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Highlights

Presentation Fact Sheet

HIGHLIGHTS AND SUMMARY OF THE 6 KM BY 2.5 KM MINERALIZED ISHKODAY CORRIDOR 

LAURION’s Ishkoday project is located 24km NE of the town of Beardmore Ontario, in the Thunder Bay Mining Division within Irwin, Pifher, Walters and Elmhirst Townships.

The Ishkoday consists of a structurally-hosted precious and base metal mineralization system encompassing centimetric to metric wide shear and tension “veins” extending tens, hundreds and several thousand meters in length. This major kilometric long and wide NE-SW structural corridor encompasses most of the known precious and base metal mineralization. 

Exploration work to date has confirmed the presence and abundance of surface exposed mineralized shears and multi-directional gold-bearing quartz veins/stockworks with local sulphide development (sphalerite, pyrite, chalcopyrite and galena). The structurally hosted gold mineralization is primarily associated with more than 160 cm to metre wide quartz veins trending NE, extend 100’s to 1,000’s metres in length.

Sulphides of the 'Ishkoday Style' mineralization consists of disseminated, stringer and massive sulphides containing  Au-Zn-Cu-Ag. The later lode gold-silver quartz veins are associated with fracturing/shearing with the quartz vein transitioning into fractures or shears and vice-versa. Both styles of mineralization occur as multiple individual sinuous and anastomosing centimeter to meter wide vein sets, and forming corridors several hundred metres in width.
The principal base (and precious) metal vein sets are:

The main gold bearing vein sets are:

The Pluton hosts the No. 3 Quartz Vein at the Sturgeon River Mine (South Pluton), the Marge Quartz Vein (Central Pluton); and the M25 Quartz Vein (West Pluton). The Pluton also hosts centimeter-wide sulphide veins/veinlets as shears/fractures, with or without quartz veins. Multiple veins of the A-2 Quartz Vein (A-2, A-4 to A-6 and V-2 to V-9) overlap the multiple sulphide veins of the CRK and “A” Zones.

For now the No. 3 Quartz Vein South host the highest gold grades at Ishkoday: in-vein composite interval assays of 47.61 g/t gold over 7.95m (sample line 5-L26P), 92.58 g/t gold over 12.98m (sample line 5-L27P), 79.64 g/t gold over 4.18m (sample line 5-L28P) and 14.85 g/t gold over 9.45m (sample line 5-L29P).

Refer to Ishkoday Geology Map

Sturgeon River Mine Area

The Sturgeon River Gold mine is located to the south of the Sturgeon River Pluton in intermediate to felsic metavolcanics around the intrusions.The focus of mining between 1935-42 was the No 3 Vein. What appears to be a single 3 Vein (L. Koskitalo, Phoenix Gold Mines, 1988) is in fact a package of multiple, interconnected and anastomosing quartz veins oriented in two main directions: N-NE-S-SW. Vein distribution and density appear to the linked to structural corridors in the host diorite. The 3 Vein is also accompanied by centimeter and millimeter wide sub-vertical and flats veins, veinlets and stringers forming stockworks, tens to hundreds of meters in lengths and widths. Geology maps from the drifts and crosscuts of the Mine (past production from 1935 to 1942) indicate a similar pattern of veining to more than 700 m below surface, also validated by the presence of significant quartz veinlets in diorite “waste rock” from the Mine’s stockpile. Selective grab samples taken from the Mine’s Stockpile either show individual, sub-millimeters or aggregates of millimeter-sized gold grains.

Highlights for 3 Vein North included a number of significant composite interval results:

In-vein sampling was completed parallel to the vein contact to determine a more accurate gold grade of the 3 Vein South. Composite interval results of these included:

Highlights for the 3 Vein South include a number of significant composite interval results:

Stripping at TR19-1 uncovered the historic Nos.1 and 2 Quartz Veins, located some 50m and 100m, respectively, west of the 3 Vein. The No. 2 Quartz Vein trends at 010⁰; whereas the No. 1 Quartz Vein trends 040⁰. All three veins are termed “shear” veins with meter-wide highly schistose wall rocks containing quartz veinlets and stringers and disseminated pyrite.

The Nos. 1, 2 and 3 Quartz Veins of the historic Sturgeon Mine showing their N-E trends and positions at the Ishkoday Project.
The Nos. 1, 2 and 3 Quartz Veins of the historic Sturgeon Mine showing their N-E trends and positions at the Ishkoday Project.

LAURION’s stripping at TR19-1 has established the 3 Vein as a package of multiple, anastomosing, centimeter-wide quartz veins oriented in two main directions of 010° and 040°, as well as sub-horizontal millimeter-wide quartz veinlets, all forming stockworks in a minimum 20 m wide corridor within a disseminated and stringer sulphide-bearing porphyry host at the south central end of the Pluton. The 3 Vein measures 150m in length but remains open at both ends before disappearing under the overburden.

