TORONTO, May 16, 2023
/CNW/ - LAURION Mineral Exploration Inc. (TSXV: LME)
and (OTC: LMEFF) ("LAURION" or the "Corporation") is
pleased to announce that it has contracted Precision GeoSurveys
Inc. of Langley, British Columbia
to perform a large-scale, helicopter-borne high resolution gradient
magnetic data at the Ishkoday Project located 60 km west of
Geraldton and 220 km north-east of
Thunder Bay, Ontario.
Stated Cynthia Le Sueur-Aquin,
CEO and President of LAURION: "We are very pleased to be working
with Precision, a Canadian and global leader in airborne
geophysics. The airborne survey, set to start in the coming week,
will be flown in a systematic 50 metre line spacing
at a nominal altitude of 40
m, and will cover a large percentage of the
Ishkoday Project. The high-resolution magnetic and
gradiometer survey will be a key tool used by Ishkoday's
exploration team to map folding, shearing and faulting in
detail, in this structurally complex gold -polymetallic
project. This work will help guide our exploration
through the balance of 2023 and into what will be an exciting year
ahead for Ishkoday."
The survey will provide uniform, high-resolution magnetic data
coverage of the Ishkoday Project at better resolution than existing
surveys that cover only parts of the property. The high-resolution
3-axis magnetic gradiometer survey will help to map subtle
structures that may not have been delineated in previous surveys,
including over the past-producing Sturgeon River and Brenbar Mines.
The main target of this year's exploration is structurally
controlled gold mineralization and therefore an understanding of
the structural setting is particularly important.
The magnetic geophysical survey will be 882 line km at
50 m spacing over one survey block of
40.4km2 and will utilize four Scintrex CS-3 (or equivalent) cesium
vapor magnetometer sensors with 0.0006 nT √Hz RMS sensitivity in a
proprietary non-magnetic and non-conductive survey bird for
triaxial magnetic gradient and total magnetic intensity
measurements. The Helicopter, a Bell 206, is configured with a
laser altimeter, attitude sensor, and its own GPS receiver. This
system allows the horizontal and vertical gradients to be measured
directly across two sensors and delivers unsurpassed total field
and oriented gradient data.
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 OTC
under the symbol LMEFF. LAURION now has 256,909,855 outstanding
shares of which approximately 80% are owned and controlled by
Insiders who are eligible investors under the "Friends and Family"
categories.
LAURION's emphasis is on the exploration and development of its
flagship project, the 100% owned mid-stage 47 km2
Ishkoday Project, and its gold-rich polymetallic
mineralization.
LAURION's chief priority remains maximizing shareholder
value while simultaneously embracing and considering the principles
and best practices of environmental, social, and corporate
governance (ESG) issues. A large portion of the Corporation's focus
in this regard falls within the ambit of its mineral exploration
activities and more specifically, advancing the Ishkoday
Project.
A consequence of LAURION's success and advancement
over the past several years is that the Corporation has become
positioned as an acquisition target for appropriate
potential acquirors. Accordingly, the Corporation's Board of
Directors is aware that possible strategic alternatives and
transactional opportunities may arise and/or could be procured in
the short or medium terms. The Corporation will promptly issue a
press release if any material change occurs. In the meanwhile,
LAURION will continue to explore opportunities and potential
transactions that are strategically beneficial to the Corporation
and its shareholders.
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, the nature, focus, timing and potential results of the
Corporation's future exploration efforts, including its planned
activities for Ishkoday in 2023, and any possible strategic
alternatives and transactional opportunities that may arise and/or
could be procured in the future. 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.
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.