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TORONTO, Aug. 14, 2018 (GLOBE NEWSWIRE) — Laurion Mineral Exploration Inc. (TSX.V: LME) and (OTCPINK: LMEFF) (“Laurion” or the “Corporation”) is pleased to announce the first precious and base metals assay results from initial May-June 2018 validation program (the “Stage 1 Campaign”) at the Corporation’s 47 km2 Ishkoday Project (“Ishkoday”).
The field validation exploration program consisted of geological mapping and prospecting of selective historic mineralized veins and their extensions, and in new areas. New mineralized occurrences were manually stripped, cleaned and mapped. Grab and whenever possible deep channel samples were taken for gold and multi-element analysis.
The appended Table 1 summarizes the most significant selective field grab and channel sample results in Gold (Au), Silver (Ag), Copper (Cu) and Zinc (Zn). Assay results highlights include:
- Of the total samples taken some 14% of the samples (45 of 322 selective field samples) were anomalous in either gold, silver, copper or zinc or any combination of these elements, and most were located in the southern 3km by 1km Target Area (with a few exceptions)(Figure 1);
- 33 assay results >0.30 g/t gold and 6 assay results >18 g/t gold. All are in quartz veins with the highest values located in channel samples with Visible Gold from the 85-A2 yielding 40.80, 43.00 and 1,185.00 g/t gold. However, two selective grab samples were not. One is located in a chlorite-sericite schist with trace pyrite yielding 27.50 g/t gold; and a second, in a porphyry with 1% pyrite gave 28.40 g/t gold;
- 10 assay results >12 g/t silver and 4 assay results >34.28 g/t (1 oz/ton) silver. Half the anomalous silver results were found in sericite-chlorite-sulphide schists (up to 30.20 and 47.10 g/t silver); the other half in quartz veins (up to 86.40 and 112.00 g/t gold);
- 1 assay result >1% copper in a diorite/granodiorite porphyry (1.61% copper); and
- 13 assay results >1% zinc. Anomalous zinc is found in four rock settings: rhyolites/dacites/rhyodacites (up to 1.74% zinc), sericite-chlorite schists (up to 3.26% and 12.00% zinc), chlorite veins (1.89% zinc) and quartz veins (up to 2.82% zinc).
Figure 1 outlines selective assay results >0.3 g/t gold and >1% zinc set on a backdrop of the Phoenix Gold (1988) quartz vein highlighting a selective number of historic channel sampling gold interval and gold-zinc grab samples results, as well as the Kodiak Exploration (2010) VTEM B-Field Z Component Time Gate 6.125ms geophysical survey maps showing one of the significant unexplored NE-SW trending conductors, which is on trend to a number of known zinc-sulphide veins at Ishkoday.
These selective field sample assay results and additional multi-element geochemical results with correlation factors and additional detailed location maps will be made available in the coming weeks as Laurion initiates the second stage work program.
For link to Figure 1 please see URL http://www.laurion.org/2018 accessed on the Corporation’s website at http://www.laurion.ca or at www.laurion.org
Laurion’s Exploration Campaign
Laurion’s new exploration work with the objective of ascertaining the bulk gold and gold/base metal upside potential at Ishkoday commenced in May of this year – the first of an 18 month three-staged program. Field observations to date, based on the work in the 3km by 1km SE portion of Ishkoday, the Target Area, indicates a NE-SW trending and extensive quartz and polymetallic vein system as host to the gold and gold/base metals mineralization. Additional field work is required to confirm the lateral and cross-strike continuity of the mineralization, and to determine if a bulk tonnage resources model still makes sense. Once confirmed and a geology-mineralization model is built in 2D, Laurion would initiate diamond drilling to prove the model in 3-D.
Field prospecting and mapping identified two multi-kilometric quartz veins systems within the Target Area, the historic “85-A” and “Marge-F” quartz veins sectors (see the Corporation’s news release dated July 31, 2018). Both contain abundant multi-directional and anastomosing quartz veins. The “85-A” Vein sector defines a minimum 1,500m long by 500m wide corridor and contains 56 centimeter to meter wide quartz veins, one of which, the “A-2” Vein is multi-kilometric long. The “85-A2” Vein shows interconnected 045° and 020° oriented quartz veining forming anastomosing stockworks.
