/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./
- Azurite segment (Outcrop #34) yielded 3 separate channel
samples intervals, one of which gave 0.90 g/t gold, 35.26 g/t
silver, 0.53% copper and 5.71% zinc over 7.50m
TORONTO, Sept. 24, 2019 /CNW/ - Laurion Mineral
Exploration Inc. (TSX.V: LME) and (OTCPINK: LMEFF) ("LAURION" or
the "Corporation") is pleased to report new and significant
channel samples intervals assay results from the northern portion
of CRK Sulphide Veins (the "CRK") sector, termed the Azurite
segment (Outcrop #34), on the Corporation's wholly-owned Ishkoday
Project ("Ishkoday"), located 220 km northeast of
Thunder Bay (Ontario).
Discovery of New Sulphide Veins
The Azurite segment covers a 300m2 area (30m by 10m)
containing a 0.5 to 1.5m wide,
25m long massive sulphides unit
consisting of sphalerite, chalcopyrite and galena hosted in a
siliceous, highly fractured felsic volcanic or intrusive located at
the northern extremity of the CRK, some 260m north of the main CRK (Figure 1
Location Map; Figure 2 Channel Samples Intervals Assay
Results). The CRK forms part of a northeast-southwest
corridor extending some 2.1km in length by 500m wide encompassing multiple areas of sulphide
veins of various sizes. The massive sulphides were fully sampled
over the exposed 13m length in 3
channel samples intervals yielding: (1) 0.32 g/t gold, 26.14 g/t
silver, 0.38% copper and 8.84% zinc over 4.37m; (2) 44.87 g/t gold, 41.85 g/t silver,
0.43% copper and 4.14% zinc over 1.06m; and (3) 0.90 g/t gold, 35.26 g/t silver,
0.53% copper and 5.71% zinc over 7.50m.
Individual channel sample assay results from the 3 intervals are
outlined in the following table:
UTM
COORDINATES
(NAD 84, ZONE
16)
|
CHANNEL
LENGTH
|
AU
|
AG
|
CU
|
PB
|
ZN
|
EASTING
|
NORTHING
|
(m)
|
(g/t)
|
(g/t)
