TORONTO / ACCESSWIRE / May 14,
2014 / Laurion Mineral Exploration Inc. (TSX.V: LME; OTCQX:
LMEFF) ("Laurion") is pleased to announce as the
initial step to define a phase-one drill program, the results of
two strategic diamond drill holes totalling 424m on the high grade
polymetallic “A” Zone of the Loki Trend, Ishkoday Property located
220km north east of Thunder Bay, Ontario.
Important results of the drill program are:
- The known dip extent of the total mineralized zone has
increased from 75m to 165m, more than doubling the dip length.
- The estimated thickness of the alteration zone has also
increased from approximately 20m to 40m in width, possibly
reflecting proximity to the mineralizing source.
- Deeper intersections in the mineralized zone are somewhat
richer in copper, with higher associated silver values. This may
also be indicating a transition to closer proximity to mineralizing
source with depth.
- There are multiple narrow lenses of higher grade
mineralization within a broader mineralized alteration halo.
Sulphide lenses may vary from less than a metre to several tens of
metres thick and have highly variable length and widths.
- Unmineralized porphyritic diorite dykes cut through and likely
displace the mineralized zones. This is a common feature of
syngenetic VMS deposits. The term syngenetic refers to mineral
deposits that are interpreted to have formed on the seafloor more
or less at the same time as the host rocks.
Assays from drill holes LBX14-018 and LBX14-019 are as
follows:
Significant assay values with drill hole intercept length and
estimated true width are contained in the table above. True widths
are estimated based on the known geometry of the zone from 8 holes
drilled in 2012 that are proximal to the two current drill
holes.
Cross sections of diamond drill holes LBX14-018 and LBX14-019
can be viewed at:
http://www.laurion.ca/s/ishkoday.asp?ReportID=552927
The two drill holes were completed in April 2014, and followed
up on the high grade drilling results associated with the Loki
Trend “A” Zone mineralization. In the October 18, 2012 press
release, an intercept of 3.31 g/t Au, 18.1 g/t Ag, 0.09% Cu
and 3.72% Zn over 12.84m was reported, and included
a 5.25 g/t Au, 40.1 g/t Ag, 0.29% Cu, 8.38% Zn and 1.24% Pb
over 4.04m in diamond drill hole LBX12-010. Holes
LBX14-018 and LBX14-019 were designed to test down the dip
extension of mineralization intersected in LBX12-010.
Hole LBX14-018 was drilled sub-parallel to and approximately 50m
down dip of the intersection in LBX12-010 and in the core of the
zone intersected 0.40 g/t Au, 4.3 g/t Ag, 0.09% Cu and 1.03% Zn
over 7.84m. It was designed to cross the mineralized stratigraphy
at a high angle (approximately normal to dip and strike).
HoleLBX14-019 was designed to intersect the zone at a highly
oblique angle (down dip hole). This hole was drilled to document
the change in style and grade of mineralization in the “A” Zone,
and to ascertain whether there was continuity of grade over
significant dip length in the zone, and to determine controlling
structures on the higher grade portions of the zone. This hole was
collared in the centre of the mineralized structure and remained in
variable mineralization until 162.37m down hole where it passed
through the footwall contact of the mineralized zone into the
alteration envelope. Included within the mineralized zone are two
diorite porphyry dykes that cut through and likely displace the
mineralized zone at 33.79m to 36.25m and 71.00m to 78.90m, and
these intervals have essentially zero grade. The latter dyke cut
through part of the higher grade intersection. Because of the
oblique angle of drilling the true widths of the mineralized zones
in LBX14-019 are much less than the drill lengths (see table).
The best drill intercept within this zone was 2.27 g/t Au,
10.1 g/t Ag, 0.09% Cu and 2.05% Zn over 10.22m (estimated 2.66m
true width). The true width of the mineralized zones is based on
drilling, including holes LBX14-018 and 019; and LBX12-001, 002,
007, 008, 009 and 010. A true thickness for the entire mineralized
zone is 35m to 40m.
In addition to the assays for metals, analysis is underway to
provide major and minor element whole rock information to help with
determining the intensity and nature of the alteration package
associated with the base and precious metal mineralization.
These data, taken together with a planned program of downhole and
surface geophysics, will assist in defining vectors to the
mineralizing source which can be tested in the next stage of
drilling.
All sampling from this diamond drill program was delivered by
GeoVector Management Inc. personnel to the Activation Laboratories
("Actlabs") facility in Thunder Bay and/or Geraldton. Actlabs is an
ISO/IEC 17025 accredited analytical laboratory. Analysis for gold
was by fire assay with AA finish, followed by fire assay with
gravimetric finish for samples over 3.0 g/t Au. Samples were also
treated with a multi-acid ICP process, and base metal values over
detection limit were treated to ore grade base metal assays.
