TORONTO, May 25, 2022
/CNW/ - LAURION Mineral Exploration Inc. (TSXV: LME)
(OTCPINK: LMEFF) ("LAURION" or the "Corporation") is
pleased to announce assay results for three (3) new diamond drill
holes testing the continuity of the newly opened area that extends
the A-Zone by 700 m towards the
Southwest. This area is located within a 2km segment of the 6 km
long Ishkoday mineralized trend, which is located in the
southeastern portion of the Ishkoday Au-Zn-Cu-Ag project. These 3
holes are part of a 15,000 m drilling
campaign design to confirm the presence of continuous
mineralization from the A-Zone to the CRK Zone, over a strike of 3
km. 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 current assay results confirmed the continuity of the A-Zone
to the southwest by 160 m since the
last release and intercepted the stacked gold- and zinc-rich
epithermal and orogenic gold veins (See Figure 1) returning:
- LBX22-059 from 141 m to
148 m: 7.00
m (5.60 m true width ("TW")) @
0.14 g/t Au and 0.63% Zn; including 1.00
m (0.80 m TW) @ 0.38 g/t Au
and 1.60% Zn and 1.00 m (0.80 m TW) @ 0.38 g/t Au and 1.84% Zn
- LBX22-060 from 201.5 m to
209.9 m: 8.40
m (6.72 m TW) @ 0.62 g/t Au,
3.05% Zn and 0.15% Cu; including 1.00m (0.80m TW) @
0.61g/t Au, 4.27% Zn and 0.19% Cu and; 2.30
m (1.84 m TW) @ 1.15 g/t Au,
4.20% Zn and 0.23% Cu.
- LBX22-060 from 251m to
255 m: 4.00
m (3.20 m TW) @ 0.37 g/t Au,
2.90% Zn and 0.28% Cu; including 1.00m (0.80m TW) @
1.21g/t Au, 10.70% Zn and 0.93% Cu
- LBX22-061 from 327.5m to
329.1 m: 1.60
m (1.28 m TW) @ 1.31 g/t Au,
1.66% Zn and 0.36% Cu; including 0.50m (0.40m TW) @
3.04g/t Au, 3.71% Zn and 0.75% Cu
- LBX22-061 from 420 m to
422.6 m: 2.60
m (2.08 m TW) @ 1.11 g/t Au
and 0.21% Zn; including 0.60m
(0.48m TW) @ 3.49g/t Au and 0.01%
Zn
Current Drilling and
Objectives
- A total of 9,463 m in twenty-six
diamond drill holes have been drilled to date with assays pending
for one drill hole in the A-Zone, eight drill holes in the McLeod
Zone and five drill holes between the A-Zone and McLeod Zone that
all intercepted the stacked veins.
- The drill is currently back in the A-Zone area to further
investigate the newly opened area and its connection with to the
CRK area with five drill holes drilled (assay pending) and
another drill hole planned.
- Further drilling is also planned to test:
-
- The southwestern extension of the McLeod Zone associated with a
large magnetic high anomaly; that coincides with the stacked
veins
- The western connection between the A-Zone and the McLeod Zone
and
- The mineralized gold Joe vein in McLeod Zone; identified
through surface sampling.
