- 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 /CNW/ - 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.