Laurion Provides Mid-Year Review and Outlook for Remainder of 2018
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Laurion Provides Mid-Year Review and Outlook for Remainder of 2018
NOT FOR DISTRIBUTION TO UNITED STATES NEWS SERVICES OR DISSEMINATION.
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 (August 1, 2018) - Laurion Mineral Exploration Inc. (TSX.V: LME) and
(OTCPINK: LMEFF) (“Laurion” or the “Corporation”) is pleased to issu e a further update
and summary of exploration developments an d progress made during Q2-2018, and
outline upcoming plans and projected milestones for the remainder of the year for the
Corporation’s 47 km2 Ishkoday Project (“Ishkoday”).
Ms. Cynthia Le Sueur-Aquin, President and CEO of Laurion, stated “ The new
exploration work to ascertain the bulk gold and gold/base metal upside potential at
Ishkoday commenced in May of this year - the first of an 18 month three-staged
program. Evidence to date, based on the work in the 3km by 1km SE portion of
Ishkoday, the Target Area, indicates a NE-SW trending and extensive quartz and
polymetallic vein system as host to the gold and gold/base metals mineralization.
Additional field work 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-mineralizatio n model is built in 2D, Laurion would
initiate diamond drilling to prove the model in 3-D.”
The initial field validation exploration pr ogram consisted of selective geological
mapping and prospecting of hi storic mineralized veins and their extensions, and in
new areas. New mineralized occurrences were manually stripped, cleaned and
mapped. Grab and whenever possible deep channel samples were taken for gold
and multi-element analysis.
Assay and geochemical results will be released in early August.
Field prospecting and mapping identified two mu lti-kilometric sectors within the Target
Area, the historic “85-A” and “M arge-F” quartz veins sectors ( Figures 1 and 2 ). Both
contain abundant multi-directional and anas tomosing quartz veins. Historic assay
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results from Phoenix Gold (1988) showed sign ificant gold mineralizat ion in quartz veins
at surface: 17.62 g/t gold with Visible Gold over a 36cm width along a strike length of
314m (“Marge” Vein; Photo 1*); 21m of 30.72 g/t gold over 25cm width (“F” Vein); 23.41
g/t gold over a 18cm width along a strike length of 13m (“A-2” Vein); and 20.26 g/t
gold over a 19cm width along a st rike length of 21m (“85-A2” Vein; Photo 2 *). The
assay results are historical and a qualifie d person has not verified the data. The
information may only be an indication of the potential mineralization on Ishkoday.
The “85-A” Vein sector defines a minimum 1,500m long by 500m wide corridor ( Figures
3 and 4) containing:
56 centimeter to meter wide quartz veins, one of which, the “A-2” Vein is multi-
kilometric long:
o The “85-A2” Vein shows interconnected 045° and 020° oriented quartz
veining forming anastomosing stockworks
6 polymetallic-sulphide veins ( Figure 5 ; Photos 3 * and 4 *) of various metric
lengths and widths believed to be cent ered on “volcanic vents”, associated
with:
o Mafic and felsic dykes:
o Lenses of silicification and quartz veining;
o Granodiorite-diorite porphyries, rhyolite and rhyodacite (brecciated)
flows and tuffs;
o Secondary brecciation;
o Chlorite alteration as veins; and
o Sphalerite, chalcopyrite, galena, magnetite, gold and silver
o Laurion’s previous work in 2014 from the “CRK” Showing yielded typical
assay results of:
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
Quartz-sericite-chlorite-sulphide schist s , s u c h a s a t t h e J a c k S h o w i n g (Figure 6 ;
Photo 5*)
It will be essential to determine if most or a selective portion of the hundreds of quartz
veins identified by previous workers, and no w 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, such as in quartz-sericite schists as identified in several outcrops of
the Target Area.
The planned work to be initiated later in Q3 -2018, as part of if the Second Stage work,
will include manual outcrop stripping, cha nnel sampling and assaying along several
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strategic NW-SE 400m to 500m outcrop stripp ing lines (the “Lines”) as a first pass
assessment of the bulk gold-quartz and gold -polymetallic (copper-zinc) veins in the
Target Area.
For links to Figures 1 to 6 and Photos 1 to 5* please see URL http://www.laurion.org/2018
accessed on the Corporation’s website at http://www.laurion.ca or Laurion.org
* The photos show selected mineralization that may not necessarily be representative
of the mineralization hosted on the Ishkoday Gold Project.
About Laurion Mineral Exploration Inc.
The Corporation is a junior mineral explor ation and development company listed on
the TSX-V under the symbol LME and on the OTCPINK under the symbol LMEFF. Laurion
now has 132,046,939 outstanding shares of which 56.04% 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 Ishkoday Project, and it s gold-silver and gold-rich polymetallic
mineralization with a significant upside potential.
The Corporation has a property-wide databa se of 283 diamond drill holes totaling
40,729 m, detailed sampling, mapping, assa ys and geochemical analysis, and ground
geophysics. The mineralization is open at de pth beyond the current core drilling limit
of -200 m from surface, based on the hi storical mining to a -685 m depth, as
evidenced in the past producing Sturge on River Mine (the “Mine”). The Mine
produced 73,322 ounces of gold, and 15,929 ounces of silver from 1936 to1942 on the
No. 3 Vein at 24 g/t gold, and generated a la rge gold and silver bearing stockpile of
144,070 tonnes grading 1.59 g/t gold in the Indicated Mineral Resources category
(based on a NI 43 -101 Technical Report filed on SEDAR in June 2013 – refer to the
Corporation’s news release dated April 23, 2013).
Mr. Jean Lafleur, P. Geo. (APGO, OGQ), La urion’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
Connect with Laurion on LinkedIn: http://ca.linkedin.com/pub/cynthia-le-sueur-aquin/17/30/4b
Follow us on Twitter: @Laurion_LME
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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 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-looking statements involve ri sks 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 pe rform, 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.