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TORONTO, April 30, 2019 /CNW/ - LAURION Mineral Exploration Inc. (TSX.V: LME) and (OTCPINK: LMEFF) ("LAURION" or the "Corporation") is pleased to announce results of the Corporation's initial construction of the litho-structural predictive model (the "Model") at the Corporation's wholly-owned Ishkoday Gold-Polymetallic Project ("Ishkoday"). LAURION's work to date has interpreted the presence of the new structural corridor: the 5km wide gold bearing Ishkoday Deformation Zone ("IDZ").
Additional predictive modeling will be performed by Mira Geoscience ("Mira") of Montreal (Quebec), who will generate a comprehensive 3-D image of the shear/deformation zones in and around Ishkoday, local faults, lithologies, and areas of potential enhanced quartz vein and sulphide development to concentre gold, silver, copper and zinc. The 3D model will incorporate LAURION's project-wide database of 40,729m of diamond drilling, 14,992 individual samples with assays and geochemical analysis, geological mapping and ground geophysical data. This 3D inversion model will provide a comprehensive end product, which will serve as the basis for effective exploration program decisions and drill targeting.
The Ishkoday Deformation Zone
LAURION has identified a new shear/deformation zone on Ishkoday, an apparent new splay from the Paint Lake Shear/Deformation Zone (the "PLDZ"). The new Break is similar to the PLDZ, and to other gold bearing deformation zones such as in the Abitibi Greenstone Belt: the Destor Porcupine ("DPDZ") and Cadillac Larder Lake Deformation Zone ("CLLDZ"), which host major gold deposits.
This major kilometric long and wide northeast-southwest structural corridor encompasses most of the known precious and base metal mineralization at Ishkoday of the main 3km by 1km Target Area (refer to the Corporation's news releases dated December 4, 2018 and February 14, 2019). Mineralization is open along strike to the east-northeast and west-southwest; and is open at depth down-plunge beyond 650m as indicated from the historic Sturgeon River Mine development and production.
Confidence in the model is demonstrated by the presence and abundance of surface exposed mineralized shears and multi-directional gold-bearing quartz veins/stockworks with local sulphide development (pyrite, chalcopyrite and sphalerite). The structurally hosted gold mineralization is primarily associated with more than 120 centimeter to meter wide quartz veins trending north to northeast, extend 100's to 1,000's meters in length, intersect all lithologies, including older vein-type copper-zinc mineralization.
Quartz veins, their extent and patterns mimic other lode gold deposits in the Abitibi Greenstone Belt, as at the Canadian-Malartic, Sigma-Lamaque, Dome, Detour, Bousquet-Doyon-LaRonde deposits.
For the purposes of the LAURION Model, the new shear/deformation zones of the Onaman outside of the Break are the Northwind, Fairview and Onaman "Breaks". Ishkoday occurs on the southernmost "Breaks", the Sturgeon River Break, where there are at least two additional subsidiary shear/deformation zones giving an overall 5 km width to the combined IDZ. The proximity of the PLDZ to the IDZ suggest a splitting of the former into multiple east-west to northeast-southwest shears at Ishkoday, giving the Ishkoday Deformation Zone. The presence of multiple shears and movement within the Break would significantly fracture the brittle felsic volcanic package at Ishkoday, allowing for the development of the observed quartz veins with gold-sulphides.
For further information on the Ishkoday model, please refer to the LAURION website - http://laurion.ca/ishkoday-project/geology/ishkoday-model/
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 143,630,084 outstanding shares of which 59.4% are owned and controlled by Insiders and within the "friends and family" category. The Corporation's emphasis is on the development of its flagship project, the 100% owned mid-stage Ishkoday Gold-Polymetallic Project containing a significant upside potential.
LAURION's current exploration is focussed on Ishkoday's near term potential of major near surface mineral resources in both gold and base metals based on the network of un-developed quartz veins similar to those observed at other gold deposits in the immediate region and in other greenstone belts.
Mr. Jean Lafleur, P. Geo. (APGO, OGQ), LAURION 's Technical Advisor to the Board of Directors, is a Qualified Person as defined by National Instrument 43-101 guidelines, and has reviewed and approved the content of this news release.
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 details, anticipated timing and completion of the transactions and other matters outlined in this press release, including without limitation, the timing, completion and future results of the Corporation's exploration program at Ishkoday. 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.
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SOURCE Laurion Mineral Exploration Inc.
For further information: LAURION Mineral Exploration Inc., Cynthia Le Sueur-Aquin, President & CEO, Tel: 1-705-788-9186, Fax: 1-705-805-9256, Website: http://www.LAURION.ca