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Ishkoday - Ontario

March 2014 - Drill Program

In March 2014, Laurion completed a two strategic diamond drill hole program totalling 424m, in order to define a phase-one drill program, on the high grade polymetallic "A" Zone of the Loki Trend, Ishkoday Property located 220km north east of Thunder Bay, Ontario.

Important results of the drill program are:
  • The known dip extent of the total mineralized zone has increased from 75m to 165m, more than doubling the dip length.
  • he estimated thickness of the alteration zone has also increased from approximately 20m to 40m in width, possibly reflecting proximity to the mineralizing source.
  • Deeper intersections in the mineralized zone are somewhat richer in copper, with higher associated silver values. This may also be indicating a transition to closer proximity to mineralizing source with depth.
  • There are multiple narrow lenses of higher grade mineralization within a broader mineralized alteration halo. Sulphide lenses may vary from less than a metre to several tens of metres thick and have highly variable length and widths.
  • Unmineralized porphyritic diorite dykes cut through and likely displace the mineralized zones. This is a common feature of syngenetic VMS deposits. The term syngenetic refers to mineral deposits that are interpreted to have formed on the seafloor more or less at the same time as the host rocks.
Assays from drill holes LBX14-018 and LBX14-019 are as follows:

LBX14-018 From (m) To (m) Core Length (m) Estimated True Width (m) Au g/t Ag g/t Cu % Zn %
  100.00 147.16 47.16 34.77 0.18 1.5 0.04 0.39
incl. 107.00 114.84 7.84 5.78 0.40 4.3 0.09 1.03
and incl. 137.50 139.50 2.00 1.48 0.61 2.3 0.05 2.62


LBX14-018 From (m) To (m) Core Length (m) Estimated True Width (m) Au g/t Ag g/t Cu % Zn % Pb %
  2.40 49.83 47.43 12.33

0.31

4.0

0.03

0.52

 
incl. 2.40 6.00 3.60 0.94 0.92 17.3 0.10 1.95 0.15
and incl. 46.00 49.15 3.15 0.82 1.14 13.1 0.08 3.47

0.11

  65.72 162.37 96.65 25.13 0.60 5.1 0.08 0.68  
incl. 65.72 67.63 1.91 0.50 10.40 20.3 0.15 2.04  
and incl. 78.90 89.12 10.22 2.66 2.27 10.1 0.09 2.05  
and incl. 94.96 98.40 3.44 0.89 0.77 7.4 0.08 1.27  
and incl. 111.00 113.46 2.46 0.64 0.71 9.9 0.10 1.89  
and incl. 155.96 162.37 6.41 1.67 0.28 29.2 0.58 2.94  


Significant assay values with drill hole intercept length and estimated true width are contained in the table above. True widths are estimated based on the known geometry of the zone from 8 holes drilled in 2012 that are proximal to the two current drill holes.


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The two drill holes were completed in April 2014, and followed up on the high grade drilling results associated with the Loki Trend "A" Zone mineralization. In the October 18, 2012 press release, an intercept of 3.31 g/t Au, 18.1 g/t Ag, 0.09% Cu and 3.72% Zn over 12.84m was reported, and included a 5.25 g/t Au, 40.1 g/t Ag, 0.29% Cu, 8.38% Zn and 1.24% Pb over 4.04m in diamond drill hole LBX12-010. Holes LBX14-018 and LBX14-019 were designed to test down the dip extension of mineralization intersected in LBX12-010.

Hole LBX14-018 was drilled sub-parallel to and approximately 50m down dip of the intersection in LBX12-010 and in the core of the zone intersected 0.40 g/t Au, 4.3 g/t Ag, 0.09% Cu and 1.03% Zn over 7.84m. It was designed to cross the mineralized stratigraphy at a high angle (approximately normal to dip and strike).

