NEW SIGNIFICANT ASSAYS IN GOLD-SILVER-ZINC FROM GRAB SAMPLES AT ISHKODAY PROJECT Selected grab samples yielding up to 58 g/t gold and 140 g/t silver from the M25 Quartz Vein; 71 g/t gold and 15.60 g/t silver from the Marge Quartz Vein ; and 32 g/t gold at the
Vein; 71 g/t gold and 15.60 g/t silver from the Marge Quartz Vein; and 32 g/t gold at the River East Zone.
- Additional selected grab samples from Sulphide Veins in the CRK Zone (including the
West segment) graded up to 9.56 g/t gold, 55 g/t silver, 30% zinc, 1.69% copper.
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. ONTARIO (December 3, 2019) - Laurion Mineral Exploration Inc. (TSX-V: LME; OTCPINK: LMEFF) (“LAURION” or the “Corporation”) is pleased to issue new assay results (the “Results”) from selected grab samples at the Corporation’s wholly-owned Ishkoday Project (“Ishkoday”), located 220 km northeast of Thunder Bay, Ontario (Figures 1 to 7; Tables 1 and 2).
Refer to tables and maps on LAURION’s website (Table 2; Figures 1 to 7) using the following link: http://www.laurion.org/ishkoday-project/highlights/2019-field-exploration-program/
Cynthia Le Sueur-Aquin, President and CEO of the Corporation stated “New selected grab samples were taken by LAURION’s geologists and prospectors at a number of mineralized zones and at large to not only validate the historical sampling of the M25, 85-1, River Zone East and Marge Quartz Veins segments, but also new vein segments in sectors of the Target Area inaccessible to our 2018 and 2019 channel sampling. Assays from these samples continue to corroborate historical and other more recent results on the prospectivity of Quartz, Oxide- Sulphide and Sulphide Veins at Ishkoday, in addition to confirming significantly higher grade gold, silver and zinc values.”
Table 1. Selected grab sample results from the 2019 Stage 2 Campaign greater than 1g/t gold and greater than 1% zinc with accompanying silver values.
| SELECTED GRAB SAMPLE NUMBER | UTM COORDINATES | ROCK TYPES | GOLD g/t | SILVER g/t | ZINC % | COPPER % | LEAD % | ||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| NAD 83 | |||||||||||
| ZONE 16 | |||||||||||
| EASTING | NORTHING | ||||||||||
| M25 QUARTZ VEIN | |||||||||||
| 864389 | 443532 | 5510969 | QV | 1.19 | 0.60 | 0.01 | trace | trace | |||
| 864456 | 443500 | 5510883 | QV | 2.04 | 10.30 | 0.04 | 0.01 | trace | |||
| 864458 | 443516 | 5510891 | QV | 50.60 | 140.00 | 0.15 | 0.10 | 0.02 |
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| 864460 | 443531 | 5510902 | QV | 10.85 | 25.70 | 0.01 | 0.01 | trace | |
| 864462 | 443554 | 5510916 | QV | 58.10 | 17.10 | trace | trace | trace | |
| 864465 | 443585 | 5510936 | QV | 2.98 | 7.20 | trace | trace | trace | |
| 864469 | 443619 | 5510973 | QV | 4.42 | 5.50 | trace | trace | trace | |
| 864479 | 443631 | 5510985 | QV | 9.14 | 9.50 | trace | trace | trace | |
| 864481 | 443636 | 5510993 | QV | 2.65 | 14.70 | trace | trace | trace | |
| 864482 | 443640 | 5510998 | QV | 1.53 | 1.80 | trace | trace | trace | |
| 864483 | 443645 | 5511005 | QV | 12.35 | 6.70 | trace | trace | trace | |
| 864491 | 443689 | 5511065 | QV | 2.96 | 7.30 | trace | 0.01 | trace | |
| 864492 | 443680 | 5511061 | QV | 11.50 | 8.10 | 0.01 | trace | trace | |
| 864494 | 443666 | 5511041 | QV | 3.08 | 3.20 | trace | trace | trace | |
| MARGE QUARTZ VEIN | |||||||||
| 864549 | 444185 | 5511744 | QV | 22.40 | 4.10 | trace | trace | trace | |
| 864554 | 444254 | 5511760 | QV | 3.69 | 1.40 | 0.01 | trace | trace | |
