Toronto, Ontario–(Newsfile Corp. – April 10, 2018) – Laurion Mineral Exploration Inc. (TSXV: LME) (OTC Pink: LMEFF) (“Laurion” or the “Corporation”) wishes to announce that the Annual General and Special Meeting of the Shareholders of the Corporation will be held in Toronto at the offices of Miller Thomson LLP, Scotia Plaza, 40 King Street West, Suite 5800, Toronto (Ontario) M5H 3S1, on Friday, May 11, 2018 at 11:00 A.M. (Toronto time).
At this Annual and Special Shareholder Meeting, key initiatives and timelines will be presented, which will progressively move Laurion’s Ishkoday project significantly forward in the short-term.
According to Cynthia Le Sueur-Aquin, President and CEO of Laurion, “We anticipate being in the financial position to advance Laurion’s Ishkoday gold-rich polymetallic project several steps forward. The Ishkoday offers significant upside and this will truly be exciting for our shareholders!”
Appointment to the Technical Advisory Committee
As part of this corporate trajectory, the Corporation also wishes to welcome a new key technical appointee, Mr. Jean Lafleur to the Advisory Committee.
Cynthia Le Sueur-Aquin, President and CEO of Laurion stated, “Mr. Lafleur brings to the table excellent technical comprehension of the Ishkoday’s geology and resource potential. Mr. Lafleur will play a key leadership role in rapidly advancing the exploration and development of the Ishkoday Project.“
Mr. Lafleur graduated with a B. Sc. and M. Sc. in Geology from the University of Ottawa (1978, 1986). He has practiced in Mineral Exploration since the early 1980s, having initially worked with major companies such as Newmont, Falconbridge, Dome Mines and Placer Dome; followed as a Consultant in a number of small cap junior companies from 1998 to this day. He has successfully led exploration teams in Canada and internationally. Jean has served as a Director and Executive within many of these companies, in start-up mode as well as in marketing and financing. He is a Specialist in Precious and Base Metals, in the planning and execution of Greenfields to Brownfields mineral exploration programs, and implementing exploration strategies geared for success.
The Ishkoday Project
Laurion’s Ishkoday Project is a mid-stage exploration project. The Corporation’s emphasis is on the development of its gold-silver and gold-rich polymetallic mineralization with a significant upside potential.
The Corporation’s main objective is to demonstrate the existence of a large near surface significant gold-polymetallic target over a 3km2 area.
Mineralization on the Ishkoday exhibits repetitive stacked gold and zinc-rich sulphides in lenses and veins, visible in the mineralized outcrop exposure, which also contains a material amount of fine and coarse gold. The mineralization appears open at depth beyond the current core drilling limit of -200m from surface, based on the historical mining to a -685m depth, as evidenced in the Sturgeon River Mine.
To date the Corporation has a property-wide database of 283 diamond drill holes totalling 40,729m, detailed sampling, mapping, assays and geochemical analysis, and ground geophysics.
The Ishkoday Project hosts the former Sturgeon River Mine, which produced 73,322 ounces of gold, and 15,929 ounces of silver (1936-1942) from the No. 3 Vein (24 g/t gold), generating a large gold and silver bearing stockpile of 144,070 tonnes in the indicated resource category. (NI 43 -101 — See Press Release April 23, 2013)
The Ishkoday hosts a series multi-directional veins (and stockworks). The N-NE vein sets are gold-silver-quartz bearing; whereas the NE-E sets are gold-silver-zinc-copper bearing. The abundance and proximity of these vein sets within a 3km by 1km outcrop segment of Ishkoday highlights the probability for near surface bulk metal potential; at the same time offering a Volcanogenic Massive Sulphide (“VMS“) metallogenic environment; as well as individual higher gold grade veins that could be developed separately.
Previous work since the 1980s indicates the presence of hundreds of shears, hence hundreds of veins, suggesting the potential for material vein stockworks as can be observed at other deposits in Archean Greenstone Belts, such as the Dome, Canadian-Malartic, Detour and Sigma-Lamaque Gold Deposits of the Abitibi Greenstone Belt. In the case of the Ishkoday Project, it is evident that there are two mineralized systems, one gold-silver-rich and the other gold-silver-zinc-copper.
Mr. Jean Lafleur, P. Geo., 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.
Laurion Mineral Exploration Inc. is a small-cap mid-stage junior exploration company focused on its wholly owned 47km2 Ishkoday Project.
The Corporation’s main objective is to demonstrate the existence of near surface bulk mineralization in gold-silver and gold-rich polymetallic mineralization which extend over a 3 km x 1 km area (a collective total strike length of 9,000m), and also on the remainder of the project.
The Ishkoday Project is located 220km NE of Thunder Bay and 28km NE of Beardmore and conveniently straddles Highway #807. The Ishkoday property has favourable year round access and proximity to all services, including grid power and water supply, which management believes translates to lower exploration and development costs.
FOR FURTHER INFORMATION, CONTACT:
Laurion Mineral Exploration Inc.
Cynthia Le Sueur-Aquin — President and CEO
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 use of net proceeds from the Private Placement. 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, the TSX Venture Exchange not providing its final approval for the Private Placement, 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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