TORONTO, March 15,
2023 /CNW/ - LAURION Mineral Exploration Inc.
(TSX.V: LME) (OTCPINK: LMEFF) ("LAURION" or the
"Corporation"), is excited to announce that the 2023
exploration campaign has commenced at its wholly-owned Ishkoday
gold-polymetallic property (the "Ishkoday Project"), which
aims to continue enhancing LAURION's shareholder value. The
Ishkoday Project is located in northwestern Ontario, 56 kilometres west of Geraldton, and just 10 kilometres north of the
Trans-Canada highway No. 11 along Provincial Road 801.
The Ishkoday Property features numerous occurrences of gold and
polymetallic mineralization, which comprise multiple centimetre to
metre wide veins and related mineralized zones, over a 6 km long
and up to 1 km wide overall trend.
Over the past two years, an interpretive breakthrough by
LAURION's team of geologists has allowed for significant
advances on the Ishkoday Project. It suggests that Ishkoday
occurrences are the product of two separate and distinct
mineralizing events separated in time by 40 million years. Both
mineralizing events are believed to be exploiting the same
structural pathways. The mineralization can be classified as: (i)
epithermal polymetallic sulphide veins; and (ii) mesothermal
(orogenic) quartz vein hosted gold.
The 2023 exploration campaign will focus on the orogenic gold
corridor associated with the Niish Shear Zone, and those areas
where there is potential for a sufficient concentration/density of
the several well-mineralized veins. Given insights derived from the
recent breakthrough work, the area within the western sector of the
Ishkoday Property, and particularly the area between the historical
Sturgeon River and Brenbar Mines, is of marked interest. The
historic Sturgeon River Mine data further suggests that
mineralization may be more extensive at depth and along strike.
The 2023 exploration campaign will consist of three field-based
components, as follows:
- Relogging and resampling of historical drill holes focusing on
critical alteration and/or structural features, which may delineate
or highlight previously unrecognized areas hosting mineral
potential.
- The second component will focus on a larger target area that
may facilitate the delineation of potential mineralized extensions
of the historical gold mines.
- A diamond drilling program comprising of up to 5,000
metres.
In light of its re-evaluation of the Ishkoday Property and
consequent enhanced interpreted potential of the Sturgeon River
Mine area, in particular, management has decided to focus on
completing additional surface work and drilling in the area of the
shaft and stockpiles, prior to committing the capital necessary to
process the stockpile resources. For further information, please
see the Corporation's National Instrument 43-101-compliant
Technical Report entitled "Technical Report on the Resource
Estimate on the Sturgeon River Mine Waste Pile and Tailings,
Ishkoday Property, Northern
Ontario", dated June 7, 2013,
which is available on SEDAR, as well as the Corporation's news
release dated April 23,
2013.
LAURION has recently completed the Baseline Environmental
Studies through Blue Heron Solutions. Blue Heron will continue the
permitting for the processing of the surface stockpiles.
With the new insights and exploration tools now available to
LAURION's technical team, management looks forward to this year's
field program with great anticipation. Core reinterpretation and
relogging is scheduled to begin in mid-March and field work in
mid-May, subject to weather conditions. LAURION will provide
further updates through subsequent news releases in due course and
as appropriate.
Qualified Person
The technical contents of this
release were reviewed and approved by Jean-Philippe Paiement, PGeo, MSc, a consultant
to LAURION, and a qualified person as defined by National
Instrument 43-101 – Standards of Disclosure for Mineral
Projects.
About LAURION Mineral Exploration Inc.
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 256,809,855 outstanding
shares of which approximately 80% are owned and controlled by
Insiders who are eligible investors under the "Friends and Family"
categories.
LAURION remains focused on advancing its flagship project, the
100%-owned Ishkoday gold-polymetallic property, located in
northwestern Ontario just over 50
kilometers west of the town of Geraldton and 12 kilometers north of
Trans-Canada Highway No. 11 along Road 801.
Website: http://www.LAURION.ca
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 Corporation's ability to advance the Ishkoday
Project, and the nature, focus, timing and potential results of the
Corporation's future exploration efforts, including its planned
activities for Ishkoday in 2023. 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 and future 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.
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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.