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TORONTO, Nov. 13, 2018
/CNW/ - LAURION Mineral Exploration Inc.
(TSX.V: LME) and (OTCPINK: LMEFF) ("LAURION " or the
"Corporation") is pleased to reports assay results from
systematic channel sampling of the August-September 2018 Program ("Stage 2
Campaign") on the Corporation's Ishkoday Gold Project
("Ishkoday").
Strip Line T18-1
A total of 468 individual channel samples were taken from Line
T18-1, varying in individual length from 20cm to 2.2m. Bedrock outcrop coverage of T18-1 is
approximately 60%. Individual channel sample assay results
("Assays") to date include:
- 120 anomalous gold Assays:
-
- 50 gold Assays between 0.03 g/t and 0.10 g/t gold;
- 53 between 0.10 g/t and 1 g/t gold; and
- 17 above 1 g/t in the range 1.02 g/t gold over 0.2m to 27.70 g/t gold over 0.4m, with the most significant interval of 17.1
g/t gold over 1.5m.
- 121 anomalous silver Assays:
-
- 70 silver Assays between 0.10 g/t and 1 g/t silver; and
- 51 above 1 g/t in the range 1.00 g/t silver over 0.3m to 11.50 g/t silver over 0.3m.
- 3 anomalous copper Assays:
-
- 3 copper Assays between 0.10% and 1% copper.
- 43 anomalous zinc Assays:
-
- 37 zinc Assays between 0.10% and 1% zinc;
- 6 above 1% zinc from 1.03% zinc over 0.6m to 3.80% zinc over 0.8m.
Line T18-1 extends 500m in a NW-SE
direction at right angle to the orientation of geological units and
is located approximately 1km NE of the past producing Sturgeon
River Mine's No. 3 Quartz Vein (Figure 1).
The geology consists of felsic to intermediate volcanic and
intrusive rocks, mostly rhyolite/dacite flows, tuffs and cut by
mafic dykes. Sulphide mineralization (pyrite, chalcopyrite and
sphalerite) occurs in NE-SW trending centimetric and metric shear
zones, in addition to sulphide–rich metric-sized veins similar to
those 700m NE in the "CRK" veins
sector. LAURION's previous channel sampling 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.
The northernmost 140m of Line
T18-1 depicts 8 NE-SW trending quartz veins belonging to either the
"85-A2" or the "A" vein systems. Both vein systems were
historically channel sampled and assayed by Phoenix Gold (1988) as
reported in 1986 Exploration Program Report, Sturgeon River Gold
Mines Property, 34 pages, by L.O. Koskitalo, February 1988. Selected historic gold assay
intervals of the "85-A2" Quartz Vein system (Phoenix Gold,
1988) from Line T18-1 include:
- 13.41 g/t gold over a 168m length
and 19 cm width, including 21.92 g/t gold over a 52m length and 14 cm width and 14.71 g/t gold
over a 50m length and 23cm width;
and
- 20.26 g/t gold (with visible gold or "VG") over a 20m length and 20cm width from the Glory Hole
Quartz Vein.
The quartz veins undulate and form anastomosing patterns as
observed in the "85-A2" vein system, similar to other structurally
hosted lode gold deposits.
Selected historic gold assay intervals of the "A" Quartz Vein
system (Phoenix Gold, 1988) from Line T18-1 include:
- 14.71 g/t gold over a 50m length
and 23cm width ("A-2" Quartz Vein);
- 3.63 g/t gold over a 50m length
and 25cm width ("A-5" Quartz Vein); and
- 6.17 g/t gold over a 20m length
and 95cm width ("A-4" Quartz Vein).
A qualified person has not verified the Phoenix Gold (1988) data
and results from the 85-A2 and "A" Quartz Vein systems; however,
LAURION's 2018 Stage 1 campaign selectively grab sampled the 85-A2
Quartz Vein system yielding 40.80, 43.00 and 1,185.00 g/t gold
(refer to LAURION 's previous news release dated August 14, 2018), attesting to the
prospectivity of the quartz veins.
The Stage 1 stripped area located a few meters SW of the main
"85-A2" Quartz Vein outcrop. Here, current channel sampling
confirmed the gold-bearing potential of the 85-A2 Quartz Vein with
a selected assay result of 18.50 g/t gold over a 20cm width. A
LAURION (2012) selective grab sample yielded 2.86 g/t gold on an
adjacent subsidiary quartz vein.
Strip Line T18-2
A total of 475 individual channel samples were taken from Line
T18-2, varying in individual length from 30cm to 8.5m. Bedrock outcrop coverage of T18-2 is
approximately 80%. Individual Assays to date include:
- 40 anomalous gold Assays
-
- 22 gold Assays between 0.03 and 0.10 g/t gold;
- 17 between 0.10 and 1 g/t gold; and
- 1 above 1 g/t at 1.29 g/t gold over 0.5m.
- 100 anomalous silver Assays:
-
- 55 silver Assays between 0.10 and 1 g/t silver; and
- 45 above 1 g/t in the range 1.10 g/t silver over 1.3m to 9.10 g/t silver over 0.7m.
- 1 anomalous copper Assays:
-
- 1 copper Assays between 0.1% and 1% copper.
- 21 anomalous zinc Assays:
-
- 19 zinc Assays between 0.1% and 1% zinc;
- 2 above 1% zinc, 1.58% zinc over 1.0m and 2.72% zinc over 4.0m.
