LAURION Releases Initial Assay Results of the 2024 Drilling Program, Confirming the Existing Mineralization Model and Identifying 3 New Mineralized Zones at the Ishkõday Project
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LAURION Releases Initial Assay Results of the 2024 Drilling Program,
Confirming the Existing Mineralization Model and Identifying 3 New
Mineralized Zones at the Ishkõday Project
TORONTO, ONTARIO - (May 1, 2024) – Laurion Mineral Exploration Inc. (TSX.V: LME
and OTCPINK: LMEFF) (“LAURION” or the “Corporation”) is pleased to announce
that it has successfully completed the first three drill holes of its 2024 diamond
drilling program, being drill holes LME24 -041, LME24- 042, and LME24- 043 at the
Ishkõday Project, for which assays are now available.
The aforementioned drill holes were strategically sited 458 metres northeast of the
Sturgeon River Mine Shaft, and constituted the inaugural phase of drilling aimed
at investigating the Sturgeon River Mine structures in an east -to-west orientation.
Employing a vertical fan pattern, LAURION’s primary aim was to intersect the
stacked Sturgeon River mineralized system, al igning with the Corporation’s
commitment to rigorous exploration practices.
The three drill holes were successful in confirming the presence of the seven
known mineralized structures, extending northeast of the historical Sturgeon River
Mine. The intercepts range in length (along core) from 0.5 m to 7.65 m, with grades
up to 4.23 g/t Au. In addition, this drilling, in combination with drilling completed
in 2023 (drill holes LME23, -033, LME23- 034, LME23-035 and LME23-036), also
identified new intermediate structures as part of the stacked mineralized zones.
Further geological modelling will be required to better understand how these new
mineralized zones interplay with the existing model.
Highlights from these drill holes are as follows:
LME24-041
• 0.75 m @2.74 g/t Au from 63.00 m to 63.75 m; and,
• 2.95 m @0.70 g/t Au from 295.85 m to 298.80 m.
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LME24-042
• 5.30 m @0.71 g/t Au from 395.85 m to 401.15 m, including 1.50 m @2.07 g/t
Au 398.30 m to 399.80 m;
• 0.50 m @7.99 g/t Au from 480.55 m to 481.05 m;
• 1.00m @1.39 g/t Au from 498.90 m to 499.90 m;
• 1.20m @2.16 g/t Au from 510.50 m to 511.70 m;
• 4.35 m @1.43 g/t Au from 529.20m to 533.55m; including 0.65 m @7.8 g/t Au
from 529.20 m to 529.85 m;
• 2.45 m @2.03 g/t Au from 660.75 m to 663.20 m: including 0.85 m @5.66 g/t
Au from 660.75 m to 661.60 m; and
• 4.00m @ 0.42 g/t Au from 745.5 m to 749.50 m: including 0.50 m @2.96 g/t
Au from 749.00 m to 749.50 m.
LME24-043
• 7.00 m @ 2.67 g/t Au from162.00 m to 169.00 m; including 2.35 m @ 5.73 g/t
Au from 163.30 m to 165.65 m;
• 0.50 m @ 4.23 g/t Au from 258.90 m to 259.40 m;
• 0.60 m @ 2.80 g/t Au from 316.50 m to 317.10 m; and
• 0.75 m @ 2.25 g/t Au 393.25 m to 394.00 m.
Building upon the successes of the 2023 drill program, particularly within the
Sturgeon River Mine area, LAURION's exploration endeavors have shown promise,
aligning with the characteristics commonly observed in orogenic gold deposits.
The Sturgeon River mineralized system, characterized by the presence of seven
distinct quartz veins and minera lized shear zones, exhibited true widths ranging
from 0.5 metres to 7.95 metres and grades ranging from 0.1 g/t Au to 7.78 g/t Au
(as detailed in press releases dated January 5, January 12, and February 2, 2024).
These notable findings not only validate the geological model but also offer
valuable insights into potential expansion opportunities both north and south of
the Sturgeon River Mine.
This significant milestone marks the commencement of LAURION's exploration
efforts aimed at further delineating the mineral potential of the Ishkõday Project,
situated in the prolific Beardmore-Geraldton Greenstone Belt of Northern Ontario.
The initial dr illing phase, executed with precision and efficiency, underscores
LAURION's commitment to advancing its exploration objectives while maintaining
the highest standards of operational excellence and environmental stewardship.
