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TORONTO, May 8, 2019 /CNW/ - LAURION Mineral
Exploration Inc. (TSX.V: LME and OTCPINK: LMEFF) ("LAURION" or the
"Corporation"), is pleased to announce laboratory certified
assay results from the 2018 SONIC drilling completed on its surface
stockpile (the "Stockpile") emanating from the historic
operation of the Sturgeon River Mine at the Corporation's wholly
owned Ishkoday Project ("Ishkoday"). A total 20 SONIC drill
holes for 183m were completed testing
the core of the Stockpile; collecting some 378 samples analyzed for
gold.
The SONIC drilling had the objectives of (1) drilling to, and
determining the bottom of the Stockpile; (2) better assessing the
gold carrying material; and (3) collecting continuous samples at
1.5m intervals to the bottom of the
Stockpile using a near equally spaced grid on the upper bench.
LAURION expects completing the necessary studies for the
optimal processing of the surface ore-bearing stockpile.
Program Assay Highlights for 2018
The 2018 SONIC drilling was supervised by Qualified Persons as
defined by National Instrument 43-101 rules following CIM standards
of best practices for the industry. The laboratory certified gold
assay results for three sample size fractions (under 2mm, 2mm to
6.3mm, and over 6.3mm fractions) are summarized as follows:
- Gold for the under 2mm fraction ranged between 0.01 and 26.20
g/t gold; the same fraction in the 2010 sampling gave a range
between 1.77 and 17.00 g/t gold;
- Gold for the 2mm to 6.3mm fraction ranged between trace and
30.40 g/t gold; the same fraction in the 2010 sampling gave a range
of 0.05 to 4.84 g/t gold; and
- Gold for the over 6.3mm fraction ranged between trace and 2.70
g/t gold; the same fraction in the 2010 sampling gave a range of
0.01 to 16.29 g/t gold.
In 2018, LAURION also collected 7 additional grab rock samples
from the Stockpile. All 7 samples were various breccias, whether
volcanic, intrusive, hydrothermal or shear, and contained up to 50%
shear quartz-chlorite veins, and trace to 5% disseminated to blebby
pyrite. Three of the samples yielded 7.25, 6.64 and 2.62 g/t gold,
and contained mostly quartz veins and pyrite.
The importance of the Stockpile samples, are that they
characterize a portion of the rock types of the Sturgeon River Mine
area.
However it should be noted that the samples are not necessarily
representative of the entire mineralization hosted on Ishkoday.
Additional results from metallurgical test work are expected to
be available in the coming weeks, and will consist of both gravity
recovery and flotation testing.
2010 Stockpile Assay and Metallurgical Work
The 2010 assay and metallurgical testing was summarized in a
LAURION 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").
The 2013 Technical Report stated the resource estimate for the
stockpile was 144,070 tonnes grading 1.59 g/t gold for 7,383
contained ounces of gold in the Indicated category. On the basis of
these initial encouraging results, LAURION undertook a more
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 5.2m deep) providing 2 or 3 selective samples at
successively deeper intervals. 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 varied between 20.8
and 30.7 kg, and the total sample weight tested was 1.22
tonnes.
Gravity recoverable gold metallurgical test work completed in
2010 indicated that 87.5% of the gold could be concentrated by
gravity. The combination of Knelson Concentration with cyanidation
of the gravity tailings gave a combined recovery and extraction of
98.5%. A second set of gravity gold recovery test work was
completed via semi-batch and continuous gravity concentration
returned 82.6 % recovery. Microscopic examination was indicated
good liberation of gold grains ranging from 15 to 177 µm or 0.015
to 0.177mm in size, indicating the Ishkoday gold mineralization is
potentially both coarse and very fine.
The 2013 Technical Report also stated the resource estimate for
both the surface stockpile and the tailings deposits totalled
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). Phoenix Gold (1984) reported
a historical grade of 2.95 g/t gold from a bulk sample, indicating
the potential gold grade of the Stockpile. The historic Sturgeon
River Mine (1936 to 1942) produced 73,322 ounces of gold and 15,929
ounces of silver, from the No. 3 Quartz Vein. 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.
Quality Assurance and Quality Control ("QA-QC")
The SONIC drill used in 2018 operates using an oscillator drill
head which generates a high-frequency that cause the soil and rock
to change density and porosity, and to lose structure. The core
sampler consists of an outer drill casing rod with an inner core
barrel. The casing rods and core barrel are 3.05m long. The samples were captured in a clear
plastic liner that is 76.2mm in diameter by 1.5m long that collected relatively undisturbed
stockpile samples. Once the core run was completed, the core was
removed from the core barrel, and laid horizontally on a flat
surface for examination.
The surface elevations and locations of each drill hole were
surveyed. The driller confirmed top and bottom depths of the drill
holes. A qualified geologist from Gauvreau GeoEnvironmental Group
("G3") (of Sudbury,
Ontario) examined the core to determine the Stockpile
thickness, its base contact and rock types. Once pertinent
information (mineralogy, moisture, clast size, etc.) was collected,
samples were placed in drill core boxes by the G3 qualified
geologist. Drill core boxes were then moved to the core shack tent
where more detailed core logging was done.
Following the core logging, drill core was sampled at 30cm
intervals, with each sample inserted in sample bags provided by the
laboratory performing the analyses. A site-specific coding system
was used to identify each sample collected. The coding system
allows tracking and retrieval of information concerning a
particular sample and was assured that each sample is uniquely
identified. As part of the QA-QC, blind duplicates and blanks were
incorporated within the sample stream.
Samples were then delivered by G3 to the AGAT Laboratories
("AGAT") facility in Thunder Bay
(Ontario), and where subsequently
shipped to AGAT's Mississauga
(Ontario) facility for final
processing and analysis. AGAT is an ISO/IEC 17025 accredited
analytical laboratory and is independent of LAURION. Each sample
was dried, weighed and sieved to three fraction sizes: under 2mm,
2mm to 6.3mm, and over 6.3mm fractions. Each of these
fraction sizes represented a separate sub-sample and were weighed
prior to analysis using the Fire Assay Method ("FA") with
Atomic Absorption Finish ("AAF"). Any higher grade samples
over 5 g/t gold were further analyzed using FA with a Gravimetric
Finish ("GF") to determine a final gold grade.
All samples from the 2010 waste pile program were delivered by
GeoVector Management Inc. personnel to the Activation Laboratories
("Actlabs") facility in Geraldton
(Ontario). Actlabs is an ISO/IEC
17025 accredited analytical laboratory and is independent of
LAURION. At Actlabs, samples were analyzed by fire assay with AAF.
Any high grade samples over 3,000 ppb gold were further treated to
FA with a GF 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 multiple size fractions. The size fractions were sent
by ODM to Actlabs and they were analyzed by FA followed by AAF. Any
high grade samples over 3,000 ppb gold were further treated with a
GF to determine a final gold grade. Accompanying the Metallurgical
test work was a further assay sample which was sent to Act labs
requiring a triplicate sample, pulverization to 90% passing 75
microns, a 50 gram sample charge and sand washing required, since
the sample is nuggety gold. A blank sample was added as part of the
QA-QC for visible gold samples at the end of sample runs.
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 143,470, 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 Project, and its gold-silver and
gold-rich polymetallic mineralization with a significant upside
potential.
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.