TORONTO, Aug. 16,
2022 /CNW/ - LAURION Mineral Exploration Inc.
(TSX.V: LME) (OTCPINK: LMEFF) ("LAURION" or the
"Corporation"), is pleased to provide a corporate update for
the Corporation's 2022 Exploration Program at the Ishkoday
Au-Zn-Cu-Ag property (the "Ishkoday" or the
"property"), which is located 220 km northeast of
Thunder Bay, Ontario. The
following release aims at delivering an update on the drilling and
mapping work conducted thus far in 2022.
Overview of the 2022 Exploration
Program Activities on Ishkoday
2022 Drill Program
LAURION commenced a diamond drilling program in January 2022, completing 14,211.5 m in 46 drill holes. The last drill hole
was completed on July 4, 2022. The
drill program was designed to test the potential of the undrilled
continuity of the mineralization between the A-Zone, McLeod and CRK
areas. The drilling intersected stacked and steeply dipping
volcanogenic polymetallic mineralized zones and orogenic gold veins
from the A-Zone to the McLeod Zone, situated within a 1.5 km
northeastern segment of the 6 km-long Ishkoday mineralized trend.
The Corporation is still awaiting assay results for 22 drill
holes.
The 2022 drilling expanded the stacked vein system in the A-Zone
and McLeod zone area from an area of 1.1 km by 250 m to 1.5 km by up to 400 m in the A-Zone and up to 600 m in the McLeod Zone. The mineralized trend
remains open at depth and on strike.
To date, 419 drill holes, for a total of 78,663 m, have been drilled on the Ishkoday.
"The 2022 drill program has helped prove the continuity of the
current mineralized zones while also identifying new exploration
targets," stated Cynthia Le
Sueur-Aquin, President and CEO of LAURION. "These results
significantly increase the mineral exploration potential of the
Ishkoday Au-Zn-Cu-Ag deposit. We are most pleased with the success
of the 2022 drilling and mapping programs, which have demonstrated
that the stacked vein systems remain open at depth, along strike,
and to both the northwest and southeast, which suggests that the
mineral exploration potential of the Ishkoday Au-Zn-Cu-Ag deposit
may increase with continued targeted future drilling and
exploration programs."
2022 Ishkoday Mapping
Program
In June 2022, LAURION started a
geological mapping program at a scale of 1:2,500 in the A-Zone,
McLeod and CRK zones, covering the northeastern part of the
Ishkoday mineralized trend (over an area of 2.5 km by 1.5 km),
along strike with the Sturgeon River historic gold mine. The
historical mine is located 1 km to the southwest of the mapping
area and produced 73,438 oz. Au, 15,992 oz. Ag at an average grade
of 17 g/t Au from 1936 to 1942. The mapping program was designed to
help unravel the structural complexity of the area, identify key
alteration profiles and increase the current mineral exploration
potential of the Ishkoday Au-Zn-Cu-Ag veins.
A hand-stripping, power-washing and channel sampling program
commenced in advance of the mapping program, with the aim of:
opening up key areas to the west of the McLeod and CRK Zones; and
assisting with the critical structural and alteration mapping,
which is crucial to enhancing the 3D model and future drill
targeting. These key exploration activities are key to the
confirmation of the continuity and expansion of the mineralized
strike length.
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. LAURION now has 254,052,613 outstanding
shares of which approximately 82% 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.
Since 2003, Laurion has: completed multiple exploration surveys
on the property, including prospecting, mapping, geochemical (grab,
channel and soil sampling), ground and airborne geophysical (Mag,
IP, VLF-EM), 3D modelling, airborne (LiDAR) and drilling surveys;
invited experts in geophysics and in economic and structural
geology to visit and review the property; and undertaken a PhD
thesis and research led by Laurentian
University and Metal Earth. To date, 419 drill holes for a
total of 78,663 m have been drilled
on the property, including 43,396 m
completed by Laurion from 2010 to 2014 and from 2020 to 2022 and
35,267 m historic drill holes. Most
of the drill holes are closely-spaced and concentrated within the
A-Zone and McLeod zone, except for some largely-spaced drill holes
located along the Ishkoday mineralized trend.
Website: http://www.LAURION .ca
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.