LAURION Confirms Continuous Sturgeon River Mine Mineralization: Highlights Include 2.23 g/t Au over 8.40 m, including 1.00 m at 15.37 g/t Au at the Ishkõday Project
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LAURION Confirms Continuous Sturgeon River Mine Mineralization:
Highlights Include 2.23 g/t Au over 8.40 m, including 1.00 m at 15.37 g/t
Au at the Ishkõday Project
TORONTO, ONTARIO - (May 23, 2024 ) – Laurion Mineral Exploration Inc. (TSX.V: LME and
OTCPINK: LMEFF) (“LAURION ” or the “Corporation”) is pleased to announce that it has
received the second batch of assay reports from its 2024 diamond drilling program, which
relate to drill holes LME24-044 and LME24 -045 at the Ishkõday Project located 220 km
northeast of Thunder Bay, Ontario.
Drill holes LME24 -044 and LME24 -045 were strategically sited 204 metres and 157 metres
northeast of the Sturgeon River Mine Shaft. These drill holes are part of a phase of drilling
focused on examining the Sturgeon River Mine structures along an east -to-west axis. This
phase of the drilling exploration program follows -up on high- grade intercepts discovered
during the Fall 2023 drill program and aims to test the eastern stratigraphic boundary of the
historic Sturgeon River Mine, aligning with LAURION’s commitment to rigorous exploration
practices.
Drill hole LME24-045 was a short hole (252 m) and was designed specifically to investigate
the mineralization historically mined by targeting the No. 3 vein. The drill hole identified the
known structures east of the Stu rgeon Mine. However, due to ground conditions, this hole
was stopped short of the No.3 vein. Drill hole LME24-044 aimed at the depth extension of the
No.3 vein in the historic working. The drilling was s uccessful in intercept ing all mineralized
structures east of the No.3 vein (see highlights below), together with the No. 3 vein showing
0.50 g/t over 8.95m along core; including 0.5 m @ 2.48 g/t Au from 342.90 m to 343.40 m and
0.50 m @ 3.55 g/t Au from 346.05 m to 346.55 m.
Cynthia Le Sueur-Aquin, President and CEO of LAURION, stated: “The assay results received
so far are highly encouraging in my view , indicating a large mineralized system
approximately 300 m wide and 1,200 m long, open at both depth and along strike. Each
drill hole has provided promising results, supporting our 3D model and the development
potential mineral resources. The Ishkõday Project, with its 57 .43 km² area, offers significant
'blue sky' potential, featuring nume rous unexplored regions. Strategic exploration and
expansion of the mineral footprint are essential for enhancing corporate value. Our field
exploration and targeted drill programs aim to expand resources, thereby strengthening our
asset base and market position.”
The selection of collar placements and orientations was meticulously conducted to ensure
adequate spacing from intercepts identified in neighboring drill holes, notably LME23 -033
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and LME23-034 to the south, as well as LME23 -035 and LME23- 036 to t he north. The 2024
exploration program and its strategic approach was undertaken to thoroughly assess the
mineralized structures at varying depths and inclinations, thereby garnering a
comprehensive understanding of the structural dynamics in play at the Ishkõday Project.
Highlights of drill holes LME24-044 and LME24-045 are as follows:
LME24-044
• 1.90 m @ 0.77 g/t Au from 9.10 m to 11.00 m; including 0.50 m @ 1.26 g/t Au from 9.90
m to 10.40 m;
• 8.40 m @ 2.23 g/t Au from 86.90 m to 95.30 m; including 1.00 m @ 15.37 g/t Au from
86.90 m to 87.90 m;
• 3.00 m @ 0.28 g/t Au from 152.00 m to 155.00 m; including 0.50 m @ 0.69 g/t Au from
152.80 m to 153.30 m;
• 0.60 m @ 0.81 g/t Au 314.90 m to 315.50 m;
• 1.05 m @ 2.47 g/t Au from 319.00 m to 320.05 m; including 0.50 m @ 4.21 g/t Au from
319.55 m to 320.05 m;
• 8.95 m @ 0.50 g/t Au from 337.60 m to 346.55 m; including 0.5 m @ 2.48 g/t Au from
342.90 m to 343.40 m and 0.50 m @ 3.55 g/t Au from 346.05 m to 346.55 m; and
• 0.70 m @ 30.00 g/t Au from 423.00 m to 423.70 m.
LME24-045
• 1.00 m @ 1.28 g/t Au from 51.00 m to 52.00 m;
• 1.00 m @ 0.32 g/t Au from 132.00 m to 133.00 m; and
• 0.50 m @ 0.39 g/t Au from 184.85 m to 185.35 m.
Building upon the successes of the 2023 drill program, particularly within the Sturgeon River
Mine area, LAURION's exploration endeavors have thus far shown great promise as some of
the characteristics observed through these endeavours are also commonly ob served in
orogenic gold deposits. The Sturgeon River mineralized system, characterized by the
presence of seven distinct quartz veins and mineralized shear zones, exhibited true widths
ranging from 0.5 metres to 7.95 metres and grades ranging from 0.1 grams per tonne gold
to 7.78 grams per tonne Au (as detailed in press releases dated January 5, January 12 and
February 2, 2024).
