TORONTO, Feb. 2, 2024
/CNW/ - Laurion Mineral Exploration Inc. (TSXV: LME)
(OTCPINK: LMEFF) ("LAURION" or the "Corporation") is
pleased to announce that, further to its news releases dated
December 13, 2023, January 5, 2024 and January 12, 2024, the Corporation's 2023 drilling
campaign was successful in confirming the strike length of the
Sturgeon River mineralized system over 1,600m at its Ishkoday project, located 220km
Northeast of Thunder Bay, ON (the
"Property"). The nine (9) drill holes from 2023 intercepted
the seven (7) veins comprising the Sturgeon River mineralized
system.
The Sturgeon River mineralized system is composed of seven (7)
distinct quartz veins and mineralized shear zones. The drilling
intercepts vary in true widths between 0.5m and 7.95m,
with grades ranging from 0.1 g/t Au and 7.78 g/t Au. The drilling
intercepted the No 3 vein, which was historically mined between
1936 and 1942 producing 73,438 ounces of Gold and 15,922 ounces of
silver from 145,123 tonnes of ore, milled grading an average 0.51
ounces per ton gold (17.0 g/t) (Mackasey W.O. 1976 -Geology of
Walters and Leduc Township,
District of Thunder Bay, Ontario
Div. Mines, GR149, 58p.). This vein is part of a series of three
(3) parallel veins striking roughly N020° with a sub-vertical dip.
A second vein system, consisting of 4 parallel sub-vertical veins
strike roughly at N030° was also intercepted during the
drilling.
Highlights from the 2023 drilling program include:
- Confirmation of the extension of the Sturgeon River Mine
mineralization by 600 metres to the northeast, with grade
intercepts as high as 29.45 g/t Au over 3.5 metres (along core),
including 186.00 g/t Au over 0.55 metres (along core); and,
- Confirmation of the extension of the Sturgeon River Mine
mineralization by 320 metres to the southeast, with grade
intercepts as high as 3.088 g/t Au over 7.5 metres (along core),
including 36.0 g/t Au over 0.5 metres (along core) and including
9.0 g/t Au over 0.65 metres (along core).
The mineralized intervals identified in the drilling are mostly
associated with the massive Sturgeon River quartz-bearing diorite
and exhibits characteristics typical of orogenic gold deposits.
These intervals are predominantly hosted within a massive,
quartz-bearing diorite, in association with shear zones and mafic
volcanic dykes indicative of a deep-seated and structurally
controlled geological environment. The presence of quartz-carbonate
veins, often accompanied by chlorite, points towards significant
hydrothermal alteration processes, a hallmark of orogenic gold
systems. The alteration is typically associated with the influx of
mineral-rich fluids during deformation and metamorphism. The vein
types observed, particularly those rich in quartz and carbonate
with varying proportions of chlorite, suggest episodic fluid flow
and vein formation, commonly seen in orogenic gold settings.
It is interpreted that the veins are associated with a major
shear zone trending NE that stems from the Niish shear zone,
bordering the south of the Property. The strong structural control
of the mineralization and association with the proximity of a mafic
dyke are key exploration features that will help in further
exploration efforts. Laurion's team will be further refining the
current 3D model of the vein system by systematically reviewing
mineralized intervals with core pictures and oriented core to
improve in further geometric prediction of the vein system.
LAURION's team recognizes its ability to generate actionable
insights from its significant exploration database by utilizing
Artificial Intelligence ("AI") to analyze data to refine
targeting by using machine learning to map out alteration and
structural signatures from drilling. LAURION also recognizes that
its significant database is able to leverage the power of AI and
other advanced technologies, and thus, moving forward, expects to
be better positioned to optimize its advancement in exploration
efficiencies.
Qualified Person
The technical contents of this release were reviewed and
approved by Jean-Philippe Paiement,
PGeo, MSc, a consultant to LAURION, and a qualified person as
defined by National Instrument 43-101 – Standards of Disclosure for
Mineral Projects.
About LAURION Mineral Exploration Inc.
The Corporation is a junior mineral exploration and development
company listed on the TSXV under the symbol LME and on the OTC
under the symbol LMEFF. LAURION now has 263,346,102 outstanding
shares of which approximately 72% are owned and controlled by
Insiders who are eligible investors under the "Friends and Family"
categories.
LAURION's emphasis is on the exploration and development of its
flagship project, the 100% owned mid-stage 57.43 km2 Ishkoday
Project, and its gold-rich polymetallic mineralization.
Website: http://www.LAURION .ca
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 Corporation's ability to advance the Ishkoday
Project, the drill results and highlights described in this press
release and the interpretation and expected impact of these results
and highlights, the nature, timing and potential results of the
Corporation's future exploration efforts and drill programs,
including its planned activities for the Ishkoday Project in 2024.
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.
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SOURCE Laurion Mineral Exploration Inc.