Sampling of the Laurion Channel on Zone A identifies high grade polymetallic mineralization


TORONTO, August 24, 2021 / CNW / – Laurion Mineral Exploration Inc. (TSXV: LME) (OTCPINK: LMEFF) (“LAURION” or the “Company”) is pleased to announce the results of the 2021 channel sampling program on Zone A and the McLeod sectors on the Ishkoday property, located 220 km northeast of Thunder bay.

Strong points:

  • Stripping of the northeastern portion of Zone A, exposed surface mineralization that corresponds to a historic intersection of high grade diamond drill holes. The stripping on zone A revealed a series of subparallel horizons with folded semi-massive lenses, harboring up to 45% sulphides (See figure 4).
  • A newly discovered polymetallic vein, the Pond, was located to the southeast and sub-parallel to the McLeod quartz vein. This new mineralized zone contains gold, silver, copper, lead and zinc over a strike length of 130m and a width up to 2.7 m (See figures 5 and 6).
  • Current assay results, combined with new geological understanding, confirm the presence of early volcanogenic mineralization (type A-Zone) which is, in turn, overprinted by a subsequent orogenic venous event. Both events harbor Au mineralization and are polymetallic in nature, due to remobilization of primary sulphides.

Summary of Zone A:

As part of the summer 2021 exploration program at Ishkoday, the northeast extension of Zone A was stripped, revealing lenses of semi-massive sulphides. In total, five (5) subparallel mineralized horizons were discovered, all oriented to the northeast. These horizons converge towards what has been interpreted as a fold hinge, with a lens-shaped sulphide reconcentration. These sulphide lenses consist of brecciated quartz in a sulphide matrix composed of pyrite, chalcopyrite, sphalerite and galena (see figure 1) and are part of the volcanogenic mineralization of the Ishkoday property. A total of 82 channels were sampled in the extension of the newly discovered Zone A and 255 samples were taken from all trenches (see key test results in Table 1).

Table 1: Selected key results of channel sampling on area A.

Channel line

Of

TO

Length

At g / t

Ag g / t

% cu

% bp

Zn%

AZ-L13

0.00

4.84

4.84

2.70

41.98

0.31

0.90

6.81

including

0.72

2.27

1.55

4.88

87.34

0.66

1.51

11.69

AZ-L14

7.93

10.32

2.39

1.82

18.59

0.30

0.14

2.01

AZ-L11

0.00

2.38

2.38

1.03

12.84

0.15

0.03

1.82

AZ-L30

0.53

3.77

3.24

1.21

1.83

0.01

0.01

0.69

AZ-L10

0.00

1.35

1.35

0.67

38.31

0.19

0.03

4.36

Summary of the McLeod zone:

The main objective of the stripping at McLeod was to expose the mineralization hosted in veins since the historic stripping on the McLeod had revealed a quartz vein one meter wide on 130m lengthways. The Laurion stripping effort revealed a series of subparallel quartz-sulphide veins, trending southwest with a steep dip to the northwest. These orientations are comparable to those observed in zone A. Sampling was concentrated on the 2 main veins: 1) the McLeod quartz vein and 2) the newly discovered polymetallic vein called the Pond (see Figure 2).

The McLeod quartz vein contains a low pyrite content (<2%), with alteration to sericite and chlorite. A section of the vein is cut by a regional shear zone and presents a breccia texture with strong epidote and chlorite alteration. McLeod’s sheared quartz vein was electrically washed for approximately 7 meters and four samples were taken. Highlights of sampling at the McLeod quartz vein are presented in Table 2.

Table 2: Results of channel sampling on the McLeod quartz vein.

