LAURION Announces the Successful Conclusion of its 2023 Exploration Program and the Completion of its Drilling Program
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LAURION Announces the Successful Conclusion of its 2023 Exploration Program
and the Completion of its Drilling Program
TORONTO, ONTARIO - (December 14, 2023) – Laurion Mineral Exploration Inc. (TSX.V: LME
and OTCPINK: LMEFF) (“ LAURION” or the “Corporation”) is pleased to announce that it
has successfully completed the fall diamond drilling program and has thus concluded all
its exploration objectives for its 2023 Exploration Program , which was previously
announced in the Corporation’s press release dated March 15, 2023.
LAURION completed its fall drill program of 3,636 metres in 9 diamond drill holes and was
successful in targeting the northeast and southwest extensions of the Sturgeon River Mine
structure. The key objectives were to target the Number 1, 2 and 3 quartz veins and other
quartz veins and shear structures encountered in the historic mining of the Sturgeon River
Mine.
LAURION has submitted all its drill core for assays to ALS Global Laboratories in Thunder
Bay, Ontario and anticipates results in approximately 3 to 5 weeks after submission, thus
anticipating the last of the drill core results in January 2024.
In 2010, s ix drill holes totaling 3,511 metres of drilling were completed, which were
designed to define the down plunge extent of the Sturgeon River Mine below the 1750 ft
(530m) level below the Sturgeon River Mine workings, resulting in the discovery of 7 new
shear hosted gold zones. (Joseph Campbell – 2011) LAURION drilling in 2010 (LME-10-008,
009 and 010) intersected several additional veins north of the underground workings.
The 2018/2019 channel sampling on the Sturgeon Rive Mine outcrops formed an integral
part of a three-staged 18-month program with the strategic objective of outlining the
precious metals upside potential at Ishkoday. Channel sampling of the No. 3 Vein
established that the 3 Vein is actually a swarm of interconnected, anastomosing quartz
veins oriented in two main directions: one north -south, the other northeast -southwest.
The No. 3 Quartz Vein was mined between 1936 and 1942. Of significance is the strike of
200m in length of the ore grade shoot within the No. 3 Vein at surface, which increases
at depth. At 530m depth, the ore shoot reaches a strike length of 466m. At around 460m,
two other veins intersect the No.3 Vein (No. 10 and the “M” veins). This validates the
suggestion of the potential for this well-mineralized structure to widen along strike and at
depth. Compilations from the 2010 drilling and the 2018/2019 channel sampling the
compilation aided the determination of other potential target shoots for future drilling.
(See the Corporation’s press releases dated August 20, 2019 and December 20, 2019 ,
respectively).
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2024 Objectives
With a strong foundation and increased confidence in the exploration pipeline resulting
from the successful completion of its 2023 E xploration Program, LAURION is planning its
2024 drill program, which is expected to consist of the following:
A two -phase drill program in 2024, consist ing of a winter drill program of
approximately 3,000 metres of diamond drilling, and a fall drill program consisting
of approximately 3,500 metres.
Prospecting, sampling, mapping at Twin Falls, I.P targets on the Brenbar, and the
Maloney-Sturgeon prospects.
Mechanical trenching, power washing, s tripping and channel sampling of
trenches planned to northwest of the Sturgeon River Mine, west of the Brenbar
Mine, northeast of the 801 and the Namewaminikan River and the Twin Falls
Project.
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 263,346,102 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 exploration and development of its flagship project, the
100% owned mid -stage 57 km 2 Ishkoday 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
Steven Hunter - Investor Relations Consultant
Email: [email protected]
Website: http://www.LAURION .ca
Follow us on Twitter: @LAURION_LME
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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 Ishkoday Project, the nature and timing of the results of the Corporation’s exploration
efforts in 2023 , and the nature, focus, timing and potential results of the Corporation’s future
exploration efforts, including its planned activities for the Ishkoday Project in 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 activit ies, changes
in project parametres as plans continue t o 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 annua l 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.