LAURION announces initial Phase 2 drill results, including 152 g/t gold over 1.00 m, at CRK Zone, Ishkoday Project, Ontario
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LAURION announces initial Phase 2 drill results, including 152 g/t
gold over 1.00 m, at CRK Zone, Ishkoday Project, Ontario
THIS NEWS RELEASE IS INTENDED FOR DISTRIBUTION IN CANADA ONLY AND IS NOT
INTENDED FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR
DISSEMINATION IN THE UNITED STATES.
TORONTO, ONTARIO (December 1, 2020) – LAURION Mineral Exploration Inc. (TSX.V:
LME and OTCPINK: LMEFF) (“LAURION” or the “Corporation”) is pleased to report
assay results for the first four (4) drill holes of the ten (10) hole, 2,962 m Phase 2 drill
campaign, completed on the CRK Zone, Ishkoday Project. Assay results are pending
on the remaining six (6) holes. The Ishkoday Project is located approximately 220 km
northeast of Thunder Bay, Ontario , near the town of Beardmore in the Onaman -
Tashota gold belt.
Highlights:
LME20-025
o 14.25 m @ 10.98 g/t gold, including:
1.00 m @ 152 g/t gold;
1.00 m @ 3.90 g/t gold
LME20-024
o 2.00 m @ 2.75 g/t gold, 17.7 g/t silver, 1.28 % copper
LME20-022
o 1.69 m @ 7.56 g/t silver, 2.40 % zinc
LME20-023
o 0.50 m @ 6.70 g/t silver, 3.46 % zinc
David Lewis, P.Geo., LAURION Exploration Manager, commented: “ Mineralization
has been intersected in each of the first four holes, showing good continuity of
surficial mineralization to depth. These first four drillholes targeted specific
mineralization at the main CRK zone, including the Azurite, A5, Akhi and Joe veins, in
areas with poor outcrop exposure.
Thus far, hole LME20-025, targeting the north-striking Joe structure, is our best result at
10.98 g/t gold over 14.25 m (2.42 g/t gold if capped to 30 g/t). On surface, channel
sampling returned 4.25 m at 5.98 g/t gold and 2.84 % zinc (see October 13, 2020
news release) . Now we are intersecting better gold grades, and across a much
wider interval, at 140 m depth. Although there is clearly a variation in gold values
across the structure, the increase in mineralized width with depth is very
encouraging.”
Cynthia Le Sueur -Aquin, President and CEO, commented: “ These are the initiatory
drill holes, testing a number of extensional zones to the north of the approximate 680
m by 380 m wide CRK Zone. The drill holes target these extensional zones where
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channel sampling returned very encouraging results, but where exposure was
minimal.”
Significant assay data is presen ted in Table 1 and drill hole position and orientation
data is presented in Table 2. A plan m ap of mineralization and drill sections are
presented in Figure 1.
Table 1: Significant assay results, LME20-022 to LME20-025
Hole ID From
(m)
To (m) Length
(m)
Gold
(g/t)
Silver
(g/t)
Copper
(wt%)
Zinc
(wt%)
LME20-022 31.71 33.40 1.69 0.10 7.56 0.15 2.40
LME20-023 38.50 39.00 0.50 0.13 6.70 0.18 3.46
LME20-023 50.26 50.87 0.61 0.48 0.25 0.00 0.02
LME20-023 74.50 75.00 0.50 0.40 0.25 0.00 0.01
LME20-023 147.85 148.35 0.50 0.13 11.00 0.24 0.03
LME20-023 177.59 181.10 3.51 0.25 0.33 0.00 0.02
LME20-024 14.00 16.00 2.00 2.75 17.70 1.28 0.26
LME20-024 52.50 53.00 0.50 0.73 0.50 0.00 0.02
LME20-024 113.70 114.86 1.16 0.55 0.25 0.00 0.01
LME20-024 158.50 159.00 0.50 2.22 0.80 0.00 0.02
LME20-024 167.50 168.84 1.34 0.13 7.30 0.18 2.03
LME20-024 202.50 210.50 8.00 0.26 0.45 0.01 0.02
LME20-024 227.00 228.00 1.00 0.65 1.30 0.03 0.02
LME20-025 4.40 5.25 0.85 0.31 1.00 0.09 1.86
LME20-025 25.00 33.03 8.03 0.02 0.75 0.01 0.28
LME20-025 89.50 90.20 0.70 1.22 0.50 0.00 0.02
LME20-025 191.55 205.80 14.25 10.98 3.07 0.08 0.24
Including 191.55 193.00 1.45 0.02 0.54 0.08 0.04
And 193.00 195.00 2.00 0.14 2.05 0.31 0.15
And 195.00 198.00 3.00 0.02 0.37 0.05 0.03
And 198.00 199.00 1.00 152.00 31.80 0.02 0.02
And 199.00 201.00 2.00 0.04 0.38 0.03 0.02
And 201.00 202.00 1.00 3.90 0.83 0.01 0.03
And 202.00 205.30 3.30 0.03 0.25 0.01 0.07
And 205.30 205.80 0.50 0.13 7.20 0.24 5.28
LME20-025 287.00 291.00 4.00 0.04 2.26 0.05 1.50
LME20-025 327.00 329.00 2.00 0.77 0.95 0.01 0.02
Note: Mineralization is subvertical and the true width of mineralization is estimated at >60% of the drill
hole interval.
