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NEWSWIRE SERVICES OR DISSEMINATION IN THE
UNITED STATES./
TORONTO, Nov. 3, 2020 /CNW/ - LAURION Mineral
Exploration Inc. (TSXV: LME) and (OTCPINK: LMEFF)
("LAURION" or the "Corporation") is pleased to report
additional surficial channel sample assays located within the CRK
Zone, Ishkoday Project. This area is a target of LAURION's ongoing
2020 phase 2 drill program.
Channel sampling (Figure 1) was primarily done along trend
from the main NE-trending CRK Zone, with lesser samples being
collected along the N-trending Joe vein (see October 13, 2020 news release). Samples were
collected in newly-uncovered and previously-trenched areas and the
grade and distribution show significant surficial mineralized
potential (Table 1, 2).
The main CRK trenched area hosts both polymetallic
(gold-silver-copper-zinc) mineralization and gold-bearing quartz
veins, as well as north-trending polymetallic mineralization. In
areas where these mineralized orientations converge, the grade and
width of mineralization increase (see September 29, 2020 news release).
Table 1: Significant individual and interval channel sample
results in the CRK area.
Channel ID
|
Length (m)
|
Gold (g/t)
|
Silver
(g/t)
|
Copper
(wt%)
|
Zinc (wt%)
|
C20-03
|
1.20
|
0.08
|
9.50
|
0.18
|
3.16
|
C20-06
|
0.75
|
0.05
|
10.20
|
0.18
|
1.62
|
C20-09
|
0.54
|
0.07
|
6.50
|
0.17
|
1.25
|
C20-11
|
1.50
|
0.20
|
19.90
|
0.32
|
6.83
|
C20-12
|
1.00
|
0.07
|
8.50
|
0.02
|
2.36
|
C20-13a
|
1.67
|
0.05
|
11.40
|
0.14
|
3.95
|
C20-13b
|
1.17
|
0.18
|
13.90
|
0.11
|
1.30
|
C20-16
|
0.70
|
0.37
|
4.50
|
0.05
|
7.03
|
C20-18
|
0.90
|
1.14
|
11.60
|
0.10
|
10.50
|
C20-19
|
0.80
|
0.79
|
8.50
|
0.09
|
7.99
|
C20-20
|
1.10
|
0.21
|
22.40
|
0.18
|
2.29
|
C20-21
|
0.70
|
0.28
|
10.20
|
0.22
|
1.46
|
C20-26
|
0.40
|
0.03
|
2.00
|
0.02
|
3.99
|
C20-28
|
0.60
|
0.14
|
2.30
|
0.10
|
2.97
|
C20-30
|
1.75
|
3.29
|
4.83
|
0.13
|
2.91
|
C20-33
|
0.65
|
2.10
|
4.70
|
0.07
|
4.51
|
C20-34
|
0.80
|
0.29
|
6.80
|
0.36
|
9.02
|
C20-35
|
0.48
|
0.39
|
1.60
|
0.02
|
4.31
|
C20-37
|
3.00
|
0.97
|
11.49
|
0.35
|
0.95
|
Table 2: Location and orientation of individual channel samples
from the CRK area.
Sample ID
|
Channel
ID
|
Length
(m)
|
Azimuth
(°)
|
From
|
To
|
Easting
|
Northing
|
Easting
|
Northing
|
B617071
|
C20-03
|
1.20
|
112
|
445313.3
|
5512154
|
445314.5
|
5512154
|
B617074
|
C20-06
|
0.75
|
100
|
445314.9
|
5512157
|
445315.7
|
5512157
|
B617078
|
C20-09
|
0.54
|
98
|
445350.7
|
5512174
|
445351.2
|
5512174
|
B617081
|
C20-11
|
1.50
|
80
|
445352.9
|
5512176
|
445354.4
|
5512177
|
B617082
|
C20-12
|
1.00
|
17
|
445352.4
|
5512177
|
445352.7
|
5512178
|
B617085
|
C20-13a
|
1.67
|
117
|
445351.6
|
5512179
|
445353.1
|
5512178
|
B617086
|
C20-13b
|
1.17
|
83
|
445353
|
5512179
|
445354.2
|
5512179
|
B617091
|
C20-16
|
0.70
|
324
|
445538.9
|
5512054
|
445538.5
|
5512054
|
B617098
|
C20-18
|
0.90
|
305
|
445537.9
|
5512053
|
445537.1
|
5512053
|
B617099
|
C20-19
|
0.80
|
142
|
445536.7
|
5512051
|
445537.2
|
5512051
|
B617101
|
C20-20
|
1.10
|
105
|
445311.1
|
5512028
|
445312.1
|
5512027
|
B617102
|
C20-21
|
0.70
|
112
|
445311.4
|
5512020
|
445312.1
|
5512020
|
B617113
|
C20-26
|
0.40
|
117
|
445340.7
|
5511908
|
445341.1
|
5511908
|
B617119
|
C20-28
|
0.60
|
103
|
445331.6
|
5511883
|
445332.2
|
5511883
|
B617124
|
C20-30
|
0.90
|
131
|
445561.3
|
5511895
|
445562
|
5511894
|
B617126
|
C20-30
|
0.85
|
127
|
445562
|
5511894
|
445562.7
|
5511893
|
B617132
|
C20-33
|
0.65
|
304
|
445554.2
|
5511892
|
445553.6
|
5511892
|
B617136
|
C20-34
|
0.80
|
316
|
445537.5
|
5511899
|
445536.9
|
5511899
|
B617140
|
C20-35
|
0.48
|
306
|
445530.6
|
5511903
|
445530.2
|
5511903
|
B617144
|
C20-37a
|
0.70
|
142
|
445530.2
|
5511945
|
445529.8
|
5511945
|
B617145
|
C20-37a
|
0.60
|
142
|
445529.8
|
5511945
|
445529.4
|
5511946
|
B617146
|
C20-37a
|
0.80
|
142
|
445529.4
|
5511946
|
445528.9
|
5511946
|
B617147
|
C20-38b
|
0.50
|
122
|
445526.4
|
5511947
|
445526.8
|
5511946
|
B617148
|
C20-38b
|
0.40
|
122
|
445526.8
|
5511946
|
445527.2
|
5511946
|
Coordinates are
presented in UTM NAD83 Zone 16N.
|
Diamond Drill Program update
2020 Phase 2 drilling is
now complete at the CRK Zone (see September
29, 2020 news release) for a combined total of 2,962 m drilled in ten holes. Assay results are
pending.
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.
Channel samples are individually cut, perpendicular to
mineralization, using a double-bladed saw to specific lengths.
Samples are cut to approximately 5 cm width and 10 cm depth, with
individual samples weighing approximately 1.5 to 4 kg. Channel
samples are inserted into individual plastic bags, labelled and
containing unique sample tags, and sealed. Aluminum tags with the
sample tag information are inserted at the beginning of each
channel sample cut. Collected field data includes sample number,
channel azimuth, sample length, rock type and GPS UTM coordinates.
Samples are catalogued and industry-standard Quality
Assurance/Quality Control (QA/QC) samples are added, including
standards, duplicates and blanks, in a pre-established order.
Samples are then sealed in nylon bags and shipped by LAURION
personnel to the ALS facility in Thunder
Bay, Ontario.
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.
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. The Corporation currently has 197,139,978
outstanding shares, of which approximately 71% of LAURION's issued
and outstanding shares 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. 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.