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TORONTO, Sept. 29, 2020 /CNW/ - LAURION Mineral
Exploration Inc. (TSXV: LME) and (OTCPINK: LMEFF)
("LAURION" or the "Corporation") is pleased to announce
the commencement of the second phase of 2020 drilling at the
Ishkoday Project, located near the town of Beardmore, Ontario. This 2,500 m drill program will test mineralization
both along and across strike at the CRK Zone.
The CRK Zone lies along the Loki trend corridor and is located
between the A-Zone and the past-producing Sturgeon Mine (Figure 1).
Trenching in 2019 exposed a northeast-trending, 370 m-long corridor of both polymetallic
(gold-silver-copper-zinc) mineralization and gold-bearing quartz
veins, as well as north-trending polymetallic mineralization. Cross
trenching exposed a second, northeast-trending, subparallel zone,
located approximately 120 m across
strike. Fourteen nearby historic and LAURION drill holes tested the
main CRK trend, returning sporadic high grade gold values, but did
not test for north-trending horizons which recent work indicates
are a major control on gold mineralization.
Semi-continuous channel sampling on the CRK Zone has identified
low-grade mineralized widths ranging up to 8.5 m across strike in the northeast-trending
mineralization. In areas where the northeast and north trending
mineralization converges, both the width and grade increase (see
news releases dated September 12, 24,
October 18, 25, 29 and November 12, 2019 for further details).
Ongoing mapping shows at least three north to northwest trending
and at least two northeast trending mineralized zones, with
untested potential beneath cover including two nearby swamps. The
intersection areas have the potential to host wider mineralization
(Figure 2) and this drill program is designed both to check for
additional zones and test the width of these intersections.
Qualified Person
Mr. David Lewis, P. Geo. (PGO),
LAURION 's Exploration Manager, is a Qualified Person as defined by
National Instrument 43-101 and has reviewed and approved the
content of this news release.
All core and channel samples have been assayed by ALS
Laboratories in Thunder Bay,
Ontario. Samples are processed by 4-acid digestion and
analyzed by fire assay on 50 g pulps and ICP-AES
(Inductively-Coupled-Plasma – Atomic-Element-Spectroscopy). Over
limit analyses are reprocessed with gravimetric finish. LAURION
employs an industry standard QA/QC program including insertion of
blanks, duplicates and standards. Core samples are sawn by
core saw on site (cut perpendicular to mineralization), with
one-half of the core sent in secure bags to ALS Laboratories.
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 197,139,978 outstanding
shares of which collectively 'Insiders', 'Family' and 'Friends of
family members' own and control approximately 71.2% of total
outstanding shares.
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. 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.