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TORONTO, July 28, 2020 /CNW/ - LAURION Mineral
Exploration Inc. (TSXV: LME) (OTCPINK:
LMEFF) ("LAURION" or the "Corporation") is pleased
to provide final assay results from the remaining seven holes of
the phase 1 drill program at its 100% owned Ishkoday Project and
contiguous Brenbar earn-in option Project (the "Project").
Drill Assay Highlights:
- LBX20-015: 19.5 g/t silver over 1.50
m;
- LBX20-016: 4.65 g/t gold, 11.6 g/t silver, 1.97% zinc
over 0.60 m;
- LBX20-017: 34.7 g/t silver over 1.50
m;
- LBX20-018:
-
- 6.81 g/t gold, 9.3 g/t silver, 1.29% zinc over
0.53 m;
- 2.40 g/t gold over 1.00
m;
- LBX20-019:
-
- 1.99 g/t gold over 0.61 m;
- 1.89 g/t gold over 0.56 m;
- LBX20-020: 0.48 g/t gold, 3.54 g/t silver, 1.04 % zinc over
10.84 m;
- LBX20-021:
-
- 5.95 g/t gold, 29.6 g/t silver over 0.49 m;
- 6.98 g/t gold, 15.2 g/t silver, 1.93 % zinc over
0.57 m;
- 0.89 g/t gold, 4.0 g/t silver, 1.04 % zinc over 14.08 m, including:
-
- 2.10 g/t gold, 6.9 g/t silver, 1.44 % zinc over
0.50 m;
- 3.27 g/t gold, 11.3 g/t silver, 6.04 % zinc over
0.50 m;
- 3.26 g/t gold, 10.1 g/t silver, 2.45 % zinc over
0.73 m
The Project is located 220 km northeast of Thunder Bay, Ontario, near the town of
Beardmore. The 2020 phase 1 drill
program included twenty-one drill holes for a combined 4,975 m. The first fourteen holes tested the
A-Zone (see the following 2020 news releases: May 19; May 29;
June 11; June
24; July 15), whereas the last
seven holes tested the McLeod Zone, located 700 m along strike to the southwest (Figure
1).
David Lewis, P.Geo., Exploration
Manager commented: "The McLeod Zone appears to be a direct
continuation of the gold mineralization intersected 700 m along trend at the A-Zone. Both Sturgeon
River-style (shear-hosted and vein gold) and Ishkoday-style
(VMS-like) mineralization were intersected at McLeod Zone. The
gold-bearing veins and shear zones can be traced directly between
these areas and imply continuity of mineralization, although the
style of mineralization differs somewhat at McLeod:
- The mineralized, shear-hosted veins intersected are generally
much wider and vary from 1 cm to 100 cm in true width;
- The orientation of the shear zones varies, and vein widths
increase with the changing orientation; and
- Although the shear-hosted veins are mineralized, the best
vein-hosted mineralization occurs within N-S striking extensional
veins.
We have now mapped several more of these extensional veins
nearby on surface."
"At the past-producing Sturgeon Mine, the best gold grades are
hosted in N-S striking extensional veins, similar to those
intersected at the McLeod Zone. LAURION'S focus has now progressed
approximately 6 km along strike towards the Brenbar area, where
there are similar vein patterns in wider altered and mineralized
zones. We are now infill channel sampling, mapping and compiling
historical data to define drill targets in combination with our new
structural model and geophysical data."
All significant mineralized intervals, drill holes locations and
orientation data are presented in Tables 1 and 2.
Table 1: Significant Assay Results, Holes LBX20-015 to
LBX20-021
Hole
ID
|
From
(m)
|
To
(m)
|
Width
(m)
|
Gold
(g/t)
|
Silver
(g/t)
|
Copper
(wt%)
|
Zinc
(wt%)
|
LBX20-015
|
21.00
|
22.50
|
1.50
|
0.07
|
19.50
|
0.00
|
0.01
|
LBX20-015
|
82.28
|
83.00
|
0.72
|
0.95
|
3.70
|
0.02
|
0.69
|
LBX20-015
|
139.35
|
146.50
|
7.15
|
0.20
|
1.78
|
0.04
|
0.91
|
LBX20-016
|
71.35
|
71.85
|
0.50
|
0.71
|
38.80
|
0.18
|
2.80
|
LBX20-016
|
83.50
|
85.00
|
1.50
|
0.62
|
14.60
|
0.01
|
0.05
|
