Laurion announces third new polymetallic discovery linked to Oxide-Sulphide and Quartz veins from the CRK zone at the Ishkoday Project

 

• Oxide-Sulphide Vein yielding 3.25m @ 1.44 g/t gold, 6.37 g/t silver, 2.42% zinc, 0.08% copper, 0.01% lead and 1.37m @ 1.39 g/t gold, 9.84 g/t silver, 3.68% zinc, 0.10% copper, 0.04% lead
• Quartz Vein grading up to 0.76m @ 13.85 g/t gold, 5.20 g/t silver

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TORONTO, Oct. 25, 2019 /CNW/ - Laurion Mineral Exploration Inc. (TSX-V: LME; OTCPINK: LMEFF) ("LAURION" or the "Corporation") is pleased to announce new assay results (the "Results") from channel sampling at the newly discovered magnetite-chlorite-actinolite-sulphide ("Oxide-Sulphide") and distinct quartz veins in the NE segment ("#56-65 Trenches") of the CRK Zone (Figure 1) at the Corporation's wholly-owned Ishkoday Project ("Ishkoday"), located 220 km northeast of Thunder Bay, Ontario.

LAURION's individual and composite interval channel samples assay results greater than 1 g/t gold and/or greater than 1% zinc from the new 50m by 15m Trench #56, and  is contiguous to the SE 70m by 10m Trench #65 (Figures 2 and 3), which are summarized in Table 1 below.  Highlights are as follows:

 

The Oxide-Sulphide Veins are late 030°-045° trending shears, post-dating the earlier 320°-020° trending Sulphide and 000°-045° trending Quartz Veins, that are also found elsewhere on Ishkoday and specifically at the Main, North and West segments of the CRK Zone in Trenches 32, 33 ("A-5 Quartz and Sulphide Veins), 34 (Azurite), 35 (Ahki), 36 (Main Trench), 37 (SW), 39 ("SJ" Sulphide Veins) and 54 (V-series Quartz and Sulphide Veins). Trenches #36 (Main Trench) and #32 combine all three vein-types. Assays results are still pending.

The Oxide-Sulphide Vein widths are centimetre to metre wide, and are continuous over 100's meters. These are typical shear veins, which are brecciated and schistose, and generally carry lower metal grades than the classic Sulphide Veins, likely picking up metal from the late remobilization of nearby Sulphide and Quartz Veins.
The geophysical magnetic highs observed over the CRK Zone coincide with the location of the Oxide-Sulphide Veins due to the nearly massive centimeter-wide stringers of black magnetite).

Table 1. 2019 Individual and Interval Channel Sample Assay Results greater than 1 g/t gold and/or greater than 1% zinc from the new #56-65 Trenches Oxide-Sulphide and Quartz Veins.

 

The combined 120m long by 10-15m wide #56-65 Trenches features continuous Oxide-Sulphide and separate Quartz Veins ("A-2" Quartz Veins), located 200m north of the previously announced channel sample assay results from the SW Segment (Trench #39), (refer to the Corporation's news release dated October 18, 2019), which yielded up to 1.11m @ 4.97 g/t gold, 8.00 g/t silver, 1.35% zinc, 0.20% copper, 0.04% lead, 1.06m @ 0.18 g/t gold, 45.69 g/t silver, 25.00% zinc, 0.03% copper, 6.21% lead; and 1.55m @ 0.72 g/t gold, 5.10 g/t silver, 2.19% zinc, 0.08% copper, 0.24% lead.

They are also located 250m NE of the previously announced channel sample assay results from the SW Segment (Trench #37) (refer to the Corporation's news release dated September 12, 2019) which yielded up to 1.00m @ 9.66 g/t gold, 14.6 g/t silver, 2.09% zinc, 0.30% copper in a single sample, and a composite interval of two samples giving 1.78m @ 4.34 g/t gold, 27.02 g/t silver, 4.27% zinc, 0.28% copper.

The previously announced interval channel samples assay results from the Azurite Segment Trench #34 are located 250m due W of the #56-65 Trenches, and yielded up to 7.50m @ 0.90 g/t gold, 35.26 g/t silver, 5.71% zinc, 0.53% copper (refer to the Corporation's news release dated September 24, 2019).

