Laurion Completes SONIC Drilling and Ancillary Work Program on the Surface Stockpile at the Ishkoday Gold Project
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Laurion Completes SONIC Drilling and Ancillary Work Program on the
Surface Stockpile at the Ishkoday Gold Project
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 (October 4, 2018) - Laurion Mineral Exploration Inc. (TSX.V: LME)
and (OTCPINK: LMEFF) (“Laurion” or the “Corporation”) i s p l e a s e d t o a n n o u n c e t h e
completion of a SONIC drilling and ancillary work program on its surface Stockpile (the
“Stockpile”) from the historic operation of the Sturgeon River Mine at the Corporation’s
wholly owned Ishkoday Gold Project (“Ishkoday”).
In addition, Laurion completed other ancillary work related to the Stockpile. The
objective of this program was to complete additional test work to complement the
2010 assay and metallurgical testing as outlined in a previous report titled “ Resource
Estimate on the Sturgeon River Mine Waste Pile and Tailings, Ishkoday Property, by A.
Armitage, P. Geo., and D. Studd, P. Geo., of GeoVector Management Inc., June 2013
(the “2013 Technical Report”), all to ascertain a greater level of confidence in the gold
grade as well as silver, zinc and copper of the Stockpile.
A total of 20 SONIC drill holes were completed on the Stockpile for 185.3m, averaging
9 . 3 m i n a r a n g e o f 3 . 7 m t o 1 5 . 2 m . E a c h o f t h e S O N I C d r i l l h o l e s w a s s t r a t e g i c a l l y
positioned to sample the inner core of the Stockpile to a minimum of 1.5m below the
base of the Stockpile. The Stockpile appea rs to host a significant amount of fines
material. As outlined in the Technical Report, the fines material (<2mm) from the
sampling work completed in 2010 carried aver age values of 6.20 g/t gold, thus showing
a significant potential for higher-grade gold values at the base of the tailings where
gold would have percolated from gravity settling of the Stockpile. As part of this study
to better understand the gravity settling, the laboratory will be directed to sieve and
weigh four specific clasts sizes from samples collected at specific depths to and below
the base of the stockpile, so the material <2 mm can be more accurately qualified and
quantified.
Laurion also commenced the data collectio n requirements for the future permits
required to process the Stockpile. Quarterl y surface water sampling events have been
conducted from locations adjacent to the tailings and Stockpile, upstream and
downstream from the Stockpile. The results to date from these surface water sampling
events indicate that past historical oper ations have not affected the surface water
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quality adjacent or downstream to the Stockpile. In addition, Laurion completed the
first hydrogeologic data collection with the installation of 10 groundwater monitoring
wells at specific locations proximal to the Stockpile and tailings area. Like the surface
water sampling the groundwater sampling will identify any legacy impacts to
groundwater. TBT Engineering Consulting Group (“ TBT”) of Thunder Bay, Ontario,
completed a resurvey of the Stockpile. TBT surveyed the locations of the 20 SONIC drill
holes, top of the Sturgeon River Mine Shaft and 10 groundwater wells. By utilization of
the survey data groundwater elevation, gradie nt, flow direction and flow velocity will
be calculated as part of the hydrogeologi c study. The first round of groundwater
sampling has been completed and the results are expected shortly. Like the surface
water sampling the groundwater sampling will identify any legacy impacts to
groundwater quality.
The previous specific gravity applied to th e block model of the Stockpile was 2.20 t/m 3.
This was a standard engineering estimate for broken and compacted rock. Particle size
distribution influences bulking factor such that a poorly sorted material with a more
uniform gradation tends to exhibit higher bulking factor than well-sorted material with a
distributed gradation covering a range of particle sizes. As a result of leveling of
the Stockpile by Laurion to accommodate the Sonic Drill and the survey work
completed by TBT.
Based on this early work by TBT, the specific gravity of the Stockpile is now believed to
be in the range of 2.20 to 2.40 t/m 3, up from the previous estimate of 2.2 t/m 3 as
outlined in the 2013 Technical Report, within a new volume range between 75,000m 3 to
80,000m3 over an area of 12,000m2 or in the range of 150,000 to 190,000 tonnes, up from
the previous estimate of 144,070 tonnes as st ated in the 2013 Technical Report. At this
time, the potential quantity is conceptual in nature, that there has been insufficient
exploration to define the quantity and that it is uncertain if further exploration will result
in the target being eventually delineated as a mineral resource. Additional specific
gravity, volume and tonnage refinements will be completed using future exploration
and laboratory work.
