Laurion Announces First Field Explora tion Update for 2018 on the Ishkoday Project: A Gold-Polymetallic Mineralized System in the Onaman-Tashota Greenstone Belt, Beardmore-Geraldton Area (Ontario)
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Laurion Announces First Field Explora tion Update for 2018 on the Ishkoday
Project: A Gold-Polymetallic Mineralized System in the Onaman-Tashota
Greenstone Belt, Beardmore-Geraldton Area (Ontario)
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TORONTO, ONTARIO (June 19, 2018) - Laurion Mineral Exploration Inc. (TSX.V: LME) and
(OTCPINK: LMEFF) (“Laurion” or the “Corporation”) is pleased to issue its first update
from the 2018 summer field exploratio n program at the Corporation’s 47 km2 Ishkoday
Project (“Ishkoday”).
Laurion’s personnel and Explo-Logik’s technical crews (the “Team”) have been
diligently working on two fronts: compilatio n-synthesis of the entir e Ishkoday database
(the “Data”) using GIS software, and field validation of historical and recent data.
Current Highlights:
The Team is selectively geological mapping and prospecting historic mineralized
“veins” and their extensions, and new area s in the previously untested northern
claims. New mineralized occurrences are being manually stripped, cleaned and
mapped. Grab and whenever possible d eep channel samples are also being
taken and sent for analysis to the ALS Laboratory facilities.
This work is part of the three-phased exploration program proposed for the next
36 months, aimed at defining near surface polymetallic gold mineral resources.
Initial reconnaissance highlights of the campaign were issued earlier (refer to the
Corporation’s news release dated May 29, 2018).
The GIS compilation of all previous work is now complete. Prospecting of the
northern claims is currently anticipate d to be completed by June 21, 2018. The
Team’s field evaluation of the prev ious exploration work, geology and
mineralization is currently anticipated to be completed by June 27, 2018.
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The Team has now developed a practical geological and exploration model for
the SE portion of Ishkoday within the 3km by 1km outcrop area encompassing all
of the previously known gold-polymetallic mineralization (the “Target Area”).
Further field validation is re quired to test the continuity of individual and combined
mineralized NE-SW trending centimetric-to metric-wide and kilometric-long lode gold
quartz shear and extension veins (the “Quart z Veins”). The planned work will include
additional manual and mechanized outc rop stripping, channel sampling and
assaying.
There are 4 strategic NW-SE 400m to 500m ou tcrop stripping lines (the “Lines”) planned
as a first pass assessment across key NE-SW trending Quartz Veins and gold-
polymetallic (copper-zinc) veins (the “Polymet allic Veins”) systems in the Target Area
(Figure 1). One of the Lines will cross a sector where historic surface mapping identified
at least 20 Quartz Veins combined with several Polymetallic Veins (Figure 2).
Historic surface outcrop stripping, channel sampling and assaying of Quartz Veins was
completed by Phoenix Gold Mines Ltd. (“ Phoenix Gold”) in the 1980’s. Appended
maps in the Phoenix Gold report (“ 1986 Exploration Program Report, Sturgeon River
Gold Mines Property, 34 pages, by L.O. Koskitalo, February 1988 ”) appear to show NE-
SW trending Quartz Veins up to 1 km lengths, hosting significant go ld values, attesting
to their individual prospectivity:
The combined Marge ( 314m along the 36cm wide vein graded 17.62 g/t gold )
and “F” (21m along the 25cm wide vein yielded 30.72 g/t gold) Veins (Figure 2).
The Nos. 8/11 Vein ( 40m along the 29cm wide vein graded 0.89 g/t gold ; and
10m along the 12cm wide vein yielded 2.50 g/t gold) (Figure 2).
The No. 85 ( 21m along the 19cm wide vein yielded 20.26 g/t gold ) and “A”
(6.5m along the 98cm wide vein grading 24.44 g/t gold ; 11m along the 39cm
wide vein grading 9.60 g/t gold ; and 13m along the 18cm wide vein grading
23.41 g/t gold) Veins (Figure 2).