Pending channel assay results from the remaining 400m by 400m central portion of the CRK Zone sulphide and quartz veins are expected later in the Q4-2019. These include the CRK West (#32/62 Trenches), Main (#36 Trench) and SE (#54 Trench) segments.

Refer to maps on LAURION's website and #56-65 Trenches (Figures 1, 2 and 3) using the following link:
http://www.laurion.org/ishkoday-project/highlights/2019-field-exploration-program/ 

QA-QC Protocols

Samples for assay from this program are initially processed and prepared by ALS Global Geochemistry in Thunder Bay (Ontario), with pulps sent to and analyzed by ALS Global Analytical Lab in North Vancouver (BC), using the Fire Assay method of analysis. LAURION employs an industry standard system of external standards, blanks and duplicates for all its sampling in addition to the QA/QC protocol employed by the laboratory.

Each channel sample was individually cut using a double-bladed saw by a LAURION field technician to lengths chosen by the senior geologists, approximately a 5cm width and 10cm depth. Individual samples weighed from 3 to 8kg. Each channel was sampled by LAURION field technicians, and inserted in individual plastic bags, each with ALS sample tags, and sealed. Metal tags with the ALS sample number were inserted at the beginning of each sample channel cut. The field data gathered includes sample number, azimuth of the channel, channel/sample lengths, geology and geo-reference using UTM coordinates.

Individual plastic sample bags were then returned to the LAURION field office where they are catalogued and inserted in large nylon bags with standards, blanks and duplicates in a pre-established sequence. The nylon bags were then sealed and transported by LAURION technicians to the ALS facility in Thunder Bay. Ontario. Once at ALS, individual samples are again catalogued using the bar coding system, dried, weighed, crushed, pulverized to 70% <2mm, and riffle-split for final pulverization to 85% <75µm. A final 50 gram pulp split is taken for Fire Assay using Au-ICP22 gold analysis up to 10,000 ppb gold. Samples giving results beyond 10,000 ppb gold are re-analyzed with a new 50 gram pulp split to ore grade levels using a gravimetric finish.

The Four Acid Digestion with ICP-AES Finish is used for multi-elements analysis that includes silver, zinc, copper and lead. Zinc, copper and lead values greater than 10,000ppm are re-analyzed using the Four Acid Overlimit Methods with results given in percent.

Qualified Persons

Mr. Jean Lafleur, P. Geo. (PGO, OGQ). LAURION's VP Exploration is a Qualified Person as defined by National Instrument 43-101 and has reviewed and approved the technical content of this news release. 

About Laurion

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 168,622,044 outstanding shares of which approximately 59% 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 44 km² Ishkoday Project, and its gold-silver and gold-rich polymetallic mineralization with a significant upside potential. Ishkoday has a project-wide database (2008 to 2018) that includes 283 diamond drill holes totaling 40,729 m, geological mapping, ground and airborne geophysics, and 14,992 individual samples with assays and geochemical analysis. 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, as evidenced in the past producing Sturgeon River Mine.

The 2018-2019 exploration initiated in May 2018 is a three-staged 18-month program with the strategic objective of outlining the precious and base metals upside potential at Ishkoday, part of the 5km by 1km Target Area of the southern claims block. The Exploration Team has confirmed the extent of known and new gold bearing quartz and polymetallic sulphide veins that will ultimately help in completing the construction of the 2-D and 3-D model and helping guide future exploration targeting. This Model will provide LAURION with a solid technical foundation to initiate diamond drilling to demonstrate upside potential across the 5km by 1 km Target Area at Ishkoday as part of the Stage 3 drill program starting later in 2019 and in 2020. The field portion of the Stage 2 Campaign is now completed.

Caution Regarding Forward-Looking Information

This news release contains forward-looking statements, which reflect the Corporation's current expectations regarding future events and plans for the development of the Corporation and/or the Ishkoday Gold Project, 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 Corporation's common shares, 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.

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.

Table 2. 2019 individual and interval channel assay results from the newly discovered Oxide-Sulphide and Quartz Veins of the NE-SE segment of the CRK Zone in #56-65 Trenches.

 

Legend
DIO – Diorite host rock; QV – Quartz Vein ("A-2" Quartz Vein); QV-P – In-vein sampling parallel to the quartz vein; MAGSV – Magnetite-Actinolite-Chlorite bearing Sulphide Vein ("Oxide-Sulphide" Vein).

SOURCE Laurion Mineral Exploration Inc.

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