| 864559 | 444249 | 5511793 | QV | 21.40 | 3.50 | 0.01 | 0.01 | trace | |
| 864566 | 444225 | 5511847 | QV | 19.25 | 7.40 | 0.02 | 0.01 | trace | |
| 864568 | 444241 | 5511853 | QV | 9.61 | 1.90 | 0.02 | trace | trace | |
| 864572 | 444263 | 5511878 | QV | 22.90 | 3.80 | 0.01 | trace | trace | |
| 864573 | 444270 | 5511891 | QV | 71.10 | 15.60 | 0.01 | 0.01 | trace | |
| 864574 | 444277 | 5511903 | QV | 3.41 | 2.10 | 0.02 | 0.02 | trace | |
| NORTH RIVER ZONE | |||||||||
| 864511 | 444865 | 5512999 | QV | 3.91 | 7.50 | trace | trace | 0.03 | |
| 864512 | 444868 | 5512986 | QV | 2.15 | 1.60 | trace | trace | trace | |
| 864513 | 444871 | 5512993 | QV | 1.44 | 0.25 | trace | trace | trace | |
| 864516 | 444867 | 5512993 | QV | 32.10 | 6.80 | trace | trace | trace | |
| 864517 | 444868 | 5513000 | QV | 4.13 | 0.60 | 0.01 | trace | trace | |
| 864521 | 444918 | 5513077 | QV | 5.25 | 1.10 | 0.01 | trace | trace | |
| CRK ZONE | |||||||||
| 864397 | 446127 | 5512188 | N/A | 1.05 | 1.80 | 0.03 | 0.03 | 0.01 | |
| 864472 | 445778 | 5512061 | MAGSV | 6.63 | 21.50 | 0.09 | 0.43 | 0.04 | |
| 864584 | 445779 | 5512119 | QV, SV | 1.71 | 4.80 | 0.12 | 0.05 | 0.01 | |
| 864586 | 445876 | 5512225 | QV, SV | 4.67 | 2.80 | 0.02 | 0.03 | 0.01 | |
| 864587 | 445866 | 5512215 | QV, SV | 2.39 | 1.00 | 0.01 | 0.06 | trace | |
| 869976 | 445629 | 5512122 | SV | 0.58 | 5.10 | 2.33 | 0.14 | 0.01 | |
| 869977 | 445637 | 5512144 | SV | 9.56 | 11.70 | 2.98 | 0.16 | trace | |
| 869979 | 445626 | 5512116 | SV | 0.20 | 3.90 | 2.22 | 0.07 | 0.01 | |
| 869981 | 445627 | 5512107 | SV | 0.24 | 8.20 | 2.28 | 0.15 | 0.02 | |
| 869984 | 445627 | 5512096 | MAGSV | 0.17 | 3.10 | 2.66 | 0.06 | trace | |
| 869989 | 445634 | 5512063 | MAGSV | 3.16 | 7.90 | 2.77 | 0.05 | trace | |
| 869991 | 445636 | 5512063 | MAGSV | 0.82 | 3.10 | 4.88 | 0.07 | 0.02 | |
| 869992 | 445633 | 5512063 | MAGSV | 0.35 | 1.50 | 2.09 | 0.02 | 0.01 | |
| 869993 | 445632 | 5512064 | MAGSV | 3.40 | 8.10 | 1.39 | 0.03 | 0.01 | |
| 869994 | 445623 | 5512058 | SV | 1.07 | 21.40 | 30.00 | 0.61 | 0.04 | |
| 869996 | 445634 | 5512043 | MAGSV | 1.48 | 6.50 | 0.83 | 0.26 | 0.02 | |
| CRK ZONE WEST | |||||||||
| 864398 | 446323 | 5512469 | SV | 1.79 | 24.20 | 9.84 | 0.16 | 0.72 |
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| 864399 | 446323 | 5512469 | SV | 2.57 | 55.40 | 3.26 | 0.35 | 0.61 | |
| 864401 | 446625 | 5513077 | QV | 2.15 | 35.50 | 0.05 | 0.64 | 0.15 | |
| 864408 | 446813 | 5513302 | N/A | 1.65 | 26.30 | 0.37 | 0.22 | 0.03 | |
| 864409 | 446739 | 5513215 | QV | 2.15 | 5.80 | 0.16 | 0.02 | 0.05 | |
| 864411 | 446417 | 5513071 | QV | 1.10 | 564.00 | 3.58 | 1.69 | 0.07 | |
| M25, M21, 85-1 NE EXTENSIONS | |||||||||
| 864440 | 443883 | 5511220 | QV | 1.45 | 0.70 | trace | trace | trace | |
| 864442 | 443858 | 5511152 | QV | 24.50 | 1.60 | trace | 0.12 | trace | |
| 864443 | 443758 | 5511043 | QV | 1.03 | 7.70 | trace | trace | trace | |
| PROSPECTING | |||||||||
| 864392 | 442502 | 5510389 | QV | 7.78 | 1.70 | trace | trace | 0.01 | |
| 864412 | 444984 | 5511684 | QV | 29.70 | 2.00 | 0.02 | 0.01 | trace | |
| 864414 | 445021 | 5511715 | SV | 0.52 | 49.10 | 4.17 | 1.68 | 0.05 | |
| 864415 | 445021 | 5511715 | SV | 0.12 | 23.70 | 1.71 | 0.54 | 0.01 | |
| 864589 | 445727 | 5511705 | N/A | 2.17 | 3.30 | 0.02 | 0.02 | 0.01 |
Legend: DIO – Diorite; QV – Quartz Vein; SV – Sulphide Vein; MAGSV – Magnetite-Actinolite-Chlorite-Monazite Sulphide (“Oxide-Sulphide”) Vein; N/A – Rock Types were not assigned.
