Laurion Initiates SONIC Drill Program on the Surface Stockpile of the Ishkoday Gold Project
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Laurion Initiates SONIC Drill Program on the Surface Stockpile of 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 (September 5, 2018) - Laurion Mineral Exploration Inc. (TSX.V: LME)
and (OTCPINK: LMEFF) (“Laurion” or the “Corporation”) is pleased to announce the
commencement of a SONIC drill program on its surface rock “waste” Stockpile (the
“Stockpile”) from the historic operation of th e Sturgeon River Mine at the Corporation’s
wholly owned Ishkoday Gold Project (“Ishk oday”). The SONIC drill will complete a
planned 180 metres of drilling, each hole being approximately 4 to 16 metres deep. The
objective of the SONIC drill program is to complete additional test work to complement
the 2010 assay and metallurgical testing.
Each of the SONIC drill holes has been plotted strategically to sample the inner core of
the Stockpile, and will drill to a maximum of 1.5m below the base of the Stockpile. Laurion
wants to ascertain a greater confidence level in the gold grade of the Stockpile, as it
hosts a significant amount of fines material. The fines material (<2mm) from the sampling
work completed in 2010 carried average values of 6.20 g/t gold, as outlined in a
technical report issued in 2013 (Resources Estimate on the Sturgeon River Waste Pile and
Tailings, Ishkoday Property, by GeoV ector Management Inc., June 7, 2013 ; the “ 2013
Technical Report”). The 2013 Technical Report concluded the potential for higher-grade
gold values existed at the base of the tailings where gold would have accumulated from
gravity settling of the Stockpile.
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. It was reported in 1984, that a bulk sample
extracted at that time from the Stockpile by front-end loader returned an average of
2.95 g/t gold which suggested the potential for 11,000 to 12,000 ounces of gold in the
132,000 tons of the Stockpile (Phoenix Gold, 1984). This estimate of contained metal is
historical and does not conform to the curr ent National Instrument 43-101 standards. A
qualified person has not done sufficient work to classify this historical estimate as current
mineral resources or mineral reserves; and Laurion is not treating the historical estimate
as current mineral resources or mineral reserves.
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The Stockpile sampling done in 2010 by Ge oVector Management Inc. (“GeoVector”),
returned an initial range of 0.06 g/t to 10.2 g/t gold for an average grade of 2.83 g/t gold
from eight random 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 using an excavator to dig pits for
acquiring representative samples for gold analysis.
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 by GeoVector to acquire
samples that were representative of rock types and broken rock size. Samples were
collected in 20 litre pails and delivered to Overburden Drilling Management ("ODM") in
Ottawa (Ontario) for processing. Individual sample weight was between 20.8 and 30.7
kg, and total sample weight tested was 1.22 tonnes. The <2mm fraction had the highest
gold grade material 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 high est-grade sample of 32 g/t gold (QSWR-10-
018). The 2013 Technical Report stated the Stockpile contained 144,070 tonnes grading
1.59 g/t gold in the Indicated Mineral Resources category (see the Corporation’s news
release dated April 23, 2013).
Stockpile Permitting Process
Beginning in June Laurion began the data collection requirements for the future permits
required to process the Stockpile. To date three monthly 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 operations have not effected the surface
water quality adjacent or downstream to the Stockpile.
In addition, Laurion has initiated hydrogeologic data collection requirements by the
installation of 10 groundwater monitoring wells at specific locations proximal to the
Stockpile and tailings. Like the surface water sampling the groundwater sampling will
identify any legacy impacts to groundwater.
Laurion’s Stage 2 Exploration Work
Simultaneous with the SONIC Drilling Program on the Stockpile and hydrogeological test
work, the Corporation is also currently ex ecuting the Stage 2 exploration work which
comprises of mechanized and manual outcrop stripping, channel sampling and assaying
along several strategic NW-SE 400m to 500m outcrop stripping lines (the “Lines”) as a first
pass assessment of the bulk polymetallic veins in the Target Area.
