Highlights

Ishkoday Gold and Base Metal Project: A Comprehensive Overview and Key Highlights

LAURION places significant emphasis on the advancement of its flagship venture, the Ishkoday Project, which is wholly owned and spans 57.43 km2. This project boasts multiple occurrences of both gold and base metal mineralization. Situated 220 km northeast of Thunder Bay and 28 km northeast of Beardmore, the Ishkoday Project encompasses portions of the Elmhirst, Walters, Pifher, Irwin and Summer Townships. Notably, it benefits from favorable year-round accessibility and close proximity to essential services such as electricity and water, factors which contribute to minimized exploration expenditures.

Historically, the Ishkoday Project includes the Sturgeon River Mine, operational from 1936 to 1942. During this period, it yielded 73,322 ounces of gold and 15,929 ounces of silver from approximately 145,123 tonnes of ore grading 17 g/t gold. Gold was predominantly found in quartz veins, pyrite, and within fractures and altered wall rocks consisting of pyrite-chlorite-sericite. The historical mining depth reached as far as 685 metres below surface, surpassing the current diamond drill limit of -200 metres (source: Mackasey, 1975).

Adjacent to Ishkoday is the Brenbar Property, acquired by LAURION in 2020. Located westward, it hosts the historical Brenbar mine, although specific production data from this site remains undisclosed. However, available information suggests a potential continuity of gold mineralization along the same strike as the documented historical Sturgeon River mine.

LAURION maintains an extensive property-wide database, inclusive of 428 diamond drill holes totaling 82,299 meters, alongside various geophysical datasets such as magnetics, electromagnetics, IP, and LiDAR. Additionally, the LAURION has conducted thorough geological mapping, trenching, and channel sampling, with multi-element analyses across numerous mineralized occurrences and zones within the expansive 6 km by 2.5 km "corridor" hosting gold and polymetallic base metal-silver+/-gold mineralization.

Meticulous work conducted by LAURION geologists has established the Ishkoday Project as the result of two distinct mineralizing events, occurring 40 million years apart but exploiting the same structural domain. These events comprise an initial epithermal and polymetallic phase followed by a mesothermal (orogenic) phase, rich in gold. This understanding has prompted a comprehensive reevaluation of the property's exploration potential, with a focus on identifying areas with the potential for concentrated and well-mineralized veins and related zones, prioritizing gold followed by base metals.

LAURION's interest in the Ishkoday Project encompasses several parcels situated within the southern portion of the Onaman-Tashota Greenstone Belt, spanning the Irwin, Walters, Elmhirst, Pifher, and Summer Townships. For further details, refer to the table below summarizing the various blocks held by LAURION: