(TheNewswire)
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TORONTO, ONTARIO – September 30, 2024 – TheNewswire – LAURION Mineral Exploration Inc. (TSX.V: LME and OTCPINK: LMEFF) (“LAURION” or the “Corporation”) is pleased to announce its Fall 2024 drilling program at the Ishkõday Project, located 220 km northeast of Thunder Bay, Ontario.
This phase of exploration, led by Forage GeoNord of Dolbeau-Mistassini, Quebec, is expected to commence in mid-October and will focus on expanding known high-grade gold zones and delineating additional resources within the historic Sturgeon Mine area.
Stated Cynthia Le Sueur-Aquin, President and CEO of LAURION: “We look forward to building on the success of prior exploration programs. The campaign will target key structures within the historic Sturgeon River Mine corridor, including the Sturgeon River Mine West (SRMW) and the 85M, M21, M24, M25, M6, and M50 quartz vein systems. These areas, positioned northwest of the Sturgeon River Mine shaft, are known for their high-grade gold-bearing veins.”
The corridor hosting the Sturgeon River Mine encompasses at least 12 identified distinct gold-bearing veins. This vein system has a current known length of 900 metres and a width of 580 metres. The Sturgeon River Mine Area continues to show strong exploration potential, characterized by its dominant 010° trending veins and secondary anastomosing quartz structures. The Corporation’s Fall 2024 drill program will focus on testing extensions of these veins, which remain open at depth and along strike, providing significant upside for resource expansion.
Highlights from 2024 Exploration Results:
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West SRM Grab Samples:
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73.20 g/t Au
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61.50 g/t Au
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53.90 g/t Au
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85A Channel Samples:
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24.9 g/t Au over 0.65 m (Line 15)
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21.0 g/t Au over 0.75 m (Line 20)
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9.36 g/t Au over 0.35 m (Line 25)
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85M Channel Samples:
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7.48 g/t Au over 0.43 m (Line 28)
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4.69 g/t Au and 13.1 g/t Ag over 0.30 m (Line 18)
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2.83 g/t Au over 0.95 m (Line 16)
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Additionally, previous exploration of the M24 Quartz Vein (as reported on August 1, 2019) yielded high-grade surface channel sample assays, including:
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16.35 g/t Au over 0.55 m
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9.81 g/t Au over 1.26 m
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Composite intervals up to 6.20 g/t Au over 1.35 m
Sampling of the M24 and M25 quartz veins also returned notable assays of up to 8.84 g/t Au over 0.46 m. These veins, part of the M-series vein system, cover an 1,800-metre-long corridor and have seen limited drilling, offering further potential for resource expansion.
LAURION’s continued efforts at Ishkõday aim to unlock the full potential of this prolific system, with the upcoming drill program focused on identifying new zones of mineralization and enhancing the overall resource estimate. LAURION is confident that the Fall 2024 program will further demonstrate the high-grade nature of the Ishkõday Project, contributing to the advancement of the project towards future development.
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 TSX Venture Exchange under the symbol LME and on the OTCPINK under the symbol LMEFF. LAURION now has 267,821,735 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 km2 Ishkõday Project, and its gold-rich polymetallic mineralization.
FOR FURTHER INFORMATION, CONTACT:
LAURION Mineral Exploration Inc.
Cynthia Le Sueur-Aquin – President and CEO
Tel: 1-705-788-9186 Fax: 1-705-805-9256
Douglas Vass - Investor Relations Consultant
Email: info@laurion.ca
Website: http://www.LAURION .ca
Follow us on X (@LAURION_LME), Instagram (laurionmineral) and LinkedIn (https://www.linkedin.com/in/cynthia-le-sueur-aquin-laurion-lme-04b03017/ )
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 Ishkõday Project, the nature, focus, timing and potential results of the Corporation’s exploration, drilling and prospecting activities in 2024 and beyond, including its Fall 2024 drilling program and the Corporation’s other planned activities for the Ishkõday Project for the remainder of 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 3 | Page 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.
All sample values are from grab sample and channel samples, which by their nature, are not necessarily representative of overall grades of mineralized areas. Readers are cautioned to not place undue reliance on the assay values reported in this press release.
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