These notable findings not only validate the geological model but also offer valuable
insights into expansion opportunities both north and south of the Sturgeon River Mine. This
significant milestone marks the commencement of LAURION's exploration efforts aimed at
further delineating the mineral potential of the Ishkõday Project, situated north of the prolific
Beardmore-Geraldton Greenstone Belt of Northern Ontario.
This initial drilling phase, executed with precision and efficiency, underscores LAURION's
commitment to advancing its exploration objectives while maintaining the highest
standards of operational excellence and environmental stewardship.
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Assay Results: Highlights of the Northeastern Sturgeon River Mine Drill Holes LME24-044 and
LME24-045
Hole ID From (m) To (m) True Core
Length (m) Au (g/t)
LME24-044 9.10 11.00 1.90 0.772
LME24-044 9.90 10.40 0.50 1.255
LME24-044 86.90 95.30 8.40 2.226
including 86.90 87.90 1.00 15.365
including 92.15 92.65 0.50 5.020
LME24-044 152.00 155.00 3.00 0.284
including 152.80 153.30 0.50 0.694
LME24-044 184.00 185.00 1.00 0.393
LME24-044 188.30 188.90 0.60 0.386
LME24-044 215.50 218.55 3.05 0.439
including 216.20 216.70 0.50 1.335
LME24-044 314.90 315.50 0.60 0.812
LME24-044 319.00 320.05 1.05 2.470
LME24-044 319.55 320.05 0.50 4.210
LME24-044 337.60 344.00 6.40 0.410
including 342.90 344.00 1.10 1.623
LME24-044 346.05 346.55 0.50 3.550
LME24-044 409.30 409.80 0.50 0.398
LME24-044 417.30 417.80 0.50 0.684
LME24-044 423.00 423.70 0.70 30.300
LME24-045 51.00 52.00 1.00 1.275
LME24-045 88.20 94.00 5.80 0.292
including 88.20 88.85 0.65 0.908
LME24-045 115.25 117.70 2.45 0.252
including 115.25 116.00 0.75 0.612
LME24-045 132.00 133.00 1.00 0.321
LME24-045 144.00 145.00 1.00 0.407
LME24-045 155.80 156.30 0.50 0.982
LME24-045 173.00 174.00 1.00 0.358
LME24-045 184.85 185.35 0.50 0.394
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Coordinates for Drill Holes LME24-044 and LME24-045
Hole ID Azimuth Dip Planned (m) Actual (m)
LME24-044 280 -70 300 432
LME24-045 280 -60 250 252
Sampling and QA/QC Protocols
All drill core is transported and stored inside the core facility located at the Ishkõday Project
in Greenstone, Ontario.
LAURION employs an industry standard system of external standards, blanks and duplicates
for all of its sampling, in addition to the QA/QC protocol employed by the laboratory.
After logging, core samples were identified and then cut in half along core axis in the same
building, and then zip tied individually in plastic sample bags with a bar code.
Approximately five or six of these individual bags were then stacked into a “rice” white
material bag and stored on a skid for final shipment to the laboratory.
All core samples were shipped to the ALS facility in Thunder Bay, which were then prepared
by ALS Global Geochemistry in Thunder Bay and analyzed by ALS Global Analytical Lab in
North Vancouver, British Columbia. 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. A total
of 5% blanks and 5% standard are inserted randomly within all samples. 5% of the best assay
result pulps were sent for re-assays. A total of 8.7% blanks and 9.5% standard were randomly
inserted during the pXRF analyse of the soil sampling. 2.8% we re-analyzed. All QAQC were
verified, and no contamination or bias have been observed.
The remaining half of the core, as well as the unsampled core, were stacked on a skid
outside in Beardmore and then transferred to the Sturgeon Mine site core farm for final
storage.
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 267,071,735 outstanding shares of which approximately 72% are owned an d
controlled by Insiders who are eligible investors under the “Friends and Family” categories.
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LAURION's emphasis is on the exploration and development of its flagship project, the 100%
owned mid-stage 57.43 km2 Ishkõday 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
Douglas Vass - Investor Relations Consultant
Email: [email protected]
Website: http://www.LAURION .ca
Follow us on Twitter: @LAURION_LME and Instagram laurionmineral
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 in tentions, the Corporation’s ability to
advance the Ishkõday Project, the nature, focus, timing and potential results of the Corporation’s
current diamond drilling program and future exploration efforts, including its planned activities for the
Ishkõday 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 includin g 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 parameters as plans continue to be refined, future prices of
gold and/or other metal s, 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 documentati on 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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DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE
ADEQUACY OR ACCURACY OF THE CONTENT OF THIS NEWS RELEASE.