A-Zone Assay Results Highlights
Hole
ID
|
From
|
To
|
Core
Length
|
True
Width*
|
Au
|
Zn
|
Cu
|
Ag
|
|
(m)
|
(m)
|
(m)
|
(m)
|
(g/t)
|
(%)
|
(%)
|
(g/t)
|
LBX22-059
|
141.00
|
148.00
|
7.00
|
5.60
|
0.14
|
0.63
|
0.05
|
14.89
|
including
|
141
|
142
|
1.00
|
|
0.38
|
1.60
|
0.15
|
61.10
|
including
|
147
|
148
|
1.00
|
|
0.38
|
1.84
|
0.08
|
26.40
|
LBX22-060
|
83.00
|
88.15
|
5.15
|
4.12
|
0.31
|
0.35
|
0.01
|
1.27
|
including
|
85.7
|
86.2
|
0.50
|
|
1.14
|
0.87
|
0.03
|
2.80
|
including
|
87.6
|
88.15
|
0.55
|
|
0.34
|
1.64
|
0.02
|
3.80
|
LBX22-060
|
96.50
|
98.30
|
1.80
|
1.44
|
0.46
|
1.53
|
0.10
|
6.98
|
including
|
97.5
|
98.3
|
0.80
|
|
0.91
|
3.32
|
0.22
|
14.70
|
LBX22-060
|
157.10
|
161.20
|
4.10
|
3.28
|
0.09
|
4.86
|
0.14
|
11.55
|
including
|
159.1
|
161.2
|
2.10
|
|
0.14
|
9.33
|
0.25
|
21.30
|
LBX22-060
|
188.50
|
190.60
|
2.10
|
1.68
|
0.21
|
3.36
|
0.12
|
6.00
|
including
|
189.5
|
190.1
|
0.60
|
|
0.17
|
11.20
|
0.22
|
11.00
|
LBX22-060
|
201.50
|
209.90
|
8.40
|
6.72
|
0.62
|
3.05
|
0.15
|
8.07
|
including
|
202.5
|
203.5
|
1.00
|
|
0.61
|
4.27
|
0.19
|
9.70
|
including
|
204.7
|
207
|
2.30
|
|
1.15
|
4.20
|
0.23
|
13.67
|
including
|
209
|
209.9
|
0.90
|
|
0.17
|
5.91
|
0.05
|
4.50
|
LBX22-060
|
221.60
|
223.90
|
2.30
|
1.84
|
0.38
|
2.96
|
0.19
|
6.59
|
including
|
223.32
|
223.9
|
0.58
|
|
0.99
|
7.40
|
0.39
|
11.40
|
LBX22-060
|
237.70
|
239.00
|
1.30
|
1.04
|
0.17
|
1.14
|
0.01
|
0.75
|
LBX22-060
|
251.00
|
255.00
|
4.00
|
3.20
|
0.37
|
2.90
|
0.28
|
15.37
|
including
|
252.4
|
253.4
|
1.00
|
|
1.21
|
10.70
|
0.93
|
26.70
|
LBX22-061
|
27.30
|
29.00
|
1.70
|
1.36
|
0.43
|
2.19
|
0.06
|
3.68
|
LBX22-061
|
45.50
|
49.20
|
3.70
|
2.96
|
0.22
|
0.94
|
0.04
|
1.46
|
including
|
48
|
49.2
|
1.20
|
|
0.36
|
2.80
|
0.09
|
3.20
|
LBX22-061
|
59.10
|
62.50
|
3.40
|
2.72
|
0.15
|
0.33
|
0.04
|
2.26
|
LBX22-061
|
130.00
|
132.70
|
2.70
|
2.16
|
0.49
|
0.90
|
0.06
|
3.67
|
including
|
132.03
|
132.7
|
0.67
|
|
0.68
|
3.20
|
0.08
|
5.00
|
LBX22-061
|
181.70
|
185.50
|
3.80
|
3.04
|
0.09
|
0.77
|
0.06
|
1.48
|
including
|
181.7
|
182.2
|
0.50
|
|
0.34
|
3.25
|
0.16
|
4.30
|
LBX22-061
|
245.30
|
252.50
|
7.20
|
5.76
|
0.17
|
1.00
|
0.05
|
2.55
|
including
|
245.3
|
245.8
|
0.50
|
|
0.13
|
2.64
|
0.10
|
5.10
|
including
|
250.9
|
252.5
|
1.60
|
|
0.50
|
3.00
|
0.12
|
5.38
|
LBX22-061
|
327.50
|
329.10
|
1.60
|
1.28
|
1.31
|
1.66
|
0.36
|
9.47
|
including
|
328.6
|
329.1
|
0.50
|
|
3.04
|
3.71
|
0.75
|
21.50
|
LBX22-061
|
337.50
|
340.50
|
3.00
|
2.40
|
0.26
|
0.86
|
0.21
|
5.50
|
LBX22-061
|
409.50
|
412.50
|
3.00
|
2.40
|
0.26
|
0.32
|
0.01
|
0.65
|
LBX22-061
|
420.00
|
422.60
|
2.60
|
2.08
|
1.11
|
0.21
|
0.00
|
1.55
|
including
|
422
|
422.6
|
0.60
|
|
3.49
|
0.01
|
0.00
|
4.70
|
* True widths are
calculated based on an average dip of 70° towards N330° for the
mineralized zones
|
See Figure 1 and Figure 2
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.
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.