LAURION Continues to Intersect Mineralization in the 2021 Drilling Campaign, including 0.80 g/t Au, 5.12 g/t Ag, 0.06% Cu and 1.07% Zn over 14.4 Metres (Drill Hole LBX21-054)
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LAURION Continues to Intersect Mineralization in the 2021 Drilling
Campaign, including 0.80 g/t Au, 5.12 g/t Ag, 0.06% Cu and 1.07% Zn
over 14.4 Metres (Drill Hole LBX21-054)
TORONTO, ONTARIO – November 17, 2021) – LAURION Mineral Exploration Inc. (TSX.V: LME
and OTCPINK: LMEFF) (“LAURION” or the “Corporation”), is pleased to announce the final
analytical results for the 2021 diamond drilling program on the Ishkoday Property, located
220 km northeast of Thunder Bay. The 2021 drill campaign focused on testing the strike
continuity between the A-Zone and McLeod mineralized areas.
Highlights of current drill hole results include:
- 0.80 g/t Au, 5.12 g/t Ag, 1.07% Zn over 14.40m on hole LBX21 -054 between 105.2
and 119.6m.
- 0.37 g/t Au , 3.03 g/t Ag, 0. 05% Cu and 0.99% Zn over 1 1.0m on hole LBX21 -048
between 156.0 and 167.0m.
- The A-Zone and McLeod mineralized areas are interpreted to constitute the same
mineralized system.
The 2021 drilling campaign was completed with a total of 8,930 m (initially 10,000 m were
planned). Current assay results continue to confirm the presence of volcanogenic
mineralization, with significant width and continuity a t shallow depth s (up to 150 m
vertically) over the 1.4 km strike length corridor between the A-Zone and the McLeod
area. Exploration hole LBX21-055 results, indicate a possible new mineralized zone to the
southwest of McLoed located between the McLeod and the CRK Zones, which could
signify an even greater strike length of the total mineralized system.
A plan map of the drill holes, current mineralization and interpreted zones related to both
gold and polymetallic veins is presented in Figure 1.
Diamond Drilling Results:
On September 26 th, the 2021 drill program at the Ishkoday Property was completed. All
results of the last nine holes are now available with analytical results of eight (8) diamond
drill holes confirming the presence of gold mineralization along strike between the A-Zone
and McLeod areas.
As previously stated in press release dated September 30th, 2021, mineralization occurs in
a series of intermediate to felsic volcanic units cut by diorit ic d ykes. Much of the
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mineralization is hosted in pervasive pyrite -sphalerite-quartz-carbonate stockworks and
veins, with some massive sulphide zones. Massive sulphide zones appear to be the result
of remobilization and concentrat ion at the junction of a regional orogenic shear zone
and the polymetallic volcanogenic system. It is currently interpreted that t he junctions
could represent possible ore shoots, containing higher grades and widths in precious and
base metals. These intersections can be observed in both the A-Zone and McLeod/Pond
outcrops as stated in Laurion’s press release from August 10th ,2021.
Drill hole LBX21-055 revealed a potential continuity of the mineralization at depth and to
the south-west of the main A -Zone / McLeod corridor. Between 368-376.8m (for 8.8m), a
diorite breccia with strong sericite alteration and silicification, with up to 7% chalcopyrite,
5% pyrite and 5% sphalerite were noted. This area is directly along strike to the Niish Zone
and shows strong similarities to the 2020 drill hole LBX20-031, and 2021 drill holes LBX21-035
through -039 intercepts. A 3D exploration model with follow up drilling will be completed
in the area to confirm potential continuity.
Between 441.1 m and 444.9 m (3.5 m) in hole LBX21 -055, a 30 cm wide quartz vein with
fractured filled chlorite and pyrite stringer appears to lie adjacent to the McLeod quartz
vein, and from 464.3 m to 472.7 m (8.4 m) a strong silicified mineralized breccia, with up
to 10% chalcopyrite, 2-4% pyrite and magnetite is interpreted as the A-Zone.