Geological and Exploration Model Overview
The historic work completed by Phoenix Gold and Laurion demonstrates that Ishkoday
hosts hundreds of Quartz Veins. There are 85 diamond drill core assay results over 5 g/t
gold with interval lengths of 0.1m to 3.2m, lo cally associated with significant silver, zinc
and copper values.
Current observations at the Ishkoday st rongly suggest a major network of un-
developed Quartz Veins, which are similar to those also observed in Archean vein
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systems in the Abitibi Greenstone Belt (the “AGB”), as seen at Sigma-Lamaque
(historical underground production of 9 mi llion ounces of gold) and Dome deposits
(recent open pit and historical undergroun d combined production of 25+ million
ounces of gold).
Contrary to these other deposits Ishkoday shows two mineralized systems, one gold-
silver-rich and the other gold-silver-zinc-copper.
Mineralization hosted on the Sigma-Lamaqu e and Dome deposits are not necessarily
indicative of the mineralization hosted on the Company’s property.
Both the Quartz Veins and Polymetallic Veins patterns follow axes from a NE-SW Strain
Ellipse in a Simple Shear De formation Model. The Quartz Veins appear to have been
emplaced during regional deformation of the greenstone belt encompassing
Ishkoday. The Polymetallic Veins appear to be localized in specific corridors ( Figure 3)
and commonly associated with sericite-chlo rite altered shears and magnetite bands,
with or without quartz veining.
Concurrently with the outcrop stripping prog ram, Laurion will re-log the existing drill
core from its 2010 to 2014 drilling campaigns to increase understanding of the geology
and mineralization, all to determine the extent and origin of, and size potential of the
polymetallic gold-silver-zinc-copper system.
For Figures 1, 2 and 3 referred to in this news release, see URL
http://www.laurion.org/2018 accessed on the Corporation’s website at
http://www.laurion.ca or Laurion.org
About Laurion Mineral Exploration Inc.
The Corporation is a junior mineral explor ation and development company listed on
the TSX Venture Exchange (the “TSX-V”) un der the symbol “LME” and on the OTCPINK
under the symbol “LMEFF”.
The Corporation’s emphasis is on the development of its flagship project, the 100%
owned mid-stage Ishkoday Project, and it s gold-silver and gold-rich polymetallic
mineralization with a significant upside potential.
The Corporation has a property-wide databa se of 283 diamond drill holes totaling
40,729 m, detailed sampling, mapping, assa ys and geochemical analysis, and ground
geophysics. The mineralization is open at de pth beyond the current core drilling limit
of -200 m from surface, based on the hi storical mining to a -685 m depth, as
evidenced in the past producing Sturge on River Mine (the “Mine”). The Mine
produced 73,322 ounces of gold, and 15,929 ounces of silver from 1936 to1942 on the
No. 3 Vein at 24 g/t gold, and generated a la rge gold and silver bearing stockpile of
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144,070 tonnes grading 1.59 g/t gold in the Indicated Mineral Resources category
(based on a NI 43 -101 Technical Report filed on SEDAR in June 2013 – refer to the
Corporation’s news release dated April 23, 2013).
Mr. Jean Lafleur, P. Geo. (APGO, OGQ), La urion’s Technical Advisor to the Board of
Directors, is a Qualified Person as defined by National Instrument 43-101 guidelines,
and has reviewed and approved the content of this news release.
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 news 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 details, anticipated timing
and completion of the transactions and other matters described in this news release, including without
limitation, the timing and completion of Laurion’s exploration activities in regards to Ishkoday. The
forward-looking statements involve risks and unce rtainties. 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
Laurion Common Shares, the interpretation and actual results of current exploration activities, changes
in project parameters as plans continue to be refi n e d , f u t u r e p r i c e s o f g o l d a n d / o r o t h e r m e t a l s ,
possible variations in grade or recovery rates, failure of equipment or processes to operate as
anticipated, the failure of contracted parties to pe rform, 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.
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