In addition to the quartz veins, there are a minimum six polymetallic-sulphide veins of various metric lengths and widths are believed to be centered on “volcanic vents”, associated with mafic/felsic dykes, silicification and quartz veining, granodiorite-diorite porphyries, rhyolite and rhyodacite (brecciated) flows and tuffs, secondary brecciation, chlorite alteration as veins; and sphalerite, chalcopyrite and galena, magnetite, gold and silver
It will be essential to determine if most or a selective portion of the hundreds of quartz veins identified by previous workers, and now by Laurion, carry gold, and if the gold mineralization is restricted to certain areas, whether high level intrusives, such as the porphyry of the Sturgeon River Mine, and/or polymetallic veins and/or structurally more deformed corridors, such as in quartz-sericite schists as identified in several outcrops of the Target Area.
The planned work to be initiated later in Q3-2018, as part of if the Second Stage work, will include mechanized and manual outcrop stripping, channel sampling and assaying along several strategic NW-SE 400m to 500m outcrop stripping lines (the “Lines”) as a first pass assessment of the bulk gold-quartz and gold-polymetallic (copper-zinc) veins in the Target Area.
Quality Assurance and Quality Control (“QA-QC”)
A total of 322 field samples (not 367 as previously stated) were taken from Ishkoday: 82 channel samples from the Jack quartz-sericite-chlorite-sulphide schists and the 85-A2 quartz vein, and 240 selective grab samples from the quartz veins of the northern claims and both quartz and polymetallic veins from the southern claim blocks. An additional 26 standards, blanks and duplicates were added for QA-QC, for a total of 348 analyzed samples.
Individual field samples were taken by prospectors and geologists, and inserted in individual plastic bags, each with ALS sample tags. Samples were checked, catalogued and bags sealed by the Senior Project Geologist, then placed in large numbered nylon bags with standards, blanks and duplicates. The bags were then sealed and transported by Explo-Logik employees to the ALS facilities in Val-d’Or for gold and multi-element analysis.
Once at the ALS facilities, samples are catalogued with the bar coding system, dried, weighed, crushed, pulverized to 70% <2mm, and riffle-split sample is taken for final pulverization to 85% <75µm. A final split is taken for multi-element ICP-AES analysis (gold plus 33 elements) and ore grade finish on anomalous results in gold, silver, copper and zinc).
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 137,965,639 outstanding shares of which 54% are owned and controlled by Insiders and within the ‘friends and family’ category.
The Corporation’s emphasis is on the development of its flagship project, the 100% owned mid-stage Ishkoday Project, and its gold-silver and gold-rich polymetallic mineralization with a significant upside potential.
The Corporation has a property-wide database of 283 diamond drill holes totaling 40,729 m, detailed sampling, mapping, assays and geochemical analysis, and ground geophysics. The mineralization 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 “Mine”). The Mine produced 73,322 ounces of gold, and 15,929 ounces of silver from 1936 to 1942 on the No. 3 Vein at 24 g/t gold, and generated a large gold and silver bearing stockpile of 144,070 tonnes grading 1.59 g/t gold in the Indicated Mineral Resources category (based on a NI 43 -101 Technical Report filed on SEDAR in June 2013 – refer to the Corporation’s news release dated April 23, 2013).
Mr. Jean Lafleur, P. Geo. (APGO, OGQ), Laurion’s Technical Advisor to the Board of Directors, is a Qualified Person as defined by National Instrument 43-101 guidelines, and has reviewed and approved the content of this news release.
FOR FURTHER INFORMATION, CONTACT:
Laurion Mineral Exploration Inc.
Cynthia Le Sueur-Aquin – President and CEO
Tel: 1-705-788-9186
Fax: 1-705-805-9256
Website: http://www.laurion.ca
For links to photos and images of the Ishkoday Project, please visit the Corporation’s website at URL http://www.laurion.ca or LinkedIn at URL https://www.linkedin.com/in/cynthia-le-sueur-aquin-04b03017/detail/recent-activity/
The Viewer should note that images and photos displayed on these websites show selected mineralization that may not necessarily be representative of the mineralization hosted on the Ishkoday Gold Project.
Follow us on Twitter: @Laurion_LME
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 details, anticipated timing and completion of the transactions and other matters described in this press release, including without limitation, the timing, completion and future results of the Corporation’s exploration program at Ishkoday. 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.
