/THIS NEWS RELEASE IS INTENDED FOR DISTRIBUTION IN CANADA ONLY AND IS NOT INTENDED FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR DISSEMINATION IN THE UNITED STATES./
TORONTO, June 24, 2020 /CNW/ - LAURION Mineral Exploration Inc. (TSX.V: LME and OTCPINK: LMEFF) ("LAURION" or the "Corporation") is pleased to provide a further progress report on its drilling and exploration program at its 100% owned Ishkoday Project and contiguous Brenbar earn-in option Project (the "Project"), located 220 km northeast of Thunder Bay, Ontario, near the town of Beardmore. To date, 20 drill holes totalling 4,750 m have been completed with assay results for 14 holes pending. The two drill holes reported in this release were targeting historical intercepts along strike and at depth. Significant results are given in Table 1 and drill hole information is listed in Table 2, below. Figure 1 shows the mineralized intervals projected to surface with the trends of Ishkoday-style (gold-zinc) and Sturgeon River-style (gold-silver) mineralization in the A Zone.
- 5.93 g/t Gold, 97 g/t Silver, 8.42% Zinc over 1.4 m in Hole LBX20-005; and
- 0.65 g/t Gold, 3.89 g/t Silver, 1.09% Zinc over 10.82 m in Hole LBX20-006, Including 1.43 g/t Gold, 9.7 g/t Silver, 5.3% Zinc over 1.25 m
Table 1: Significant Assay Results, Holes LBX20-005 and LBX20-006
Note: Mineralization is subvertical and the true width of mineralization is estimated at >60% of the drill hole interval.
Table 2: Collar position, orientation, and depth of diamond drill holes.
Coordinates are presented in UTM NAD83 Zone 16N.
David Lewis, P.Geo., Exploration Manager commented: "Our ongoing drill campaign continues to demonstrate the continuity of mineralization, including significant high-grade zones, within several parallel mineralized corridors as shear zones and/or as veins. The 1.4m intersection in hole LBX20-005, with the high-grade gold, silver and zinc values, is a new high-grade discovery within the mineralized A Zone target that occurs beneath fault cover and is a blind target."
Mr. Lewis continued: "Drill assays, oriented core and surface mapping have further confirmed the presence of at least four subparallel, gold-mineralized corridors, with an additional two corridors that have been mapped or drilled with assay values pending. Furthermore, drilling has confirmed the presence of a much wider base metal zone that also hosts gold and silver mineralization. This base metal zone pinches and swells along trend, suggesting that it may be folded. These target areas, such as the one intersected in hole LBX20-003 (see May 29, 2020 news release) have the potential to host much wider mineralized zones."
Mr. David Lewis, P. Geo. (PGO), LAURION 's Exploration Manager, is a Qualified Person as defined by National Instrument 43-101 and has reviewed and approved the content of this news release.
All core samples have been assayed by ALS Laboratories in Thunder Bay, Ontario. 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. LAURION employs an industry standard QA/QC program including insertion of blanks, duplicates and standards. Samples are sawn by core saw on site (cut perpendicular to mineralization), with one-half of the core sent in secure bags to ALS Laboratories.
About LAURION Mineral Exploration Inc.
The Corporation is a junior mineral exploration and development company listed on the TSX-V under the symbol LME and on the OTCPINK under the symbol LMEFF. LAURION now has 181,685,977 outstanding shares of which approximately 59% 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 recently-acquired Brenbar Property, which is contiguous with the Ishkoday Property, hosts the historic Brenbar Mine and LAURION believes that the mineralization to be a direct extension of mineralization from the Ishkoday Property.
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, and 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.
For further information: LAURION Mineral Exploration Inc., Cynthia Le Sueur-Aquin - President and CEO, Tel: 1-705-788-9186, Fax: 1-705-805-9256, Website: http://www.LAURION .ca