Of significance is the strike of 200m in length of the ore grade shoot within the No. 3 vein at surface, which increases at depth. At 530m depth, the ore shoot reaches a strike length of 465m. From a depth of around 14.40m the first quartz vein (No.1 Vein) of several quartz veins intersect the No.3 vein. It is clearly indicative from the historical work and data that the shaft and workings were in the very early stages of what appears to be a gold environment with great potential to be developed hosting several high grade quartz vein hosted in a shear zone that hosts both gold and metals. This validates the suggestion of the potential for this well-mineralized structure to widen along strike and at depth.

Assay results from the 2019 sampling on limited surface exposure of the Nos. 1-2 and #8/11 Quartz Veins from Lease 107075 yielded for the No.1 Quartz Vein located 50m to 60m W of the 3 Vein:

For the No. 2 Quartz Vein located 150m W of the 3 Vein:

The M21/22, M23, M24, M25 and M26 Quartz Vein System

To the north east of the mine is the M24 Quartz Vein The M24 is part of a swarm of major NE-SW trending gold-bearing quartz veins at the SW end of the Pluton, that includes the M21, M22, M23 M24 and M26 Quartz Veins (the “M24 Quartz Vein System or M24QVS”) along with additional secondary (for now) quartz veins and shears of different sizes and trends (Figure 39). The M24QVS extends some 425m in length by 245m wide and remains open. All the gold-bearing quartz veins of the M24QVS are likely interconnected as observed at the No. 3 Quartz Vein (“3 Vein”) of TR19-1 that hosted the Sturgeon River Mine. The M24 Vein was fully exposed at surface by recent stripping and washing, and channel sampled. The M24 measures more than 100m in length and is more than 3m wide, tapering off at the extremities to under 30cm, but remains open at both ends before disappearing under the overburden.

Significant composite interval results are as follows:

Additional outcrop stripping was started at the remaining segment of M25 Quartz Vein in TR19-4 (8.40 g/t gold over a 245 m length and average 0.23 m width) from Leases 19750 and 19751, sub-parallel and located 40 m south of M24.

Selected grab samples yielding up to 58 g/t gold and 140 g/t silver were collected from the M25 Quartz Vein.

Marge Quartz Vein System

The Marge Vein meanders across the Porphyry between 005° to 055°, and anastomoses with a series of smaller centimeter veins and fractures or shears. The sector also hosts numerous N-S trending centimeter wide extension veins. A major 100 m wide 045° shear zone exhibiting steep foliations, some sulphide development and fine millimeter-wide quartz veins was observed at the NW extremity of the Marge.

As observed at the M24, 3 Vein and A-2 Vein, the veins of the Marge are “shear” veins, with metric wide highly schistose wall rocks containing millimeter to centimeter wide quartz veinlets, iron carbonate, sulphides (iron and copper sulphides for now) and chlorite streaks similar to what is observed at CRK located to the east.

In 1984, Phoenix cleaned and channel sampled this vein over a strike length of 505ft (154m), and reported an average grade of 0.73 oz/ton (25.03 g/t) gold over an average width of 1.2ft (0.36m). 

The Marge Vein was then stripped and channel sampled by Laurion over a 47m length and 34 channel samples were collected across the width of the vein, approximately 1.5m apart, for the entire exposed area. These samples averaged 16.97 g/t gold over an average width of 0.47m, confirming the historical grade for this vein. 

Selected grab samples from the Marge Vein were collected yeilding 71 g/t gold and 15.60 g/t silver from the Marge Quartz Vein; and 32 g/t gold at the River East Zone.

85A2 Vein System

The 85A2 Vein system is located 1,135m to the NE of the Sturgeon River Shaft. 

The 18 northeast trending quartz veins belonging to the “85-A2” and the “A” Quartz Vein systems  were historically channel sampled and assayed by Phoenix Gold. Channel sampling at the 85-A2 Quartz Vein (97 channel samples) at TR18-1 on the eastern 30m long segment of the known 285m length of the main “85-A2” Quartz Vein, yielding:

Selected historic gold assay intervals of the “85-A2” Quartz Vein system (Phoenix Gold Mines Ltd., 1988) from stripped line T18-1 included:

The quartz veins undulate and form anastomosing patterns.

Selected historic gold assay intervals of the “A” Quartz Vein system (Phoenix Gold Mines Ltd., 1988) included:

In 2018, LAURION’s Stage 1 campaign selectively grab sampled the 85-A2 Quartz Vein system yielding 40.80, 43.00 and 1,185 g/t gold, and is located a few meters SW of the main “85-A2” Quartz Vein outcrop. Channel sampling confirmed the gold-bearing potential of the 85-A2 Quartz Vein with a selected assay result of 18.50 g/t gold over a 20cm width. A LAURION (2012) selective grab sample yielded 2.86 g/t gold on an adjacent subsidiary quartz vein.