Strip Line T18-2 is located approximately 350m W-SW of the part producing Sturgeon River
Mine's No. 3 Quartz Vein. Line T18-2 extends 500m in a NW-SE direction at right angle to the
orientation of geological units (Figure 1).
The geology consists of felsic to intermediate volcanic rocks
(fine to coarse tuffs, rhyolite/dacite flows, and several
generations of crosscutting mafic dykes). Sulphide mineralization
(pyrite, chalcopyrite and sphalerite) is rare but increases in
narrow NE-SW and N trending shear zones.
Two major vein sets were identified including the newly
discovered 040° Bootleg Quartz Vein (the "Bootleg") that may be the
SW extension of the "85-A2" Quartz Vein located more than 1km to
the NE.
Additional results such host quartz veins and/or sulphide veins,
composite intervals and location maps are being compiled for both
T18-1 and 2 and will be made available shortly.
Please refer to URL http://www.LAURION .org/2018 for Location
Map of the Stage 2 continuous strip lines T18-1 and T18-2 Location
Map (Figure 1). Refer to LAURION 's
previous news release dated September 25,
2018, as well as additional results from the initial
May-June 2018 Stage 1 Campaign at the
Corporation's 47 km2 Ishkoday Gold Project.
Stage 2 Exploration Campaign Channel Sampling and Assay
Results
The Campaign is centered on mechanized stripping, channel
sampling and assaying along two strategic NW-SE 400m to 500m
outcrop stripping lines (the "Lines") as a first pass
assessment of the bulk polymetallic veins in the 3km by 1km Target
Area. Two lines were completed, T18-1 and 2. Following MNDM
permitting, a mechanized tree cutter or harvester cut and removed
trees along both lines, followed by the mechanized removal of
overburden using a shovel. Bedrock was cleaned using high pressure
water, with water recovered in pits that was re-used for outcrop
washing. Channels were cut using a gas-powered saw. The sampling,
bagging and tagging of rock samples was done by field technicians.
The strip lines were geologically mapped for rock types, structures
and mineralization, by qualified geologists and technicians from
the exploration service provider Explo-Logik Inc.
LAURION's 18-month exploration program, initiated in
May 2018 has the strategic objective
of outlining the bulk precious and base metals upside potential at
Ishkoday. The Campaign follows a successful Stage 1 field
validation work that not only validated precious and base metal
results from a number of selective historic mineralized veins, but
also produced significant selective grab sample assay results in
new areas.
Quality Assurance and Quality Control
A total of 1,692 field samples were taken from the Stages 1 and
2 field exploration programs at the Ishkoday in 2018. All samples
including standards, blanks and duplicates were sent to ALS
laboratory facilities in Thunder
Bay (Ontario) and
Val-d'Or (Quebec) for analytical preparation and
eventually to Vancouver (B.C.)
precious and base metal assays, and whole rock analysis.
Some 322 field samples were taken during Stage 1: 82 channel
samples from the Jack quartz-sericite-chlorite-sulphide schists and
the "85-A2" quartz vein, and 240 selective grab samples from the
quartz veins of the northern claims and both quartz and
polymetallic veins from the southern claim blocks. A total of 468
channel samples were taken during Stage 2 from Line T18-1 and 475
taken from Line T18-2. Each channel sample were saw cut
individually by a technician to lengths chosen by the senior
geologists, ranging from 20cm to 1.5m, 5 to 7 cm widths and 7 to 10cm depths.
Individual sample weights ranged from 5 to 10kg for channel samples
and 1 to 3kg for selective grab samples.
Individual field samples were taken by either field technicians,
prospectors or geologists, and inserted in individual plastic bags,
each with ALS sample tags. Samples were checked, catalogued and
bags sealed by the senior geologist, then placed in large numbered
nylon bags with standards, blanks and duplicates. The bags were
then sealed and transported by Explo-Logik employees to the ALS
facilities. Once at the ALS facilities, 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 split is taken for multi-element ICP-AES analysis
(gold plus 33 elements) and ore grade finish on anomalous results
in gold, silver, copper and zinc.
About LAURION Mineral Exploration Inc.
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 137,965,639 outstanding
shares of which 59.4% 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 Gold Project, and its
gold-silver and gold-rich polymetallic mineralization with a
significant upside potential.
LAURION has collected in excess of 14,000 samples since
2008. These samples included diamond drill core, field channel
and selected field grab samples. Of these, some 10,354 samples have
multi-element analysis (copper, zinc, lead, and partial major and
trace elements) - 8,662 from previous drill core samples (8,582
with gold and silver), and 1,692 current channel and selected field
grabs samples (1,536 with gold and silver).
The Corporation has a property-wide database of 283 diamond
drill holes totaling 40,729 m,
detailed sampling, mapping, assays and geochemical analysis, and
ground geophysics.
Mineralization 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 (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 large 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), LAURION '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 links to photos and images of the Ishkoday Gold Project,
please visit the Corporation's website at URL http://www.LAURION
.ca or LinkedIn at URL
https://www.linkedin.com/in/cynthia-le-sueur-aquin-04b03017/detail/recent-activity/
The Viewer should note that images and photos displayed on these
websites show selected mineralization that may not necessarily be
representative of the mineralization hosted on the Ishkoday Gold
Project.
Follow us on Twitter: @LAURION_LME
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 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
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.
SOURCE Laurion Mineral Exploration Inc.