TORONTO, Oct. 25,
2022 /CNW/ - LAURION Mineral Exploration Inc.
(TSXV: LME) and (OTCPINK: LMEFF) ("LAURION" or the
"Corporation"), is very pleased to announce the assay
results for two (2) new diamond drill holes, totaling 600 m, which tested the undrilled potential
continuity of mineralization in the southwestern portion of the
McLeod Zone. The drill holes intersected orogenic style
mineralization associated with the Niish shear zone (Figure 1),
confirming the high-grade gold potential of this type of
mineralization at the Ishkoday Property. This newly identified
high-grade structure is open both on strike and at depth.
"The 2022 drill program continues to demonstrate the
continuity of the current mineralized zones but also identified new
high-grade potential along the main shear zone in undrilled
areas," stated Cynthia Le
Sueur-Aquin, President and CEO of LAURION. "The drill
results confirm the depth extension of the mineralization
identified on surface at the McLeod area. These results
significantly increase the gold mineral exploration potential of
the Ishkoday Property."
The McLeod Zone is located along the 6 km long Au-Zn-Cu-Ag
mineralized trend at the Ishkoday project, near Beardmore, Ontario.
Drilling Highlights:
The results for hole LBX22-088 to LBX22-089 include the
following intersections:
Hole
ID
|
From
(m)
|
To
(m)
|
Core Length
(m)
|
True Width*
(m)
|
Au
(g/t)
|
Zn
(%)
|
Cu
(%)
|
Ag
(g/t)
|
LBX22-088
|
94.00
|
96.00
|
2.00
|
1.60
|
0.82
|
0.44
|
0.06
|
3.80
|
including
|
94.60
|
95.13
|
0.53
|
0.42
|
2.47
|
1.00
|
0.16
|
10.00
|
LBX22-088
|
128.50
|
130.50
|
2.00
|
1.60
|
2.46
|
0.64
|
0.25
|
17.10
|
including
|
129.50
|
130.50
|
1.00
|
0.80
|
4.59
|
0.98
|
0.47
|
27.50
|
LBX22-089
|
31.00
|
37.10
|
6.10
|
4.88
|
1.30
|
0.03
|
0.00
|
1.70
|
including
|
32.50
|
34.00
|
1.50
|
1.20
|
4.18
|
0.05
|
0.02
|
2.80
|
including
|
35.00
|
36.00
|
1.00
|
0.80
|
1.03
|
0.02
|
0.00
|
1.10
|
LBX22-089
|
70.50
|
73.05
|
2.55
|
2.04
|
2.50
|
1.17
|
0.02
|
7.96
|
including
|
72.50
|
73.05
|
0.55
|
0.44
|
8.91
|
4.67
|
0.04
|
21.80
|
including
|
72.00
|
72.50
|
0.50
|
0.40
|
2.60
|
0.33
|
0.03
|
7.30
|
LBX22-089
|
83.00
|
86.00
|
3.00
|
2.40
|
0.93
|
1.13
|
0.02
|
6.57
|
including
|
83.00
|
84.00
|
1.00
|
0.80
|
2.56
|
3.23
|
0.05
|
16.30
|
LBX22-089
|
290.15
|
290.85
|
0.70
|
0.56
|
1.65
|
0.00
|
0.00
|
0.70
|
* True Widths Are
Calculated Based on an Average Dip of 70° Towards 330° for the
Mineralized Zones
|
Drill hole LBX22-088 is located 80
m southwest of drill hole LBX22-084 and tested the
continuity of a strong I.P. chargeability high anomaly below the
McLeod Zone and is associated with the Niish shear zone.
Drill hole LBX22-089 is located 100
m NE of drill hole LBX22-088. This hole targeted the
southeastern continuity of high-grade sulphide zone in the McLeod
Area, 400 m southwest of the A-Zone.
Past drilling in the area (LBX20-021) returned assay results of
5.95 g/t gold, 29.6 g/t silver over 0.49
m; 6.98 g/t gold, 15.2 g/t silver, 1.93 % zinc over
0.57 m; and 0.89 g/t gold, 4.0 g/t
silver and 1.04 % zinc over 14.08
m.
LAURION is pleased with its key exploration milestones achieved
in 2022, validating the 6 km x 2.5 km mineralized corridor and
extending the A-Zone to the McLeod Zone by 400 m to 1.4 km, thereby significantly increasing
the gold potential of the property by identifying this new orogenic
mineralization associated with the Niish Shear zone.
The Corporation is awaiting the remaining 5 drill hole assay
results.
Figure 1: Surface interpretation of the Ishkoday (A-Zone to CRK
corridor) mineralized zones and results for hole LBX22-088 and
LBX22-089
Sampling
Analysis and Laboratory
Samples from the 2022 drilling were cut and sent for analysis.
Preparation and analysis were completed at the Actlabs (ISO
9001:2015) laboratory in Thunder
Bay. Actlabs is an internationally recognized laboratory
that provides geochemical sample preparation, analytical
procedures, and data management solutions. LAURION uses a quality
assurance/quality control (QA/QC) program that monitors the chain
of custody of samples and includes the insertion of blanks (5% of
the announced results), duplicates (1.3% of the announced results),
and standard reference material (5% of the announced results) in
each batch of samples sent for analysis. Drill core is
photographed, logged, and cut in half with one half retained in a
secured location for verification purposes and one half shipped for
analysis. The entire sample is crushed to 80% passing 2 mm and a
riffle split of 250 grams is taken and pulverized to 95% passing
105 µm (RX1). Samples are analyzed by four-acid digestion/ICP-MS
package for 36 elements (1F2). Additionally, samples are analyzed
for Au using a firing assay from a 50-gram pulp (1A2B-50).
Overlimit samples values for zinc (>1%) and Pb (>0.5%) are
re-assayed using a four-acid digestion overlimit method with
ICP-AES 9 (8-4 Acid over limit). No QA/QC issues were noted with
the results reported herein.
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 255,969,855 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 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.
Since 2003, Laurion has: completed multiple exploration surveys
on the property, including prospecting, mapping, geochemical (grab,
channel and soil sampling), ground and airborne geophysical (Mag,
IP, VLF-EM), 3D modelling, airborne (LiDAR) and drilling surveys;
invited experts in geophysics and in economic and structural
geology to visit and review the property; and undertaken a PhD
thesis and research led by Laurentian
University and Metal Earth. To date, 419 drill holes for a
total of 78,663 m have been drilled
on the property, including 43,396 m
completed by Laurion from 2010 to 2014 and from 2020 to 2022 and
35,267 m historic drill holes. Most
of the drill holes are closely spaced and concentrated within the
A-Zone and McLeod zone, except for some largely spaced drill holes
located along the Ishkoday mineralized trend.
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, and the Corporation's ability to advance the Ishkoday
Project. 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.