LAURION Confirms the Extension of the Sturgeon River Mine Mineralization by 320 Metres to the Southeast with Grade Intercepts as High as 3.088 g/t Au Over 7.5 Metres, Including 36.0 g/t Au Over 0.5 Metres and Including 9.0 g/t Au Over 0.65 Metres
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LAURION Confirms the Extension of the Sturgeon River Mine
Mineralization by 320 Metres to the Southeast with Grade Intercepts as
High as 3.088 g/t Au Over 7.5 Metres, Including 36.0 g/t Au Over 0.5
Metres and Including 9.0 g/t Au Over 0.65 Metres
TORONTO, ONTARIO - (January 12, 2024) – Laurion Mineral Exploration Inc. (TSX.V: LME
and OTCPINK: LMEFF) (“LAURION” or the “Corporation”) is pleased to announce the
assay results from the final four diamond drill holes of its Fall 2023 diamond drill
program, which was completed on the Corporation’s Ishkoday Project. The Project is
located in Ontario, 220 km northeast of Thunder Bay and 28 km northeast of the town
of Beardmore.
On December 14, 2023, LAURION announced the completion of its Fall drill program,
totalling 3,636 metres and comprising nine diamond drill holes . Five of the nine
diamond drill holes aimed to target the northeast extension of the Sturgeon River Mine
structure while these final four holes targeted the extension of the mine’s structure to
the southeast. For the assay results from the first five diamond drill holes of the drill
program, please see the Corporation’s press release dated January 5, 2024, which is
available on SEDAR+ at www.sedarplus.ca.
The Sturgeon River Mine mineralization system comprises the Number 1, 2 and 3 (main)
quartz veins, as well as other quartz veins a nd shear structures encountered in the
historic mining of the Sturgeon River Mine. The Number 3 quartz v ein was mined
between 1936 and 1942.
The Number 3 quartz v ein consists of anastomosing quartz veins oriented north-
northeast and steeply dipping to the southeast. The mineralized system also comprises
other mineralized structures, such as the Numbers 1 and 2 quartz veins, Coniagas and
Numbers 1, 8, 10,11,14 and M quartz veins (the “3 Vein Quartz Vein System or 3QVS”)
along with additional secondary (for now) quartz veins and shears of different sizes
and trends.
The 2023 drill program targeted the extension of the system to the northeast and the
southeast with the intention of doubling the strike length of the mineralized structures.
The results for all drill holes confirm that the mineralization is still open on strike and at
depth.
Upon receiving the most recent results, LAURION ’s geology team will update the
current exploration 3D model and begin planning for the next phases of exploration
drilling.
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Drilling Highlights
The results from the four aforementioned diamond drill holes, LME22-037 to LME22-040,
include the following intersection highlights:
Assay Results: Highlights of the southwestern Sturgeon Rive Mine Drill Holes
Coordinates for Drill Holes LME23-037 to LME23-040
Drill Hole
Number Azimuth Dip
Planned
(m)
Actual
(m)
LME23-037 115 -45 275 276
LME23-038 115 -60 375 360
LME23-039 115 -45 325 330
LME23-040 115 -60 525 525
TOTAL 3,675 3,645
Sampling and QA/QC Protocols
All core was transported and stored inside the core facility located in Beardmore.
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.
Holes ID From
(m)
To
(m)
Core Length
(m)
Au
(g/t)
LME23-037 79.70 80.60 0.90 1.435
LME23-037 209.60 211.20 1.60 1.243
LME23-037 220.90 222.50 1.60 6.347
including 221.90 222.50 0.60 16.700
LME23-038 46.00 46.90 0.90 1.585
LME23-038 246.93 247.75 0.82 3.530
LME23-038 319.65 321.65 2.00 1.652
including 319.65 320.40 0.75 2.420
including 320.90 321.65 0.75 1.965
LME23-038 340.40 340.90 0.50 2.950
LME23-040 383.90 391.85 7.95 3.610
including 384.45 384.95 0.50 36.600
including 385.45 391.85 6.40 1.585
including 389.30 391.85 2.55 3.054
LME23-040 502.25 502.85 0.60 1.060
LME23-040 513.00 513.93 0.93 4.430
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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 Glob al 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 al l 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.
Potential Disposition of Shares by a Director
LAURION would also like to disclose that one of its directors, Michael Burmi, has
informed the Corporation that he intends to sell a minority portion of his common
shares in LAURION for personal and financial planning purposes. This expected
transaction do es not signal Michael’s views regarding the future prospects of the
Corporation as he plans to still continue to hold a material equity interest in the
Corporation following his anticipated disposition of shares. As is the case with most
officers and direc tors who hold shares in their publicly traded companies, Michael
intends to review his shareholdings in the Corporation on a continuing basis and may
determine to buy or sell additional securities depending upon personal financial
matters, market conditions and other factors considered relevant from time to time.
Notwithstanding the foregoing, Michael, the other directors, and management of
LAURION remain committed to LAURION’s business plan and delivering value for all
stakeholders and shareholders. Led by the Corporation’s President, Chief Executive
Officer and largest shareholder, Cynthia Le Sueur-Aquin, the directors and officers of
LAURION continue to hold in the aggregate a significant portion of LAURION’s
outstanding shares. For more information about the holdings of LAURION’s reporting
insiders, please see the System for Electronic Disclosure by Insiders (SEDI) (available at
www.sedi.ca).
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 Mineral Exploration Inc.
The Corporation is a junior miner al exploration and development company listed on
the TSXV under the symbol LME and on the OTC under the symbol LMEFF. LAURION
now has 263,346,102 outstanding shares of which approximately 72% are owned and
controlled by Insiders who are eligible investors under the “Friends and Family ”
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categories.
LAURION's emphasis is on the exploration and development of its flagship project, the
100% owned mid -stage 57.43 km2 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
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 drill results and
highlights described in this press release and the interpretation and expected impact of these results and highlights,
the nature, timing and potential results of the Corporation’s future exploration efforts and drill programs, including its
planned activities for the Ishkoday Project in 2024 , an d statements regarding Michael Burmi’s continued equity
holdings in LAURION and the timing and number of LAURION shares that he may sell and/or acquire in the future. 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 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 anti cipated, 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 uncer tainties 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.