|
%
|
%
|
%
|
445478
|
5512289
|
0.68
|
0.36
|
13.70
|
0.15
|
0.02
|
16.20
|
445478
|
5512288
|
0.68
|
0.26
|
14.20
|
0.10
|
0.04
|
10.35
|
445479
|
5512287
|
1.09
|
0.18
|
21.10
|
0.30
|
0.13
|
9.16
|
445479
|
5512286
|
1.07
|
0.45
|
39.40
|
0.62
|
0.16
|
5.01
|
445480
|
5512285
|
0.85
|
0.335
|
35.40
|
0.57
|
0.07
|
6.13
|
|
|
4.37m
|
0.32
g/t
|
26.14
g/t
|
0.38%
|
0.10%
|
8.84%
|
445479
|
5512286
|
0.26
|
0.795
|
46.30
|
0.95
|
0.07
|
6.06
|
445479
|
5512286
|
0.80
|
59.20
|
40.40
|
0.26
|
0.05
|
3.52
|
|
|
1.06m
|
44.87
g/t
|
42.85
g/t
|
0.43%
|
0.05%
|
4.24%
|
445496
|
5512267
|
0.91
|
1.455
|
41.10
|
0.42
|
0.08
|
6.16
|
445496
|
5512268
|
0.81
|
0.02
|
1.80
|
0.04
|
0.00
|
0.56
|
445496
|
5512269
|
0.77
|
0.29
|
19.30
|
0.41
|
0.00
|
1.09
|
445495
|
5512269
|
1.00
|
0.74
|
34.90
|
0.53
|
0.16
|
3.57
|
445494
|
5512270
|
1.04
|
1.06
|
34.30
|
0.70
|
0.22
|
4.70
|
445494
|
5512271
|
1.18
|
1.01
|
33.80
|
0.52
|
0.29
|
15.35
|
445493
|
5512273
|
0.88
|
0.99
|
41.60
|
0.68
|
0.09
|
9.32
|
445493
|
5512273
|
0.91
|
1.46
|
70.00
|
0.88
|
1.36
|
1.23
|
|
|
7.50m
|
0.90
g/t
|
36.26
g/t
|
0.53%
|
0.29%
|
5.71%
|
Ishkoday Mineral Exploration Model: Geology and
Mineralization
(taken from "The Geraldton-Onaman Transect –
Volcanology, Metamorphism, Deformation and Mineralization", MERC
2019 Geraldton-Onaman Field Trip Guide, Z. Toth et al., 2019, pp.
11 to 14; and LAURION's exploration work in 2018-2019)
Ishkoday consists of an outlier of calc-alkaline volcanic
assemblage composed of pillowed mafic flows overlain by monolithic
to heterolithic felsic to intermediate volcanic flows and tuffs,
and volcaniclastic rocks, and intruded by syn-volcanic felsic,
intermediate and minor mafic dykes. The largest dyke is the 1km
wide Sturgeon River Pluton (the "Pluton") which hosts the
majority of the known mineralization. The pluton is in-turn
intruded by major syn-volcanic intrusions to the southeast (Coyle
Lake Batholith) and northwest.
Mineralization at Ishkoday occurs in two separate styles. The
first, termed Ishkoday style, is an early, syn-volcanic
hydrothermal system with discordant, zoned, stockwork-type pipes
consisting of a magnetite-actinolite-sulphide core, and a
peripheral zone of comb-textured quartz veins, patchy to pervasive
epidote alteration, and pods of chlorite alteration and breccia.
The second, termed Sturgeon River style, are syn- to
early-tectonic, fault-filled, crack-seal textured, gold-silver
bearing quartz veins with a chlorite alteration halo that includes
iron carbonate and pyrite. Based on cross-cutting relationship the
Sturgeon River quartz veins postdate the Ishkoday mineralization;
however the two mineralized systems have similar
northeast-southwest orientations and spacing, suggesting similar
structurally controlled mineralizing fluids channels. Some of the
intermediate dykes consisting of porphyritic dyke swarms crosscut
the earlier Ishkoday style alteration, while others are altered by
the latter.
Sulphides of the Ishkoday style mineralization consists of
disseminated, stringer and massive sulphides containing iron, zinc,
copper, gold and silver. The later lode gold-silver quartz veins
are associated with fracturing/shearing with the quartz vein
transitioning into fractures or shears and vice-versa. Both styles
of mineralization extend 100's to 1,000's meters lengths, occurring
as multiple individual sinuous and anastomosing centimeter to meter
wide vein sets, and forming corridors several hundred meters in
width (Figure 3 Ishkoday Project Target Area Geology
Map).
The base (and precious) metal vein sets are the 1.1 km "A"
Zone with its 9 individual sulphide veins, followed
750m to the southwest by the 1.2km
long, 10 sulphide veins of the CRK Zone, which transitions
250m further to the southwest into
the 18 quartz veins of the 85-A2 Quartz Vein with secondary
metric long sulphide veins. The Miron, McLeod,
Joe, Ahki (A-6), Azurite-Johnny (A-5) and
Tehya showings encompass additional sulphide veins along and
across strike, forming as a whole a 2.3km by 600 wide corridor of
the Loki Trend, termed Domain 1.
The gold bearing vein sets are the No. 3 Quartz Vein
encompassing 11 individual veins (Nos. 1, 2, 3, 3A to 3E,
Coniagas and Nos. 8/11 in a second corridor extending some
750m in length by 375m wide as part of Domain 2. The
peculiarity of this corridor is the dominant 010° trend (with
secondary 040° quartz veins forming anastomosing veins) of the
gold-rich No. 3 Quartz Vein of the historic Sturgeon River Mine.
Gold grades recently reported by LAURION on the No. 3 Quartz Vein
South (refer to the Corporation's news release dated
August 20, 2019) 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).
The Marge Quartz Vein has four distinct quartz veins
(Marge, Marge South "F" and "X") on
trend at 040° with the M24-25 Quartz Veins that hosts
some 15 quartz veins (M-series quartz veins) covering a 1.8km by
225m wide corridor of Domain
3.
