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TORONTO , Sept. 29, 2020 /CNW/ - LAURION Mineral Exploration Inc. (TSXV: LME) and (OTCPINK: LMEFF) ("LAURION" or the "Corporation") is pleased to announce the commencement of the second phase of 2020 drilling at the Ishkoday Project, located near the town of Beardmore, Ontario . This 2,500 m drill program will test mineralization both along and across strike at the CRK Zone.
The CRK Zone lies along the Loki trend corridor and is located between the A-Zone and the past-producing Sturgeon Mine ( Figure 1 ). Trenching in 2019 exposed a northeast-trending, 370 m -long corridor of both polymetallic (gold-silver-copper-zinc) mineralization and gold-bearing quartz veins, as well as north-trending polymetallic mineralization. Cross trenching exposed a second, northeast-trending, subparallel zone, located approximately 120 m across strike. Fourteen nearby historic and LAURION drill holes tested the main CRK trend, returning sporadic high grade gold values, but did not test for north-trending horizons which recent work indicates are a major control on gold mineralization.
Semi-continuous channel sampling on the CRK Zone has identified low-grade mineralized widths ranging up to 8.5 m across strike in the northeast-trending mineralization. In areas where the northeast and north trending mineralization converges, both the width and grade increase (see news releases dated September 12 , 24, October 18 , 25, 29 and November 12, 2019 for further details).
Ongoing mapping shows at least three north to northwest trending and at least two northeast trending mineralized zones, with untested potential beneath cover including two nearby swamps. The intersection areas have the potential to host wider mineralization ( Figure 2 ) and this drill program is designed both to check for additional zones and test the width of these intersections.
Qualified Person
Mr. David Lewis , P. Geo. (PGO), LAURION 's Exploration Manager, is a Qualified Person as defined by National Instrument 43-101 and has reviewed and approved the content of this news release.
All core and channel samples have been assayed by ALS Laboratories in Thunder Bay, Ontario . Samples are processed by 4-acid digestion and analyzed by fire assay on 50 g pulps and ICP-AES (Inductively-Coupled-Plasma – Atomic-Element-Spectroscopy). Over limit analyses are reprocessed with gravimetric finish. LAURION employs an industry standard QA/QC program including insertion of blanks, duplicates and standards. Core samples are sawn by core saw on site (cut perpendicular to mineralization), with one-half of the core sent in secure bags to ALS Laboratories.
About LAURION Mineral Exploration Inc.
The Corporation is a junior mineral exploration and development company listed on the TSX-V under the symbol LME and on the OTCPINK under the symbol LMEFF. LAURION now has 197,139,978 outstanding shares of which collectively 'Insiders', 'Family' and 'Friends of family members' own and control approximately 71.2% of total outstanding shares.
LAURION's emphasis is on the development of its flagship project, the 100% owned mid-stage 47 km 2 Ishkoday Project, and its gold-silver and gold-rich polymetallic mineralization with a significant upside potential. The mineralization on Ishkoday is open at depth beyond the current core-drilling limit of -200 m from surface, based on the historical mining to a -685 m depth, in the past producing Sturgeon River Mine. The recently acquired Brenbar Property, which is contiguous with the Ishkoday Property, hosts the historic Brenbar Mine and LAURION believes that the mineralization to be a direct extension of mineralization from the Ishkoday Property.
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, and management's objectives, strategies, beliefs and intentions. 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.
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SOURCE Laurion Mineral Exploration Inc.