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LAURION Reports 22.26 m True Width* at 0.43 g/t Au and 0.49% Zn; Including 2.20 m at 0.87 g/t Au and 1.07% Zn; Increases Southwestern Extension of the A-Zone towards the McLeod Zone at Ishkoday Au-Zn-Cu-Ag Project

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TORONTO, June 14, 2022 /CNW/ - LAURION Mineral Exploration Inc. (TSXV: LME) (OTCPINK: LMEFF) ("LAURION" or the "Corporation") is pleased to announce assay results for six (6) new diamond drill holes which tested the potential of the undrilled continuity of mineralization, between the southwestern portion of the A-Zone and towards the McLeod Zone. Both the A-Zone and McLeod Zones are located along the 6 km long Au-Zn-Cu-Ag mineralized trend at the Ishkoday project, near Beardmore, Ontario.

The current assay results demonstrate that anomalous gold-silver-zinc mineralization was intersected in each of the six recently completed drill holes linking the A-Zone and McLeod Zones for more than 200 m along strike returning:

  • LBX22-066 from 106.00 to 130.50 m: 24.50 m (22.26 m TW) @ 0.43 g/t Au, 3.86 g/t Ag and 0.49% Zn; including 2.20 m @ 0.87 g/t Au, 1.07% Zn and 7.55 g/t Ag

  • LBX22-067 from 63.00 to 64.40 m: 1.40 m (1.04 m TW) @ 0.70 g/t Au and 0.84 g/t Ag

  • LBX22-068 from 32.35 to 34.40 m: 1.95 m (1.57 m TW) @ 1.66 g/t Au, 0.70% Zn, and 7.79 g/t Ag

  • LBX22-068 from 197.00 to 211.20 m: 14.20 m (11.24 m TW) @ 0.26 g/t Au, 0.43% Zn, and 1.97 g/t Ag

  • LBX22-069 from 100.10 to 101.40 m: 1.30 m (0.97 m TW) @ 1.16 g/t Au and 0.85 g/t Ag

  • LBX22-069 from 174.95 to 179.00 m: 4.05 m (3.02 m TW) @ 0.41 g/t Au, 0.26% Zn, and 1.70 g/t Ag

  • LBX22-070 from 12.06 to 14.00 m: 1.94 m (1.57 m TW) @ 0.29 g/t Au, 0.11% Zn, and 2.74 g/t Ag

  • LBX22-071 from 65.00 to 84.50 m: 19.50 m (15.00 m TW) @ 0.22 g/t Au and 1.02 g/t Ag; including 4.50 m @ 0.54 g/t Au, and 2.72 g/t Ag

  • LBX22-071 from 126.30 to 138.00 m: 11.70 m (8.92 m TW) @ 0.31 g/t Au, and 2.11 g/t Ag; including 5.30 m @ 0.51 g/t Au, and 3.65 g/t Ag, and 2.80 m @ 0.82 g/t Au; 1.09% Zn, and 5.41 g/t Ag.

This area remains open to the southwest, and at depth.

Current Drilling and Objectives

  • A total of 11,892 m in thirty-eight (38) diamond drill holes have been drilled to date with assays pending for twelve (12) drill holes in the McLeod Zone to test the continuity to the southwest where the stacked veins coincide with a large magnetic high anomaly. Seven (7) drill holes are planned in this area.

Highlights of A-Zone Extension Assay Results

Hole ID

From
(m)

To
(m)

Core
Length
(m)

True
Width
(m)

Au
(g/t)

Zn
(%)

Cu
(%)

Ag
(g/t)

