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Laurion Announces the First Assay Results From the "CRK" Sulphide Veins at Ishkoday

12.09.2019  |  CNW
  • Veins yielded up to 1m @ 9.66 g/t gold, 14.6 g/t silver, 2.09% zinc, 0.30% copper in a single sample, and a composite interval of two samples giving 1.78m @ 4.34 g/t gold, 27.02 g/t silver, 4.27% zinc, 0.28% copper

/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, Sept. 12, 2019 -  Laurion Mineral Exploration Inc. (TSX.V: LME) and (OTCPINK: LMEFF) ("LAURION" or the "Corporation") is pleased to provide new gold, silver, zinc and copper assay results from the 2019 field exploration program (the "Stage 2 Campaign") at the Corporation's wholly-owned Ishkoday Project ("Ishkoday") located 220 km northeast of Thunder Bay (Ontario). The Stage 2 Campaign forms part of the 2018-2019 exploration initiated in May 2018 as a three-staged 18-month program with the strategic objective of outlining the precious and base metals upside potential at Ishkoday, part of the now 5 km by 1 km Target Area (the "Target Area") of the southern claims block (refer to the Corporation's 2019 news releases dated June 14, July 17, August 1, August 7 and August 20).

First CRK Assay Results

Selected outcrop stripping and surface channel sampling (refer below to the QAQC Protocols for detailed methodologies) over a 450m long segment of the northeast-southwest Loki Sulphide Veins Trend at the CRK Zone has outlined multiple centimeter to meter wide zinc and copper sulphide veins (sphalerite, chalcopyrite). The first individual channel sample assay results from the multiple sulphide veins and the A-2 Quartz Vein of the 30m by 20m CRK West stripped outcrop #37 are summarized as follows:

SAMPLE #

ROCK TYPE

LENGTH (m)

GOLD (g/t)

SILVER (g/t)

ZINC (%)

COPPER (%)

867816

3

0.40

0.49

7.6

2.52

0.17

867817

2

(A-2 QUARTZ VEIN)

0.30

2.28

11.6

3.57

0.33

867818

3, 1

0.72

0.51

4.5

1.34

0.06

1.78m @ 4.34 g/t gold, 27.02 g/t, 4.27% zinc, 0.28% copper

867822

1

0.69

5.59

46.8

5.09

0.34

867823

1

1.09

3.55

14.5

3.75

0.25

867837

1

0.47

3.09

18.9

1.48

0.44

867838

4

0.57

1.49

7.7

3.13

0.13

867841

3

0.30

2.72

6.7

2.44

0.14

867847

2

(A-2 QUARTZ VEIN)

0.21

1.21

8.8

1.05

0.11

867848

1

0.81

3.09

20.7

1.19

0.35

867849

5

0.92

4.96

7.6

0.37

0.09

867851

5

0.31

0.55

6.2

5.24

0.16

867852

5

0.98

1.59

11.1

1.24

0.23

867859

5

0.80

1.43

6.6

0.80

0.06

867873

5

1.10

2.21

4.9

0.89

0.13

867877

1

1.00

9.66

14.6

2.09

0.30

867880

2

(A-2 QUARTZ VEIN)

1.00

1.77

0.6

0.01

0.02

Notes:


1.

Legend: 1 – Sulphide Vein; 2 – A-2 Quartz Vein; 3 – Shear; 4 – chlorite-actinolite-magnetite-sulphide vein/shear; 5 – Host brecciated diorite

 

LAURION's diamond drill hole LME14-031 (445591E/5512014N, 100°/-50°, 98m) intersected the same sulphide veins sampled at surface at a vertical depth between 30-35m from surface yielding 0.75 to 1m core lengths (70-75% real widths) of 0.09 to 39.50 g/t gold, 0.7 to 14.7 g/t silver, 0.03 to 1.28% zinc and 0.02 to 0.16% copper. Surface channel samples of the A-2 Quartz Vein at this location gave 2.28 g/t gold over 0.3m (Sample 867817), 1.21 g/t gold over 0.21m (Sample 867847), and 1.77 g/t gold over 1.0m (Sample 867880); whereas it yielded 0.20 g/t over 1.2m in LME14-031.

Ishkoday is an outlier of predominantly diorite/granodiorite plutons and dykes that were intersected by stringer and massive sulphide veins containing gold, silver, zinc and copper sulphides. Additional gold-rich lode quartz veins were emplaced cut by chlorite-actinolite-magnetite-sulphide bearing veins/shears. All these vein sets extend 100's to 1,000's of meters in lengths, occurring as multiple individual sinuous and anastomosing centimeter to meter wide veins, and forming corridors several hundred meters in width.

Quartz veins hosts high grade gold grades as was recently reported by LAURION on the No. 3 Quartz Vein South (refer to the Corporation's news release dated August 20, 2019) that included in-vein composite interval assays of 47.61 g/t gold over 7.95m (sample line 5-L26P), 92.58 g/t gold over 12.98m (sample line 5-L27P), 79.64 g/t gold over 4.18m (sample line 5-L28P) and 14.85 g/t gold over 9.45m (sample line 5-L29P).

Stage 2 Campaign Update

Details of the completed stripping, channel sampling and rehabilitation work of the Stage 2 Campaign are compiled in the following table.

