LAURION Announces 2024 Field Exploration Plans and Updates on Ishkõday Project
LAURION Announces 2024 Field Exploration Plans and
Updates on Ishkõday Project
TORONTO, ONTARIO - (June 4, 2024) – Laurion Mineral Exploration Inc. (TSX.V: LME and
OTCPINK: LMEFF) (“LAURION” or the “Corporation”) is pleased to provide an update
of its 2024 exploration and drilling program at the Corporation’s Ishkõday Project,
which is located 220 km northeast of Thunder Bay, Ontario.
LAURION has completed its Spring 2024 diamond drill program, achieving 4,289 metres
of drilling. The first five drill holes (LME24 -041 to LME24-045) have been received and
reported (see the Corporation’s press releases dated May 1, 2024 and May 23, 2024),
with final assays for drill holes LME24-046 to LME24-048 still pending.
Favorable early spring conditions at Ishkõday enabled LAURION to launch its Summer
2024 field exploration program at the Ziibi Zone in mid -May. The Ziibi Zone is located
1.8 km on the north side of the Namewaminikan river east of Highway 801, along strike
of the Sturgeon Zone. This area was drilled by Carling Gold between 1975 and 1988,
during which several drill holes intersected quartz veins and shears, yielding gold
values up to 11.00 g/t and copper values up to 3.04%. In the Corporation’s view, these
results underscore the high prospectivity of the Ziibi Zone. A program of power washing
and channel sampling, followed by detailed mapping, is planned for this zone.
Next, the field exploration team will move to the Twin Falls Project, situated within the
Pifher, Irwin, and Sandra Townships located 6.4 km to the northwest of the Ishkõday
Project. This area is located four (4) kilometres to the south of the Paint Lake Fault, a
significant regional break, while the Musca Lake Fault runs through the southern
boundary of the claim group. Gold occurs in two types of mineralization: quartz veins
(stockworks) and pyritic horizons within felsic tuff and quartz feldspar porphyry. Power
stripping in 1998 revealed a 60 m wide zone comprising highly sheared and sericitized
quartz-eye feldspar porphyry or felsic tuff. This zone strikes E-W at 102 degrees and dips
steeply to the south. (The Beardmore-Geraldton Economic Geologist - August 7, 1985
and October 24, 1985 - B. Nelson - MDI42E13NW00004.)
KBM Resources Group, headquartered in Thunder Bay, recently conducted an aerial
acquisition of high-resolution imagery and LiDAR over the Twin Falls project. Covering
10km², this airborne endeavor will harness LiDAR technology to identify surficial
features suc h as historic pits and/or trenches while also delineating possible
geological structures , which should greatly facilitate LAURION in its Summer field
exploration program, the data for which is expected to be available shortly.
A comprehensive prospecting program is planned for the zones west of the Sturgeon
River Mine shaft and the Brenbar Mine area. The objective is to expand and identify
new prospective areas in close proximity to the Sturgeon River Mine Shaft, enhancing
the potential for future exploration and drilling.
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
The Corporation is a junior mineral exploration and development company listed on
the TSX Venture Exchange under the symbol LME and on the OTC under the symbol
LMEFF. LAURION now has 267,071,735 outstanding shares of which approximately 72%
are owned and controlled by Insiders who are eligible investors under the “Friends and
Family” categories.
LAURION's emphasis is on the exploration and development of its flagship project, the
100% owned mid-s tage 57 .43 km2 Ishkõday Project, and its gold -rich polymetallic
mineralization.
FOR FURTHER INFORMATION, CONTACT:
LAURION Mineral Exploration Inc.
Cynthia Le Sueur-Aquin – President and CEO
Tel: 1-705-788-9186
Fax: 1-705-805-9256
Douglas Vass - Investor Relations Consultant
Email: [email protected]
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 Corporation’s
ability to advance the Ishkõday Project, the nature, focus, timing and potential results of the
Corporation’s exploration, drilling and prospecting activities in 2024 and beyond, including its
planned activities for the Ishkõday Project for the remainder of 2024. 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 a s 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, f or 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.