TORONTO, Aug. 31,
2022 /CNW/ - LAURION Mineral Exploration Inc.
(TSX.V: LME) (OTCPINK: LMEFF) ("LAURION" or the
"Corporation"), is pleased to announce the assay results for
nine (9) new diamond drill holes, totalling 4,207.5m, which tested the potential continuity
of mineralization between the southwestern portion of the A-Zone
the McLeod Zone.
These results confirm the strike length extension of the A-Zone
over 1.6km and remains open close to surface towards the Northeast
and at depth towards the Southwest. The drilling also confirmed the
continuity of the mineralization between the CRK and McLeod areas,
in previously undrilled areas. Both the A-Zone and McLeod Zones are
located along the 6 km long Au-Zn-Cu-Ag mineralized trend at the
Ishkoday project, near Beardmore,
Ontario.
Drilling Highlights
The results for hole LBX22-072 to LBX22-080 (9 holes) include
the following intersections.
Hole
ID
|
From
|
To
|
Core
Length
|
True
Width*
|
Au
|
Zn
|
Cu
|
Ag
|
|
(m)
|
(m)
|
(m)
|
(m)
|
(g/t)
|
( %)
|
( %)
|
(g/t)
|
LBX22-072
|
336.10
|
341.00
|
4.90
|
3.92
|
0.03
|
0.78
|
0.14
|
3.72
|
including
|
|
|
1.50
|
1.20
|
0.01
|
1.51
|
0.03
|
1.60
|
LBX22-073
|
73.50
|
76.70
|
3.20
|
2.56
|
0.82
|
1.36
|
0.17
|
4.70
|
including
|
|
|
1.00
|
0.80
|
2.36
|
0.98
|
0.34
|
3.60
|
LBX22-073
|
81.45
|
82.00
|
0.55
|
0.44
|
0.68
|
0.45
|
1.26
|
54.10
|
LBX22-073
|
238.50
|
240.00
|
1.50
|
1.20
|
1.18
|
0.01
|
0.00
|
0.80
|
LBX22-073
|
342.50
|
344.00
|
1.50
|
1.20
|
2.08
|
0.14
|
0.01
|
2.60
|
LBX22-073
|
414.00
|
417.00
|
3.00
|
2.40
|
1.03
|
0.06
|
0.04
|
2.00
|
including
|
|
|
1.50
|
1.20
|
1.22
|
0.05
|
0.05
|
1.90
|
LBX22-074
|
247.00
|
248.00
|
1.00
|
0.80
|
2.59
|
0.01
|
0.00
|
0.80
|
LBX22-074
|
380.85
|
382.60
|
1.75
|
1.40
|
0.14
|
5.67
|
0.00
|
26.65
|
including
|
|
|
0.90
|
0.72
|
0.15
|
9.16
|
0.01
|
31.60
|
LBX22-075
|
334.00
|
335.50
|
1.50
|
1.20
|
1.89
|
0.02
|
0.00
|
0.70
|
LBX22-075
|
398.40
|
400.00
|
1.60
|
1.28
|
2.79
|
0.07
|
0.34
|
31.66
|
including
|
|
|
0.50
|
0.40
|
8.91
|
0.19
|
1.08
|
100.00
|
LBX22-076
|
154.00
|
155.45
|
1.45
|
1.16
|
0.11
|
2.21
|
0.01
|
0.98
|
including
|
|
|
0.55
|
0.44
|
0.27
|
5.80
|
0.02
|
1.60
|
LBX22-077
|
250.50
|
253.50
|
3.00
|
2.40
|
0.16
|
2.14
|
0.08
|
3.80
|
LBX22-077
|
451.50
|
453.00
|
1.50
|
1.20
|
0.92
|
1.72
|
0.53
|
18.44
|
including
|
|
|
0.60
|
0.48
|
2.13
|
3.80
|
1.02
|
37.10
|
LBX22-078
|
300.10
|
304.25
|
4.15
|
3.32
|
1.56
|
1.27
|
0.04
|
3.76
|
including
|
|
|
0.50
|
0.40
|
10.90
|
2.79
|
0.06
|
14.60
|
LBX22-079
|
263.30
|
267.00
|
3.70
|
2.96
|
0.56
|
2.34
|
0.19
|
7.24
|
including
|
|
|
0.50
|
0.40
|
0.87
|
4.71
|
0.22
|
10.20
|
LBX22-080
|
228.80
|
232.00
|
3.20
|
2.56
|
1.03
|
2.30
|
0.11
|
4.12
|
including
|
|
|
0.40
|
0.32
|
7.11
|
15.20
|
0.61
|
22.20
|
* True widths are
calculated based on an average dip of 70° towards N330° for the
mineralized zones
|
Drill holes LBX22-072 and 074 tested a potential N-S zone at
300m depth, which was found to hold
mineralization. Holes LBX22-073, located to 205 m to the northeast of drill holes LME11-013
(3.22g/t Au, 27.5g/t Ag, 0.38% Cu and 5.63% Zn) in the Ahki Vein
area has also confirmed the northeast extension of this system.
Drill holes LBX22-075 and 076 successfully confirmed the
southwestern continuity of the McLeod Zone at depth. Drill holes
LBX22-077 to 082 also tested the potential extension of the A-Zone
mineralization to the southwest between the A-Zone and McLeod Zone,
with current results confirming the continuity of the mineralized
system.
"The 2022 drill program has demonstrated the continuity of
the current mineralized zones in new and undrilled areas, while
also identifying new exploration targets in high grade trends,"
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 width 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."
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 Corporation is still awaiting the assay results of 14 drill
holes. The 2022 diamond 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 2022 drilling expanded the stacked vein system in the A-Zone
and McLeod area from an area of 1.1 km by 250 m (in 2021) 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.
A hand-stripping, power-washing and channel sampling program in
advance of the mapping program is in progress, with the aim of 1)
opening up key areas to the west of the McLeod and CRK Zones; and
2) assisting with the critical structural and alteration mapping,
which is crucial to enhancing the 3D model and future drill
targeting. These key exploration activities will assist the
technical team in confirming of the continuity and expansion of the
mineralized strike length.
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 – 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
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.