LAURION Intersects 28 g/t Gold over 1.1 m and 0.58 g/t Gold, 6.10 g/t Silver, 0.11 % Copper and 1.92 % Zinc over 63.9 m at Ishkoday Project, Ontario THIS NEWS RELEASE IS INTENDED FOR DISTRIBUTION IN CANADA ONLY AND IS NOT
1
LAURION Intersects 28 g/t Gold over 1.1 m and 0.58 g/t Gold, 6.10
g/t Silver, 0.11 % Copper and 1.92 % Zinc over 63.9 m at Ishkoday
Project, Ontario
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 (May 2 9, 2020) – LAURION Mineral Exploration Inc. (TSX.V: LME
and OTCPINK: LMEFF) (“LAURION” or the “Corporation”) is pleased to report ongoing
drill hole assays of its 4,500 m diamond drill campaign (see April 28, 2020 news release)
on its 100% owned Ishkoday property and contiguous Brenbar earn-in option property
(collectively, the "Project"), located 220 km northeast of Thunder Bay, Ontario , near
the town of Beardmore. To date, ten holes totalling 2,476 m have been drilled (LBX20-
001 to -010) and assays for hole LBX20-002, LBX20-003 and LBX20-004 are reported
here. Assay results from the remaining holes are pending.
These three drill holes, in conjunction with hole LBX20 -001 (see May 19, 2020 news
release) were designed to test an area of mineralization known thr ough historic
intercepts. However, these holes were drilled towards the northwest rather than to the
southeast like the vast majority of historic holes in order to test the new structural
model. Significant assay results are presented in Table 1 below. Highlights are:
• 10.34 m of 3.22 g/t gold (Au) including 1.10 m of 28 g/t Au in Hole LBX20-002;
and
• 63.93 m of 0.58 g/t gold, 6.10 g/t silver, 0.11 % copper and 1.92 % zinc in Hole
LBX20-003.
David Lewis, P.Geo. , LAURION Exploration Manager commented : “Our strategy of
drilling in the opposite direction of the nearby historic holes continues to show
encouraging results. We intersected both high grade , gold-bearing veins in hole
LBX20-002, corresponding to surficial veining, and a 60+ m wide zone of lower grade
gold mineralization in hole LBX20-003, which lies at a vertical depth of 95 -145 m. The
change in width of these zinc -bearing zones (Ishkoday-style) is interpreted to be the
result of folding at depth and we are trying to establish the fold plunge before any
follow up drilling.”
The location of these drill h oles, including hole LBX20 -001 ( see May 1 9, 2020 news
release), as well as the associated mineralized intercepts (projected vertically to
surface) is shown in Figure 1. A 3D model showing these intersects relative to compiled
historical drilling is shown in Figure 2 . The hole position and survey information are
presented in Table 2.
2
Previous work in the Project identified two distinct styles of mineralization: a n early,
likely syn -volcanic, zinc-dominant hydrothermal system, termed the Ishkoday -style
mineralization; and a later, gold -dominant event that is linked primarily to later
tectonic gold-silver bearing quartz veins, termed the Sturgeon River -style
mineralization. Magnetite is associated with the higher -grade zinc mineralized zones
and mineralization compares favorably with shaded total magnetic intensity maps
(Figure 3 ). These miner alized horizons dip steeply, meaning the true width of
mineralization is interpreted to be 60% of the intersected widths.
Table 1: Significant Assay Results, Holes LBX20-002 to -004
Hole ID From
(m)
To (m) Width
(m)
Gold
(g/t)
Silver
(g/t)
Copper
(wt%)
Zinc
(wt%)
LBX20-002 124.66 135.00 10.34 3.22 0.72 0.02 0.14
Including 125.90 127.00 1.10 28.0 3.20 0.02 0.47
And 212.00 216.62 4.62 1.41 12.57 0.12 1.59
Including 213.78 216.62 2.84 2.12 12.29 0.16 1.31
LBX20-003 66.50 73.50 7.00 0.42 6.10 0.05 0.15
And 130.85 194.78 63.93 0.58 6.10 0.11 1.92
Including 130.85 147.66 16.81 0.12 2.43 0.05 1.10
Including 147.66 153.97 6.31 0.02 0.27 0.00 0.04
Including 153.97 165.00 11.03 0.35 4.34 0.06 0.87
Including 165.00 181.16 16.16 1.12 16.61 0.27 5.00
Including 181.16 194.78 13.62 0.97 2.28 0.07 1.01
LBX20-004 127.65 130.28 2.63 0.34 8.33 0.13 1.18
And 146 147.04 1.04 0.57 7.40 0.05 1.35
And 167.5 169 1.50 1.18 2.30 0.08 0.75
And 221.7 237.28 15.58 0.12 4.32 0.09 0.34
Note: The zinc-rich zones (Figure 1, 2) dip steeply and the true width of mineralization is estimated at >60%
of the drill hole interval.
Table 2: Collar position, orientation, and depth of diamond drill holes. Coordinates
are presented in UTM NAD83 Zone 16N.
Hole ID Easting (m) Northing (m) Elevation
(m)
Azimuth Dip Depth (m)
LBX20-002 446597 5512898 321 310 -50 228
LBX20-003 446532 5512884 321 310 -50 242
LBX20-004 446571 5512852 321 310 -50 282
Qualified Person
Mr. David Lewis, P. Geo. (PGO), LAURION ’s Exploration Manager, is a Qualified Person
as defined by National Instrument 43 -101 and has reviewed and approved the
content of this news release.
All core samples have been assayed by ALS Laboratories in Thunder Bay, Ontario.
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. LAURION employs an industry
standard QA/QC program i ncluding insertion of blanks, duplicates and standards.
3
Samples are sawn by core saw on site (cut perpendicular to mineralization), with one-
half of the core sent in secure bags to ALS Laboratories.
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 181,125,977 outstanding shares of which approximately 59% 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 km 2 Ishkoday Project, and its gold -silver and gold -rich polymetallic
mineralization with a si gnificant upside potential. Ishkoday has a project -wide
database (2008 to 2019) that includes 307 diamond drill holes totaling 48,879 m,
geological mapping, ground and airborne geophysics, and 21,800 individual samples
with assays and geochemical analysis. 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
recently acquired Brenbar Property, which is co ntiguous with the Ishkoday Property,
hosts the historic Brenbar Mine and LAURION believes that the mineralization to be a
direct extension of mineralization from the Ishkoday Property.
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 ev ents 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 int erpretation 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 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
forward-looking statements. Subject to applicable law, the Corporation disclaims any
obligation to update these forward-looking statements.
4
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.