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TORONTO, April 30, 2019 /CNW/ - LAURION Mineral
Exploration Inc. (TSX.V: LME) and (OTCPINK: LMEFF)
("LAURION" or the "Corporation") is pleased to announce results
of the Corporation's initial construction of the litho-structural
predictive model (the "Model") at the Corporation's
wholly-owned Ishkoday Gold-Polymetallic Project
("Ishkoday"). LAURION's work to date has interpreted the
presence of the new structural corridor: the 5km wide gold bearing
Ishkoday Deformation Zone ("IDZ").
Additional predictive modeling will be performed by Mira
Geoscience ("Mira") of Montreal (Quebec), who will generate a
comprehensive 3-D image of the shear/deformation zones in and
around Ishkoday, local faults, lithologies, and areas of potential
enhanced quartz vein and sulphide development to concentre gold,
silver, copper and zinc. The 3D model will incorporate LAURION's
project-wide database of 40,729m of
diamond drilling, 14,992 individual samples with assays and
geochemical analysis, geological mapping and ground geophysical
data. This 3D inversion model will provide a comprehensive end
product, which will serve as the basis for effective
exploration program decisions and drill targeting.
The Ishkoday Deformation Zone
LAURION has identified a new shear/deformation zone on Ishkoday,
an apparent new splay from the Paint Lake Shear/Deformation Zone
(the "PLDZ"). The new Break is similar to the PLDZ, and to other
gold bearing deformation zones such as in the Abitibi Greenstone
Belt: the Destor Porcupine ("DPDZ") and Cadillac Larder Lake
Deformation Zone ("CLLDZ"), which host major gold deposits.
This major kilometric long and wide northeast-southwest
structural corridor encompasses most of the known precious and base
metal mineralization at Ishkoday of the main 3km by 1km Target Area
(refer to the Corporation's news releases dated December 4, 2018 and February 14, 2019). Mineralization is open
along strike to the east-northeast and west-southwest; and is open
at depth down-plunge beyond 650m as
indicated from the historic Sturgeon River Mine development and
production.
Confidence in the model is demonstrated by the presence and
abundance of surface exposed mineralized shears and
multi-directional gold-bearing quartz veins/stockworks with
local sulphide development (pyrite, chalcopyrite and sphalerite).
The structurally hosted gold mineralization is primarily associated
with more than 120 centimeter to meter wide quartz veins trending
north to northeast, extend 100's to 1,000's meters in length,
intersect all lithologies, including older vein-type copper-zinc
mineralization.
Quartz veins, their extent and patterns mimic other lode gold
deposits in the Abitibi Greenstone Belt, as at the
Canadian-Malartic, Sigma-Lamaque, Dome, Detour,
Bousquet-Doyon-LaRonde deposits.
For the purposes of the LAURION Model, the new
shear/deformation zones of the Onaman outside of the Break are the
Northwind, Fairview and Onaman
"Breaks". Ishkoday occurs on the southernmost "Breaks", the
Sturgeon River Break, where there are at least two additional
subsidiary shear/deformation zones giving an overall 5 km width to
the combined IDZ. The proximity of the PLDZ to the IDZ
suggest a splitting of the former into multiple east-west to
northeast-southwest shears at Ishkoday, giving the Ishkoday
Deformation Zone. The presence of multiple shears and movement
within the Break would significantly fracture the brittle felsic
volcanic package at Ishkoday, allowing for the development of the
observed quartz veins with gold-sulphides.
For further information on the Ishkoday model, please refer to
the LAURION website -
http://laurion.ca/ishkoday-project/geology/ishkoday-model/
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 143,630,084 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-Polymetallic Project containing a
significant upside potential.
LAURION's current exploration is focussed on Ishkoday's near
term potential of major near surface mineral resources in both gold
and base metals based on the network of un-developed quartz veins
similar to those observed at other gold deposits in the immediate
region and in other greenstone belts.
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.
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 outlined 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.
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.