Selected grab samples were taken from historic and new vein segments in sectors of the Target Area during various prospecting programs throughout the 2019 Exploration Campaign.
| Additional work is still required | to independently verify these results. LAURION cautions that |
| these selected grab samples may not be representative of mineralization on the Ishkoday. |
QA-QC Protocols
Samples for assay from this program were initially processed and prepared by ALS Global Geochemistry in Thunder Bay (Ontario), with pulps sent to and analyzed by ALS Global Analytical Lab in North Vancouver (BC), using the Fire Assay method of analysis. LAURION employs an industry standard system of external standards, blanks and duplicates for all its sampling in addition to the QA/QC protocol employed by the laboratory.
Selected grab samples were individually taken of fresh vein or surrounding host rock material by a LAURION qualified geologist. Individual samples weighed from 1 to 5kg each. Each sample was inserted in individual plastic bags with UTM coordinates and a field sample number. Each sample location was flagged with the field sample number. Field data on each sample was recorded and included field sample number, rock description and UTM coordinates. Individual plastic sample bags were taken to the LAURION field office, catalogued, an ALS sample tag was added to the bag, then sealed, and inserted in large nylon bags with standards, blanks and duplicates in a pre-established sequence. The nylon bags were then sealed and transported by LAURION to the ALS facility in Thunder Bay. Ontario.
Once at ALS, individual samples are again catalogued using the bar coding system, dried, weighed, crushed, pulverized to 70% <2mm, and riffle-split for final pulverization to 85% <75µm. A final 50 gram pulp split was taken for Fire Assay using Au-ICP22 gold analysis up to 10,000 ppb gold. Samples giving results beyond 10,000 ppb gold are re-analyzed with a new 50 gram pulp split to ore grade levels using a gravimetric finish. The Four Acid Digestion with ICP-AES Finish is used for multi-elements analysis that includes silver, zinc, copper and lead. Zinc,
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copper and lead values greater than 10,000ppm are re-analyzed using the Four Acid Overlimit Methods with results given in percent.
Qualified Persons
Mr. Jean Lafleur, P. Geo. (PGO, OGQ). LAURION’s VP Exploration is a Qualified Person as defined by National Instrument 43-101 and has reviewed and approved the technical content of this news release.
About Laurion
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 172,998,038 outstanding shares of which 58.2% 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 44 km2 Ishkoday Project, and its gold-silver and gold-rich polymetallic mineralization with a significant upside potential. Ishkoday has a project-wide database (2008 to 2018) that includes 283 diamond drill holes totaling 40,729 m, geological mapping, ground and airborne geophysics, and 14,992 individual samples with assays and geochemical analysis. 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, as evidenced in the past producing Sturgeon River Mine.
The 2018-2019 exploration initiated in May 2018 is a three-staged 18-month program with the strategic objective of outlining the precious and base metals upside potential at Ishkoday, part of the 5km by 1km Target Area of the southern claims block. The Exploration Team has confirmed the extent of known and new gold bearing quartz and polymetallic sulphide veins that will ultimately help in completing the construction of the 2-D and 3-D model and helping guide future exploration targeting. This Model will provide LAURION with a solid technical foundation to initiate diamond drilling to demonstrate upside potential across the 5km by 1 km Target Area at Ishkoday as part of the Stage 3 drill program starting later in 2019 and in 2020. The field portion of the Stage 2 Campaign is now completed.
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 Website: http://www.laurion.ca
Caution Regarding Forward-Looking Information
This news release contains forward-looking statements, which reflect the Corporation’s current expectations regarding future events, Laurion's business, operations and future plans for the development of the Corporation and/or the Ishkoday Gold Project, and management's objectives, strategies, beliefs and intentions.
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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 Corporation's common shares, 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.
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