LAURION provides an update on exploration and announces the discovery of a new mineralized outcrop

Laurion Mineral Exploration Inc. (TSXV: LME) (OTCPINK: LMEFF) (“LAURION” or the “Company”) is pleased to announce the following update on its 2021 exploration program on the Ishkoday property:

Strong points:

  • Trenches and stripping uncovered 4 new mineralized zones of interest: the A zone, the Niish zone and Garvey area and a new area, the Pond, located near the McLeod prospect.
  • New mineralized lenses of semi-massive sulphides were stripped on zone A. Other analyzes are pending.
  • A new mineralized zone of 4 subparallel veins, called ‘The Pond’ was also exposed. These veins are part of the McLeod mineralized system, which is hosted by an intermediate felsic volcanic sequence and strikes N215 with a dip of 70 to the south. Mineralization can be found in 4 distinct subparallel veins which are 20m apart and are composed of brecciated quartz with disseminated fine pyrite (up to 15%), chalcopyrite and sphalerite. The LiDAR investigation shows a possible extension of more than 400m along the strike. Mapping, interpretation and final analysis results are still pending.
  • A soil sampling survey was designed to cover 3 high magnetic anomalies located north of the Namewaminikan River. The areas show little historical prospecting, low density of outcrops and thick vegetation. Magnetic anomalies are interpreted as representing a possible extension of the north-south feature observed in the southern portion of the Property. Historical grab samples from this zone produced anomalous values ​​(0.082 g / t Au, 11.9 g / t Ag and 0.89% Cu and 0.356 g / t Au, 37.6 g / t Ag and 1.52 % Cu) for base and precious metals in exposed areas. trenches.
  • A LiDAR survey was carried out at the end of May on the entire property. This high-precision laser imaging survey provided Laurion with a high-definition digital elevation model (DEM). The new DEM model is essential in the interpretation of the structural characteristic of the property. Historic trenches are also evident on the survey and assist the geological team in the further expansion of previously known mineralized zones.
  • the 10,000 m The 2021 diamond drilling program has been halted due to the current risk of forest fires (see press release from July 21 st , 2021). Of the initial 6,079 meters of drilling completed to date, assay results for 4,758 meters of drilling have been received and highlights are presented in Table 1 below.

Exploration drilling in 2021 began with the goal of defining the mineralized system along a 1.25 km lateral extension of Zone A (Behzik Zone) from the Niish 2020 Discovery Zone to the McLeod Zone. Preliminary observations and results confirmed the existence of an extension of the new Niish structure 850 m to the northeast in hole LBX21-032. Drilling confirmed the extension at depth of the Behzik zone to approximately 410m below surface level as well as its steep northwesterly dip.

The first drill holes targeted unexplored areas at depths of approximately 650m from the surface, across the direction of 1.25 km to study the geometry and grade distribution of the large Niish and Behzik zone. The drilling was also carried out in order to understand the litho-structural model and to define the mineralized system as seen in historical drilling (1980s and 1990s) and LAURION (2012 to 2020), which intersected grades and significant widths of gold and base metal mineralization. .

Highlights of the first 7 exploration holes:

Hole ID

Of

TO

Core length *

At g / t

Ag g / t

% cu

Zn%

AuEq

LBX21-032

206.20

228.80

22.60

0.01

0.81

0.02

0.60

0.36

286.00

293.70

7.70

0.08

3.12

0.09

1.39

0.97

653.50

655.30

1.80

0.44

13.30

0.13

5.08

3.42

LBX21-033

359.70

361.50

1.80

1.95

4.27

0.22

1.15

2.96

492.00

494.90

2.90

0.37

8.53

0.26

1.01

1.43

LBX21-034

131.10

133.00

1.90

1.55

9.47

0.07

2.26

2.94

150.40

153.40

3.00

0.34

4.52

0.10

1.42

1.28

304.30

312.70

8.40

0.15

2.34

0.05

1.19

0.86

LBX21-035

423.40

432.40

9.00

1.50

10.63

0.33

1.04

2.71

429.20

432.40

3.20

4.13

26.20

0.90

2.22

7.07

LBX21-036

108.00

109.00

1.00

3.94

1.30

0.00

0.01

3.97

438.80

441.90

3.10

0.93

15.80

0.43

0.81

2.26

512.50

515.80

3.30

0.20

3.23

0.10

2.52

1.68

522.30

532.20

9.90

0.03

0.66

0.03

0.56

0.37

LBX21-037

125.00

127.80

2.80

1.73

1.79

0.02

0.07

1.84

416.40

425.60

9.20

0.03

3.69

0.16

1.54

1.11

517.30

532.00

14.70

0.24

0.25

0.00

0.01

0.25

LBX21-038

303.10

306.50

3.40

0.04

3.78

0.09

1.30

0.89

* The actual thicknesses remain to be estimated because the 3D modeling of the zones is still awaiting update