Table 2: Collar position, orientation and depth of diamond drill holes
Hole ID Easting Northing Elevation
(m)
Depth
(m)
Azimuth
(°)
Dip (°)
LME20-022 445452 5512254 323 85 70 -50
LME20-023 445452 5512255 322 200 110 -50
LME20-024 445520 5512231 322 254 110 -50
LME20-025 445483 5512006 324 377 290 -50
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Coordinates are presented in UTM NAD83 Zone 16N.
Technical discussion
The CRK Zone, which was trenched and exposed in 2019, two distinct styles of
mineralization: an early, likely syn -volcanic, zinc-dominant hydrothermal system,
termed the Ishkoday -style mineralization; and a later, gold -dominant event that is
linked primarily to later tectonic gold -silver bearing quartz veins, termed the
Sturgeon River -style mineralization. Magnetite is associat ed with the higher -grade
zinc mineralized zones.
Surficial mapping and channel sampling of the trenched CRK outcrop documented
two orientations of Ishkoday -style mineralization including N - and NE -striking.
Sturgeon River-style veins and shear zones cut these early structures and remobilize
and enrich the early Ishkoday-style mineralization.
These two mineralizing systems have been intersected in drill core and were oriented
using Boart/LongyearTM TruCoreTM. The orientation of structures, including veins and
shear zones, was validated with the relative position on drill core of a lower
reference line, measured using alpha and beta (α / ß) angles, and converted into
strike and dip measurements. These measurements, in conjunction with surficial
measurements, were used to plot structures in sections and in 3D.
Reclassification of the Joe and Akhi structures
Ishkoday-style mineralization is generally defined as early (synvolcanic ) polymetallic
veins associated with actinolite and magnetite, whereas Sturgeon River style veins
are late gold and silver -bearing quartz veins and shear zones that cut the earlier
mineralization. On surface, the north-trending Joe and northeast-trending Akhi veins
host gold, silver, copper and zinc ( Figure 1). At depth in hole LME20-025, gold and
zinc mineralization in the Joe vein do not occur together and gold mineralization
occurs in a shear zone. Along trend of the Akhi vein to the northeast, the styl e of
mineralization changes from sheared actinolite/magnetite to a rotated and shear -
hosted quartz vein at the Sturgeon granitoid contact . In both cases, these
mineralized structures, although likely initially formed as Ishkoday-style, synvolcanic,
polymetallic veins, are reclassified as shear zones.
This distinction is important for the following reasons:
Reactivated structures are subject to metal enrichment
Shear zones may increase in width or grade, especially at rock contacts
Shear zones have the potential to intersect pre -existing veins, increasing total
width of mineralization
Qualified Person
Mr. David Lewis, P. Geo. (PGO), LAURION ’s Exploration Manager, is a Qualified
Person as defined by National Instrument 43 -101 and has reviewed and approved
the content of this news release.
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Channel samples are individually cut, perpendicular to mineralization, using a
double-bladed saw to specific lengths. Samples are cut to approximately 5 cm
width and 10 cm depth, with individual samples weighing approximately 1.5 to 4 kg.
Channel samples are inserted into individual plastic bags, labelled and containing
unique sample tags, and sealed. Aluminum tags with the sample tag information are
inserted at the beginning of each channel sample cut. Collected field data includes
sample number, channel azimuth, sample length, rock type and GPS UTM
coordinates. Samples are catalogued and industry -standard Quality
Assurance/Quality Control (QA/QC) samples are added, including standards,
duplicates and blanks, in a pre -established order. Samples are then sealed in nylon
bags and shipped by LAURION personnel to the ALS facility in Thunder Bay, Ontario.
All core and channel samples have been assayed by ALS La boratories in Thunder
Bay, Ontario. Samples are processed by 4 -acid digestion and analyzed by fire assay
on 50 g pulps and ICP -AES (Inductively -Coupled-Plasma – Atomic-Element-
Spectroscopy). Over limit analyses are reprocessed with gravimetric finish.
About LAURION Mineral Exploration Inc.
The Corporation is a junior mineral exploration and development company listed on
the TSX-V under the symbol LME and on the OTCPINK under the symbol LMEFF. The
Corporation currently has 19 8,718,522 outstanding shares, of which approximately
71% of LAURION’s issued and outstanding shares 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% own ed
mid-stage 47 km 2 Ishkoday Project, and its gold -silver and gold -rich polymetallic
mineralization with a significant upside poten tial. The mine ralization on Ishkoday is
open at depth beyond the current core -drilling limit of -200 m from surface, based
on the historical mining to a -685 m depth, in the past producing Sturgeon River
Mine. The recently acquired Brenbar Property, which is contiguous with the Ishkoday
Property, hosts the historic Brenbar Mine and LAURION believes that the
mineralization to be a direct extension of mineralization from the Ishkoday Property.
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 and
condition, and managem ent'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 materia lly 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
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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, del ays 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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