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Assay Results: Highlights of the Northeastern Sturgeon River Mine Drill Holes LME24-
041, LME24-042, and LME24-043
Hole ID From (m) To (m) Core Length
(m) Au (g/t)
LME24-041 63.00 63.75 0.75 2.74
LME24-041 154.00 155.50 1.50 0.451
LME24-041 258.80 259.40 0.60 0.753
LME24-041 295.85 298.80 2.95 0.701
Including 296.35 297.35 1.00 1.467
LME24-042 33.75 34.25 0.50 0.625
LME24-042 106.05 107.00 0.95 0.392
LME24-042 160.65 161.20 0.55 0.758
LME24-042 197.60 198.15 0.55 0.549
LME24-042 206.75 208.20 1.45 0.872
Including 207.75 208.20 0.45 2.060
LME24-042 363.45 364.00 0.55 0.523
LME24-042 395.85 401.15 5.30 0.709
Including 398.30 399.80 1.50 2.070
LME24-042 422.85 430.50 7.65 0.128
LME24-042 480.55 481.05 0.50 7.990
LME24-042 485.00 485.60 0.60 0.382
LME24-042 498.90 499.90 1.00 1.385
LME24-042 510.50 511.70 1.20 2.163
LME24-042 528.50 530.50 2.00 2.550
Including 529.20 529.85 0.65 7.840
LME24-042 532.50 533.55 1.05 1.073
Including 532.50 533.05 0.55 1.865
LME24-042 576.20 577.35 1.15 0.352
Including 576.85 577.35 0.50 0.622
LME24-042 596.00 596.60 0.60 0.404
LME24-042 650.50 651.00 0.50 0.444
LME24-042 660.75 663.20 2.45 2.032
Including 660.75 661.60 0.85 5.660
LME24-042 745.50 746.00 0.50 0.361
LME24-042 749.00 749.50 0.50 2.960
LME24-042 762.00 762.50 0.50 0.626
LME24-042 764.00 764.75 0.75 0.311
LME24-043 162.00 169.00 7.00 2.667
Including 163.30 168.40 5.10 3.569
Including 163.30 165.65 2.35 5.725
LME24-043 181.95 184.50 2.55 0.128
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Hole ID From (m) To (m) Core Length
(m) Au (g/t)
LME24-043 242.55 243.60 1.05 0.690
LME24-043 243.05 243.60 0.55 1.025
LME24-043 258.90 259.40 0.50 4.230
LME24-043 272.70 274.60 1.90 0.424
Including 273.70 274.60 0.90 0.564
LME24-043 293.80 294.45 0.65 0.474
LME24-043 316.50 317.10 0.60 2.800
LME24-043 335.80 336.30 0.50 0.294
LME24-043 340.50 341.40 0.90 0.768
LME24-043 393.25 394.00 0.75 2.250
LME24-043 401.00 404.00 3.00 0.300
Including 401.00 401.80 0.80 0.832
LME24-043 411.00 413.00 2.00 0.444
Including 412.00 413.00 1.00 0.684
LME24-043 439.00 443.10 4.10 0.126
LME24-043 485.30 486.30 1.00 0.631
LME24-043 485.30 485.80 0.50 0.985
Coordinates for Drill Holes LME24-041, LME24-042, and LME24-043
Hole ID Azimuth Dip Planned (m) Actual (m)
LME24-041 280 -45 300 324
LME24-043 280 -80 500 492
LME24-042 280 -65 800 795
Sampling and QA/QC Protocols
All core was transported and stored inside the core facility located in Beardmore.
LAURION employs an industry standard system of external standards, blanks and
duplicates for all of its sampling, in addition to the QA/QC protocol employed by
the laboratory.
After logging, core samples were identified and then cut in half along core axis in
the same building, and then zip tied individually in plastic sample bags with a bar
code. Approximately five or six of these individual bags were then stacked into a
“rice” white material bag and stored on a skid for final shipment to the laboratory.
All core samples were shipped to the ALS facility in Thunder Bay, which were then
prepared by ALS Global Geochemistry in Thunder Bay and analyzed by ALS
Global Analytical Lab in North Vancouver, British Columbia. Samples are
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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. A total of 5% blanks and 5%
standard are inserted randomly within all samples. 5% of the best assay result pulps
were sent for re-assays. A total of 8.7% blanks and 9.5% standard were randomly
inserted during the pXRF analyse of the soil sampling. 2.8% we re- analyzed. All
QAQC were verified, and no contamination or bias have been observed.
The remaining half of the core, as well as the unsampled core, were stacked on
a skid outside in Beardmore and then transferred to the Sturgeon River Mine site
core farm for final storage.
Qualified Person
The technical contents of this release were reviewed and approved by Jean-
Philippe Paiement, PGeo, MSc, a consultant to LAURION, and a qualified person
as defined by National Instrument 43 -101 – Standards of Disclosure for Mineral
Projects.
About LAURION
The Corporation is a junior mineral exploration and development company listed
on the TSX Venture Exchange under the symbol LME and on the OTC under the
symbol LMEFF. LAURION now has 267,071,735 outstanding shares of which
approximately 72% are owned and controlled by Insiders who are eligible
investors under the “Friends and Family” categories.
LAURION's emphasis is on the exploration and development of its flagship project,
the 100% owned mid -stage 57 .43 km2 Ishkõday Project, and its gold -rich
polymetallic mineralization.
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
Douglas Vass - Investor Relations Consultant
Email: [email protected]
Website: http://www.LAURION .ca
Follow us on Twitter: @LAURION_LME and Instagram laurionmineral
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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 Corporation’s ability to
advance the Ishkõday Project, and the nature, focus, timing and potential results of the
Corporation’s current diamond drilling program and future exploration efforts, including its
planned activities for the Ishkõday Project in 2024. 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 activit ies, changes in project parameters
as plans continue to be refined, future prices of gold and/or other metals, possible va riations 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 o r 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 Corporat ion 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.