Analytical accuracy and precision are monitored at the laboratory
by the analysis of reagent blanks, reference material and replicate
samples. Quality control is further assured by the use of
international and in-house standards. GeoVector also routinely
inserted blanks and certified standards into the sample stream in
order to independently assess analytical accuracy. All certified
standard assays were within acceptable limits.
The technical information contained in this news release has
been verified by Joe Campbell, P.Geo., consulting geologist with
GeoVector Management Inc. Mr. Campbell is the project manager for
Laurion's Ishkoday project and is a Qualified Person as defined in
"National Instrument 43-101, Standards of Disclosure for Mineral
Properties."
Projected Exploration Planning and
Outlook
Laurion’s goal is to discover gold-rich massive sulphides at
Ishkoday. To help this, Laurion is developing a “fingerprint” or
model of the mineralization by comparing it to other known
deposits. Based on the current drilling information, the
model is stacked gold-rich massive sulphide lenses hosting base
metals (silver-copper-zinc) within a large mineralized halo.
Over the next 6 months, Laurion’s objective is to
complete a program composed of the following:
- An aerial survey utilizing a UAV (“Unmanned Aerial Vehicle”)
system for low-cost, high-resolution aerial photography over a
specified area of 4.5km² to produce a set of accurate aerial base
maps. The UAV output can be used to generate geo-referenced
orthophotos and 3D digital elevation models (DEM’s) with a ground
resolution up to 4.0cm. Unlike traditional aerial photography and
LIDAR, the cost of surveying with the UAV aerial mapping system is
low enough that actively-changing environments can be flown as
frequently as needed, capturing change-with-time at low cost.
- A 4-5 day property visit involving structural and volcanogenic
massive sulphide experts retained by Laurion to examine key
outcrops and collect structural orientation data, undertake
sampling and geochemical analyses with the objectives of producing
regional targeting concepts, recommendations for effective
exploration techniques, and the definition of priority target
zones.
- These data will be complemented with a program of 10km of
IPower 3D ground geophysical surveys perpendicular to the strike of
the 3,000m long Loki Trend. These techniques will help define
lithologic contacts and controlling structures. In addition, key
rock units, contact zones and alteration zones
likely associated with mineralization, will be more clearly
identified.
- Following key target identification together with
existing projected targets, a phase one exploration drill program
composed of 6,500m of diamond drilling will focus on testing the
depth extent of the significant three 3,000m each long gold-zinc
rich trends with in a 1km wide corridor, targeting the core
of the VMS style mineralization and possible associated feeder
structures.
- A program of mapping and prospecting is also planned along a
further trend to the south of the three massive sulphide
trends.
About Laurion Minerals Exploration Inc.
Laurion’s Ishkoday discovery project is harnessed within a 100%
owned 4,442ha property package, located 220km northeast of Thunder
Bay with easy access off the Trans-Canada Highway.
Laurion is focussed on unlocking the value of the Ishkoday gold
and base metal environment hosted within three base metal trends,
3,000m each in strike length, in a 1km wide corridor. Laurion is
expanding on a legacy of gold production from the Ishkoday shaft
which is hosted in a significant gold environment.
Laurion’s balanced and diversified management team is results
driven and has achieved a decade of growth through asset
monetization. Laurion’s management objective is to advance the
Ishkoday project from discovery to value creation to exit
strategy.
FOR FURTHER INFORMATION, CONTACT:
Laurion Mineral Exploration Inc.
Cynthia Le Sueur-Aquin - President
Tel: 1-705-788-9186
Fax: 1-705-788-9187
Website: http://www.laurion.ca/
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
This news release includes certain forward-looking statements
concerning the future performance of Laurion's business, operations
and financial performance and condition, as well as management's
objectives, strategies, beliefs and intentions. Such statements
include, but are not limited to, statements concerning the approval
of Laurion's application to trade its common shares over the
facilities of the OTCQX and the commencement of such trading.
Forward-looking statements are frequently identified by such words
as "may", "will", "plan", "expect", "anticipate", "estimate",
"intend" and similar words referring to future events and results.
Forward-looking statements are based on the current opinions and
expectations of management. All forward-looking information is
inherently uncertain and subject to a variety of assumptions, risks
and uncertainties, including the speculative nature of mineral
exploration and development, fluctuating commodity prices,
competitive risks and the availability of financing, as described
in more detail in our recent securities filings available at
www.sedar.com. Actual events or results may differ materially from
those projected in the forward-looking statements and Laurion
cautions against placing undue reliance thereon. Laurion and its
management assume no obligation to revise or update these forward
looking statements.
Source: Laurion Mineral Exploration Inc.
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