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TORONTO, March 27, 2020 /CNW/ - LAURION Mineral
Exploration Inc. (TSX.V: LME and OTCPINK: LMEFF) ("LAURION" or the
"Corporation") is pleased to announce the appointment of Mr.
David Lewis, P. Geo., as Exploration
Manager for the Corporation's flagship property, the Ishkoday
Project, located 220 km northeast of Thunder Bay, Ontario.
Mr. Lewis is a structural and exploration geologist with
seventeen years' experience conducted on a variety of mineral
deposit types, including both lode gold and vein-hosted deposits.
He holds a B.Sc. in Geological Sciences from the University of Saskatchewan (Saskatoon, Saskatchewan), an M.Sc. in Geology
from Laurentian University
(Sudbury, Ontario) and is a
registered practicing member with Professional Geoscientists
Ontario. Mr. Lewis specializes in refining the structural and
lithological controls on mineralization, having worked both at a
regional and deposit scale with experience in Canada, the United
States, Greenland and
Mali. He has expertise in 2D
and 3D modelling and his experience ranges from grassroots to
brownfields exploration.
Mr. Lewis will design, coordinate and oversee all exploration
activities in the key next step of advancement of the Ishkoday
Project. A ground geophysical (IP) survey is
currently underway, and the first stage of drilling is
scheduled to commence mid-May with a 3,600m to 5,000m
campaign. One of Mr. Lewis's early priorities will be to focus on
the drilling at the A-Zone of the Loki trend, which extends over a
3,000m by 800m corridor. Here, historic (1980s and 1990s
vintage) and more recent LAURION (2012 to 2014) drill holes have
intersected significant widths and grades of gold mineralization.
Some highlights include the following historical assay results,
which span a 1+km mineralized trend (refer to Table
1 below).
Mr. David Lewis, Exploration
Manager, stated: "I am very pleased to join LAURION and I look
forward to the challenges ahead. I intend to evaluate the mineral
potential of the Ishkoday Project by examining the structural
setting of the gold-bearing veins, refining the structural controls
on vein emplacement and testing high-potential bulk mineralized
areas. I plan to use value-added approaches, such as oriented core,
to extract as much information as possible, and I want to ensure
consistency between surface and subsurface work. That way, our
geological and economic models will be as robust as possible. The
historic drilling suggests several mineralized, near-surface
corridors."
Stated Cynthia Le Sueur – Aquin,
President and CEO of the Corporation: "Mr. Lewis joins LAURION
at the pivotal time. Mr. Lewis's talent and innovative approach is
key to developing the big picture and mentoring the exploration
team, with immediate focus on the accelerated drilling
campaign."
"Our Board and management changes over the last two years
underscore our commitment to achieving operational excellence and
exploration success on the highly prospective mid-stage Ishkoday
Project. We will draw on the excellent experience of Mr. Lewis, who
will work in tight collaboration with our VP Exploration and highly
talented Technical Advisory Management Committee ("TAMC"), to
design and conduct exploration campaigns to demonstrate the gold
and base metal potential of the Ishkoday Property."
HoleID
|
Easting
|
Northing
|
Azimuth
|
Dip
|
Depth (m)
|
Interval
|
From (m)
|
To (m)
|
Length (m)
|
Au (g/t)
|
Ag (g/t)
|
Cu (ppm)
|
Zn (ppm)
|
87-007
|
446441
|
5512936
|
130
|
-60
|
163.7
|
46.73
|
89.63
|
42.9
|
0.21
|
2.05
|
212
|
1,062
|
Including
|
61.13
|
64.62
|
3.49
|
0.52
|
1.57
|
340
|
659
|
Including
|
70.58
|
73.55
|
2.97
|
0.37
|
5.32
|
382
|
5,678
|
Including
|
84.5
|
89.63
|
5.13
|
0.79
|
4.30
|
678
|
1,794
|
87-009
|
446459
|
5513000
|
135
|
-45
|
148.4
|
76.25
|
93.06
|
16.81
|
0.46
|
-
|
-
|
-
|
Including
|
78.38
|
80.97
|
2.59
|
1.88
|
-
|
514
|
146,699
|
Including
|
92.6
|
93.06
|
0.46
|
2.40
|
10.00
|
2,500
|
19,200
|
And
|
106.43
|
106.65
|
0.22
|
2.06
|
8.40
|
2,500
