TORONTO / ACCESSWIRE / May 14, 2014 / Laurion Mineral Exploration Inc. (TSX.V: LME; OTCQX: LMEFF) (“Laurion“) is pleased to announce as the initial step to define a phase-one drill program, the results of two strategic diamond drill holes totalling 424m on the high grade polymetallic “A” Zone of the Loki Trend, Ishkoday Property located 220km north east of Thunder Bay, Ontario.
Important results of the drill program are:
- The known dip extent of the total mineralized zone has increased from 75m to 165m, more than doubling the dip length.
- The estimated thickness of the alteration zone has also increased from approximately 20m to 40m in width, possibly reflecting proximity to the mineralizing source.
- Deeper intersections in the mineralized zone are somewhat richer in copper, with higher associated silver values. This may also be indicating a transition to closer proximity to mineralizing source with depth.
- There are multiple narrow lenses of higher grade mineralization within a broader mineralized alteration halo. Sulphide lenses may vary from less than a metre to several tens of metres thick and have highly variable length and widths.
- Unmineralized porphyritic diorite dykes cut through and likely displace the mineralized zones. This is a common feature of syngenetic VMS deposits. The term syngenetic refers to mineral deposits that are interpreted to have formed on the seafloor more or less at the same time as the host rocks.
Assays from drill holes LBX14-018 and LBX14-019 are as follows:
Significant assay values with drill hole intercept length and estimated true width are contained in the table above. True widths are estimated based on the known geometry of the zone from 8 holes drilled in 2012 that are proximal to the two current drill holes.
Cross sections of diamond drill holes LBX14-018 and LBX14-019 can be viewed at: http://www.laurion.ca/s/ishkoday.asp?ReportID=552927
The two drill holes were completed in April 2014, and followed up on the high grade drilling results associated with the Loki Trend “A” Zone mineralization. In the October 18, 2012 press release, an intercept of 3.31 g/t Au, 18.1 g/t Ag, 0.09% Cu and 3.72% Zn over 12.84m was reported, and included a 5.25 g/t Au, 40.1 g/t Ag, 0.29% Cu, 8.38% Zn and 1.24% Pb over 4.04m in diamond drill hole LBX12-010. Holes LBX14-018 and LBX14-019 were designed to test down the dip extension of mineralization intersected in LBX12-010.
Hole LBX14-018 was drilled sub-parallel to and approximately 50m down dip of the intersection in LBX12-010 and in the core of the zone intersected 0.40 g/t Au, 4.3 g/t Ag, 0.09% Cu and 1.03% Zn over 7.84m. It was designed to cross the mineralized stratigraphy at a high angle (approximately normal to dip and strike).
HoleLBX14-019 was designed to intersect the zone at a highly oblique angle (down dip hole). This hole was drilled to document the change in style and grade of mineralization in the “A” Zone, and to ascertain whether there was continuity of grade over significant dip length in the zone, and to determine controlling structures on the higher grade portions of the zone. This hole was collared in the centre of the mineralized structure and remained in variable mineralization until 162.37m down hole where it passed through the footwall contact of the mineralized zone into the alteration envelope. Included within the mineralized zone are two diorite porphyry dykes that cut through and likely displace the mineralized zone at 33.79m to 36.25m and 71.00m to 78.90m, and these intervals have essentially zero grade. The latter dyke cut through part of the higher grade intersection. Because of the oblique angle of drilling the true widths of the mineralized zones in LBX14-019 are much less than the drill lengths (see table). The best drill intercept within this zone was 2.27 g/t Au, 10.1 g/t Ag, 0.09% Cu and 2.05% Zn over 10.22m (estimated 2.66m true width). The true width of the mineralized zones is based on drilling, including holes LBX14-018 and 019; and LBX12-001, 002, 007, 008, 009 and 010. A true thickness for the entire mineralized zone is 35m to 40m.
In addition to the assays for metals, analysis is underway to provide major and minor element whole rock information to help with determining the intensity and nature of the alteration package associated with the base and precious metal mineralization. These data, taken together with a planned program of downhole and surface geophysics, will assist in defining vectors to the mineralizing source which can be tested in the next stage of drilling.
