Highlights and Overview of the Ishkoday Gold and Base Metal Project
LAURION’s emphasis is on advancing its flagship project, the 100% owned, 47 km2 Ishkoday Project, host to numerous occurrences of gold and base metal mineralization. The Ishkoday Project is located 220 km northeast of Thunder Bay and 28 km northeast of the town of Beardmore. It straddles the townships of Elmhirst, Walters, Pifher and Irwin. The Ishkoday has favourable year-round access and proximity to all services including electricity and water, all of which translates to lower exploration costs.
The Ishkoday Project is host to the historical Sturgeon River mine, which operated between 1936 and 1942, producing 73,322 ounces of gold and 15,929 ounces of silver from the milling of approximately 145,123 tonnes of ore grading 17 g/t gold. Gold was found in quartz veins, in pyrite and between pyrite and gangue minerals, but also in fractures and pyrite-chlorite-sericite altered wall rocks. The Sturgeon River mine is open beyond the current diamond drill limit of minus 200 metres (from surface); historical mining took place to a depth of minus 685 metres (source: Mackasey, 1975).
The adjacent Brenbar Property, acquired by the Company in 2020, is contiguous with the Ishkoday (to the west) and hosts the historical Brenbar mine; historical production at this location is unknown. Available information suggests that gold mineralization documented at the Brenbar is on strike of and possibly contiguous with that documented historical the Sturgeon River mine.
LAURION retains a property-wide database comprising 419 diamond drill holes totalling 78,663 metres along with several geophysics databases (magnetics, electromagnetics, IP, Lidar). The Company has also completed extensive and detailed geological mapping, trenching and channel sampling, with multi-element analyses over numerous mineralized occurrences and zones within the over 6 km long by 1 km wide “corridor” within which gold and polymetallic base metal-silver+/-gold mineralization is found.
Excellent work completed by LAURION geologists has conclusively demonstrated that Ishkoday is the product of two separate and distinct mineralizing events separated in time by 40 million years, both exploiting the same structural domain: the first epithermal and polymetallic, and the second mesothermal (orogenic) and gold-rich. This knowledge has led to a radical re-evaluation of the Ishkoday property and its exploration potential, what and where. Of critical importance are the key prerequisite features indicating where there is potential for a sufficient concentration/density of sufficiently well-mineralized veins and related zones (gold first, base metals second) over a sufficiently large volume of rock. These facts comprise the focus of ongoing exploration efforts across the property.
LAURION's interest in the Ishkoday Project comprises several parcels, or blocks, summarized in the table, below. All are situated within the southern portion of the in the Onaman-Tashota Greenstone Belt, within the Irwin, Walters, Elmhirst and Pifher Townships:
|Block||Claims/Leases (100% owned)||Size (Hectares)|
|Iskkoday||15 mining leases||657|
|Iskoday North||164 boundary and single cell claims||2,864|
|Ishkoday South||5 boundary cell claims||64|
|Ishkoday East||28 boundary and single cell claims||336|
|Jubilee-Elmhirst||4 mining leases||74|
|Beaurox||1 mining lease||447|
|Brenbar||2 mining leases||255|