LBX22-066

85.10

88.50

3.40

3.09

0.13

0.11

0.01

1.76

LBX22-066

96.50

100.00

3.50

3.18

0.51

0.20

0.01

1.16

LBX22-066

106.00

130.50

24.50

22.26

0.43

0.49

0.03

3.86

including

106.00

110.70

4.70


1.13

0.30

0.03

3.19

including

109.00

111.50

2.50


1.66

0.14

0.03

10.66

including

114.00

117.70

3.70


0.58

1.62

0.10

6.53

including

115.50

117.70

2.20


0.87

1.07

0.07

7.55

including

126.00

130.50

4.50


0.50

0.89

0.01

4.29

LBX22-066

205.00

210.50

5.50

4.99

0.12

0.05

0.01

0.67

LBX22-067

63.00

64.40

1.40

1.04

0.70

0.01

0.00

0.84

LBX22-067

148.00

150.90

2.90

2.15

0.14

0.03

0.00

0.45

LBX22-068

32.35

34.30

1.95

1.57

1.66

0.70

0.13

7.79

LBX22-068

140.80

144.20

3.40

2.71

0.65

0.84

0.06

4.75

including

140.80

143.00

2.20


0.95

1.27

0.09

6.31

LBX22-068

169.50

173.00

3.50

2.78

0.37

0.02

0.00

0.54

LBX22-068

197.00

211.20

14.20

11.24

0.26

0.43

0.03

1.97

including

205.50

208.30

2.80


0.55

0.52

0.06

3.47

LBX22-068

247.20

250.55

3.35

2.64

0.60

0.01

0.00

1.05

LBX22-068

259.00

261.94

2.94

2.31

0.30

0.01

0.00

0.76

LBX22-069

16.80

20.00

3.20

2.43

0.05

0.28

0.01

0.92

LBX22-069

100.10

101.40

1.30

0.97

1.16

0.01

0.00

0.85

LBX22-069

132.00

134.00

2.00

1.50

0.17

0.42

0.03

1.63

LBX22-069

138.50

140.00

1.50

1.12

0.24

0.01

0.00

0.70

LBX22-069

155.90

158.80

2.90

2.17

0.04

0.16

0.01

0.55

LBX22-069

174.95

179.00

4.05

3.02

0.41

0.26

0.01

1.70

including

174.95

178.00

3.05


0.36

0.34

0.02

1.89

LBX22-070

12.06

14.00

1.94

1.57

0.29

0.11

0.07

2.74

LBX22-070

43.90

45.21

1.31

1.06

0.18

0.02

0.02

1.30

LBX22-071

34.00

36.60

2.60

1.99

0.19

0.01

0.01

0.85

LBX22-071

65.00

84.50

19.50

15.00

0.22

0.04

0.01

1.02

including

65.00

69.50

4.50


0.54

0.02

0.03

2.72

including

65.00

66.90

1.90


0.94

0.01

0.02

0.91

including

72.00

76.50

4.50


0.25

0.05

0.01

0.87

LBX22-071

92.00

94.50

2.50

1.92

0.18

0.03

0.02

1.18

LBX22-071

115.00

116.70

1.70

1.30

0.29

0.59

0.02

2.14

LBX22-071

126.30

138.00

11.70

8.92

0.31

0.30

0.02

2.11

including

129.20

134.50

5.30


0.51

0.63

0.04

3.65

including

130.70

133.50

2.80


0.82

1.09

0.06

5.41

* True widths are calculated based on an average dip of 70° towards N330° for the mineralized zones

 

Sampling Analysis and Laboratory

Samples from the 2022 drilling were cut and sent for analysis. Preparation and analysis were completed at the Actlabs (ISO 9001:2015) laboratory in Thunder Bay. Actlabs is an internationally recognized laboratory that provides geochemical sample preparation, analytical procedures, and data management solutions.

LAURION uses a quality assurance/quality control (QA/QC) program that monitors the chain of custody of samples and includes the insertion of blanks (5% of the announced results), duplicates (3% of the announced results), and standard reference material (5% of the announced results) in each batch of samples sent for analysis. Drill core is photographed, logged, and cut in half with one half retained in a secured location for verification purposes and one half shipped for analysis.

The entire sample is crushed to 80% passing 2 mm and a riffle split of 250 grams is taken and pulverized to 95% passing 105 µm (RX1). Samples are analyzed by four-acid digestion/ICP-MS package for 36 elements (1F2). Additionally, samples are analyzed for Au using a firing assay from a 50-gram pulp (1A2B-50). Overlimit samples values for zinc (>1%) and Pb (>0.5%) are re-assayed using a four-acid digestion overlimit method with ICP-AES 9 (8-4 Acid over limit).

No QA/QC issues were noted with the results reported herein.

Qualified Person

The technical contents of this release were reviewed and approved by Ron Avery, PGeo, a consultant to LAURION, and a qualified person as defined by National Instrument 43-101.

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 OTCPINK under the symbol LMEFF. The Corporation currently has 252,522,613 outstanding shares, of which approximately 81% of LAURION's issued and outstanding shares 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 Brenbar Property, which was acquired in 2020 and is contiguous with the Ishkoday Property, hosts the historic Brenbar Mine. LAURION believes the mineralization to be a direct extension of mineralization from the Ishkoday Property.

Website: http://www.LAURION .ca

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 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.

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