HoleLBX14-019 was designed to intersect the zone at a highly oblique angle (down dip hole). This hole was drilled to document the change in style and grade of mineralization in the "A" Zone, and to ascertain whether there was continuity of grade over significant dip length in the zone, and to determine controlling structures on the higher grade portions of the zone. This hole was collared in the centre of the mineralized structure and remained in variable mineralization until 162.37m down hole where it passed through the footwall contact of the mineralized zone into the alteration envelope. Included within the mineralized zone are two diorite porphyry dykes that cut through and likely displace the mineralized zone at 33.79m to 36.25m and 71.00m to 78.90m, and these intervals have essentially zero grade. The latter dyke cut through part of the higher grade intersection. Because of the oblique angle of drilling the true widths of the mineralized zones in LBX14-019 are much less than the drill lengths (see table). The best drill intercept within this zone was 2.27 g/t Au, 10.1 g/t Ag, 0.09% Cu and 2.05% Zn over 10.22m (estimated 2.66m true width). The true width of the mineralized zones is based on drilling, including holes LBX14-018 and 019; and LBX12-001, 002, 007, 008, 009 and 010. A true thickness for the entire mineralized zone is 35m to 40m.

January 2014 Drill Program

A total of 533m of diamond drilling was completed in 4 holes In January 2014. Two diamond drill holes (LME14-030 and LME14-031) followed up on the high grade channel and grab samples of 15.00 g/t Au, 35.4 g/t Ag, 1.07% Zn and 0.41% Cu over 1m, 3.14 g/t Au, 23.2 g/t Ag, 2.62% Zn, 0.20% Cu and 0.15% Pb over 3m, 10.20 g/t Au, 45.5 g/t Ag, 22.30% Zn and 3.32% Pb (Grab). (See press release in November 6, 2013.)

Holes LME14-030 and LME14-031 were collared to intersect geology associated with the Loki/A-Zone mineralization reported in Laurion drilling carried out in 2012, but 700m southwest of that drilling. LME14-030 was collared on a folded structure in the Loki/A-Zone trend geology that changes the strike of the stratigraphy from north-west to due north, and it is 220m south of LME11-013 (3.10m @ 3.22 g/t Au, 27.5 g/t Ag, 0.38% Cu, 5.63% Zn), which also occurs on this structure. Assay results are as follows:

14-030
From (m)
To (m)
Length (m)
Au g/t
Ag g/t
Cu %
Zn %
77.00
81.20
4.20
0.32
3.94
0.10
1.76
86.63
92.19
4.37
0.56
3.11
0.09
1.38
105.52
107.00
1.48
0.52
5.59
0.12
1.40
Drill hole LME14-030 had a planned depth of 100m. The hole ended in mineralization at a down hole depth of 107m.

Drill Hole LME14-031 was collared 40m south of LME14-30 on the same north trending structure. Assay results are as follows:

LME14-031
From (m)
To (m)
Length (m)
Au g/t
Ag g/t
Cu %
Zn %
23.00
25.00
2.00
0.49
0.80
0.02
0.28
34.00
36.00
2.00
0.33
1.80
0.04
0.18
47.00
48.80
1.80
27.8
13.1
0.16
1.21
84.00
85.00
1.00
0.03
0.40
0.01
0.98


The remaining two diamond drill holes LBX14-016 and LBX14-017 were collared to intersect geology associated with the Loki/"A"-Zone mineralization reported in the Laurion 2012 drill program. In the October 18, 2012 press release, the Corporation reported an intercept of 3.31 g/t Au, 18.1 g/t Ag, 0.09% Cu and 3.72% Zn over 12.84m, including 5.25 g/t Au, 40.1 g/t Ag, 0.29% Cu, 8.38% Zn and 1.24% Pb over 4.04m in diamond drill hole LBX12-010. Drill hole LBX12-010 targeted the "A"-Zone, passing through 5 high grade mineralized horizons within a lower grade mineralized halo measuring 113m in width.