STRIPPED AREA

STAGE 2 CAMPAIGN TASKS1

MECHANIZED

OUTCROP

STRIPPING

POWER

WASHING

CHANNEL

SAWING

CHANNEL

SAMPLING,

MEASUREMENTS

STRIPPED

AREA

REHABILITATION

2018

TR18-1

85-A2 QUARTZ VEINS

2018

2018

2018

2018, 2019

(570 SAMPLES)

2019

(2,635 m2)

TR18-2

BOOTLEG QUARTZ VEIN

2018

2018

2018

2018, 2019

(475 SAMPLES)

2019

(385 m2)

2019

TR18-3

M24 QUARTZ VEIN

2019

2019

2019

2019

(232 SAMPLES)

2019

(2,205m2)

TR19-1

NOS. 1-2-3, 8/11

QUARTZ VEINS

2019

2019

2019

2019

(780 SAMPLES)

2019, 2020

(910m2)

TR19-2

CRK SULPHIDE VEINS,

NO. 2 QUARTZ VEIN

2019

2019

2019

2019

(2,777 SAMPLES)

2020

TR19-3

MARGE-"F"-"X"

QUARTZ VEINS

2019

2019

2020

2019

(41 GRAB SAMPLES)

2020

TR19-4

M25 QUARTZ VEIN

2019

2019

2020

2019

(36 GRAB SAMPLES)

2020

TR19-5

A9, NOS. 8/11

QUARTZ VEINS

2019

2019

2020

2019

(GRAB SAMPLING IN PROGRESS)

2020

1 Dates shown define when work was completed or expected to be done. Assay results are pending for TR19-2 to 5 and some portions of TR19-1, as well as Metallic Screening results for TR18-3 on the M24 Quartz Vein. 

 

The scheduled airborne drone magnetic survey with low altitude photos was completed in August. The survey results along with the drill core re-logging exercise will standardize rock units and their contacts, structures, sulphide-magnetite veins and define litho-structural domains. LAURION is presently focussed on adding to and updating the leading-edge Ishkoday database for geological and eventual mineral resources modelling.

Confirming the extensions of known and new gold bearing quartz and polymetallic sulphide veins is the priority of the Stage 2 Campaign and will ultimately facilitate in completing the construction of the 2-D and 3-D geological-mineralization model (the "Model"). This Model will presents LAURION with a solid technical base to initiate diamond drilling to prove the upside potential as part of the Stage 3 program to commence in Q4-2019-2020. LAURION's work continues to confirm the extensive quartz and sulphide veining across the Target Area. The field portion of the Stage 2 Campaign is slated for completion by the end of Q3-2019.

Refer to Figures 1 to 4 on LAURION's website using the following link:
http://laurion.ca/ishkoday-project/highlights/2019-field-exploration-program/   
Figure 1. Mechanized Stripping Sectors from the 5km by 1km Target Area
Figure 2. Ishkoday Project Location Map
Figure 3. Target Area Magnetic Map with Previous and Stage 2 Campaign Work
Figure 4. Target Area Longitudinal Section

QAQC Protocols

Assay samples from this program are being processed by ALS Global Geochemistry in Thunder Bay, Ontario, and analyzed by ALS Global Analytical Lab in North Vancouver, BC, using the Fire Assay method of analysis. LAURION employs an industry standard system of external standards, blanks and duplicates for all its sampling in addition to the QA/QC protocol employed by the laboratory.

Each surface outcrop channel sample was individually cut using a double-blade saw by a field technician to lengths chosen by the geologists, to an approximate width of 5cm and 10cm depth. Up to 3 saws were used. Individual channel samples weighed from 5 to 10kg. Each channel was sampled by supervised field technicians, and inserted in individual plastic bags, each with ALS sample tags, then sealed on-site. Metal tags with the ALS sample number were inserted at the beginning of each sample channel cut and are used during the field mapping of individual channel sample cuts. The field data gathered includes sample number, azimuth of channels, sample lengths, geology and geo-reference using UTM coordinates.

Individual plastic sample bags were then catalogued and inserted in large nylon bags along with standards, blanks and duplicates in a pre-established sequence. The nylon bags were then sealed and transported by LAURION technicians to the ALS facility in Thunder Bay, Ontario. Once at ALS, individual samples were catalogued using the bar coding system, dried, weighed, crushed, pulverized to 70% <2mm, and riffle-split for final pulverization to 85% <75µm. A final 50 gram pulp split was taken for Fire Assay using Au-ICP22 gold analysis up to 10,000 ppb gold. Samples giving results beyond 10,000 ppb gold are re-analyzed with a new 50 gram pulp split to ore grade levels using a gravimetric finish. Sulphide vein samples were also analyzed using the ICP61 multi-element analysis.

Qualified Person

Mr. Jean Lafleur, P. Geo. (PGO, OGQ), LAURION's Technical Advisor to the Board of Directors, is a Qualified Person as defined by National Instrument 43-101 rules and standards has reviewed and approved the content of this news release.

About Laurion

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 164,173,091 outstanding common shares of which 58.8% 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 44 km2 Ishkoday Project, and its gold-silver and gold-rich polymetallic mineralization with a significant upside potential. The Ishkoday Project has a project-wide database (2008 to 2018) that includes 283 diamond drill holes totaling 40,729 m, geological mapping, ground geophysics, and 14,992 individual samples with assays and geochemical analysis. The mineralization on the 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, as evidenced in the past producing Sturgeon River Mine.

Caution Regarding Forward-Looking Information

This news 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, future plans for the development of the Corporation and/or the Ishkoday Gold Project, 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 the trading price of the Common Shares, 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 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.

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.

SOURCE Laurion Mineral Exploration Inc.



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
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