Table 1: Summary of the most significant selective field grab and channel sample results in Gold (Au), Silver (Ag), Copper (Cu) and Zinc (Zn) from the May-June 2018 Stage 1 Campaign at the Corporation’s Ishkoday Gold Project.
| UTM NAD 83 ZONE 16 | GOLD | SILVER | COPPER | ZINC | ||||
| SAMPLE # | EASTING | NORTHING | G/T | G/T | PPM | PPM | SAMPLE TYPE | COMMENTS |
| Rhyolites/Dacites/Rhyodacites | ||||||||
| X864001 | 445013 | 5511053 | 0.05 | 3.90 | 424 | 1.74* | Grab sample | Rhyolite, siliceous, quartz veins, 5% pyrite, trace chalcopyrite |
| X864066 | 444872 | 5512992 | 1.16 | 0.70 | trace | trace | Grab sample | Rhyolite, 1% pyrite |
| X864067 | 444872 | 5512992 | 2.50 | 1.10 | trace | trace | Grab sample | Rhyolite, quartz-epidote vein, 1% pyrite |
| X864006 | 445337 | 5511546 | 0.06 | trace | 116 | 1.09* | Grab sample | Rhyolite, siliceous, chloritized, 5% pyrite, 1% sphalerite |
| X864264 | 445237 | 5512001 | 0.05 | 1.90 | 545 | 1.15* | Grab sample | Rhyodacite, 2% pyrite-galena- malachite-chalcopyrite |
| X864103 | 441489 | 5511528 | 0.29 | trace | 226 | trace | Grab sample | Dacite, quartz veins, chlorite, 3% pyrite |
| X864077 | 443733 | 5512858 | 6.56 | 1.20 | trace | 109 | Grab sample | Rhyolite, quartz veins |
| Sericite Schists (Chlorite) | ||||||||
| X864217 | 445779 | 5512258 | 0.56 | 0.50 | trace | 132 | Grab sample | Sericite schist, 1% pyrite |
| X864219 | 445825 | 5512248 | 0.39 | 2.20 | 436 | 6140 | Grab sample | Sericite-chlorite schist, 2% pyrite-chalcopyrite-malachite |
| X864251 | 444421 | 5510694 | 0.34 | 13.80* | trace | 3100 | Grab sample | Sericite-chlorite schist, 2% pyrite |
| X864046 | 444986 | 5510973 | 0.30 | 3.10 | 476 | 273 | Channel sample | Jack Showing channel sample, quartz-sericite-chlorite schist, 0.5-10% pyrite-sphalerite-chalcopyrite-malachite |
| X864278 | 445315 | 5512029 | 0.54 | 12.50* | 3480 | 3230 | Grab sample | Chlorite-sericite schist, 3% pyrite |
| X864285 | 445073 | 5511789 | 27.50** | 3.30 | trace | trace | Grab sample | Sericite-chlorite schist, trace pyrite |
| X864199 | 445283 | 5512215 | 0.15 | 30.20* | 4630 | 2.16* | Grab sample | Chlorite-sericite schist, 3% pyrite-chalcopyrite |
| X864200 | 445351 | 5512096 | 2.00 | 17.90* | 645 | 12.00* | Grab sample | Chlorite-sericite schist, 10% pyrite-chalcopyrite-malachite |
| X864201 | 445322 | 5512170 | 0.04 | 47.10* | 4500 | 1050 | Grab sample | Chalcopyrite vein, chlorite, 10% pyrite-chalcopyrite |
| X864205 | 445527 | 5512346 | 0.05 | 4.40 | 195 | 3.26* | Grab sample | Chlorite-sericite schist, 3% pyrite-chalcopyrite-sphalerite-galena |
| Chlorite Veins | ||||||||
| X864003 | 445209 | 5511430 | 0.01 | trace | trace | 1.89* | Grab sample | Chloritized vein with pyrite, 060° |
| Diorite/Granodiorite Porphyries | ||||||||
| X864073 | 445372 | 5513299 | 0.18 | 5.10 | 1.61* | 155 | Grab sample | Fine grained diorite, quartz-epidote veins, 1% pyrite-malachite |
| X864076 | 443726 | 5512860 | 1.46 | 1.00 | trace | 170 | Grab sample | Quartz diorite, quartz veins, 1% pyrite |
| X864121 | 446133 | 5511326 | 28.40** | 3.80 | trace | trace | Grab sample | Granodiorite, quartz-plagioclase-Kspar, deformed, laminated, sericite, 1% pyrite |