Assay results from LBX14-016 and LBX14-017 are as follows:
LBX14-016
From (m)
To (m)
Length (m)
Au g/t
Ag g/t
Cu %
Zn %
85.00
86.00
1.00
0.14
9.10
0.12
1.52
93.86
95.00
1.14
0.26
6.40
0.21
0.63
103.65
108
4.35
0.30
1.46
0.05
0.52
Incl.
103.65
104
0.35
0.58
14.2
0.34
4.64
120.00
121
1.00
0.88
0.90
0.05
0.06


LBX14-017
From (m)
To (m)
Length (m)
Au g/t
Ag g/t
Cu %
Zn %
41.00
43.00
2.00
0.16
8.40
0.03
0.70
60.00
61.00
1.00
0.50
8.70
0.11
1.44
122.00
124.00
2.00
0.50
8.00
0.04
1.14
136.00
139.00
3.00
0.17
1.57
0.05
0.56


Cross sections of diamond drill holes LME14-030 and LME14-031 and can be viewed below:



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Summer 2012 Drill Program

During the summer of 2012, Laurion completed a 15 hole drill program which was designed to confirm and expand the VMS mineralized northeastern end of the A-Zone of the 3km long Loki Trend.

Laurion's goal is to develop a drill database for a NI 43-101 mineral resource compliant report on the property. As part of this objective, the Corporation is diligently developing a comprehensive inventory of detailed geological mapping and prospecting on outcropping mineralization, together with a drill database of 268 historical and current drill holes, 166 drill holes totalling 22,203m, are located within the mineralized corridor of 1km wide and 3km long.

The 1km wide corridor is composed of intermediate and felsic volcanics hosting 3 sub-parallel zinc dominant volcanogenic massive sulphide (VMS) horizons, each up to 3km long, which are gold and silver rich with subordinate copper values. Prospecting results from the recent field program returned grab samples up to 53.00 g/t Au, 133 g/t Ag, 1.86% Cu and 27.50% Zn (see July 18, 2012 news release).

Based on its interpretation of the drilling to date, Laurion is beginning to successfully define the volcanic stratigraphy within these zones, and to place the mineralized horizons within specific packages of altered volcanics. This will allow better focus of the next phase of drilling on the property. Drill testing of the property has so far been restricted to the shallow vertical depth of approximately 150m.


The drill programs continue to confirm the location, grade tenor and thicknesses of the A-Zone horizon as indicated by the historical drilling. Based on its recent work Laurion now believes it has two strong north-easterly trends of mineralization on which to carry out follow-up drilling (Tehya/Ahki and Loki/A-Zone) for developing a mineralized resource base.

The first four drill holes totaling 841m were designed to twin and confirm values recorded for historic holes 92-64, 92-65 on the A-Zone, and to test the lateral mineralization intersected in 90-47 and down dip of mineralization intersected in 90-37. These latter two historical holes had intersected horizons sub-parallel and in the hanging wall of the A-Zone.

Highlights of these holes were as follows:

LBX12-001 From (m) To (m) Length (m) Au g/t Ag g/t Cu % Zn %
Total A-Zone 44.0 100.0 56.0 0.46 1.4 0.02 0.52
incl. 76.5 85.0 8.5 1.82 2.5 0.04 1.65
incl. 77.0 79.5 2.5 3.10 2.2 0.02 3.24

Hole LBX12-002 was collared 50m west of LBX12-001 and 12m west along strike of historical hole 92-64 which had intersections of 4.40m @ 4.75 g/t Au, 0.97% Zn and 4.6m @ 0.35 g/t Au and 0.41% Zn.

LBX12-002 From (m) To (m) Length (m) Au g/t Ag g/t Cu % Zn %
Total A-Zone 53.0 97.0 44.0 0.31 1.6 0.02 0.23
incl. 55.0 58.0 3.0 1.88 10.7 0.08 1.20
incl. 86.5 91.0 4.5 1.02 2.8 0.03 1.03
and 156.0 157.0 1.0 0.24 1.5 0.09 1.21

The next two drill holes, LBX12-003 and 004, in the program intersected mineralized horizons that appear to be sub-parallel to the main A-Zone trend, and occur 50-100m north of the A-Zone. The holes were collared between 500m and 900m west of the two holes that tested the A-Zone (LBX12-001 and 002).

Hole LBX12-003 was collared 550m west of LBX12-002 and 30m west along strike of historical hole 90-47 which had intersections of 6.92m @ 0.12 g/t Au, 5.7 g/t Ag, 0.07% Cu and 0.48% Zn and 4.28m @ 1.00 g/t Au, 9.5 g/t Ag, 0.22% Cu and 1.11% Zn. This mineralized trend is 100m north of the A-Zone.

