LAURION Announces Engagement of DRA Americas Inc. to Provide ECPM Complete Scoping Study for the Recovery of its Surface Stockpiles at the Ishkoday Project
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LAURION Announces Engagement of DRA Americas Inc. to Provide
ECPM Complete Scoping Study for the Recovery of its Surface
Stockpiles at the Ishkoday Project
TORONTO, ONTARIO (November 23, 2022) – LAURION Mineral Exploration Inc. (TSX.V:
LME and OTCPINK: LMEFF) (“LAURION” or the “Corporation”), is very pleased to
announce that, further to its news release dated September 20, 2022, the Corporation
has commissioned DRA Americas Inc. (“DRA”) to provide a scoping study and
preliminary capital and operating cost estimates fo r the economic recovery of its
surface stockpiles at the Corporation’s wholly-owned Ishkoday Project, located 220
km northeast of Thunder Bay, Ontario.
DRA will execute a techno-economic stud y to establish preliminary estimate s of
capital and operating costs of processing facility, including the application of ore
sorting technology. The planned studies regarding the Ishkoday Stockpile Processing
Project are expected to be stage-gated with the goal of producing a final Feasibility
Study.
A legacy stockpile estimated to contain 144,000 tons with an average grade of
1.59g/t Au, was stacked adjacent to the mine shaft during the exploitation phase of
the Sturgeon River Mine. A tailings pile estimated at 137,501 tonnes grading 0.67 g/t
gold was also deposited of the legacy stockpile. These estimates are reported with a
cut-off grade of 0 g/t Au as described in the National Instrument 43 -101-compliant
Technical Report entitled “Technical Report on the Resource Estimate on the Sturgeon
River Mine Waste Pile and Tailings, Ishkoday Property, Northern Ontario ”, dated June
7, 2013 (the “ Technical Report ”), which is available o n SEDAR. (See the Technical
Report and the Corporation’s news release dated April 23, 2013.)
LAURION’s chief priority remains maximizing shareholder value by focusing its efforts
on advancing the Ishkoday Project, including the objective of initiating development
and production , concurrent with the execution of exploration of gold and
polymetallic potential, as well as continuing to explore opportunities and potential
strategic alternatives that are strategically beneficial to the Corporation and its
shareholders. The Corpora tion will promptly issue a news release if any material
change occurs.
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.
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About DRA Americas Inc.
DRA Americas Inc. a 100% owned subsidiary of DRA Global Limited (ASX: DRA | JSE:
DRA) (“DRA Global”), which is a diversified global engineering, project delivery and
operations management group, with an impressive track record spanning more than
three decades. Known for its collaborative approach and extensive experience in
project development and delivery, as well as turnkey operations and maintenance
services, DRA Global aims to deliver optimal solutions from ‘womb to tomb’ that are
tailored to meet needs of the mining industry.
About LAURION Mineral Exploration Inc.
The Corporation is a junior mineral expl oration and development company listed on
the TSXV under the symbol LME and on the OTCPINK under the symbol LMEFF. LAURION
now has 256,069,855 outstanding shares of which approximately 80% 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 km 2 Ishkoday Project, and its gold -silver and gold -rich polymetallic
mineralization with a significant upside potential.
The Ishkoday has a history of mining activity dating back to 1936, when gold and silver
was mined from 1936 to 1942. The Sturgeon River Mine produced 73,322 ounces of
gold, and 15,929 ounces of silver from the No. 3 Vein at 24 g/t gold.
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, airbor ne (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 z one,
except for some largely spaced drill holes located along the Ishkoday mineralized
trend.
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
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
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and condition, management's objectives, strategies, beliefs and i ntentions, the Corporation’s
engagement of DRA and/or its affiliates and the studies and estimates that result from this
engagement, and the Corporation’s ability to advance the Ishkoday Project , including the
Corporation’s ability to initiate development and production. 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 disclosure documents
available under its profile at www.sedar.com . 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 foregoing is not an exhaustive
list of factors that may affect the Corporation’s forward-looking statements. Other risks and
uncertainties not presently known to the Corporation and/or not specifically referenced herein
could also cause actual results or events to differ materially from those expressed in its 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.