TORONTO, July 21, 2021 /CNW/ - Laurion Mineral
Exploration Inc. (TSXV: LME) (OTCPINK:
LMEFF) ("LAURION" or the "Corporation") announces
that LAURION's management has been in communication with the
Northern Development, Mines, Natural Resources and Forestry (MNRF),
and received notification that as of July
21, 2021, MNRF issued an industry-wide Emergency Area Order,
that mineral exploration activities such as diamond drilling,
stripping and trenching, channel sampling, use of metal tracked
equipment and rubber-tired equipment, surveys using a generator and
road or trail building covering restricted fire zones over
specified areas, are prohibited in order to protect public safety
and facilitate effective fire suppression.
LAURION reports that its drilling program at the Ishkoday
Property has thus been paused due to a very active fire season
across Northern Ontario with high
temperatures, dry conditions and frequent thunderstorms
contributing to multiple large forest fires, and thus temporarily
rendering the field environment unsafe for drilling on the Ishkoday
Property. LAURION will monitor the situation closely and will
safely resume its full exploration and drilling activities
immediately after the Emergency Area Order is lifted.
The Ishkoday Property is located 28 km north-east of the town of
Beardmore and 220 km north-east of
Thunder Bay, Ontario.
The LAURION exploration team has met its planned 2021
exploration planning targets. LAURION has completed 60% of its
drill program target of 10,000 m to
date and is awaiting further assay results to consolidate,
integrate and correlate the assay results into its GIS database and
3D modelling, prior to reporting to its investors. LAURION
has fortuitously completed its planned program of stripping,
trenching and channel sampling of the A-Zone and MacLeod Zone. The
Corporation is also awaiting the final assays of the channel
sampling on both of these zones.
During this Emergency Area Order period, LAURION will continue
with its exploration program of prospecting and geochemical
soil sampling following up on geophysical surveys of anomalies
north of the Namewaminikan River, ensuring the safety of its
exploration team while cognizant of the dry conditions of the
field.
Qualified Person
The technical information in this news release has been prepared
in accordance with Canadian regulatory requirements and has been
reviewed and approved by Jean Philippe
Paiement, P Geo., a consultant to Laurion, and a "qualified
person" within the meaning of National Instrument 43-101.
About LAURION
The Corporation is a junior mineral exploration and development
company listed on the TSXV under the symbol LME and on the OTCPINK
under the symbol LMEFF. LAURION now has 233,473,342 outstanding
shares of which approximately 79% 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 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.