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TORONTO, Oct. 4, 2018 /CNW/ - Laurion Mineral
Exploration Inc. (TSX.V: LME) and (OTCPINK: LMEFF) ("Laurion" or
the "Corporation") is pleased to announce the completion of a
SONIC drilling and ancillary work program on its surface Stockpile
(the "Stockpile") from the historic operation of the
Sturgeon River Mine at the Corporation's wholly owned Ishkoday Gold
Project ("Ishkoday").
In addition, Laurion completed other ancillary work related to
the Stockpile. The objective of this program was to complete
additional test work to complement the 2010 assay and metallurgical
testing as outlined in a previous report titled "Resource
Estimate on the Sturgeon River Mine Waste Pile and Tailings,
Ishkoday Property, by A. Armitage, P. Geo., and D. Studd, P. Geo.,
of GeoVector Management Inc., June
2013 (the "2013 Technical Report"), all to
ascertain a greater level of confidence in the gold grade as well
as silver, zinc and copper of the Stockpile.
A total of 20 SONIC drill holes were completed on the Stockpile
for 185.3m, averaging 9.3m in a range of 3.7m to 15.2 m.
Each of the SONIC drill holes was strategically positioned to
sample the inner core of the Stockpile to a minimum of 1.5m below the base of the Stockpile. The
Stockpile appears to host a significant amount of fines material.
As outlined in the Technical Report, the fines material (<2mm)
from the sampling work completed in 2010 carried average values of
6.20 g/t gold, thus showing a significant potential for
higher-grade gold values at the base of the tailings where gold
would have percolated from gravity settling of the Stockpile. As
part of this study to better understand the gravity settling, the
laboratory will be directed to sieve and weigh four specific clasts
sizes from samples collected at specific depths to and below the
base of the stockpile, so the material <2 mm can be more
accurately qualified and quantified.
Laurion also commenced the data collection requirements for the
future permits required to process the Stockpile. Quarterly surface
water sampling events have been conducted from locations adjacent
to the tailings and Stockpile, upstream and downstream from the
Stockpile. The results to date from these surface water sampling
events indicate that past historical operations have not affected
the surface water quality adjacent or downstream to the Stockpile.
In addition, Laurion completed the first hydrogeologic data
collection with the installation of 10 groundwater monitoring wells
at specific locations proximal to the Stockpile and tailings area.
Like the surface water sampling the groundwater sampling will
identify any legacy impacts to groundwater. TBT Engineering
Consulting Group ("TBT") of Thunder Bay, Ontario, completed a resurvey of
the Stockpile. TBT surveyed the locations of the 20 SONIC drill
holes, top of the Sturgeon River Mine Shaft and 10 groundwater
wells. By utilization of the survey data groundwater elevation,
gradient, flow direction and flow velocity will be calculated as
part of the hydrogeologic study. The first round of groundwater
sampling has been completed and the results are expected shortly.
Like the surface water sampling the groundwater sampling will
identify any legacy impacts to groundwater quality.
The previous specific gravity applied to the block model of the
Stockpile was 2.20 t/m3. This was a standard engineering
estimate for broken and compacted rock. Particle size
distribution influences bulking factor such that a poorly sorted
material with a more uniform gradation tends to exhibit higher
bulking factor than well-sorted material with a distributed
gradation covering a range of particle sizes. As a result
of leveling of the Stockpile by Laurion to accommodate
the Sonic Drill and the survey work completed by TBT.
Based on this early work by TBT, the specific gravity of the
Stockpile is now believed to be in the range of 2.20 to 2.40
t/m3, up from the previous estimate of 2.2
t/m3 as outlined in the 2013 Technical Report, within a
new volume range between 75,000m3 to 80,000m3 over an area of 12,000m2 or in the range of 150,000 to
190,000 tonnes, up from the previous estimate of 144,070 tonnes as
stated in the 2013 Technical Report. At this time, the potential
quantity is conceptual in nature, that there has been insufficient
exploration to define the quantity and that it is uncertain if
further exploration will result in the target being eventually
delineated as a mineral resource. Additional specific gravity,
volume and tonnage refinements will be completed using future
exploration and laboratory work.
Previous Stockpile Sampling Work
The Sturgeon River Mine produced 73,322 ounces of gold, and
15,929 ounces of silver between 1936 to1942, at the No. 3 Vein
averaging 24 g/t gold. The gold was believed to be essentially
located in white quartz vein material and was reportedly hand
sorted and milled at an average grade of 15.71 g/t gold. Phoenix
Gold (1984) reported a historical grade of 2.95 g/t gold from a
bulk sample, giving an indication of the potential gold grade of
the Stockpile.
The 2013 Technical Report outlined Stockpile grades in an
initial range of 0.06 g/t to 10.2 g/t gold for an average grade of
2.83 g/t gold from eight random small bulk samples. On the basis of
these initial encouraging results, Laurion commissioned a
comprehensive program to accurately determine the location and
volume of the Stockpile, and to sample the Stockpile using an
excavator to dig pits for acquiring representative samples for gold
analysis.
A total of 30 pits were excavated and 46 selective samples were
collected, with deeper pits (maximum 5.2 meters deep) providing 2
or 3 selective samples at successively deeper levels. Sampling of
the excavated material was carried out to acquire samples that were
representative of rock types and broken rock size. Samples were
collected in 20 litre pails for processing. Individual sample
weights were between 20.8 and 30.7 kg, and the total sample weight
tested was 1.22 tonnes. The <2mm fraction had the highest gold
grade material averaging 6.20 g/t gold, and all samples in this
size fraction had assays greater than 1.75 g/t gold. The coarsest
> 63 mm fraction had highly erratic values of nugget gold, and
also contained the highest-grade sample of 32 g/t gold
(QSWR-10-018).
The 2013 Technical Report stated the resource estimate for the
low grade stockpile is 144,070 tonnes grading 1.59 g/t gold for
7,383 contained ounces of gold in the Indicated category. The
resource estimate for the low grade tails is 137,501 tonnes grading
0.67 g/t gold for 2,944 contained ounces of gold in the Indicated
category. Total Indicated mineral resources for both deposits
totals 281,571 tonnes grading 1.14 g/t gold for 10,327 contained
ounces of gold (see the Corporation's news release dated
April 23, 2013).
Quality Assurance and Quality Control
("QA-QC")
All samples from the 2010 waste pile program were delivered by
GeoVector Management Inc. personnel to the Activation Laboratories
("Actlabs") facility in Geraldton.
Actlabs is an ISO/IEC 17025 accredited analytical laboratory and is
independent of Laurion. At Actlabs samples were analyzed by fire
assay with AA finish. Any high grade samples over 3,000 ppb gold
were further treated to fire assay with gravimetric finish to
determine a final gold grade.
Sampling of the excavated material was carried out by GeoVector
to acquire samples that were representative of rock type and broken
rock size. Samples were collected in 20 litre pails and delivered
to Overburden Drilling Management ("ODM") in Ottawa, Ontario. ODM sorted the individual
samples into 4 fractions of <2mm, 2 to 16mmm, 16 to 63mm and
>63mm. The size fractions from the samples were sent by ODM to
Actlabs and they were analyzed by the Fire Assay Method with an
Atomic Absorption Finish. Any high grade samples over 3,000 ppb
gold were further treated with a Gravimetric Finish to determine a
final gold grade.
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 47 km2 Ishkoday
Project Ishkoday Project, and its gold-silver and gold-rich
polymetallic mineralization with a significant upside
potential.
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. The 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").
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 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.
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SOURCE Laurion Mineral Exploration Inc.