LAURION’s Latest Drilling Results From 2022 Exploration Campaign Identify a New Orogenic Gold Corridor Associated with the Niish Shear Zone
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LAURION’s Latest Drilling Results From 2022 Exploration Campaign
Identify a New Orogenic Gold Corridor Associated with the Niish
Shear Zone
TORONTO, ONTARIO ( December 8, 2022) – LAURION Mineral Exploration Inc. (TSX.V:
LME and OTCPINK: LMEFF) (“LAURION” or the “Corporation”), is pleased to report results
from recent drilling at it’s wholly -owned Ishkoday gold -polymetallic property (the
“Ishkoday Project”), located in northwestern Ontario, 56 kilometres west of Geraldton,
and just10 kilometres north of the Trans Canada highway No. 11 along Provincial Road
801.
The results for holes LBX22-090 to LBX22-094 complete the assay database for the
Corporation’s 2022 drilling campaign.
Results for five (5) holes were received for a total of 1,926 metres (NQ core) of which
two holes, for a total of 744 metres, were successful at intersecting the depth extension
of the A -Zone polymetallic synvolcanic mineralization (Figure 1). The intercepts
include 1.64 g/t Au and 3.14% Zn over 1m (from 168m to 169m) in hole LBX22-092 and
0.73 g/t Au and 3.1% Zn over 0.71m (226.4m to 227.1m) in hole LBX22-093.
Hole LBX22-090 was drilled to the West of the A -Zone in order to test an interpreted
North trending orogenic structure (Figure 1). Hole LBX22-090A represents the first of two
holes drilled from this location. The drill hole was terminated at a depth of 55 metres,
due to excessively blocky ground; however, it intersected several
stringers/veins/narrow intervals of polymetallic mineralization throughout, the most
significant of which was a 1.08 metres wide (core width) intercept grading 1.35 g/t Au
and 0.62% zinc. Current interpretation supports the existence of North trending
orogenic structures.
Hole LBX22-091 was located nearly 300 metres north of the A -Zone proper This hole
was designed to test a coincident IP chargeability and VTEM anomalies comprising a
northeast-trending feature parallel to and possibly related to the A -Zone and/or
associated, later orogenic -gold mineralized structures. This area had not been
previously tested by LAURION. The hole was drilled toward the southeast to a depth
of 249.00 metres. Near the end of the hole, between 228.5 and 229. 7 metres, the
drillhole intersected 2.83 g/t Au over 1.15 metres; including 0.5 met re at 5.29 g/t Au.
The gold versus base metals content of the observed mineralization appears to be
consistent with later orogenic style gold mineralization as opposed to earlier style
epithermal mineralization.
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LAURION is very pleased with its key exploration milestones achieved in 2022,
validating the 6 km x 2.5 km mineralized corridor and extending the A -Zone to the
McLeod Zone by 400 m to 1.4 km, thereby significantly increasing the gold potential
of the property by identifyi ng this new orogenic mineralization associated with the
Niish Shear Zone.
Key Mineralization Findings in 2022
Through its drilling campaign, mapping program, stripping of outcrop and 3D
modelling, LAURION has gained significant understanding in the miner alization style
and history present at the Ishoday property. The key findings are summarized below.
1. Synvolcanic, Ishkoday style mineralization is associated with the rifting of an
arc-like volcanic sequence, and intrusion of a dioritic dike swarm. Current age
dating sets this mineralization event at ca. 2740-2736 Ma.
2. The Ishkoday polymetallic mineralization consists of base metal sulfide stringers
and gold-silver bearing comb-textured quartz vein networks within the same
faults and fractures as those exploited by the dike swarm.
3. Later, orogenic (or Sturgeon River ) style gold mineralization represents a
mesothermal orogenic system that overprints earlier Ishkoday style
mineralization, consisting primarily of higher grade laminated extensional gold-
bearing quartz veins.
4. The two hydrothermal systems are associated with each other and with the
synvolcanic dike swarm, and is an example of ancestral structural control on
orogenic systems.