LBX20-016
|
104.00
|
104.60
|
0.60
|
4.65
|
11.60
|
0.08
|
1.97
|
LBX20-017
|
96.50
|
98.00
|
1.50
|
0.00
|
34.70
|
0.00
|
0.03
|
LBX20-017
|
151.00
|
152.50
|
1.50
|
0.61
|
2.50
|
0.02
|
0.27
|
LBX20-018
|
92.70
|
114.00
|
21.30
|
0.39
|
1.06
|
0.01
|
0.06
|
Including
|
94.00
|
95.00
|
1.00
|
2.40
|
1.80
|
0.01
|
0.05
|
Including
|
101.75
|
102.28
|
0.53
|
6.81
|
9.30
|
0.12
|
1.29
|
LBX20-018
|
191.70
|
192.20
|
0.50
|
1.55
|
10.10
|
0.27
|
3.69
|
LBX20-018
|
218.00
|
223.00
|
5.00
|
0.16
|
0.62
|
0.02
|
0.30
|
LBX20-018
|
239.20
|
239.97
|
0.77
|
0.15
|
4.00
|
0.10
|
3.43
|
LBX20-018
|
259.00
|
261.50
|
2.50
|
0.64
|
9.80
|
0.29
|
3.99
|
LBX20-018
|
279.40
|
279.90
|
0.50
|
0.84
|
4.90
|
0.09
|
2.64
|
LBX20-019
|
6.34
|
12.00
|
5.66
|
0.43
|
1.77
|
0.01
|
0.25
|
LBX20-019
|
39.37
|
45.64
|
6.27
|
0.46
|
0.73
|
0.00
|
0.01
|
Including
|
42.79
|
43.40
|
0.61
|
1.99
|
1.40
|
0.01
|
0.01
|
Including
|
44.14
|
44.70
|
0.56
|
1.89
|
1.60
|
0.02
|
0.01
|
LBX20-019
|
95.30
|
97.00
|
1.70
|
0.82
|
2.39
|
0.01
|
0.19
|
LBX20-020
|
48.28
|
48.78
|
0.50
|
0.90
|
0.90
|
0.00
|
0.01
|
LBX20-020
|
66.14
|
73.00
|
6.86
|
0.47
|
1.78
|
0.00
|
0.78
|
LBX20-020
|
164.50
|
168.74
|
4.24
|
0.22
|
1.28
|
0.04
|
0.51
|
LBX20-020
|
180.66
|
191.50
|
10.84
|
0.48
|
3.54
|
0.08
|
1.04
|
LBX20-020
|
210.00
|
210.60
|
0.60
|
0.65
|
1.40
|
0.01
|
0.96
|
LBX20-021
|
39.36
|
39.85
|
0.49
|
5.95
|
29.60
|
0.96
|
0.80
|
LBX20-021
|
119.00
|
121.50
|
2.50
|
1.51
|
17.58
|
0.23
|
1.31
|
LBX20-021
|
127.60
|
128.17
|
0.57
|
6.98
|
15.20
|
0.21
|
1.93
|
LBX20-021
|
137.70
|
141.85
|
4.15
|
0.26
|
12.00
|
0.06
|
1.11
|
LBX20-021
|
149.00
|
163.08
|
14.08
|
0.89
|
4.00
|
0.11
|
1.04
|
Including
|
150.15
|
150.65
|
0.50
|
2.10
|
6.90
|
0.19
|
1.44
|
Including
|
153.00
|
153.90
|
0.90
|
1.60
|
8.20
|
0.30
|
0.99
|
Including
|
153.90
|
154.40
|
0.50
|
3.27
|
11.30
|
0.30
|
6.04
|
Including
|
154.40
|
155.10
|
0.70
|
1.52
|
2.80
|
0.08
|
0.94
|
Including
|
162.35
|
163.08
|
0.73
|
3.26
|
10.10
|
0.31
|
2.45
|
LBX20-021
|
189.50
|
190.25
|
0.75
|
0.72
|
8.10
|
0.11
|
2.83
|
LBX20-021
|
197.15
|
197.85
|
0.70
|
1.22
|
8.90
|
0.08
|
1.77
|
LBX20-021
|
213.00
|
214.50
|
1.50
|
0.21
|
16.20
|
0.00
|
0.04
|
Note: Mineralization
is subvertical. The true width of mineralization is estimated at
>60% of the drill hole interval for holes LBX20-015 to LBX20-019
and >40% for holes LBX20-020 and LBX20-021.
|
Table 2: Collar position, orientation, and depth of diamond
drill holes
Hole
ID
|
Easting
(m)
|
Northing
(m)
|
Elevation
(m)
|
Azimuth
|
Dip
|
Depth
(m)
|
LBX20-015
|
446292
|
5512383
|
329
|
300
|
-50
|
212
|
LBX20-016
|
446254
|
5512344
|
330
|
300
|
-50
|
206
|
LBX20-017
|
446210
|
5512369
|
333
|
300
|
-50
|
200
|
LBX20-018
|
446363
|
5512470
|
325
|
280
|
-50
|
297.5
|
LBX20-019
|
446234
|
5512472
|
332
|
100
|
-50
|
131
|
LBX20-020
|
446148
|
5512471
|
332
|
145
|
-55
|
266
|
LBX20-021
|
446150
|
5512395
|
334
|
122
|
-67
|
221
|
Coordinates are
presented in UTM NAD83 Zone 16N.
|
Additionally, Mr. Jean Lafleur,
P.Geo., has resigned as Vice President Exploration and from the
Technical Advisory Board to pursue other opportunities. We thank
him for his work at LAURION and wish him well in his future
endeavours.
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 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. 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 186,799,865 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 47 km2 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.
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.
SOURCE Laurion Mineral Exploration Inc.