TORONTO, ONTARIO - (June 19, 2024) – TheNewswire – Laurion Mineral Exploration Inc. (TSX.V: LME and OTCPINK: LMEFF) (“LAURION” or the “Corporation”) is pleased to provide an update on its 2024 exploration and drilling efforts at the Ishkõday Project, situated 220 km northeast of Thunder Bay, Ontario.

 

Exciting progress marks LAURION's completion of its Spring 2024 diamond drill program on the Sturgeon River Mine, encompassing 4,289 metres of drilling activity. The results from the initial five drill holes (LME24-041 to LME24-045) have been processed and reported, as detailed in the Corporation's press releases dated May 1, 2024 and May 23, 2024.

 

Stated Cynthia Le Sueur–Aquin, President and CEO of LAURION: “We are encouraged by what we perceive to be promising results from our Spring 2024 drill program on the Sturgeon River Mine area. The initial five drill holes have provided significant insights into the mineralization of this historic site. Highlights of the latest drill holes, LME24-046 to LME24-048, underscore the potential of the area.”

LME24-046 has returned noteworthy intersections, including:

• 2.60 metres at 0.87 g/t Au from 637.00 to 640.60 metres, with a higher-grade interval of 0.60 metres at 3.21 g/t Au. 

• 10.25 metres at 0.49 g/t Au from 721.75 to 732.0 metres, including 6.65 metres at 0.70 g/t Au, and 4.10 metres at 0.98 g/t Au. 

• Additional intervals of 0.55 metres at 1.68 g/t Au and 0.60 metres at 1.34 g/t Au. 

LME24-047 has demonstrated encouraging gold grades with intersections such as:

• 0.50 metres at 5.84 g/t Au from 124.70 to 125.20 metres. 

• 1.30 metres at 11.61 g/t Au from 505.30 to 506.50 metres, including 0.50 metres at 52.30 g/t Au. 

• Further notable intersections include 0.50 metres at 25.90 g/t Au and 2.00 metres at 2.73 g/t Au. 

LME24-048 has also yielded the following encouraging results:

• 1.50 metres at 1.17 g/t Au from 365.50 to 367.00 metres. 

• Additional intervals of 0.55 metres at 1.70 g/t Au and 1.50 metres at 1.17 g/t Au. 

During this phase of the Spring 2024 drill program, LAURION strategically positioned drill holes LME24-046, LME24-047, and LME24-048 to enhance understanding of the stratigraphic boundaries surrounding the historic Sturgeon River Mine. LME24-046 to 48 effectively probed the stratigraphy to the east and west, covering an extensive area spanning approximately 385 metres. The objective of drill hole LME24-046 was specifically oriented to target the underground workings of the mine. This meticulous approach reflects LAURION's commitment to adopting comprehensive exploration practices, aimed at maximizing insights into potential mineralization.

These results not only validate our exploration strategy but also reinforce our confidence in the significant mineral potential of the Sturgeon River Mine area. As we continue to analyze and interpret the data, we remain dedicated to advancing our understanding of this promising project and creating long-term value for our stakeholders.

Assay Results: Highlights of the Northeastern Sturgeon River Mine Drill Holes LME24-046, LME24-047 and LME24-048

 

Hole ID	From (m)	To (m)	Core Length (m)	Au (g/t)
LME24-046	45.20	46.20	1.00	0.73
LME24-046	116.00	116.60	0.60	1.34
LME24-046	156.05	156.55	0.50	0.57
LME24-046	197.80	198.75	0.95	1.09
LME24-046	254.25	257.40	3.15	0.40
including	254.25	255.40	1.15	0.95
including	254.25	254.80	0.55	1.68
LME24-046	425.90	426.40	0.50	0.92
LME24-046	602.40	603.20	0.80	0.53
LME24-046	638.00	640.60	2.60	0.87
including	639.50	640.10	0.60	3.21
LME24-046	721.75	732.00	10.25	0.49
including	721.75	728.40	6.65	0.70
including	721.75	725.85	4.10	0.98
LME24-046	745.55	746.05	0.50	0.75
LME24-047	4.35	5.00	0.65	0.61
LME24-047	26.10	27.00	0.90	0.81
LME24-047	84.30	85.15	0.85	1.09
LME24-047	124.70	125.20	0.50	5.84
LME24-047	211.65	212.15	0.50	2.00
LME24-047	296.40	297.00	0.60	0.60
LME24-047	403.00	403.50	0.50	0.85
LME24-047	463.00	463.75	0.75	0.54
LME24-047	505.20	506.50	1.30	20.19
including	505.20	505.70	0.50	52.30
LME24-047	519.50	520.00	0.50	25.90
LME24-047	560.00	560.70	0.70	1.05
LME24-047	617.50	627.55	10.05	0.46
including	617.50	618.85	1.35	1.10
including	624.00	625.70	1.70	1.32
LME24-047	663.90	665.55	1.65	0.62
including	663.90	664.55	0.65	1.25
LME24-047	724.45	725.05	0.60	1.73
LME24-047	764.00	766.00	2.00	2.73
LME24-047	764.00	764.55	0.55	8.88
LME24-047	765.50	766.00	0.50	1.12
LME24-048	7.40	7.90	0.50	0.63
LME24-048	41.30	42.40	1.10	0.57
including	41.90	42.40	0.50	1.08
LME24-048	112.80	113.35	0.55	1.70
LME24-048	306.00	306.65	0.65	0.71
LME24-048	339.40	340.15	0.75	0.46
LME24-048	365.50	367.00	1.50	1.17

A comprehensive prospecting program is in progress for the zones west of the Sturgeon River Mine shaft and the Brenbar Mine areas. The objective is to expand and identify new prospective areas in close proximity to the Sturgeon River Mine Shaft, enhancing the potential for future exploration and drilling.

 

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 River Mine site core farm for final storage.

 

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

The Corporation is a junior mineral exploration and development company listed on the TSX Venture Exchange under the symbol LME and on the OTC under the symbol LMEFF. LAURION now has 267,271,735 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 57.43 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 and Instagram laurionmineral

 

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 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 parametres 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.

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