TORONTO, April 19,
2022 /CNW/ - LAURION Mineral Exploration Inc.
(TSXV: LME) (OTCPINK: LMEFF) ("LAURION" or the
"Corporation") is pleased to announce assay results from
the first three (3) diamond drill holes designed to expand the
gold-and-zinc-rich mineralization at the A-Zone; located within a
2km segment of the 6 km long Ishkoday mineralized trend. The A-Zone
trend is located on the southeastern portion of the Ishkoday
project which LAURION is targeting with a 15,000 m drill campaign, which commenced on
January 14, 2022. The Ishkoday
project comprises an area of 47 km2 with initial
exploration focus in areas accessed via the road 801, approximately
20 km northeast of Beardmore,
Ontario.
The drilling confirmed the current geological interpretation and
3D model for the mineralization at the A-Zone. The interpreted
mineralized horizon and veins, believed to be associated with
syn-volcanics hydrothermal activity and later orogenic events, have
been intercepted in all holes from the 2022 drill campaign. The
redefined interpretation illustrates the stacked nature of the
mineralization extending over more than 2 km strike length and
200 m width from the CRK Zone to the
A-Zone.
In this newly drilled area, gold-and zinc-rich mineralization
were intercepted returning:
- LBX22-057: 1.21g/t Au, 6.40% Zn and 0.80% Cu over 8.70 m, including 1.67 g/t Au, 10.56% Zn, and
0.79% Cu over 2.68 m; 1.75 g/t Au,
13.36% Zn and 2.09% Cu over 1.45
m
- LBX22-056a: 0.85 g/t Au, 1.98% Zn and 0.18% Cu over
3.45 m, including 1.55 g/t Au, 7.79%
Zn and 0.27% Cu over 0.5 m
- LBX22-058: 1.55 g/t Au, 1.12% Zn, 0.11% Cu over 1.30 m, including 2.79 g/t Au, 1.85% Zn and 0.15%
Cu over 0.70 m
Along the Ishkoday mineralized trend, two mineralization styles
were identified:
- gold-and-zinc-rich volcanogenic veins/horizons and:
- orogenic style gold veins
A-Zone Assay Results
Highlights
Hole
ID
|
From
|
To
|
Length
|
Au
|
Zn
|
Cu
|
m
|
m
|
m
|
g/t
|
%
|
%
|
LBX22-056
|
13.50
|
15.50
|
2.00
|
0.26
|
1.59
|
0.08
|
|
|
|
|
|
|
|
LBX22-056a
|
13.50
|
14.30
|
0.80
|
2.33
|
2.63
|
0.54
|
LBX22-056a
|
127.55
|
131.00
|
3.45
|
0.85
|
1.98
|
0.18
|
including
|
128.60
|
129.10
|
0.50
|
1.55
|
7.79
|
0.27
|
including
|
129.70
|
130.20
|
0.50
|
1.01
|
2.06
|
0.28
|
LBX22-056a
|
136.20
|
146.10
|
9.90
|
0.25
|
1.79
|
0.08
|
including
|
136.20
|
138.00
|
1.80
|
0.37
|
3.70
|
0.20
|
including
|
139.00
|
140.00
|
1.00
|
0.50
|
3.24
|
0.08
|
LBX22-056a
|
161.70
|
163.46
|
1.76
|
0.60
|
6.66
|
0.33
|
including
|
162.86
|
163.46
|
0.60
|
0.86
|
15.00
|
0.43
|
|
|
|
|
|
|
|
LBX22-057
|
144.00
|
146.75
|
2.75
|
0.20
|
4.00
|
0.11
|
including
|
144.00
|
144.50
|
0.50
|
0.56
|
9.18
|
0.20
|
including
|
146.15
|
146.75
|
0.60
|
0.40
|
10.40
|
0.31
|
LBX22-057
|
152.50
|
155.85
|
3.35
|
0.17
|
1.04
|
0.02
|
including
|
155.35
|
155.85
|
0.50
|
0.85
|
5.10
|
0.09
|
LBX22-057
|
171.00
|
173.50
|
2.50
|
0.47
|
1.07
|
0.03
|
including
|
171.00
|
171.50
|
0.50
|
0.84
|
3.33
|
0.07
|
LBX22-057
|
222.55
|
231.25
|
8.70
|
1.21
|
6.40
|
0.80
|
including
|
222.55
|
224.00
|
1.45
|
1.75
|
13.36
|
2.09
|
including
|
228.57
|
231.25
|
2.68
|
1.67
|
10.56
|
0.79
|
|
|
|
|
|
|
|
LBX22-058
|
41.00
|
42.30
|
1.30
|
1.55
|
1.12
|
0.11
|
including
|
41.60
|
42.30
|
0.70
|
2.79
|
1.83
|
0.15
|
*Note that the mineralized structures are interpreted to be
steeply dipping and the intervals are not true width.