Previous Stockpile Sampling Work
The Sturgeon River Mine produced 73,322 ounc es of gold, and 15,929 ounces of silver
between 1936 to1942, at the No. 3 Vein averaging 24 g/t gold. The gold was believed
to be essentially located in white quartz vein material and was reportedly hand sorted
and milled at an average grade of 15.71 g/t gold. Phoenix Gold (1984) reported a
historical grade of 2.95 g/t gold from a bulk sample, giving an indication of the
potential gold grade of the Stockpile.
The 2013 Technical Report outlined Stockpile grades in an initial range of 0.06 g/t to 10.2
g/t gold for an average grade of 2.83 g/t go ld from eight random small bulk samples.
On the basis of these initial encouraging results, Laurion commissioned a
comprehensive program to accurately determine the location and volume of the
Stockpile, and to sample the Stockpile usin g an excavator to dig pits for acquiring
representative samples for gold analysis.
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A total of 30 pits were excavated and 46 selective samples were collected, with
deeper pits (maximum 5.2 meters deep) providing 2 or 3 selective samples at
successively deeper levels. Sampling of the excavated material was carried out to
acquire samples that were representative of rock types and broken rock size. Samples
were collected in 20 litre pails for processing. Individual sample weights were between
20.8 and 30.7 kg, and the total sample weight tested was 1.22 tonnes. The <2mm
fraction had the highest gold grade materi al averaging 6.20 g/t gold, and all samples
in this size fraction had assays greater than 1.75 g/t gold. The coarsest > 63 mm fraction
had highly erratic values of nugget gold, and also contained the highest-grade sample
of 32 g/t gold (QSWR-10-018).
The 2013 Technical Report stated the resource estimate for the low grade stockpile is
144,070 tonnes grading 1.59 g/t gold for 7, 383 contained ounces of gold in the
Indicated category. The resource estimate for the low grade tails is 137,501 tonnes
grading 0.67 g/t gold for 2,944 contained ounces of gold in the Indicated category.
Total Indicated mineral resources for both deposits totals 281,571 tonnes grading 1.14
g/t gold for 10,327 contained ounces of gold (see the Corporation’s news release
dated April 23, 2013).
Quality Assurance and Quality Control (“QA-QC”)
All samples from the 2010 waste pile program were delivered by GeoVector
Management Inc. personnel to the Activation Laboratories ("Actlabs") facility in
Geraldton. Actlabs is an ISO/IEC 17025 accredited analytical laboratory and is
independent of Laurion. At Actlabs samples were analyzed by fire assay with AA finish.
Any high grade samples over 3,000 ppb gold were further treated to fire assay with
gravimetric finish to determine a final gold grade.
Sampling of the excavated material was ca rried out by GeoVector to acquire samples
that were representative of rock type and broken rock size. Samples were collected in
20 litre pails and delivered to Overburden Drilling Management ("ODM") in Ottawa,
Ontario. ODM sorted the individual samples into 4 fractions of <2mm, 2 to 16mmm, 16 to
63mm and >63mm. The size fractions from the samples were sent by ODM to Actlabs
and they were analyzed by the Fire Assay Method with an Atomic Absorption Finish.
Any high grade samples over 3,000 ppb gold were further treated with a Gravimetric
Finish to determine a final gold grade.
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. Laurion now has
137,965,639 outstanding shares of which 59.4% are owned and con trolled by Insiders and
within the ‘friends and family’ category.
The Corporation’s emphasis is on the development of its flagshi p project, the 100% owned mid-
stage 47 km 2 Ishkoday Project Ishkoday Project, and its gold-silver and gol d-rich polymetallic
mineralization with a significant upside potential.
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The Corporation has a property-wide database of 283 diamond dri ll holes totaling 40,729 m,
detailed sampling, mapping, assays and geochemical analysis, an d ground geophysics. The
mineralization is open at depth beyond the current core-drillin g limit of -200 m from surface,
based on the historical mining to a -685 m depth, as evidenced in the past producing Sturgeon
River Mine (the “Mine”).
Mr. Jean Lafleur, P. Geo. (APGO, OGQ), Laurion’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
For links to photos and images of the Ishkoday Project, please visit the Corporation’s website at
URL http://www.laurion.ca or LinkedIn at URL https://www.linkedin.com/in/cynthia-le-sueur-
aquin-04b03017/detail/recent-activity/
The Viewer should note that images and photos displayed on thes e websites show selected
mineralization that may not necessarily be representative of th e mineralization hosted on the
Ishkoday Gold Project.
Follow us on Twitter: @Laurion_LME
Caution Regarding Forward-Looking Information
This press release contains forward-looking stat ements, 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 press
release, including without limitation, the timing, completion and future results of the
Corporation’s exploration program at Ishkoday. 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 tradin g 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 publicly filed documents. Investors should consult the
Corporation’s ongoing quarterly and annual fi lings, 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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NEWS RELEASE.