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Multi-bagger junior mining stock reports more promising grades

 Trevor Abes Trevor Abes , The Market Online
0 Comments| August 23, 2024

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  • Laurion Mineral Exploration (TSXV:LME), a multi-bagger junior mining stock, encountered more high-grade gold in grab and channel samples taken this summer at its Ishkõday project in Ontario
  • Channel samples yielded up to 24.9 g/t gold across 0.65 m while grab samples yielded up to 73.2 g/t gold
  • Laurion is a junior mineral exploration and development company focused on its gold-rich polymetallic Ishkõday project 220 km northeast of Thunder Bay, Ontario
  • Laurion Mineral Exploration stock has added 2.5 per cent year-over-year and 156.25 per cent since 2019

Laurion Mineral Exploration (TSXV:LME), a multi-bagger junior mining stock, encountered more high-grade gold in grab and channel samples taken this summer at its Ishkõday project in Ontario.

The summer 2024 exploration program began in mid-May and has consisted of prospecting in numerous areas of interest, including the Ziibi zone, the Sturgeon River mine area and the Twin Falls property.

Ziibi zone

The Ziibi Zone, located to the northeast of the Sturgeon River mine, was trenched, power washed and channel sampled before undergoing geological mapping to further delineate mineralization. Highlight samples include:

  • 0.25 grams per ton (g/t) of gold, 7.2 g/t silver and 1.20 per cent copper (grab sample).
  • 2.28 g/t gold, 3.4 g/t silver and 0.56 per cent copper (grab sample).
  • 5.91 g/t gold over 1.04 m (channel sample).
  • 1.61 g/t gold over 0.75 m (channel sample).

85 zone (Sturgeon River mine area)

Laurion then turned its attention to excavating, power washing and further channel sampling the 85A and 85M veins discovered in the Sturgeon River mine area during the 2023 summer field season.

The company’s efforts led to prospective grades on the 85M2 and 85M3 zones, located approximately 540 m and 380 m northwest of the Sturgeon River mine, respectively, which are characterized by quartz veins and shears within altered felsic volcanic host rock. Highlight channel samples from these two zones include:

  • 24.9 g/t gold over 0.65 m.
  • 21 g/t gold over 0.75 m.
  • 9.36 g/t gold over 0.35 m.
  • 7.48 g/t gold over 0.43 m.
  • 2.83 g/t gold over 0.95 m.
  • 4.19 g/t gold over 0.25 m.
  • 4.69 g/t gold and 13.1 g/t silver over 0.30 m.
  • 4.02 g/t gold over 0.50 m.
  • 1.365 g/t gold and 37.7 g/t silver over 0.85 m.

Twin Falls property

The Twin Falls property, acquired in 2023, spans 10.46 square kilometres hosting numerous orogenic gold occurrences contiguous with the Ishkõday project and only 7 km west of the Sturgeon River mine. Highlight summer grab samples include:

  • 73.20 g/t gold.
  • 61.50 g/t gold.
  • 14.20 g/t gold.
  • 13.10 g/t gold and 31.4 g/t silver.
  • 5.08 g/t gold.
  • 4.53 g/t gold and 132 g/t silver.
  • 3.33 g/t gold and 125 g/t silver.
  • 1.24 g/t gold and 10.2 g/t silver.
  • 0.84 g/t gold.
  • 0.61 g/t gold.
  • 0.22 g/t gold and 18.2 g/t silver.

Leadership insights

“We are incredibly pleased with the progress and results from our summer 2024 exploration program,” Cynthia Le Sueur-Aquin, Laurion Mineral Exploration’s president and chief executive officer, said in a statement. “The high-grade gold and some copper values we have encountered, particularly within the channel samples, yielded up to 24.9 g/t gold and 37.7 g/t silver across 0.65 m, along with grab samples yielding values up to 73.2 g/t gold and 132 g/t silver. These assay results are a testament to the mineral potential of the Ishkõday project. The Laurion team’s meticulous approach to exploration, including trenching, power washing and detailed mapping, has returned exactly the kind of results we had anticipated, and these findings provide us with a good foundation for the next phase of our work. Laurion remains committed to realizing the full potential of the Ishkõday project, and we believe that the results bring us one step closer to achieving that vision.”

About Laurion Mineral Exploration

Laurion is a junior mineral exploration and development company focused on its gold-rich polymetallic Ishkõday project 220 km northeast of Thunder Bay, Ontario. Insiders own approximately 72 per cent of outstanding shares.

Laurion Mineral Exploration stock (TSXV:LME) last traded at C$0.41 per share. The stock has added 2.5 per cent year-over-year and 156.25 per cent since 2019.

Join the discussion: Find out what everybody’s saying about this multi-bagger junior gold, silver and copper mining stock on the Laurion Mineral Exploration Inc. Bullboard and check out Stockhouse’s stock forums and message boards.

The material provided in this article is for information only and should not be treated as investment advice. For full disclaimer information, please click here.

(Top photo of Tom Kraft, a member of Laurion’s geological team, conducting comprehensive geological mapping on the Ishkõday project: Laurion Mineral Exploration)



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