Quartz veins dominate the central, west and southwest portions
of the Target Area, whereas the sulphide veins occur generally in
the northeast segment of the Target Area. The Pluton hosts the No.
3 Quartz Vein at the Sturgeon River Mine (South Pluton), the Marge
Quartz Vein (Central Pluton); and the M25 Quartz Vein (West
Pluton). The Pluton also hosts centimeter-wide sulphide
veins/veinlets as shears/fractures, with or without quartz veins.
Multiple veins of the A-2 Quartz Vein (A-2, A-4 to A-6 and V-2 to
V-9) overlap the multiple sulphide veins of the CRK and "A"
zones.
Ishkoday Mineral Exploration Model: Geological
Modelling
Project wide sections covering 90% of the LAURION and historic
drilling were compiled across at 50m
sections (Figure 4 Mineralized Corridor Longitudinal Section;
Figure 5 – Interpretative Cross-Section of the "A" Zone Sulphide
Veins). Bedrock descriptions from drill core and
outcrop were standardized across all drill programs to ensure
consistency. A geological and structural model is being
constructed.
For now, three mineralized zones showed sufficient continuity
along a northeast-southwest strike with the drill density to
support the construction of wireframes of quartz veins and sulphide
veins. Explicit modeling was done on 25m and 50m spaced
sections where appropriate. The mineralized zones, the Sturgeon
River Mine, CRK and "A" Zone, were wire-framed on sections using a
1 g/t gold cut-off for geological continuity. The mineralized
zones were plotted on a longitudinal section over a km strike
length corridor, some 500m wide. All
areas were modelled using historic drill intercepts with exception
of a small area at Sturgeon River Mine where higher grade gold 2019
summer results have been returned (refer to LAURION's news
release dated August 20,
2019).
The modelling will be revisited once all 2019 channel sample
results have been returned, with the primary area of infill being
within the 4 km corridor sulphide and quartz veins centered on the
"A" and CRK zones. The modelling showed extension at depth.
The Sturgeon River Mine was only zone that was extended to include
the deeper drill holes drilled by LAURION in 2010 to a depth of
-825m from surface.
Refer to Figures 1 to 5 on LAURION's website using the following
link:
http://www.laurion.org/ishkoday-project/highlights/2019-field-exploration-program/
QA-QC Protocols
Samples for assay from this program are initially processed and
prepared by ALS Global Geochemistry in Thunder Bay, Ontario, with pulps sent to 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 channel sample was individually cut using a double-bladed
saw by a LAURION field technician to lengths chosen by the senior
geologists, approximately a 5cm width and 10cm depth. Individual
samples weighed from 3 to 8kg. Each channel was sampled other
LAURION field technicians, and inserted in individual plastic bags,
each with ALS sample tags, and sealed. Metal tags with the ALS
sample number were inserted at the beginning of each sample channel
cut. The field data gathered includes sample number, azimuth of the
channel, channel/sample lengths, geology and geo-reference using
UTM coordinates.
Individual plastic sample bags were then returned to the LAURION
field office where they are catalogued and inserted in large nylon
bags 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 are again 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 is 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.
Qualified Persons
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
guidelines and has reviewed and approved the content of this news
release. The 2D/3-D geological modelling work is being done by Ms.
Francine Long, P. Geo. (PGO),
LAURION's Technical Consultant, using the GeosoftTM
Target software.
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 165,630,869
outstanding shares of which 58.7% 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. Ishkoday 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
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.
The 2018-2019 exploration initiated in May 2018 is a three-staged 18-month program with
the strategic objective of outlining the precious and base
metals upside potential at Ishkoday, part of the 5km by 1km Target
Area of the southern claims block. The Exploration Team has
confirmed the extent of known and new gold bearing quartz and
polymetallic sulphide veins that will ultimately help in completing
the construction of the 2-D and 3-D model and helping guide future
exploration targeting. This Model will provide LAURION with a solid
technical foundation to initiate diamond drilling to demonstrate
upside potential across the 5km by 1 km Target Area at
Ishkoday as part of the Stage 3 drill program starting later in
2019. The field portion of the Stage 2 Campaign is now
completed.
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.