LAURION Mineral Exploration Inc. (TSXV:LME OTCPINK: LMEFF) is a small-cap, mid-stage junior exploration and development company focused primarily on its wholly owned 47km2 (11,607ac.) flagship ‘brown field’ Ishkoday Gold Polymetallic Project located within the townships of Irwin, Pifher, Walters and Elmhirst. 220km North-East of Thunder Bay, Ontario Canada.
LAURION’s Ishkoday Gold Polymetallic Project is expanding on the legacy of its high-grade past-producing Quebec Sturgeon River Gold Mine by proving the existence of near surface bulk mineralization in gold-silver and gold-zinc rich polymetallic component which extend over a 3 km x 1 km area (a collective total strike length of 6,000m).
The known mineralization on LAURION’s Ishkoday property exhibits repetitive stacked and multi-directional gold and zinc-rich sulphides in lenses, veins and vein stockworks, visible in the mineralized outcrop exposure. We believe that a NNE structure are gold-silver-zinc-copper bearing and was overprint with the regional deformation causing NE trending vein/sheared zone sets with gold-silver-quartz bearing and enrichment of base and precious metal at the intersections. The abundance and proximity of these vein sets within the main 3 km by 1 km outcrop segment of LAURION’s Ishkoday, offering a polymetallic environment, as well as individual higher gold grade veins that could potentially be developed separately.
To date, LAURION’s Ishkoday project has a property-wide database of 348 diamond drill holes totaling 55,488 m, along with detailed sampling, mapping, assays, geochemical analysis, and ground and airborne geophysics results.
The Quebec Sturgeon River Gold Mine produced 73,322 ounces of gold, and 15,929 ounces of silver from 1936 to1942 on the No. 3 Vein at 24 g/t gold, and generated a large gold and silver bearing stockpile of 144,070 tonnes grading 1.59 g/t gold in the Indicated Mineral Resources category (based on a NI 43 - 101 Technical Report filed on SEDAR in June 2013 – See Press Release dated April 23, 2013. The mineralization is open at depth beyond the current core drilling limit of -200 m from surface, based on the historical mining to a -685 m depth, as evidenced in the past producing Quebec Sturgeon River Gold Mine.
The Brenbar Mine is contiguous with, and is situated to the west of Ishkoday. Mining at the Brenbar Project took place sporadically between 1941 and 1949 with 135 tonnes taken averaging approximately 20 g/t gold. Underground development was confined to a 64 m deep shaft, and drifts at the 31 m and 61 m levels. Numerous quartz veins up to 1 m wide were exposed. These quartz veins contain pyrite, galena, sphalerite, chalcopyrite and native gold.
LAURION has received all the necessary exploration permits. LAURION remains committed to creating strong relationships with ongoing discussions with the First Nations Aboriginal communities in the area, and is committed to work in a collaborative way and engage all the communities with respect to LAURION’s future exploration plans.