| Quartz Veins | ||||||||
| X864010 | 445117 | 5511603 | 0.19 | 30.90* | 5320 | 1.60* | Grab sample | Quartz veins in rhyodacite, 180°, chlorite-sulphide laminations, 3% pyrite-chalcopyrite-malachite |
| X864012 | 445334 | 5511882 | 0.10 | 2.80 | 548 | 1.96* | Grab sample | Quartz vein (15cm), chloritized, 195°, 5% pyrite, trace chalcopyrite |
| X864013 | 445326 | 5511871 | 1.98** | 1.20 | trace | 3060 | Grab sample | Quartz vein (15cm), chloritized, 195°, 1% pyrite |
| X864062 | 445015 | 5511714 | 0.55 | 86.40* | 2.91 | 1.03* | Grab sample | Quartz vein, 10% pyrite-chalcopyrite-sphalerite, 170° |
| X864007 | 445472 | 5511746 | 0.94 | 0.60 | trace | trace | Grab sample | Granular quartz vein, sulphide veinlets, 040°, 0.5% pyrite |
| X864279 | 445315 | 5512021 | 1.10 | 52.80* | 9120 | 2.82* | Grab sample | Quartz vein, trace chalcopyrite-malachite |
| X864124 | 443068 | 5510812 | 1.78 | 5.80 | trace | 203 | Grab sample | Quartz vein, sericite, 4% pyrite |
| X864130 | 438777 | 5514514 | 0.58 | trace | trace | 175 | Grab sample | Quartz-pyrite vein, chlorite, 4% pyrite |
| X864297 | 437264 | 5512708 | 0.49 | trace | trace | trace | Grab sample | Rusty quartz vein, trace pyrite |
| X864206 | 445656 | 5512448 | 2.86 | 6.20 | 459 | 1570 | Grab sample | 1% pyrite-chalcopyrite |
| X864209 | 446132 | 5512388 | 0.29 | 4.90 | 507 | 4160 | Grab sample | 3% pyrite |
| X864212 | 445909 | 5512390 | 0.76 | 1.30 | 851 | 180 | Grab sample | 0.5% pyrite-chalcopyrite |
| X864304 | 445175 | 5511618 | 0.47 | trace | trace | 433 | Channel sample | Channel sample 85-A2 quartz vein |
| X864319 | 445175 | 5511618 | 0.07 | 5.80 | 1005 | 1.75* | Channel sample | Channel sample 85-A2 quartz vein |
| X864325 | 445175 | 5511618 | 2.07 | 0.60 | 652 | trace | Channel sample | Channel sample 85-A2 quartz vein |
| X864339 | 445175 | 5511618 | 0.43 | trace | 109 | 304 | Channel sample | Channel sample 85-A2 quartz vein |
| X864340 | 445175 | 5511618 | 18.50** | 7.10 | trace | 255 | Channel sample | Channel sample 85-A2 quartz vein |
| X864342 | 445236 | 5511708 | 1185.00** | 112.00* | trace | trace | Grab sample | 85-A2 vein, VG, 1% pyrite |
| X864343 | 445236 | 5511708 | 8.91 | 2.00 | trace | trace | Grab sample | 85-A2 vein, trace pyrite |
| X864344 | 445236 | 5511708 | 7.28 | 2.20 | trace | trace | Grab sample | 85-A2 vein, chlorite, sericite, 1% pyrite |
| X864345 | 445262 | 5511734 | 43.00** | 6.50 | trace | trace | Grab sample | 85-A2 vein, VG, 1% pyrite |
| X864346 | 445187 | 5511427 | 2.99 | 2.60 | 125 | 1.11* | Grab sample | Wall rock to previous sample, chlorite, sericite, 8% pyrite |
| X864347 | 445190 | 5511659 | 40.80** | 20.30* | trace | 106 | Grab sample | 85-A2 vein, 5% pyrite-sphalerite |
| X864348 | 445190 | 5511659 | 1.23 | 1.40 | trace | 458 | Grab sample | 85-A2 vein, sericite, 5% pyrite |
| Notes: | ||||||||
| Gold Analysis by Au-ICP22 Method (g/t) | ||||||||
| Silver-Copper-Zinc analysis done by ME-ICP61 (ppm) | ||||||||
| * Using the Ag-OG62 for silver (g/t), Zn-OG62 for Zinc (%) and Cu-OG62 for Copper (%) | ||||||||
| ** Using Au-GRA22 for Gold (g/t) | ||||||||