Exploration potential for concentrations of gold mineralization of possible economic
significance exists in areas where both earlier and later mineralization is found
overlapping and in close proximity, or where there is a sufficient concentration of
orogenic gold-bearing veins alone.
The newly identi fied (2022 explorat ion) Niish orogenic structure ( Figure1) holds a
significant potential for orogenic mineralization and will be the focuss of the
Corporation’s 2023 exploration campaign. This structure has been identified in several
drillholes on the property and also from surface mapping, as containing extensive
orogenic style alteration. Key intercepts associated with this mineralized corridor
alongs a 3.5 km strike (Figure 2), include:
Hole ID From
(m)
To
(m)
Core Length
(m)
Au
(g/t)
351-018 114.6 116.43 1.83 1.14
LBX22-075 398.4 400.0 1.6 2.79
LBX22-088 128.5 131.5 2.00 2.45
LBX22-085 268.0 269.8 1.8 1.48
LBX20-021 150.1 155.1 4.95 1.34
90-49 227.17 228.08 0.91 6.38
C-28 180.75 183.79 3.04 1.37
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LME10-008 822.5 824.0 1.5 1.16
LME11-023 32.0 33.0 1.0 1.02
351-021 92.66 93.75 1.09 4.80
351-027 231.04 231.95 0.91 9.26
LME11-015 93.9 95.5 2.35 0.94
LBX22-083 237.5 239.0 1.5 1.6
LBX22-068 253.75 254.54 0.79 2.93
Quality Assurance & Quality Control
All samples were analyzed at Actlabs (ISO 9001:2015) in Thunder Bay. Actlabs is an
internationally recognized laboratory that provides geochemical sample
preparation, analytical procedures, and data management solutions. LAURION uses
a quality assurance/quality control (QA/QC) progra m that monitors the chain of
custody of samples and includes the insertion of blanks (5% of the announced results),
duplicates (1.3% of the announced results), and standard reference material (5% of
the announced results) in each batch of samples sent for analysis. Drill core is
photographed, logged, and cut in half with one half retained in a secured location
for verification purposes and one half shipped for analysis. The entire sample is crushed
to 80% passing 2 mm and a riffle split of 250 grams is take n and pulverized to 95%
passing 105 µm (RX1). Samples are analyzed by four-acid digestion/ICP-MS package
for 36 elements (1F2). Additionally, samples are analyzed for Au using a firing assay
from a 50-gram pulp (1A2B-50). Overlimit samples values for zinc (>1%) and Pb (>0.5%)
are re-assayed using a four-acid digestion overlimit method with ICP-AES 9 (8-4 Acid
over limit). No QA/QC issues were noted with the results reported herein.
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 Mineral Exploration Inc.
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 256,069,855 outstanding shares of which approximately 80% 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 significant upside potential.
Since 2003, Laurion has completed multiple exploration surveys on the property,
including prospecting, mapping, geochemical (grab, channel and soil sampling),
ground and airborne geophysical (Mag, IP, VLF -EM), 3D modelling, airborne (LiDAR)
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and drilling surveys; invited experts in geophysics and in economic and structural
geology to visit and review the property; and undertaken a PhD thesis and research
led by Laurentian University and Metal Earth. To date, 419 drill holes for a total of 78,663
m have been drilled on the property, including 43,396 m completed by Laurion from
2010 to 2014 and from 2020 to 2022 and 35,267 m historic drill holes. Most of the drill
holes are closely spaced and concentrated within the A -Zone and McLeod zone,
except for some largely spaced drill holes located along the Ishkoday mineralized
trend.
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, management's objectives, strategies, beliefs and intentions , the Corporation’s
ability to advance the Ishkoday Project and the Corporation’s future exploration campaigns.
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 resul t 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 and exploration campaign parametres as plans
continue to be refined, future prices of gold and/o r 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 additiona l
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 a pplicable 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 RESPONS IBILITY FOR THE
ADEQUACY OR ACCURACY OF THE CONTENT OF THIS NEWS RELEASE.