LAURION's 2023 Exploration Campaign Commenced on its Ishkoday Gold-Polymetallic Property
TORONTO, March 15, 2023 /CNW/ - LAURION Mineral Exploration Inc. (TSX.V: LME) (OTCPINK: LMEFF) ("LAURION" or the "Corporation"), is excited to announce that the 2023 exploration campaign has commenced at its wholly-owned Ishkoday gold-polymetallic property (the "Ishkoday Project"), which aims to continue enhancing LAURION's shareholder value. The Ishkoday Project is located in northwestern Ontario, 56 kilometres west of Geraldton, and just 10 kilometres north of the Trans-Canada highway No. 11 along Provincial Road 801.
The Ishkoday Property features numerous occurrences of gold and polymetallic mineralization, which comprise multiple centimetre to metre wide veins and related mineralized zones, over a 6 km long and up to 1 km wide overall trend.
Over the past two years, an interpretive breakthrough by LAURION's team of geologists has allowed for significant advances on the Ishkoday Project. It suggests that Ishkoday occurrences are the product of two separate and distinct mineralizing events separated in time by 40 million years. Both mineralizing events are believed to be exploiting the same structural pathways. The mineralization can be classified as: (i) epithermal polymetallic sulphide veins; and (ii) mesothermal (orogenic) quartz vein hosted gold.
The 2023 exploration campaign will focus on the orogenic gold corridor associated with the Niish Shear Zone, and those areas where there is potential for a sufficient concentration/density of the several well-mineralized veins. Given insights derived from the recent breakthrough work, the area within the western sector of the Ishkoday Property, and particularly the area between the historical Sturgeon River and Brenbar Mines, is of marked interest. The historic Sturgeon River Mine data further suggests that mineralization may be more extensive at depth and along strike.
The 2023 exploration campaign will consist of three field-based components, as follows:
Relogging and resampling of historical drill holes focusing on critical alteration and/or structural features, which may delineate or highlight previously unrecognized areas hosting mineral potential.
The second component will focus on a larger target area that may facilitate the delineation of potential mineralized extensions of the historical gold mines.
A diamond drilling program comprising of up to 5,000 metres.
In light of its re-evaluation of the Ishkoday Property and consequent enhanced interpreted potential of the Sturgeon River Mine area, in particular, management has decided to focus on completing additional surface work and drilling in the area of the shaft and stockpiles, prior to committing the capital necessary to process the stockpile resources. For further information, please see the Corporation's National Instrument 43-101-compliant Technical Report entitled "Technical Report on the Resource Estimate on the Sturgeon River Mine Waste Pile and Tailings, Ishkoday Property, Northern Ontario", dated June 7, 2013, which is available on SEDAR, as well as the Corporation's news release dated April 23, 2013.
LAURION has recently completed the Baseline Environmental Studies through Blue Heron Solutions. Blue Heron will continue the permitting for the processing of the surface stockpiles.
With the new insights and exploration tools now available to LAURION's technical team, management looks forward to this year's field program with great anticipation. Core reinterpretation and relogging is scheduled to begin in mid-March and field work in mid-May, subject to weather conditions. LAURION will provide further updates through subsequent news releases in due course and as appropriate.
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 OTCPINK under the symbol LMEFF. LAURION now has 256,809,855 outstanding shares of which approximately 80% are owned and controlled by Insiders who are eligible investors under the "Friends and Family" categories.
LAURION remains focused on advancing its flagship project, the 100%-owned Ishkoday gold-polymetallic property, located in northwestern Ontario just over 50 kilometers west of the town of Geraldton and 12 kilometers north of Trans-Canada Highway No. 11 along Road 801.
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, and the nature, focus, timing and potential results of the Corporation's future exploration efforts, including its planned activities for Ishkoday in 2023. 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 and future 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.
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