One of the Lines will pass 100m to the east of the historic 85-A2 quartz-gold veins, which
is to look at extending some 100m on-strik e the higher gold grade grab and channel
samples, as well as testing a number of previously unexplored sulphide-rich veins located
700m SW of the “CRK” veins sector. Laurion’s previous channel sampling work in 2014 from
the “CRK” Showing yielded typical assay results up to 8m width of 1.08 g/t gold, 4.90 g/t
silver, 1.11% zinc and 0.08% copper, including 5m width of 1.68 g/t gold, 7.00 g/t silver,
1.27% zinc and 0.10% copper.
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It will be essential to determine if most or a selective portion of th e hundreds of quartz
veins identified by previous workers, and now by Laurion, carry gold, and if the gold
mineralization is restricted to certain areas, whether high level intrusives, such as the
porphyry of the Sturgeon River Mine, and/or polymetallic veins and/or structurally more
deformed corridors, as seen in quartz-sericite schists identified in several outcrops of the
3km by 1km Target Area.
As reported in an earlier news release (see the corporation’s news release dated August
14, 2018), of the 322 selective field grab and channel samples taken, 45 were anomalous
in either gold, silver, copper or zinc or any combination of these elements, and most were
located in the southern 3km by 1km Target Area (with a few exceptions). Some 33 assay
results were >0.30 g/t gold and 6 were >18 g/t gold. All are in quartz veins with the highest
values located in channel samples with Visible Gold from the 85-A2 yielding 40.80, 43.00
and 1,185.00 g/t gold. However, two selective gr ab samples were not. One is located in
a chlorite-sericite schist with trace pyrite yielding 27.50 g/t gold; and a second, in a
porphyry with 1% pyrite gave 28.40 g/t gold. These selected samples may not necessarily
be representative of the mineralization hosted on Ishkoday.
Field observations to date, based on the work in the SE 3km by 1km Target Area, indicates
a NE-SW trending and extensive quartz and polymetallic vein system hosting the precious
and base metals mineralization. Further explor ation fieldwork is required to confirm the
lateral and cross-strike continuity of the mineralization, and to determine if a bulk tonnage
resources model still makes sense. Once confirmed and a geology-mineralization model
is built in 2D, Laurion would initiate diamond drilling to prove the model in 3-D as part of
the Stage 3 program.
Quality Assurance and Quality Control (“QA-QC”)
(A) 2010 Stockpile Samples
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.
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(B) 2018 Field Samples
A total of 322 field samples were taken from Ishkoday: 82 channel samples from the Jack
quartz-sericite-chlorite-sulphide schists and the 85-A2 quartz vein, and 240 selective grab
samples from the quartz veins of the northe rn claims and both quartz and polymetallic
veins from the southern claim blocks. An addi tional 26 standards, blanks and duplicates
were added for QA-QC, for a total of 348 analyzed samples. Individual field samples were
taken by prospectors and geologists, and inserted in individual plastic bags, each with
ALS sample tags. Samples were checked, catalogued and bags sealed by the Senior
Project Geologist, then placed in large numbered nylon bags with standards, blanks and
duplicates. The bags were then sealed and transported by Explo-Logik employees to the
ALS facilities in Val-d’Or for gold and multi-element analysis. Once at the ALS facilities,
samples are catalogued with the bar coding system, dried, weighed, crushed, pulverized
to 70% <2mm, and riffle-split sample is taken for final pulverization to 85% <75µm. A final
split is taken for multi-element ICP-AES analysis (gold plus 33 elements) and ore grade
finish on anomalous results in gold, silver, copper and zinc).
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 whic h 54% are owned and controlled by Insiders
and within the ‘friends and family’ category.
The Corporation’s emphasis is on the development of its flagship project, the 100% owned
mid-stage 47 km 2 Ishkoday Project Ishkod ay Project, and its gold-silver and gold-rich
polymetallic mineralization with a significant upside potential.
The Corporation has a property-wide database of 283 diamond drill holes totaling 40,729
m, detailed sampling, mapping, assays and geochemical analysis, and ground
geophysics. The mineralization 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, 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 Ishkod ay 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/
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The Viewer should note that images and photos displayed on these websites show
selected mineralization that may not necessarily be representative of the 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-look ing 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 anticipated, the failure of contracted parties to
perform, labor disputes and other risks of the mini ng 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. Invest ors 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 forward-looking
statements. Subject to applicable law, the Corporation disclaims any obligation to update these
forward-looking statements.