TORONTO, June 6, 2023
/CNW/ - LAURION Mineral Exploration Inc. (TSXV: LME) (OTC:
LMEFF) ("LAURION" or the "Corporation") is pleased to
announce that it has completed two test campaigns of sensor-based
ore sorting from the Sturgeon River Mine surface stockpile. The
test work was completed by the Saskatchewan Research Council
("SRC").
Stated Cynthia Le Sueur-Aquin,
President and CEO of LAURION: "The Ishkoday stockpile
mineralization responds very well to both laser and colour
sensor-based sorting. We are optimistic that laser and colour
sensor-based sorting will reduce downstream processing costs.
During the trade-off study, it became apparent that if mill
throughput rates are low (250 – 1000t/day), the cost of ore sorting
could be prohibitive. CAPEX and OPEX savings can be anticipated
with further definition of inground resources that will warrant a
processing plant that will process more than 1,000t/day.
Sensor-based sorting may very well improve the economics of the
project and result in a more compact processing facility. If the
stockpile at the Ishkoday site is to be representative of the host
rock from #1 and #3 gold bearing veins on the property, the
assumption is that if sensor-based sorting can be successfully
implemented on the stockpile, then it will likely be applicable to
potential unmined resources in the vicinity of the mine
area."
The first test campaign was based on samples from the stockpile
sent for ore sorting targeted gold bearing minerals based on visual
inspection and were shipped in bags categorized by their mineral
content. The sampling's objective was to test the amenability of
sorting particles with X-Ray Transmission (XRT) which sorts by
difference in particle density combined with laser illumination
(laser technology) sorting which utilizes a sensor to detect the
light diffraction reflected from particles. Both technologies could
select high grade particles to some extent, but the laser
technology proved to be more effective.
The XRT testwork indicated a potential to reject 30% of the
coarse particles and accept 70% while upgrading the sample by 15%
(from 5.9g/t head grade to 7.8g/t head grade), with a sorting
efficiency of 72%. (Sorting efficiency is the number of particles
above cut-off grade that report to the accepts pile divided by the
total number of particles that are above cut-off grade.) These
results are sub-par and are likely a result of minimal particle
density differential between gangue and mineralization.
Laser illumination sorting showed more promising results, since
much of the gold appears to be associated with quartz in the
mineralized samples tested. The laser sorting resulted in upgrading
the sample by 75% (from 5.9g/t head grade to 10.4g/t head grade)
with a sorting efficiency of 74.4%.
The second test campaign's sample was a large sample taken from
the stockpile with an excavator, crushed and split before shipping
to SRC. The second sample is more representative of the
mineralization in the stockpile. This sample was washed and
screened out to material below 10mm (generally considered
un-sortable in this process). The amount of minus 10mm material
made up approximately 50% of the mass of the sample. One hundred
+10mm particles were then selected at random to test laser and
colorimetric sensors. A semi-empirical model for the laser
sorter was established that indicated 69% of the mineralization
could be rejected as waste while only losing 0.6% of the gold to
the reject pile. The test work upgraded the mineralization by 220%
(from 2.63g/t head grade to 8.42g/t head grade) which exceeded
expectations.
Similar results came from the colorimetric testing with a reject
rate of 60% with a loss to the reject pile of 0.94% of the gold and
an upgrading of 145% (From 2.63g/t head grade to 6.44g/t head
grade) in the accepts pile.
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, the results of the test campaigns
described herein, the potential use and impact of sensor-based ore
sorting, 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.
SOURCE Laurion Mineral Exploration Inc.