All sampling from this diamond drill program was delivered by GeoVector Management Inc. personnel to the Activation Laboratories (“Actlabs”) facility in Thunder Bay and/or Geraldton. Actlabs is an ISO/IEC 17025 accredited analytical laboratory. Analysis for gold was by fire assay with AA finish, followed by fire assay with gravimetric finish for samples over 3.0 g/t Au. Samples were also treated with a multi-acid ICP process, and base metal values over detection limit were treated to ore grade base metal assays. Analytical accuracy and precision are monitored at the laboratory by the analysis of reagent blanks, reference material and replicate samples. Quality control is further assured by the use of international and in-house standards. GeoVector also routinely inserted blanks and certified standards into the sample stream in order to independently assess analytical accuracy. All certified standard assays were within acceptable limits.
The technical information contained in this news release has been verified by Joe Campbell, P.Geo., consulting geologist with GeoVector Management Inc. Mr. Campbell is the project manager for Laurion’s Ishkoday project and is a Qualified Person as defined in “National Instrument 43-101, Standards of Disclosure for Mineral Properties.”
Projected Exploration Planning and Outlook
Laurion’s goal is to discover gold-rich massive sulphides at Ishkoday. To help this, Laurion is developing a “fingerprint” or model of the mineralization by comparing it to other known deposits. Based on the current drilling information, the model is stacked gold-rich massive sulphide lenses hosting base metals (silver-copper-zinc) within a large mineralized halo.
Over the next 6 months, Laurion’s objective is to complete a program composed of the following:
- An aerial survey utilizing a UAV (“Unmanned Aerial Vehicle”) system for low-cost, high-resolution aerial photography over a specified area of 4.5km² to produce a set of accurate aerial base maps. The UAV output can be used to generate geo-referenced orthophotos and 3D digital elevation models (DEM’s) with a ground resolution up to 4.0cm. Unlike traditional aerial photography and LIDAR, the cost of surveying with the UAV aerial mapping system is low enough that actively-changing environments can be flown as frequently as needed, capturing change-with-time at low cost.
- A 4-5 day property visit involving structural and volcanogenic massive sulphide experts retained by Laurion to examine key outcrops and collect structural orientation data, undertake sampling and geochemical analyses with the objectives of producing regional targeting concepts, recommendations for effective exploration techniques, and the definition of priority target zones.
- These data will be complemented with a program of 10km of IPower 3D ground geophysical surveys perpendicular to the strike of the 3,000m long Loki Trend. These techniques will help define lithologic contacts and controlling structures. In addition, key rock units, contact zones and alteration zones likely associated with mineralization, will be more clearly identified.
- Following key target identification together with existing projected targets, a phase one exploration drill program composed of 6,500m of diamond drilling will focus on testing the depth extent of the significant three 3,000m each long gold-zinc rich trends with in a 1km wide corridor, targeting the core of the VMS style mineralization and possible associated feeder structures.
- A program of mapping and prospecting is also planned along a further trend to the south of the three massive sulphide trends.
About Laurion Minerals Exploration Inc.
Laurion’s Ishkoday discovery project is harnessed within a 100% owned 4,442ha property package, located 220km northeast of Thunder Bay with easy access off the Trans-Canada Highway.
Laurion is focussed on unlocking the value of the Ishkoday gold and base metal environment hosted within three base metal trends, 3,000m each in strike length, in a 1km wide corridor. Laurion is expanding on a legacy of gold production from the Ishkoday shaft which is hosted in a significant gold environment.
Laurion’s balanced and diversified management team is results driven and has achieved a decade of growth through asset monetization. Laurion’s management objective is to advance the Ishkoday project from discovery to value creation to exit strategy.
FOR FURTHER INFORMATION, CONTACT:
Laurion Mineral Exploration Inc.
Cynthia Le Sueur-Aquin – President
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release includes certain forward-looking statements concerning the future performance of Laurion’s business, operations and financial performance and condition, as well as management’s objectives, strategies, beliefs and intentions. Such statements include, but are not limited to, statements concerning the approval of Laurion’s application to trade its common shares over the facilities of the OTCQX and the commencement of such trading. Forward-looking statements are frequently identified by such words as “may”, “will”, “plan”, “expect”, “anticipate”, “estimate”, “intend” and similar words referring to future events and results. Forward-looking statements are based on the current opinions and expectations of management. All forward-looking information is inherently uncertain and subject to a variety of assumptions, risks and uncertainties, including the speculative nature of mineral exploration and development, fluctuating commodity prices, competitive risks and the availability of financing, as described in more detail in our recent securities filings available at www.sedar.com. Actual events or results may differ materially from those projected in the forward-looking statements and Laurion cautions against placing undue reliance thereon. Laurion and its management assume no obligation to revise or update these forward looking statements.
Source: Laurion Mineral Exploration Inc.