LAURION Provides Exploration Update and Announces Discovery of New Mineralized Outcrop
Page 1
LAURION Provides Exploration Update and Announces Discovery of
New Mineralized Outcrop
TORONTO, ONTARIO – August 10, 2021) – Laurion Mineral Exploration Inc. (TSX.V: LME and
OTCPINK: LMEFF) (“LAURION” or the “Corporation”) is pleased to announce the following
update on its exploration program of 2021at the Ishkoday Property:
Highlights:
Trenching and stripping exposed 4 new mineralized areas of interest: The A Zone,
the Niish and Garvey Zone and a new zone, the Pond, located near the McLeod
prospect.
New mineralized lenses of semi -massive sulfide s were stripped on the A -Zone.
Further assays are pending.
A new mineralized zone of 4 sub-parallel veins, called ‘The Pond’ has also been
exposed. These veins are part of the McLeod mineralized system, which is hosted in
a sequence of felsic-intermediate volcanic and strikes N215 with a 70 dip to the
South. Mineralization can be found in 4 distinct sub-parallel veins which are 20m
apart and are composed of brecciated quartz with disseminated fine pyrite (up to
15%), chalcopyrite and sphalerite. The LiDAR survey shows a possible extension of
more than 400m along strike. Mapping, interpretation, and final assay results are still
pending.
A soil sampling survey has been designed to cover 3 mag netic high anomalies
located north of the Namewaminikan River. The areas show low historical
prospecting, low outcrop density and thick vegetation. The magnetic anomalies
are interpreted to represent a possible extension of the north-south feature
observed in the southern portion of the Property. Historic grab samples from this
area produced anomalous values (0.082 g/t Au, 11.9 g/t Ag and 0.89% Cu and
0.356 g/t Au, 37.6 g/t Ag and 1.52% Cu) for both base and precious metal in
exposed trenching.
A LiDAR survey was conducted at the end of May over the entire property. This high
precision laser imaging survey provide d Laurion with a high -definition digital
elevation model (DEM) . The new DEM model is key in the interpretation of the
structural feature on the property. Historical trenches are also evident on the survey
Page 2
and are a iding the geological team in the further expansion of already known
mineralized zones.
The 10,000m 2021 diamond drill program has been paused due to the current forest
fire hazards (see press release from July 21 st, 2021). Of the initial of 6,079 meters of
drilling completed to date , assay results for 4,758 meters of drilling have been
received and highlights are shown in Table 1 below.
Exploration drilling in 2021 started with the objective of defining the mineralized system
along a strike extension of 1. 25 km from the A -Zone, (Behzik Zone) 2020 Niish discovery
zone to the McLeod Zone. Preliminary observations and results confirmed the
existence of an extension of the new Niish structure 850m to the northeast in drill
hole LBX21-032. Drill ing confirmed the extension at depth of the Behzik zone at
around 410m below surface level as well of its steep dip to the northwest.
The initial drill holes targeted unexplored areas to depths , approximately 650m from
surface, across the 1. 25 km strike to investigate the geometry and grade distribution of
the greater Niish and Behzik zone . The drilling was also conducted with the object ive of
understanding the litho-structural model and define the mineralized system as seen in
historic (1980s and 1990s) and LAURION (2012 to 2020) drilling , which intersected
significant grades and widths of gold and base metal mineralization.
Highlights from the 7 initial exploratory holes:
Hole ID From To
Core
Length* Au g/t Ag g/t Cu % Zn % AuEq
LBX21-032 206.20 228.80 22.60 0.01 0.81 0.02 0.60 0.36
286.00 293.70 7.70 0.08 3.12 0.09 1.39 0.97
653.50 655.30 1.80 0.44 13.30 0.13 5.08 3.42
LBX21-033 359.70 361.50 1.80 1.95 4.27 0.22 1.15 2.96
492.00 494.90 2.90 0.37 8.53 0.26 1.01 1.43
LBX21-034 131.10 133.00 1.90 1.55 9.47 0.07 2.26 2.94
150.40 153.40 3.00 0.34 4.52 0.10 1.42 1.28
304.30 312.70 8.40 0.15 2.34 0.05 1.19 0.86
LBX21-035 423.40 432.40 9.00 1.50 10.63 0.33 1.04 2.71
429.20 432.40 3.20 4.13 26.20 0.90 2.22 7.07
LBX21-036 108.00 109.00 1.00 3.94 1.30 0.00 0.01 3.97
438.80 441.90 3.10 0.93 15.80 0.43 0.81 2.26
512.50 515.80 3.30 0.20 3.23 0.10 2.52 1.68
522.30 532.20 9.90 0.03 0.66 0.03 0.56 0.37
LBX21-037 125.00 127.80 2.80 1.73 1.79 0.02 0.07 1.84
416.40 425.60 9.20 0.03 3.69 0.16 1.54 1.11
517.30 532.00 14.70 0.24 0.25 0.00 0.01 0.25
LBX21-038 303.10 306.50 3.40 0.04 3.78 0.09 1.30 0.89
*True thicknesses have yet to be estimated since the 3D modelling of the zones is still pending updates
Page 3
Table 2: Drill hole coordinates for holes LBX21-032 to LBX21-039. (UTM NAD83 Zone 16N)
Hole ID Azimuth Dip Length Easting Northing Elevation
LBX21-032 126 -50 725 446400.4 5513397.7 319.8
LBX21-033 306 -50 644 446611.6 5512751.5 323.2
LBX21-034 263 -54 350 446779.3 5513212.1 326.5
LBX21-035 126 -50 800 445840.3 5512815.8 325.0
LBX21-036 126 -50 705.8 445794.9 5512667.7 326.0
LBX21-037 310 -50 604 446123.6 5512450.0 329.0
LBX21-038 307 -51 459 446066.5 5512430.8 330.7
LBX21-039 307 -52 467 446122.0 5512588.7 321.5
Exploration for Remainder of 2021:
The remaining 3,550m of drilling will focus on in-fill drilling the areas between the A Zone
and McLeod Zone as well as the extension of the McLeod to the southwest, which in turn
could extend the A-Zone/McLeod strike length to over 1.4 km.
The McLeod southwest extension hosts encouraging historical surface trenching results
and a magnetic high anomaly and an associated IP chargeability high date as seen in
Figure 1 showing mineralized interval based on 3m over 0.5 g/t AuEq. No drilling has been
conducted in this area todate.
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 233,473,342 outstanding shares of which approximately 79% 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, hosts the historic Brenbar Mine.
LAURION believes the mineralization to be a direct extension of mineralization from the
Ishkoday Property.
Page 4
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 forw ard-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 th e 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
mining industry, delays in obtaining governmental approvals or financing or in the completi on 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.
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.