TORONTO, Jan. 24,
2023 /CNW/ - LAURION Mineral Exploration Inc.
(TSXV: LME) (OTCPINK: LMEFF) ("LAURION" or the
"Corporation"), is pleased to provide a progress report to
its shareholders to date, on its 100%-owned Ishkoday property and
share its developing plans for 2023.
In the Corporation's view, significant advances in exploration
of the Ishkoday property were achieved during 2022, leading to a
much better understanding of the genetic processes involved in the
combined gold-base metals mineralization seen within a large
corridor across the property, which exceeds 1 kilometre in width in
places and is estimated to be at least 6 kilometres long. The
metal endowment within this significant volume of rock is rich;
vectoring in to where it is concentrated in an exploitable volume
of rock remains the ongoing focus of exploration.
Insights and understanding obtained during the 2022 field season
will now drive this effort. The anastomosed swarm of gold
and/or base metal mineralized structures that comprise the
Ishkoday complex shows great diversity of mineral and alteration
assemblages hosted within a similarly diverse set of overlapping
structures. However, the 2022 exploration program enabled Laurion
to highlight two distinct mineralizing events separated in time and
distinct in metal association.
The first mineralizing event, informally referred to as
"Ishkoday style", is characterized by zinc-dominated mineralization
also hosting variable concentrations of copper, lead, gold and
silver. This mineralization was emplaced mainly as veins within
structures that comprise a fault zone between two intrusive stocks,
that was in turn intruded by a series of intermediate dykes.
The Ishkoday event could be related to nearby porphyry-type
mineralization generated in a shallow intrusive complex. Age dating
indicates that some 40 million years later, an orogenic system
likely originating from a splay of the nearby Paint Lake fault, emplaced orogenic
gold-bearing quartz vein-type mineralization, referred to as
"Sturgeon River style", exploiting parts of the same fault system
as that where earlier, Ishkoday style gold-base metal
mineralization was emplaced, along with new structures generated
within. A more detailed presentation on "The Ishkoday Story" is
currently in preparation and will soon be available at LAURION's
website for its shareholders.
An example of minerlization diversity at Ishkoday can be seen in
recently obtained results from channel sampling completed at the
end of the 2022 summer field season, a selection of which is
displayed in the table below. The distinction between, and
overlap of, the two mineralizing events is readily inferred from
the various groupings displayed in this table.
Group
|
Location
|
From
|
To
|
Length
|
Au
(ppm)
|
Ag
(ppm)
|
Cu
(ppm)
|
Zn (ppm)
|
Pb
(ppm)
|
Low gold, low
base metals
|
Animoosh Line
1
|
1
|
3
|
2
|
0.0
|
0
|
88
|
1,388
|
39
|
Gab Line
29
|
0.5
|
1.4
|
0.9
|
0.1
|
0
|
34
|
157
|
5
|
Low gold,
moderate base
metals
|
Animoosh Line
1
|
0
|
0.5
|
0.5
|
0.2
|
2
|
1,150
|
7,140
|
59
|
Gab Line 3
|
1.4
|
1.8
|
0.4
|
0.1
|
6
|
2,420
|
43,700
|
37
|
Gabe Line
5
|
0.6
|
1.3
|
0.67
|
0.1
|
12
|
4,910
|
56,100
|
34
|
Moderate gold,
low to
moderate base
metals
|
Animoosh Line
12
|
0
|
0.7
|
0.7
|
0.8
|
1
|
161
|
12,800
|
15
|
Gab Line
37
|
0
|
0.5
|
0.5
|
0.28
|
35
|
9,380
|
21,700
|
276
|
Animoosh Line
22
|
0
|
0.9
|
0.9
|
0.8
|
8
|
2,160
|
4,700
|
102
|
High gold, low
base metals
|
Gab Line
15
|
2.7
|
3.6
|
0.9
|
26.6
|
11
|
455
|
350
|
8
|
J2 Line 11
|
6.6
|
7.8
|
1.2
|
5.9
|
3
|
34
|
175
|
8
|
Gab Line
15
|
2.7
|
4.1
|
1.4
|
17.1
|
7
|
376
|
497
|
8
|
J2 Line 11
|
6.6
|
7
|
0.4
|
17.4
|
8
|
13
|
92
|
13
|
The refined exploration model now available in light of this
improved understanding of mineralization seen at Ishkoday and as
corroborated in sample data such as that displayed above, enables
LAURION's exploration team to focus forthcoming field efforts where
critical features such as alteration style along with structure, as
well as mineralization, indicate the presence of, or potential for,
Sturgeon River style orogenic gold mineralization either alone
and/or superimposed upon earlier Ishkoday style gold-base metals
mineralization. The planned exploration activity will focus on
zones of potential concentrated mineralized structures as to
conceivably generate the grade and tonnage necessary to be
considered for potential development. The exploration program is
expected to include detailed mapping in and around the historical
Sturgeon River gold mine where a more brittle fracture style of
orogenic (Sturgeon River style) gold mineralization is known, in
order to determine where additional mineralized structures may be
concentrated.
Part of the Corporation's future exporation efforts will include
revisiting and relogging select historical drill holes to identify
any zones where these same features, the significance of which is
now more clearly understood, may indicate potential that was
previously overlooked. All new data generated in these
combined field and relogging efforts will be fed into the evolving
three-dimensional deposit model, the objective being the
delineation of targets for the Corporation's planned drill
program.
The abundance of both gold and base metals endownment throughout
the mineralized corridor that comprises the Ishkoday mineral
system, appears to be evidence of large volumes of metal-bearing
hydrothermal fluids having migrated through a large volume of rock.
LAURION aims to locate where one or both of the two foundational
mineralizing events – Ishkoday then Sturgeon River – were
sufficiently well focused within one or more portions of this
corridor. LAURION is very pleased with this interpretive
breakthrough it has achieved and encouraged with the exploration
potential that this may portend. The Corporation looks forward to
providing updates and additional information to its shareholders
throughout 2023.
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'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.
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 and potential results of the
Corporation's future exploration efforts, including its planned
exploration activities for the Ishkoday project 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.
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.