CRK Zone

In 2019, signicficant stripping and channel sampling was completed on the CRK Zone located approximately 1.5 km to the NE of the Sturgeon River Mine within the mineraloizaed target corridor. Outcrop stripping uncovered the full extent of combined gold-silver bearing sulphide (iron, zinc and copper sulphides) and oxide (iron oxide or magnetite), actinolite (calcium, magnesium, and iron silicate) and chlorite (magnesium and iron alumino-silicate) veining in a heavily bleached, brecciated, silicified host forming a series of 030° to 045° trending meter-wide corridors (the “Loki Trend”). The A-2 Quartz Vein was observed over at CRK as it pinches and swells, forms beads or boudins, locally split in two, as it meanders its way over a 400 m stripped length.

The Oxide-Sulphide Vein widths are centimetre to metre wide and are continuous over 100’s meters. These are typical shear veins, which are brecciated and schistose, and generally carry lower metal grades than the classic Sulphide Veins, likely picking up metal from the late remobilization of nearby Sulphide and Quartz Veins. The geophysical magnetic highs observed over the CRK Zone coincide with the location of the Oxide-Sulphide Veins due to the nearly massive centimeter-wide stringers of black magnetite.

Summary of CRK Trenches and the Locations

The  CRK Zone Location Map Showing the Numbered Stripped Areas or Trenches

Trenches 34 and 37

Multiple new gold, silver, copper and lead assays were reported taken from the CRK Zone from the multiple sulphide veins and the A-2 Quartz Vein of the 30m by 20m CRK West stripped outcrop (Trench #37), the Azurite segment (Trench 34)

The Azurite segment covers a 300m2 area (30m by 10m) containing a 0.5 to 1.5m wide, 25m long massive sulphides unit consisting of sphalerite, chalcopyrite and galena hosted in a siliceous, highly fractured felsic volcanic or intrusive located at the northern extremity of the CRK, some 260m north of the main CRK Zone. The massive sulphides were fully sampled over the exposed 13m length in 3 channel samples intervals yielding:

Trench 39

Channel sampling at the newly discovered “SJ” Sulphide Veins of the south-central segment of the CRK Zone. Channel samples assay results from the new 40m by 20m stripped South Central Segment (Trench #39) greater than 1 g/t gold and/or greater than 1% zinc in Trench #39, and include:

SJ Segment - Trench 37

The “SJ” Sulphide Veins are located 150m west of the SW Segment (Trench #37). Highlights of channel sample assays from the SJ Zone are as follows:

Trench 36

Channel sampling from another newly discovered sulphide zone, (consisting of sphalerite, chalcopyrite and pyrite), magnetite-chlorite-actinolite-sulphide (“Oxide-Sulphide”) and quartz veins in the central CRK Zone main segment labelled as (“Trench #36”). The Oxide-Sulphide Veins  in Trench #36 are late 030°-045° trending shears, post-dating the earlier 320°-020° trending Sulphide and 000°-045° trending Quartz Veins found elsewhere on Ishkoday, and especially in Trench #36 ( just north west of the Main CRK Trench). Highlights of channel sample assays from Trench #36 are as follows:

Trenches 56 - 65

Channel sampling at the newly discovered magnetite-chlorite-actinolite-sulphide (“Oxide-Sulphide”) and distinct quartz veins in the NE segment (“#56-65 Trenches”) of the CRK Zone. Individual and composite interval channel samples assay results greater than 1 g/t gold and/or greater than 1% zinc from the new 50m by 15m Trench #56, and is contiguous to the SE 70m by 10m Trench #65.

Highlights for the newly discovered magnetite-chlorite-actinolitesulphide (“Oxide-Sulphide”) and distinct quartz veins in the NE segment (“#56-65 Trenches”) of the CRK Zone:

Trenches 32 - 62

Channel sampling at the fifth newly discovered sulphide zone (consisting of sphalerite, chalcopyrite and pyrite) and magnetite-chlorite-actinolite-sulphide (“Oxide-Sulphide”) veins in the CRK Zone West segment labelled as thee “#32-62 Trenches”. The Oxide-Sulphide Veins are late 030°-045° trending shears, post-dating the earlier 320°-020° trending Sulphide Veins found elsewhere on Ishkoday, and especially here in #32-62 Trenches.

The most significant individual channel assay results occur in the same 40m by 2m wide, N-S trending combined Sulphide and Oxide-Sulphide Vein from Trench #32  include:

 In the adjacent Trench #62, assay results include:

The current length of the gold and base metal mineralization from the contiguous mineralization of the #56-65 Trenches and Trench #36 and recent prospecting suggest the Sulphide and Oxide Sulphide Veins now extends some 550m in total in a NE-SW trend.

 

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