Sample #

Length

At g / t

Ag g / t

2060

0.45

23.60

19.50

2061

0.68

0.96

5.80

2062

0.89

28.90

16.90

2063

0.40

0.88

3.20

The pond is a polymetallic vein composed of brecciated quartz in a sulfide-chlorite matrix and is 0.30 m To 1.3 m large. Rock wall mineralization was also identified at the edges of the veins. The mineralization contains up to 75% sulphides composed mainly of pyrite, sphalerite and grains of chalcopyrite and galena (see figure 3). Pond’s mineralization appears to have a longitudinal extent of 750 meters and is interpreted to represent the continuity of exposed “V” veins in a transverse trench of the CRK Zone located further west of the McLeod Zone. The mineralization of the Pond zone is similar to what was observed on the A zone, which includes a succession of subparallel lenses rich in sulphides composed of a quartz breccia with a matrix rich in sulphides (see key results in table 3).

Interpretation of the LiDAR survey revealed historic trenches running the length of the McLeod Zone, which were re-exposed and sampled. These results are pending. In addition, LiDAR information and historical drilling on Zone A and the McLeod lead Laurion to believe that sulphide-rich mineralization could extend as far as 1,600 m in strike length. Infill diamond drilling between the A Zone and the McLeod Zone is currently in progress.

Table 3: Results from the polymetallic pond area located on McLeod.

Channel line

Of

TO

Length

At g / t

Ag g / t

% cu

% bp

Zn%

TP-L12

0.00

0.37

0.37

12.80

142.00

0.44

0.19

2.82

TP-L04

0.00

1.42

1.42

9.66

40.25

0.05

0.32

0.27

With

0.00

0.47

0.47

4:30 p.m.

55.10

0.06

0.15

0.27

TP-L03

0.00

1.96

1.96

4.45

25.64

0.08

0.27

0.35

TP-L06

0.00

1.72

1.72

2.56

35.79

0.08

0.68

1.93

With

0.00

0.46

0.46

7.93

116.00

0.25

2.49

6.46

TP-L14

0.00

1.75

1.75

1.98

51.77

0.12

0.15

2.87

Qualified person

The technical information contained in this press release has been prepared in accordance with Canadian regulatory requirements and has been reviewed and approved by Jean-Philippe Payment, PGeo, MSc, a consultant to Laurion, and a “qualified person” within the meaning of National Instrument 43-101.

About LAURION

The Company is a junior mining exploration and development company listed on the TSX Venture Exchange under the symbol LME and on the OTCPINK under the symbol LMEFF. LAURION now has 233,473,342 shares outstanding, of which approximately 79% are owned and controlled by insiders who are eligible investors in the “Friends and Family” categories.

LAURION focuses on the development of its flagship project, the mid-stage 47 km 100% owned2 Ishkoday Project, and its polymetallic mineralization rich in gold-silver and gold with significant upside potential. Mineralization on Ishkoday is open at depth beyond the current core limit of -200m of the surface, based on historical mining at a -685m depth, in the past producing the Sturgeon River mine. The Brenbar property, acquired in 2020, is contiguous with the Ishkoday property, which houses the historic Brenbar mine. LAURION believes the mineralization is a direct extension of the mineralization of the Ishkoday property.

Caution regarding forward-looking information

This press release contains forward-looking statements, which reflect the Company’s current expectations regarding future events, including with respect to the business, operations and condition of LAURION, and the objectives, strategies, beliefs and intentions of the Company. direction. 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, in particular due to a change in the price of LAURION’s common shares, the interpretation and actual results of exploration activities, changes in project parameters as plans continue to be refined, future prices of gold and / or other metals, possible variations in recovery grade or rates, failure of equipment or processes to function as intended, failure of contracting parties to perform, labor disputes and other risks of the mining industry, delays in obtaining government or funding approvals or in completing exploration, as well as factors disclosed in the Company’s public records. Investors should consult the current quarterly and annual documents of the Company, as well as any other additional documentation including the Company’s public disclosure record, for additional information on the risks and uncertainties associated with such forward-looking statements. The reader is cautioned not to rely on these forward-looking statements. Subject to applicable laws, the Company disclaims any obligation to update these forward-looking statements.

NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATORY SERVICES PROVIDER (AS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THE CONTENTS OF THIS RELEASE. .

SOURCE Laurion Mineral Exploration Inc.

For further information: 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. California

Related links

www.laurion.ca


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