TORONTO, May 31, 2022
/CNW/ - LAURION Mineral Exploration Inc. (TSX.V: LME) and
(OTCPINK: LMEFF) ("LAURION" or the "Corporation") is
pleased to announce assay results for three (3) new diamond drill
holes testing the continuity at depth of the northeastern portion
of the A-Zone. The A-Zone is located along the 6 km long
Au-Zn-Cu-Ag mineralized trend at the Corporation's Ishkoday
Project, located near Beardmore,
Ontario.
The current assay results have demonstrated that the
northeastern part of the A-Zone gold- and zinc-rich synvolcanic
mineralization extends to depth over more than 240 m vertical. The drilling also identified a
new mineralized structure, associated with the Bezhik shear zone,
bordering the northeastern edge of the A-Zone.
The depth extension of the A-Zone returned the following
highlights (see table for full results):
- LBX22-063 from 173.5 to 175.25 m:
1.75 m (1.47
m true width (TW)) @ 0.52 g/t Au and 1.82% Zn.
- LBX22-064 from 234 to 239.95: 5.95
m (4.83m TW) @ 0.85 g/t Au,
0.54% Zn and 0.20% Cu. Including 1.95m (from 238 to 239.95m) @ 2.44 g/t Au, 1.58% Zn and 0.56%
Cu.
- LX22-065 from 282 to 290 m:
8 m (6.69
m TW) @ 0.39 g/t Au, 2.48% Zn and 0.32% Cu. Including
1.00 m (from 289 to 290m) @ 1.68 g/t Au, 6.26% Zn and 1.12% Cu.
The new mineralized structure in association with the Bezhik
shear returned the following highlights:
- LBX22-065 from 175.3 to 178.10 m:
2.80 m (2.24
m TW) @ 2.12 g/t Au, 3.07% Zn and 0.34% Cu.
This new mineralized area is open to the southwest and the
A-Zone remains open at depth. The extensions are further tested by
LBX22-077, LBX22-078, LBX22-079 and LBX22-080 (assay pending).
Current Drilling and
Objectives
- A total of 10,191 m in
twenty-seven diamond drill holes have been drilled to date with
assays pending for eight drill holes in the McLeod Zone and six
drill holes between the A-Zone and McLeod Zone, in which all drill
holes have intercepted the stacked veins.
- The drill is currently in the McLeod zone to test its
continuity to the southwest where the stacked veins coincide with a
large magnetic high anomaly. Seven drill holes are planned in this
zone.
-
- Further drilling is also planned to test: (i) the western
connection between the A-Zone and the McLeod Zone; and (ii) 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)
|
LBX22-063
|
10.50
|
14.90
|
4.40
|
3.80
|
0.15
|
0.72
|
0.03
|
1.92
|
LBX22-063
|
100.00
|
108.50
|
8.50
|
7.22
|
0.19
|
0.09
|
0.03
|
7.22
|
LBX22-063
|
173.50
|
175.25
|
1.75
|
1.47
|
0.52
|
1.82
|
0.20
|
12.79
|
including
|
174.45
|
175.25
|
0.80
|
|
1.02
|
3.18
|
0.34
|
23.70
|
LBX22-064
|
234.00
|
239.95
|
5.95
|
4.83
|
0.85
|
0.54
|
0.20
|
11.72
|
including
|
238.00
|
239.95
|
1.95
|
|
2.44
|
1.58
|
0.56
|
33.95
|
LBX22-064
|
275.30
|
276.00
|
0.70
|
0.56
|
0.37
|
4.07
|
0.31
|
14.00
|
LBX22-065
|
15.40
|
16.55
|
1.15
|
0.92
|
0.86
|
1.89
|
0.06
|
5.35
|
LBX22-065
|
175.30
|
178.10
|
2.80
|
2.24
|
2.12
|
3.07
|
0.34
|
20.14
|
LBX22-065
|
218.20
|
219.70
|
1.50
|
1.26
|
0.54
|
2.51
|
0.23
|
9.86
|
LBX22-065
|
282.00
|
290.00
|
8.00
|
6.69
|
0.39
|
2.48
|
0.32
|
13.96
|
including
|
282.00
|
287.00
|
5.00
|
|
0.26
|
2.60
|
0.26
|
12.72
|
including
|
289.00
|
290.00
|
1.00
|
|
1.68
|
6.26
|
1.12
|
39.50
|
* True widths are
calculated based on an average dip of 70° towards N330° for the
mineralized zones
|
Please refer to the schematic sections shown in
Figure1, Figure 2, Figure 3 and Figure 4.
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,
Ontario. 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 – Standards of Disclosure
for Mineral Projects.
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 252,384,022
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.
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, 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.