Table 2: Drill the coordinates of holes LBX21-032 to LBX21-039. (UTM NAD83 Zone 16N)

Hole ID

Azimuth

Soak

Length

To the East

North

Elevation

LBX21-032

126

-50

725

446400.4

5513397.7

319.8

LBX21-033

306

-50

644

446611.6

5512751.5

323.2

LBX21-034

263

-54

350

446779.3

5513212.1

326.5

LBX21-035

126

-50

800

445840.3

5512815.8

325.0

LBX21-036

126

-50

705.8

445 794.9

5512667.7

326.0

LBX21-037

310

-50

604

446123.6

5512450.0

329.0

LBX21-038

307

-51

459

446066.5

5512430.8

330.7

LBX21-039

307

-52

467

446122.0

5512588.7

321.5

Exploration for the remainder of 2021:

The rest 3,550 m Drilling will focus on infill drilling in the areas between Zone A and the McLeod Zone as well as extending the McLeod to the southwest, which in turn could extend the lateral length of Zone A / McLeod over 1.4 km.

The southwest McLeod extension contains encouraging results from historic surface trenches and an associated high magnetic anomaly and high chargeability date PP, as shown in Figure 1 showing a mineralized interval based on 3m more than 0.5 g / t AuEq. No drilling has been carried out in this area to date.

Qualified person

The technical information contained in this press release has been prepared in accordance with Canadian regulatory requirements and has been reviewed and approved by Jean-Philippe Payment , PGeo, MSc, a consultant to Laurion and a “qualified person” within the meaning of NI 43-101.

About LAURION

The Company is a junior mining exploration and development company listed on the TSX Venture Exchange under the symbol LME and on the OTCPINK under the symbol LMEFF. LAURION now has 233,473,342 shares outstanding of which approximately 79% are owned and controlled by insiders who are eligible investors in the “Friends and Family” categories.

LAURION focuses on the development of its flagship project, the mid-stage 47 km 100% owned 2 Ishkoday Project, and its polymetallic mineralization rich in gold-silver and gold with significant upside potential. Mineralization on Ishkoday is open at depth beyond the current core limit of -200m of the surface, based on historical mining at a -685m depth, in the past producing the Sturgeon River mine. The Brenbar property, acquired in 2020, is contiguous with the Ishkoday property, which houses the historic Brenbar mine. LAURION believes the mineralization is a direct extension of the mineralization of the Ishkoday property.

Caution regarding forward-looking information

This press release contains forward-looking statements, which reflect the Company’s current expectations regarding future events, including with respect to the business, operations and condition of LAURION, and the objectives, strategies, beliefs and intentions of the Company. direction. 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, in particular due to a change in the price of LAURION’s common shares, the interpretation and actual results of exploration activities, changes in project parameters as plans continue to be refined, future prices of gold and / or other metals, possible variations in recovery grade or rates, failure of equipment or processes to function as intended, failure of contracting parties to perform, labor disputes and other risks of the mining industry, delays in obtaining government or funding approvals or in completing exploration, as well as factors disclosed in the Company’s public records. Investors should consult the current quarterly and annual documents of the Company, as well as any other additional documentation including the Company’s public disclosure record, for additional information on the risks and uncertainties associated with such forward-looking statements. The reader is cautioned not to rely on these forward-looking statements. Subject to applicable laws, the Company disclaims any obligation to update these forward-looking statements.

NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATORY SERVICES PROVIDER (AS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THE CONTENTS OF THIS RELEASE. .

SOURCE Laurion Mineral Exploration Inc.

Cision View original content: http://www.newswire.ca/en/releases/archive/August2021/10/c4169.html

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