The Prospector News

LAURION Confirms 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, Including 36.0 g/t Au Over 0.5 Metres and Including 9.0 g/t Au Over 0.65 Metres

You have opened a direct link to the current edition PDF

Open PDF Close
Uncategorized

Share this news article

LAURION Confirms 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, Including 36.0 g/t Au Over 0.5 Metres and Including 9.0 g/t Au Over 0.65 Metres

 

 

 

 

 

Laurion Mineral Exploration Inc. (TSX-V: LME) (OTCPINK: LMEFF) is pleased to announce the assay results from the final four diamond drill holes of its Fall 2023 diamond drill program, which was completed on the Corporation’s Ishkoday Project. The Project is located in Ontario, 220 km northeast of Thunder Bay and 28 km northeast of the town of Beardmore.

 

On December 14, 2023, LAURION announced the completion of its Fall drill program, totalling 3,636 metres and comprising nine diamond drill holes. Five of the nine diamond drill holes aimed to target the northeast extension of the Sturgeon River Mine structure while these final four holes targeted the extension of the mine’s structure to the southeast. For the assay results from the first five diamond drill holes of the drill program, please see the Corporation’s press release dated January 5, 2024, which is available on SEDAR+ at www.sedarplus.ca.

 

The Sturgeon River Mine mineralization system comprises the Number 1, 2 and 3 (main) quartz veins, as well as other quartz veins and shear structures encountered in the historic mining of the Sturgeon River Mine. The Number 3 quartz vein was mined between 1936 and 1942.

 

The Number 3 quartz vein consists of anastomosing quartz veins oriented north-northeast and steeply dipping to the southeast. The mineralized system also comprises other mineralized structures, such as the Numbers 1 and 2 quartz veins, Coniagas and Numbers 1, 8, 10,11,14 and M quartz veins (the “3 Vein Quartz Vein System or 3QVS”) along with additional secondary (for now) quartz veins and shears of different sizes and trends.

 

The 2023 drill program targeted the extension of the system to the northeast and the southeast with the intention of doubling the strike length of the mineralized structures. The results for all drill holes confirm that the mineralization is still open on strike and at depth.

 

Upon receiving the most recent results, LAURION’s geology team will update the current exploration 3D model and begin planning for the next phases of exploration drilling.

 

Drilling Highlights

 

The results from the four aforementioned diamond drill holes, LME22-037 to LME22-040, include the following intersection highlights:

 

Assay Results: Highlights of the southwestern Sturgeon Rive Mine Drill Holes

 

Holes ID From
(m)
To
(m)
Core Length
(m)
Au
(g/t)
LME23-037 79.70 80.60 0.90 1.435
LME23-037 209.60 211.20 1.60 1.243
LME23-037 220.90 222.50 1.60 6.347
including 221.90 222.50 0.60 16.700
LME23-038 46.00 46.90 0.90 1.585
LME23-038 246.93 247.75 0.82 3.530
LME23-038 319.65 321.65 2.00 1.652
including 319.65 320.40 0.75 2.420
including 320.90 321.65 0.75 1.965
LME23-038 340.40 340.90 0.50 2.950
LME23-040 383.90 391.85 7.95 3.610
including 384.45 384.95 0.50 36.600
including 385.45 391.85 6.40 1.585
including 389.30 391.85 2.55 3.054
LME23-040 502.25 502.85 0.60 1.060
LME23-040 513.00 513.93 0.93 4.430

 

Coordinates for Drill Holes LME23-037 to LME23-040

 

Drill Hole
Number
Azimuth Dip Planned
(m)
Actual
(m)
LME23-037 115 -45 275 276
LME23-038 115 -60 375 360
LME23-039 115 -45 325 330
LME23-040 115 -60 525 525
TOTAL 3,675 3,645

 

 

Sampling and QA/QC Protocols

 

All core was transported and stored inside the core facility located in Beardmore.

 

LAURION employs an industry standard system of external standards, blanks and duplicates for all of its sampling, in addition to the QA/QC protocol employed by the laboratory.

 

After logging, core samples were identified and then cut in half along core axis in the same building, and then zip tied individually in plastic sample bags with a bar code. Approximately five or six of these individual bags were then stacked into a “rice” white material bag and stored on a skid for final shipment to the laboratory.

 

All core samples were shipped to the ALS facility in Thunder Bay, which were then prepared by ALS Global Geochemistry in Thunder Bay and analyzed by ALS Global Analytical Lab in North Vancouver, British Columbia.

 

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. A total of 5% blanks and 5% standard are inserted randomly within all samples. 5% of the best assay result pulps were sent for re-assays. A total of 8.7% blanks and 9.5% standard were randomly inserted during the pXRF analyse of the soil sampling. 2.8% we re-analyzed. All QAQC were verified, and no contamination or bias have been observed.

 

The remaining half of the core, as well as the unsampled core, were stacked on a skid outside in Beardmore and then transferred to the Sturgeon Mine site core farm for final storage.

 

Potential Disposition of Shares by a Director

 

LAURION would also like to disclose that one of its directors, Michael Burmi, has informed the Corporation that he intends to sell a minority portion of his common shares in LAURION for personal and financial planning purposes. This expected transaction does not signal Michael’s views regarding the future prospects of the Corporation as he plans to still continue to hold a material equity interest in the Corporation following his anticipated disposition of shares. As is the case with most officers and directors who hold shares in their publicly traded companies, Michael intends to review his shareholdings in the Corporation on a continuing basis and may determine to buy or sell additional securities depending upon personal financial matters, market conditions and other factors considered relevant from time to time. Notwithstanding the foregoing, Michael, the other directors, and management of LAURION remain committed to LAURION’s business plan and delivering value for all stakeholders and shareholders. Led by the Corporation’s President, Chief Executive Officer and largest shareholder, Cynthia Le Sueur-Aquin, the directors and officers of LAURION continue to hold in the aggregate a significant portion of LAURION’s outstanding shares. For more information about the holdings of LAURION’s reporting insiders, please see the System for Electronic Disclosure by Insiders (SEDI) (available at www.sedi.ca).

 

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.

 

Posted January 12, 2024

Share this news article

MORE or "UNCATEGORIZED"


Atico Produces 3.73 Million Pounds of Cu and 2,874 Ounces of Au in Second Quarter 2024

Atico Mining Corporation (TSX-V: ATY) (OTCQX: ATCMF) announces it... READ MORE

July 19, 2024

Lithium Ionic Completes US$20 Million Royalty Agreement with Appian Capital

Lithium Ionic Corp. (TSX-V: LTH) (OTCQX: LTHCF) (FSE: H3N) is ple... READ MORE

July 19, 2024

Golden Cariboo Intersects New Discovery with Multiple Examples of Visible Gold in Each of Three Drill Holes at the Halo Zone 830m from the Quesnelle Gold Quartz Mine

Golden Cariboo Resources Ltd. (CSE: GCC) (OTC: GCCFF) (WKN: A402C... READ MORE

July 18, 2024

North Bay Resources Acquires Mt. Vernon Gold Mine, Sierra County, California, with Assays up to 4.8 oz. Au per Ton

North Bay Resources Inc. (OTC: NBRI) is pleased to announce it ha... READ MORE

July 18, 2024

Entrée Resources Announces Additional Drill Results and Provides an Update on Underground Development Work

Entrée Resources Ltd. (TSX:ETG) (OTCQB:ERLFF)  is pleased to pr... READ MORE

July 18, 2024

Copyright 2024 The Prospector News