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TORONTO, April 28, 2020 /CNW/ - Laurion Mineral
Exploration Inc. (TSX.V: LME and OTCPINK: LMEFF) ("LAURION" or the
"Corporation") is pleased to report the commencement of
the 2020 exploration drill program (the "Program") at its 100%
owned Ishkoday Project (the "Project"), located 220 km northeast of
Thunder Bay, Ontario, near the
town of Beardmore.
The first Program of 4,500 metres is focussed on priority
targeting of the A-Zone of the Loki Trend, which extends over a
3,000 m by 800
m corridor ("the Loki Trend Corridor"). The A-Zone is
currently defined along a 1+ km corridor. Historic (1980s and
1990s) and more recent LAURION (2012 to 2014) drilling has
intersected significant grades and widths of gold and base metal
mineralization as follows:
Hole
ID
|
FROM
(m)
|
TO
(m)
|
INTERVAL
(m)
|
Au
g/t
|
Ag
g/t
|
Cu%
|
Zn%
|
93-39
|
172.66
|
181.69
|
9.03
|
1.79
|
10
|
0.07
|
1.92
|
92-58
|
139.80
|
143.80
|
4.00
|
4.40
|
22.7
|
0.34
|
3.85
|
92-64
|
45.80
|
49.30
|
4.30
|
4.89
|
8.0
|
0.04
|
1.00
|
LBX12-006
|
135.00
|
140.05
|
5.05
|
1.23
|
9.0
|
0.11
|
2.82
|
Incl.
|
138.80
|
140.05
|
1.25
|
4.24
|
40.06
|
0.40
|
10.52
|
LBX12-010
|
35.00
|
148.00
|
113.00
|
0.50
|
3.2
|
0.02
|
0.63
|
Incl.
|
46.16
|
59.00
|
12.84
|
3.31
|
18.1
|
0.09
|
3.72
|
Incl.
|
46.16
|
50.20
|
4.04
|
5.26
|
40.1
|
0.29
|
8.38
|
Incl.
|
68.75
|
76.50
|
7.75
|
0.86
|
9.5
|
0.05
|
2.10
|
Incl.
|
68.75
|
71.00
|
2.25
|
2.58
|
30.3
|
0.14
|
6.72
|
Incl.
|
146.00
|
148.00
|
2.00
|
0.15
|
3.5
|
0.07
|
1.04
|
|
|
|
|
|
|
|
|
Notes: The true
thicknesses of the mineralized zones are unknown. Part of the focus
in this drill program is on controls of zone orientation supported
by modelling of the mineralized zones. Readers are cautioned that,
aside from holes LBX12-006 and LBX12-010, the above drill hole data
are historical in nature. A Qualified Person has not verified the
historic data since there is no other information (such as Quality
Assurance and Quality Control measures) available apart from the
historic drill logs and assays and the historic drill core cannot
be re-sampled nor re-assayed as it may no longer exist. 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.
|
Cynthia Le Sueur-Aquin, President
& CEO of LAURION commented: "Our geological team has
reinterpreted the geology of the A zone and identified a major
north-south shear zone which may be an important control on higher
grade gold mineralization in the A Zone. This new target will
be tested in our drilling program which has now commenced."
David Lewis, LAURION's
Exploration Manager, stated: "The identification of this
southeast-dipping shear zone, which occurs in otherwise relatively
undeformed rock, is an important find. If it is a controlling
structure on mineralization, it may have been insufficiently tested
as the vast majority of historic drilling appears to be oriented
subparallel to this structure."
The planned drilling is designed to confirm historic mineralized
intercepts and will also test the intersection of the vein
structures and interpreted shear zones. The induced polarization
survey (announced in the March 17,
2020 news release) has been completed over the A-Zone and
results will be used in conjunction with the updated structural
model to further refine drill targets. Core will be oriented using
Boart/LongyearTM TruCoreTM to help constrain
the orientation of shear zones, vein structures and rock contacts
and will be used to facilitate ongoing drill targeting.
Further details on historical and LAURION drilling intercepts of
the A-Zone are outlined in the March 27,
2020 news release.
On a property scale, the A-Zone lies near the northeast boundary
of the ellipsoidal Sturgeon River Stock (Figure 1). The
elongation of the stock, coupled with the nearby shear zones
inferred through previous Ontario Geological Survey, Laurentian University Metal Earth and LAURION
mapping and geophysics, suggests that the A-Zone is hosted in a
major prospective extensional zone.
A 3D conceptual model of the A-Zone, produced in
GEMCOMTM by A. S. Horvath Engineering Inc., was
initiated in December 2019 and
completed in March 2020 (Figure
2). The model integrated approximately 26,000 m of historic (1987 to 1992) and recent
(2012 to 2014) drill core and suggests that two orientations (010°
and 035°) of sub vertically dipping mineralized vein structures are
present in the area.
Infill assay sampling of available LAURION A-Zone drill holes
identified the presence of an unsampled, moderately dipping, 2 to
5 m wide shear zone with associated
quartz veins in holes LBX14-016 and LBX14-017. The shear zone is at
low angle (~0 to 15°) to core axis and a search of the surrounding
historic and recent LAURION drill holes suggests that the structure
dips moderately (~50°) east or southeast. The infill sampling also
shows that two types of mineralized veins are present (shear hosted
and extensional), although the trend of these veins is not yet
verified. Results on these infill samples are pending.
The conceptual 3D vein structure model (Figure 2), in
conjunction with the shear zones and vein styles identified in
surrounding drill holes, suggests that the shear hosted veins dip
moderately east or southeast and the extensional veins strike
northeast and dip steeply. The vast majority (~95%) of historic
drilling at the A-Zone was drilled moderately (~50°) to the
southeast, subparallel to this newly-recognized shear zone.
Mr. David Lewis, P. Geo.
(PGO), LAURION 's Exploration Manager and 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.
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 59% 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 a significant upside potential. Ishkoday has a
project-wide database (2008 to 2019) that includes 307 diamond
drill holes totaling 48,879 m,
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. The recently-acquired Brenbar Property, which is
contiguous with the Ishkoday Property, hosts the historic Brenbar
Mine and LAURION believes that the mineralization to be a direct
extension of mineralization from the Ishkoday Property.
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, 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 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.