0.46
|
0.46
|
7.93
|
116.00
|
0.25
|
2.49
|
6.46
|
TP-L14
|
0.00
|
1.75
|
1.75
|
1.98
|
51.77
|
0.12
|
0.15
|
2.87
|
Qualified Person
The technical information in this news release has been prepared
in accordance with Canadian regulatory requirements and has been
reviewed and approved by Jean Philippe
Paiement, PGeo, MSc, a consultant to Laurion, and a
"qualified person" within the meaning of National Instrument
43-101.
About LAURION
The Corporation is a junior mineral exploration and development
company listed on the TSXV under the symbol LME and on the OTCPINK
under the symbol LMEFF. LAURION now has 233,473,342 outstanding
shares of which approximately 79% 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 Brenbar Property, acquired in 2020, is contiguous
with the Ishkoday Property, hosts the historic Brenbar Mine.
LAURION believes 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.