|
20,500
|
87-010
|
446459
|
5513000
|
135
|
-60
|
148.4
|
97.69
|
107.18
|
9.49
|
0.40
|
-
|
-
|
5,766
|
87-014
|
446627
|
5513181
|
130
|
-45
|
98.8
|
10.26
|
13.41
|
3.15
|
0.61
|
-
|
596
|
7,604
|
And
|
28.62
|
43.05
|
14.43
|
0.22
|
-
|
-
|
-
|
90-039
|
446341
|
5512741
|
120
|
-72
|
209.1
|
167.95
|
183.21
|
15.26
|
1.10
|
7.26
|
-
|
-
|
Including
|
177.86
|
181.69
|
3.83
|
3.06
|
16.42
|
1,152
|
43,426
|
And
|
195.08
|
195.68
|
0.6
|
1.73
|
15.00
|
1,800
|
45,200
|
90-040
|
446397
|
5512813
|
120
|
-83
|
190.8
|
150.88
|
166.42
|
15.54
|
0.42
|
6.10
|
689
|
10,043
|
Including
|
155.14
|
155.91
|
0.77
|
3.93
|
34.00
|
4,100
|
69,800
|
90-049
|
446107
|
5512414
|
120
|
-63
|
245.7
|
225.55
|
228.9
|
3.35
|
1.83
|
12.07
|
295
|
19,936
|
92-053
|
446633
|
5513158
|
125
|
-75
|
87.8
|
6.7
|
10.5
|
3.8
|
0.78
|
5.45
|
412
|
4,844
|
And
|
32.4
|
35.9
|
3.5
|
0.36
|
3.94
|
668
|
4,133
|
And
|
40.5
|
42.1
|
1.6
|
2.85
|
1.40
|
97
|
705
|
92-063
|
446581
|
5513101
|
125
|
-75
|
88.6
|
38.4
|
49.5
|
11.1
|
0.67
|
11.70
|
774
|
13,086
|
K-46
|
446528
|
5513060
|
135
|
-50
|
221.9
|
52.79
|
61.3
|
8.51
|
0.93
|
-
|
-
|
-
|
Including
|
52.79
|
58.61
|
5.82
|
0.96
|
2.25
|
-
|
-
|
Including
|
59.68
|
60.81
|
1.13
|
1.75
|
17.21
|
-
|
34,269
|
K-59
|
446474
|
5512944
|
135
|
-45
|
108.2
|
73.15
|
78.97
|
5.82
|
1.18
|
31.82
|
-
|
17,552
|
Including
|
75.26
|
76.2
|
0.94
|
4.11
|
183.45
|
22,500
|
86,400
|
K-64
|
446440
|
5512978
|
135
|
-45
|
135.0
|
95.07
|
99.61
|
4.54
|
3.96
|
12.47
|
-
|
-
|
Including
|
96.87
|
99.61
|
2.74
|
5.45
|
20.34
|
5,143
|
67,811
|
And
|
119.36
|
119.69
|
0.33
|
1.37
|
8.91
|
-
|
52,600
|
Table 1: Historic polymetallic assay results
from selected compiled drill holes in the A-Zone of the Ishkoday
Project. Drill hole intercepts are compiled from historic drilling.
True widths of mineralization are unknown at this time. Collar
positions are estimated based on compilation and coordinates are in
UTM NAD83 Zone 16N.
Readers are cautioned that the above drill hole data are
historical in nature. A Qualified Person has not verified the data,
since there is no other information (such as historic Quality
Assurance and Quality Control measures) available apart from the
historic drill logs and assays. In addition, the historic drill
core cannot be re-sampled nor re-assayed since it no longer exists.
LAURION believes that these historical drill holes provide a
conceptual indication of the potential of mineral occurrences
within the project and are a relevant guide for ongoing exploration
and drilling.
The Corporation also announces that pursuant to its stock option
plan, subject to TSX Venture Exchange ("TSX-V") approval, LAURION
will grant incentive stock options to Mr. Lewis to acquire a total
of 250,000 common shares of the Corporation, exercisable for a
period of five years at an exercise price of $0.165, subject to vesting requirements.
Qualified Persons
Jean Lafleur, P. Geo. (PGO, OGQ)
LAURION's VP Exploration and David
Lewis, P. Geo. (PGO), LAURION's Exploration Manager, both
Qualified Persons as defined by National Instrument 43-101, have
drafted, reviewed and approved the technical content of this news
release.
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 180,599,311 outstanding
shares of which approximately 58% 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 47 km2 Ishkoday
Project, and its gold-silver and gold-rich polymetallic
mineralization with significant upside potential. Ishkoday has a
project-wide database (2008 to 2019) that includes 307 diamond
drill holes totaling 48,879m,
geological mapping, ground and airborne geophysics, and 21,800
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, in the past producing Sturgeon
River Mine.
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 forward-looking statements involve risks and
uncertainties. Actual events could differ materially from those
projected herein including as a result of a change in the trading
price of the Common Shares. 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.