Table 1: Selected Best Results from Diamond Drilling Linking the Mineralized Zone Between
McLeod Zone and A-Zone:
Hole ID From (m) To (m) Length (m) Au g/t Ag g/t Cu % Zn % Zone
LBX21-048 112.00 113.00 1.00 9.12 5.50
And 156.00 167.00 11.00 0.37 3.03 0.05 0.99 A-Zone
And 172.00 181.50 9.50 0.21 1.88 0.02 0.44 A-Zone
LBX21-049 167.00 196.50 29.50 0.15 2.08 0.04 0.25 A-Zone
LBX21-051 187.20 194.40 7.20 0.51 5.54 0.10 0.86 A-Zone
LBX21-054 61.30 80.80 19.50 0.28 0.96 0.01 0.24
And 105.20 119.60 14.40 0.80 5.12 0.06 1.07 A-Zone
LBX21-055 368.00 376.80 8.80 0.31 8.43 0.28 0.30 New Zone?
And 441.40 444.90 3.50 0.53 McLeod Vein
And 464.30 472.70 8.40 0.17 12.87 0.51 0.24 A-Zone?
Note: At this time the true width of the mineralized interval is unknown. Hole LBX21-050 was stopped before getting to the
main corridor due a rod jam.
Since the discovery of the McLeod Zone, there has been very little exploration conducted
in the swamp area between both the interpreted similar McLeod Zone and the A-Zone.
Based on L AURION’s recent exploration results, th e sector between the A -Zone and
McLeod was prioritized for the second phase of the 2021 drilling campaign . Results from
holes LBX21-045 through LBX21-054 helped in confirming the continuity along strike
between both areas. These results combined with the discovery of two historical trenches
south-west of McLeod Zone indicate that the polymetallic mineralized system remains
open in all directions.
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Table 2: Drill hole coordinates for drill holes LBX21-048 to -055.
QAQC
All core samples have been assayed by ALS Laboratories in Thunder Bay, Ontario.
Samples are processed by 4 -acid digestion with ICP-AES finish for base metals and
analyzed by fire assay on 50 g pulps with ICP-AES finish. Over limit analyses are
reprocessed with gravimetric finish. A total of 5% blanks and 5% standard are inserted
randomly within all samples. The sample pulps from five percent of the best assays will be
submitted for re-analysis. No issue have been noted in the QAQC results from this batch
of results.
Qualified Person
The technical information in this news release has been prepared in accordance with
Canadian regulatory requirements and has been reviewed and approved by Jean
Philippe Paiement, PGeo., MSc., a consultant to LAURION, and a "qualified person" within
the meaning of National Instrument 43-101.
About LAURION
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 242,565,353 outstanding shares of which approximately 81% 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,
acquired in 2020, is contiguous with the Ishkoday Property, and hosts the historic Brenbar
Mine. LAURION believes the mineralization to be a direct extension of mineralization from
the Ishkoday Property.
Hole ID Azimuth Dip Length
(m) Easting Northing
Elevation
(m)
LBX21-048 108 -50 200 446335.5 5512791.1 322.0
LBX21-049 108 -50 245 446299.8 5512821.4 323.0
LBX21-050 108 -65 193 446299.4 5512821.6 323.0
LBX21-051 90 -50 275 446299.8 5512822.1 323.1
LBX21-052 108 -50 202 446265.9 5512647.1 323.4
LBX21-053 108 -50 160 446331.5 5512653.4 323.3
LBX21-054 108 -65 202 446331.8 5512653.4 323.4
LBX21-055 90 -50 654 445727.0 5512340.0 323.0
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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
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, and management's objectives, strategies, beliefs and intentions. 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 re fined, 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 forwar d-looking statements. Subject to applicable law, the
Corporation disclaims any obligation to update these forward-looking statements.
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ADEQUACY OR ACCURACY OF THE CONTENT OF THIS NEWS RELEASE.