LAURION Commences Joint Evaluation with DRA Americas Inc. on Ore Sorting Technology and Economic Studies to Monetize Assets at Ishkoday
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LAURION Commences Joint Evaluation with DRA Americas Inc. on
Ore Sorting Technology and Economic Studies to Monetize Assets at
Ishkoday
TORONTO, ONTARIO (September 20, 202 2) – LAURION Mineral Exploration Inc. (TSX.V:
LME and OTCPINK: LMEFF) (“ LAURION” or the “Corporation”) , is pleased to announce
that it is jointly studying with DRA Americas Inc. (“DRA”) the potential application of ore
sorting technology to monetize th e available material through recovery of contained
gold within the stockpiles and/or existing shaft at the Corporation’s wholly -owned
Ishkoday Project (“ Ishkoday” or “ Project”), which is located 220 km northeast of
Thunder Bay, Ontario.
LAURION is currently in discussions with DRA to potentially provide consulting and
engineering services to develop the stockpile and shaft based project. It is currently
contemplated that , pursuant to such an engagement, DRA would conduct all the
techno-economic studies and also manage any additional metallurgical test-work that
may be required. The planned studies in regards to the Project would be stage-gated
with the goal of producing a final Feasibility Study. Further details of any engagement
with DRA will be provided when available.
DRA Global Limited (ASX : DRA | JSE: DRA) (“DRA Global ”) 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 proje ct 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.
LAURION’s objective for the Ishkoday is to initia te development and production, as well
as to continue exploration of the Ishkoday, implementing a phased and strategic
approach to achieve these target objectives.
LAURION has recently completed the Baseline Environmental Studies through Blue
Heron Soluti ons (“ Blue Heron ”). Blue Heron commenced the permitting work and
baseline studies in 2018.
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.
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A legacy stockpile of approximately 190,000 tons grading 1.59g/t , was stacked
adjacent to the mine shaft and the low grade tailings pile of 137,501 tonnes grading
0.67 g/t gold, deposited from the historic mining is located north of the legacy stockpile,
based on a 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 on SEDAR . (See the Technical Report and the Corporation’s news
release dated April 23, 2013.)
The Sturgeon River Mine Corridor is approximately 1.8 km by 350m. The compilation and
synthesis of the of the No. 3 Quartz Vein and adjacent veins, suggest that the 1937 to
1942 mining from near surface to -642 m vertical depth not only covered the N -S
trending No. 3 Quartz Vein, but also 5 additional quartz veins, most of which trend NE -
SW. (See the Corporation’s news release dated March 17, 2020.)
The 3 Vein encompass 12 individual veins, Nos. 1A, 1B, 2, 3, 3A to 3E, Coniagas and
No’s. 8/11 gold bearing vein sets in a corridor extending some 750m in length by 375m
wide (See the Corporation’s news release dated October 8, 2019). LAURION’s drilling in
2010 intersected several additional quartz veins north of the underground workings.
LAURION is of the opinion that h igher-grade gold-bearing veins (“Shoots”) are present
at the Sturgeon Gold Mine. Mineralization on the 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, as evidenced i n the past producing Sturgeon River Mine . ( See the
Corporation’s news release dated March 17, 2020.)
For more information regarding the Ishkoday, please refer to the Technical Report.
About LAURION Mineral Exploration Inc.
The Corporation is a junior mineral exploration and development company listed on the
TSXV under the symbol LME and on the OTCPINK under the symbol LMEFF. LAURION now
has 254,052,613 outstanding shares of which approximately 8 0% 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 km2 Ishkoday Project, and its gold -silver and gold -rich polymetallic
mineralization with a significant upside potential. The mineralization 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
Brenbar Property, which was acquired in 2020 and is contiguous with the Ishkoday
Property, hosts the historic Brenbar Mine. LAURION believes 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
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Tel: 1-705-788-9186
Fax: 1-705-805-9256
Website: http://www.LAURION .ca
Follow us on Twitter: @LAURION_LME
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 , and any potential
future arrangements and engagements with DRA and/or its affiliates . 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 cu rrent 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 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.
NEITHER THE TSX VENTURE EXCHANGE N OR 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.