LBX12-003 From (m) To (m) Length (m) Au g/t Ag g/t Cu % Zn %
  160.34 161.00 0.66 0.23 4.1 0.11 1.11
  175.90 176.50 0.60 0.64 1.7 0.06 1.49
  192.45 200.00 7.55 0.27 8.6 0.15 0.74
incl. 192.45 195.00 2.55 0.59 19.2 0.30 1.19

Hole LBX12-004 was collared 350m west of LBX12-003 and 25m north (down dip) of historical hole 90-37 which had an intersection of 4.86m @ 1.31 g/t Au, 8.0 g/t Ag, 0.07% Cu and 2.72% Zn. This mineralized trend is approximately 50m north of the A-Zone.

LBX12-004 From (m) To (m) Length (m) Au g/t Ag g/t Cu % Zn %
  105.0 106.0 1.00 3.67 nsv* nsv* nsv*
  174.8 176.0 1.20 3.96 7.8 0.17 0.80
nsv*: no significant value

A-Zone Hole LBX12-005 targeted a trend north and parallel to the main mineralized trend and was collared 45m to the southeast of hole LBX12-003. This drill hole intersected a wide zone of anomalous gold and narrower zones within the intermediate to felsic volcanics containing discrete higher grade mineralization. Assay results are as follows:

LBX12-005 From (m) To (m) Length (m) Au g/t Ag g/t Cu % Zn %
110.70 119.00 8.30 0.47 1.6
Incl. 113.00 114.00 1.00 1.08
118.00 119.00 1.00 1.58 4.9
131.00 137.00 6.00 0.10 3.1 0.04 0.24
152.00 176.00 24.00 0.17 3.0 0.05 0.40
Incl. 155.00 155.50 0.50 0.19 1.8 1.90
Incl. 166.00 166.50 0.50 1.90 33.1 0.50 3.50
Incl. 172.46 175.00 2.54 0.58 8.4 0.13 1.47
187.55 190.00 2.45 0.32

Hole LBX12-006 targeted the A-Zone main mineralized trend and was collared 95m southeast of hole LBX12-004. It intersected multiple zones of higher grade gold-zinc mineralization. Assay results are as follows:

LBX12-006 From (m) To (m) Length (m) Au g/t Ag g/t Cu % Zn % Pb %
17.00 26.00 9.00 0.25 1.9 0.29
Incl. 19.00 20.00 1.00 1.18 8.7 1.44
67.00 67.50 0.50 2.98 4.3 0.09 0.64
114.00 118.00 4.00 0.30 1.3 0.12
135.00 140.05 5.05 1.23 9.0 0.11 2.82 0.16
Incl. 138.80 140.05 1.25 4.24 30.6 0.40 10.52 0.49

Hole LBX12-007 was collared immediately next to LBX12-001, but drilled at a shallower dip to intersect the A-Zone main mineralization at dip. Hole LBX12-007 also revealed a wide zone of mineralization with multiple narrow zones of higher grade mineralization and a number of lower grade gold zones down in the silicified zone below the main horizon including 1m @ 7.38 g/t Au. Assay results are as follows:

LBX12-007 From (m) To (m) Length (m) Au g/t Ag g/t Cu % Zn %
23.17 46.65 23.48 0.28 1.8 0.17
Incl. 23.17 24.10 0.93 0.50 9.0 1.40
Incl. 32.56 33.26 0.70 0.94 17.6 0.19 1.10
Incl. 37.15 37.90 0.75 1.03
Incl. 45.00 46.65 0.90 0.90 1.5 0.59
58.50 62.75 4.25 0.32
75.00 81.70 6.70 0.10
90.00 95.00 5.00 0.14
103.00 104.00 1.00 7.38

A-Zone Hole LBX12-008 was collared next to LBX12-002. Hole LBX12-008 was drilled at a shallower dip than LBX12-002 to intersect the A-Zone main mineralization up-dip of LBX12-002. LBX12-008 intersected 3.0m @ 1.88 g/t Au and 1.20% Zn and 3.50m @ 1.22 g/t Au and 1.04% Zn. Hole LBX12-008 intersected both mineralized horizons within a wide zone of alteration similar to LBX12-002. Assay results are as follows:

LBX12-008 From (m) To (m) Length (m) Au g/t Ag g/t Cu % Zn %
  40.80 47.00 6.20 0.61 6.1 0.04 0.71
Incl. 40.80 42.35 1.55 1.06 15.4 0.07 1.34
  51.60 55.00 3.40 0.35 1.1   0.52
  63.00 66.00 3.00 1.40 1.4    
  103.00 105.00 2.00 0.28 1.9 0.04 0.51
  127.00 132.00 5.00 0.21      

Hole LBX12-009 was collared 25m west of LBX12-001 and 25m east of LBX12-002, and was targeted to map the continuity of the mineralized A-Zone between holes LBX12-001 and LBX12-002 at a shallow depth. LBX12-009 intersected the broad zone of alteration and mineralization characteristic of the A-Zone, and intersected multiple zones of higher grade gold-zinc mineralization. Assay results are as follows:

LBX12-009 From (m) To (m) Length (m) Au g/t Ag g/t Cu % Zn %
  25.00 108.00 83.00 0.16 1.5 0.01 0.12
Incl. 28.00 30.00 2.00 0.47 12.6 0.09 1.01
Incl. 44.00 46.50 2.50 0.28 1.6 0.02 0.35
Incl. 61.50 62.50 1.00 2.86 8.4 0.20 1.09
Incl. 67.00 72.00 5.00 0.23      
Incl. 79.90 83.50 3.60 0.20      
Incl. 105.00 108.00 3.00 0.30 2.3 0.02 0.35


Hole LBX12-010 was collared immediately next to LBX12-009, but drilled at a steeper dip to intersect the main mineralization of the A-Zone at greater depth, similar to holes LBX12-001 and LBX12-001. Hole LBX12-010 revealed wider zones of the high grade mineralization seen in previous drill holes, giving rise to the potential that the A-zone is increasing in grade and width at depth. Assay results are as follows:

LBX12-010 From (m) To (m) Length (m) Au g/t Ag g/t Cu % Zn % Pb %
  35.00 148.00 113.00 0.50 3.2 0.02 0.63  
Incl. 46.16 59.00 12.84 3.31 18.1 0.09 3.72 0.42
Incl. 46.16 50.20 4.04 5.26 40.1 0.29 8.38 1.24
Incl. 68.75 76.50 7.75 0.86 9.5 0.05 2.10 0.13
Incl. 68.75 71.00 2.25 2.58 30.3 0.14 6.72 0.43
Incl. 146.00 148.00 2.00 0.15 3.5 0.07 1.04  

Hole LBX12-011 was collared 65m along strike east of LBX12-010. The hole appeared to cross only part of wider altered and mineralized horizon seen in the previous drilling, and possibly located in a fault off-set. Assay results are as follows:

LBX12-011 From (m) To (m) Length (m) Au g/t Ag g/t Cu % Zn % Pb %
  19.00 36.00 17.00 0.26 0.3   0.12  
Incl. 22.00 26.55 4.55 0.49 6.0   0.33 0.08
Incl. 22.00 24.00 2.00 0.81 11.2   0.46 0.14
Incl. 32.65 36.00 3.35 0.32        

The true thicknesses of the mineralized zones are currently unknown, but based on core angles observed in core they may range from 50-90%. As results continue to come in from the drill program, construction of cross sections and modeling of mineralized horizons will provide better control on zone orientation.

X-Section of the A-Zone Northeast
X-Section of the A-Zone Northeast
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A-Zone VMS Target
A-Zone VMS Target
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A-Zone VMS Target
A-Zone VMS Target
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Magnetics and A-Zone Northeast Loki Trend
Magnetics and A-Zone Northeast Loki Trend
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Section A-13 of the A-Zone Northeast Loki Trend
Section A-13 of the A-Zone Northeast Loki Trend
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Section A-14 of the A-Zone Northeast Loki Trend
Section A-14 of the A-Zone Northeast Loki Trend
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Section A-15 of the A-Zone Northeast Loki Trend
Section A-15 of the A-Zone Northeast Loki Trend
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