Laurion drills 70.65 m of 3.9 g/t Au at Ishkoday
2021-01-19 13:09 ET - News Release
Ms. Cynthia Le Sueur-Aquin reports
LAURION DRILLS 70.7 M IN NEW TARGET ZONE GRADING 3.90 G/T GOLD, 6.46 G/T SILVER, 0.25 % COPPER AND 0.40 % ZINC AT ISHKODAY PROJECT, ONTARIO
Laurion Mineral Exploration Inc. has released final assay results for the remaining two drill holes of the 10-hole, 2,962-metre phase 2 drill campaign, completed at the Ishkoday project. The Ishkoday Project is located approximately 220 km northeast of Thunder Bay, Ontario, near the town of Beardmore in the Onaman-Tashota Greenstone Belt.
HIGHLIGHTS
Drill Hole LME20-031:
3.90 g/t Gold, 6.46 g/t Silver, 0.25 % Copper, 0.40 % Zinc over 70.65 m
High grade interval assayed 48.69 g/t Gold, 35.98 g/t Silver, 1.14 % Copper over 5.40 m, including 441 g/t Gold, 191 g/t Silver over 0.57 m
A plan map of mineralization and a vertical drill section is presented in Figure 1 and a map showing conceptual extensional zones related to gold mineralization is shown in Figure 2.
David Lewis, P.Geo., LAURION Exploration Manager, commented: "The new mineralized intersection in hole LME20-031, which is the most substantive outlined in the current program, is hosted in a N-trending extensional shear zone, in a comparable structure to the historic Sturgeon River and Brenbar mines. Furthermore, the mineralized zone widens significantly at depth, comparable to what is reported in historical records of the Sturgeon River Mine. This is a major new target zone that is completely open along strike and at depth, and future exploration will focus on delineating the strike length and depth potential of this zone, as well as outlining similar targets elsewhere on this extensive property."
Discussion of Mineralization
The mineralized area, known historically as Area D, was drilled by Farboro Resources in 1987 with seven shallow holes to a maximum vertical depth of 140 m and restricted to 200 m along strike. The best historic mineralized intersection, drilled prior to the introduction of current standards under N.I. 43-101, was in hole 88-33, which intersected 18.7 m grading 0.30 g/t gold, 4.31 g/t silver, 0.15 % copper and 1.18 % zinc.
Hole LME20-030 was a twin of historic hole 88-33 and hole LME20-031 was designed as a follow-up to further test mineralization down dip. The widening mineralized interval in hole LME20-031, which occurs between a vertical depth of 250- 305 m, establishes and validates this new exploration target.
Hole LME20-030: 141.5 to 160.0 m - Precious and base metal mineralization is hosted in a shear zone
Hole LME20-031:
352.5 to 371.0 m - Precious and base metal mineralization is hosted in a shear zone, corresponding to the sheared mineralization in hole LME20-030
392.3 to 397.7 m - Mineralization occurs in fine quartz veining in a potentially sheared interval, including semi-massive chalcopyrite veins
402.0 to 423.15 m - Mineralization occurs in blebby chalcopyrite
Significant assays and drill hole position and orientation data are presented in Table 1. Re-assay data results for selected samples from hole LME20-031 is presented in Table 2.
Table 1: Significant assay results and drill position and orientations for drill holes LME20-030 and LME20-031 Hole ID From (m)To (m)Length (m)Calculated true width (m)Gold (g/t)Silver (g/t)Copper (wt%)Zinc (wt%) LME20-0302.32 3.00 0.68 0.27 0.54 0.7 0.01 0.12 32.00 33.50 1.5 0.60 0.69 0 0 0.02 141.50 160.0018.50 7.34 0.18 14.64 0.21 3.26 Including141.50 145.504.00 1.59 0.14 15.56 0.17 3.69 And 150.00 150.740.74 0.29 0.97 1.50 0.03 0.32 And 155.32 160.004.68 1.86 0.43 43.83 0.67 9.61 LME20-031131.50 137.005.50 4.43 0.80 4.32 0.10 0.41 306.50 307.000.50 0.40 0.09 3.70 0.06 4.10 352.50 423.1570.65 56.90 3.90 6.46 0.25 0.40 Including352.50 371.0018.50 14.90 0.66 11.19 0.47 1.22 And 392.30 397.705.40 4.35 48.69 35.98 1.14 0.23 Including392.30 393.000.70 0.56 14.40 4.60 0.12 0.02 Including396.00 396.570.57 0.46 441.00 191.00 0.57 0.14 And 402.00 423.1521.15 17.03 0.02 2.19 0.10 0.16 LME20-030: 445837 mE, 5512790 mN, 323 m ASL. Azimuth: 145degree, Dip: -45degree, Depth: 176 m LME20-031: 446126 mE, 5512535 mN, 327 m ASL. Azimuth: 300degree, Dip: -50degree, Depth: 443 m