The current drilling campaign for the A-Zone also included:
- Three drill holes located along strike from these initial holes
(LBX22-056, LBX22-057 and LBX22-058) that also intersected gold-and
zinc rich veins (assays pending), which confirms that the
A-Zone extends significantly to the southwest over a newly opened
strike area of more than 700 m.
- Four new planned drill holes to further test the southwest
extension of the A-Zone.
- Two drill holes located in the northeastern portion of the
A-Zone have tested the mineralization zone at depth and intersected
gold-and-zinc-rich veins together with gold orogenic veins
(assays pending).
- Drilling in the A-Zone confirmed that the widest and
highest-grade intercepts are dipping to the southwest at
approximately 25° towards 225°, which is in line with the region
stretch lineation (See Figure I, Figure 2 and Figure 3).
Current Drilling and
Objectives
- Nine drill holes located in the McLeod zone swamp intercepted
the modelled gold- and zinc-rich veins and gold orogenic veins
along the northeast-trending Ishkoday mineralized trend (assays
pending).
- If spring conditions permit, three additional drill holes are
planned in the swamp to target a large chargeability anomaly
coinciding with the interpreted mineralized horizons.
- Once the spring breakup occurs, the drill will be moved to the
A-Zone to further investigate the newly opened area; and the
continuity of the CRK and A-Zone.
- Further drilling is also planned to test the possible
southeastern connection between the McLeod area and CRK Zones.
Sampling Analysis and
Laboratory
Samples from the 2022 drilling were cut and sent for analysis.
Preparation and analysis were completed at the Actlabs (ISO
9001:2015) laboratory in Thunder
Bay. Actlabs is an internationally recognized laboratory
that provides geochemical sample preparation, analytical
procedures, and data management solutions.
LAURION uses a quality assurance/quality control (QA/QC) program
that monitors the chain of custody of samples and includes the
insertion of blanks (5% of the announced results), duplicates (3%
of the announced results), and standard reference material (5% of
the announced results) in each batch of samples sent for analysis.
Drill core is photographed, logged, and cut in half with one half
retained in a secured location for verification purposes and one
half shipped for analysis.
The entire sample is crushed to 80% passing 2 mm and a riffle
split of 250 grams is taken and pulverized to 95% passing 105 µm
(RX1). Samples are analyzed by four-acid digestion/ICP-MS package
for 36 elements (1F2). Additionally, samples are analyzed for Au
using a firing assay from a 50-gram pulp (1A2B-50). Overlimit
samples values for zinc (>1%) and Pb (>0.5%) are re-assayed
using a four-acid digestion overlimit method with ICP-AES 9 (8-4
Acid over limit).
No QA/QC issues were noted with the results reported herein.
Qualified Person
The technical contents of this release were reviewed and
approved by Jean-Philippe Paiement,
PGeo, MSc, a consultant to LAURION, and a qualified person as
defined by National Instrument 43-101.
About LAURION Mineral
Exploration Inc.
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. The Corporation currently has
249,447,945 outstanding shares, of which approximately 81% 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 Brenbar Property, which was acquired in 2020 and 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.
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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 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.
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SOURCE Laurion Mineral Exploration Inc.