LAURION Confirms the Extension of the Sturgeon River Mine Mineralization by 600 Metres to the Northeast With Grade Intercepts as High as 29.45 g/t Au Over 3.5 Metres, Including 186.00 g/t Au Over 0.55 Metres
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LAURION Confirms the Extension of the Sturgeon River Mine
Mineralization by 600 Metres to the Northeast With Grade Intercepts as
High as 29.45 g/t Au Over 3.5 Metres, Including 186.00 g/t Au Over 0.55
Metres
TORONTO, ONTARIO - (January 5, 2024) – Laurion Mineral Exploration Inc. (TSX.V: LME
and OTCPINK: LMEFF) (“LAURION” or the “Corporation”) is pleased to announce the
assay results of the first five diamond drill holes from its Fall 2023 diamond drill program,
which was completed on the Corporation’s Ishkoday Project, located in Ontario, 220
km northeast of Thunder Bay and 28 km northeast of the town of Beardmore.
LAURION recently announced the completion of its Fall drill program of 3,636 metres
in nine diamond drill holes . The primary objective of the first five diamond drill holes
was to target the northeast extension of the Sturgeon River Mine structure . 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 (historically mined) 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 8-11 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 original system was historically defined over a strike length of 450 m.
The drill program targeted the ext ension of the system to the northeast with the
intention of doubling the strike length of the mineralized structures. The results received
to date demonstrate that the system extends on significant strike length and is still
open at depth and along strike. Confirming the extensions of this known structure will
assist with updating the 2-D and 3-D geological mineralization model LAURION, which
should provide a solid technical base to initiate further diamond drilling programs in
this area.
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Drilling Highlights
The results for the five aforementioned diamond drill holes, LBX22-032 to LBX22 -036,
include the following intersection highlights:
Assay Results: Highlights of the Northeastern Sturgeon Rive Mine Drill Holes
Holes ID From
(m)
To
(m)
Core
Length
(m)
Au
(g/t)
LME23-032 172.50 176.00 3.50 29.5
including 172.50 173.05 0.55 186.00
LME23-032 233.75 234.28 0.53 7.78
LME23-032 240.4 240.96 0.56 1.05
LME23-032 243.1 244.76 1.66 3.11
including 243.1 243.72 0.62 8.11
LME23-033 80.5 81.0 0.5 1.64
LME23-033 210 212.55 2.55 1.23
including 210 210.6 0.6 4.35
including 210.6 212.55 1.95 0.27
LME23-033 338.0 338.7 0.7 4.49
LME23-034 70.8 71.4 0.6 1.36
LME23-034 127.8 128.3 0.5 3.26
LME23-034 175.75 177.75 2.0 12.89
LME23-034 176.35 177.75 1.4 17.63
LME23-034 176.35 177 0.65 18.25
LME23-034 227.2 228.2 1.0 0.54
LME23-034 245.5 247 1.5 5.10
LME23-034 245.5 246.4 0.9 7.87
LME23-034 458.3 459.1 0.8 2.71
LME23-035 25.5 26.0 0.5 3.58
LME23-035 289.9 290.4 0.5 1.05
LME23-035 314.25 315.05 0.8 1.38
LME23-035 343.4 344 0.6 1.38
LME23-036 123.75 124.25 0.5 1.79
LME23-036 171.1 172.0 0.9 1.44
LME23-036 214.35 214.9 0.55 1.68
LME23-036 219.05 220.25 1.2 7.38
including 219.75 220.25 0.5 17.5
LME23-036 400.8 401.35 0.55 4.19
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Coordinates for Drill Holes LME23-032 to LME23-036
Drill Hole
Number Azimuth Dip
Planned
(m)
Actual
(m)
LME23-032 150 -45 500 513
LME23-033 115 -45 350 342
LME23-034 115 -60 500 465
LME23-035 90 -45 350 354
LME23-036 90 -60 475 480
TOTAL 2,175 2,154
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.
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 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.
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 mineral 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 Ins iders 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. 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 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 comprisin g 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.