2023 FIELD EXPLORATION PROGRAM
During the 2022 Diamond Drilling and Mapping Programs, significant strides were made in the exploration of the Ishkoday property. These efforts yielded a deeper comprehension of the genetic processes underlying the combined gold-base metals mineralization present within a broad corridor spanning the property. This corridor, exceeding a width of 1 to 2.5 kilometres in some areas and extending over at least 6 kilometres in length, showcased a diverse array of mineral and alteration assemblages within overlapping structures.
Insights gained from the 2022 field season now serve as the foundation for ongoing exploration endeavors. The intricate network of gold and/or base metal mineralized structures forming the Ishkoday complex revealed two distinct mineralizing events, each separated in time and characterized by unique metal associations.
Recommendations stemming from these insights advise a focused exploration strategy targeting zones harboring potential concentrations of mineralized structures capable of yielding the requisite grade and tonnage for potential development.
Looking ahead to the 2023 exploration program, detailed mapping efforts are slated to encompass the vicinity of the historical Sturgeon River Gold Mine. This targeted approach aims to delineate areas where additional mineralized structures may be concentrated, particularly in zones exhibiting a brittle fracture style of orogenic gold mineralization akin to the Sturgeon River style.
In October of 2023, LAURION initiated its Fall Diamond Drill program, allocating 3,675 metres of NQ Drilling. The primary objective of this drill campaign was to target the northeast extension of the Sturgeon River Mine structure.
The Sturgeon River property boasts the former producing Sturgeon River Mine, previously known as the Coniagas Mine, which operated from 1936 to 1942. Historical records indicate production totaling 73,439 ounces of gold and 15,922 ounces of silver during this period. The mine's infrastructure included a shaft sunk to a depth of 2,108 feet, with significant underground development along 14 levels. Economic mineralization primarily occurred within the No. 3, M, 10, and 11 quartz veins. However, wartime restrictions in 1942 led to the mine's closure.
In 2010, six drill holes were completed, totaling 3,511 metres, aimed at defining the down-plunge extent of the Sturgeon River Mine. This effort resulted in the discovery of seven new shear-hosted gold zones. Subsequent drilling by LAURION in 2010 intersected additional veins north of the underground workings.
The Number 3 quartz vein, a historically significant target, comprises anastomosing quartz veins oriented north-northeast and steeply dipping to the southeast. This mineralized system also encompasses other structures such as the Numbers 1 and 2 quartz veins, Coniagas, Numbers 1, 8, 10, and 11 quartz veins (collectively referred to as the "3 Vein Quartz Vein System or 3QVS"), alongside secondary quartz veins and shears of varying sizes and trends. The original system was historically defined over a strike length of 450 metres. LAURION has expanded the strike to over 1,000 metres.
The Fall 2023 Diamond Drilling Program concluded on December 14, 2023, having completed a total of 3,636 metres. Notably, the initial five diamond drill holes (LME23-032 to LME23-036), totaling 2,154 metres, targeted the northeast extension of the Sturgeon River Mine structure.
Highlights of the first (5) diamond drill holes (LME23-032 to LME23-036
| Holes ID |
From (m) |
To (m) |
Core Length (m) |
Au (g/t) |
| LME23-032 | 172.50 | 176.00 | 3.50 | 29.5 |
| including | 172.50 | 173.05 | 0.55 | 186.00 |
| LME23-032 | 233.75 | 234.28 | 0.53 | 7.78 |
| LME23-032 | 240.4 | 240.96 | 0.56 | 1.05 |
| LME23-032 | 243.1 | 244.76 | 1.66 | 3.11 |
| including | 243.1 | 243.72 | 0.62 | 8.11 |
| LME23-033 | 80.5 | 81.0 | 0.5 | 1.64 |
| LME23-033 | 210 | 212.55 | 2.55 | 1.23 |
| including | 210 | 210.6 | 0.6 | 4.35 |
| including | 210.6 | 212.55 | 1.95 | 0.27 |
| LME23-033 | 338.0 | 338.7 | 0.7 | 4.49 |
| LME23-034 | 70.8 | 71.4 | 0.6 | 1.36 |
| LME23-034 | 127.8 | 128.3 | 0.5 | 3.26 |
| LME23-034 | 175.75 | 177.75 | 2.0 | 12.89 |
| LME23-034 | 176.35 | 177.75 | 1.4 | 17.63 |
| LME23-034 | 176.35 | 177 | 0.65 | 18.25 |
| LME23-034 | 227.2 | 228.2 | 1.0 | 0.54 |
| LME23-034 | 245.5 | 247 | 1.5 | 5.10 |
| LME23-034 | 245.5 | 246.4 | 0.9 | 7.87 |
| LME23-034 | 458.3 | 459.1 | 0.8 | 2.71 |
| LME23-035 | 25.5 | 26.0 | 0.5 | 3.58 |
| LME23-035 | 289.9 | 290.4 | 0.5 | 1.05 |
| LME23-035 | 314.25 | 315.05 | 0.8 | 1.38 |
| LME23-035 | 343.4 | 344 | 0.6 | 1.38 |
| LME23-036 | 123.75 | 124.25 | 0.5 | 1.79 |
| LME23-036 | 171.1 | 172.0 | 0.9 | 1.44 |
| LME23-036 | 214.35 | 214.9 | 0.55 | 1.68 |
| LME23-036 | 219.05 | 220.25 | 1.2 | 7.38 |
| including | 219.75 | 220.25 | 0.5 | 17.5 |
| LME23-036 | 400.8 | 401.35 | 0.55 | 4.19 |
Coordinates for Drill Holes LME23-032 to LME23-036 are as follows
| Drill Hole Number | Azimuth | Dip | Planned (m) | Actual (m) |
| LME23-032 | 150 | -45 | 500 | 513 |
| LME23-033 | 115 | -45 | 350 | 342 |
| LME23-034 | 115 | -60 | 500 | 465 |
| LME23-035 | 90 | -45 | 350 | 354 |
| LME23-036 | 90 | -60 | 475 | 480 |
| TOTAL | 2,175 | 2,154 | ||
The second four (4) diamond drill holes (LME23-037 to LME23-040) totalling 3,645 metres targeted the extension of the mine’s structure to the southeast.
Highlights of the second four (4) diamond drill holes LME23-037 to LME23-040
| Holes ID | From (m) | To (m) | Core Length (m) | Au (g/t) |
| LME23-037 | 79.70 | 80.60 | 0.90 | 1.435 |
| LME23-037 | 209.60 | 211.20 | 1.60 | 1.243 |
| LME23-037 | 220.90 | 222.50 | 1.60 | 6.347 |
| including | 221.90 | 222.50 | 0.60 | 16.700 |
| LME23-038 | 46.00 | 46.90 | 0.90 | 1.585 |
| LME23-038 | 246.93 | 247.75 | 0.82 | 3.530 |
| LME23-038 | 319.65 | 321.65 | 2.00 | 1.652 |
| including | 319.65 | 320.40 | 0.75 | 2.420 |
| including | 320.90 | 321.65 | 0.75 | 1.965 |
| LME23-038 | 340.40 | 340.90 | 0.50 | 2.950 |
| LME23-040 | 383.90 | 391.85 | 7.95 | 3.610 |
| including | 384.45 | 384.95 | 0.50 | 36.600 |
| including | 385.45 | 391.85 | 6.40 | 1.585 |
| including | 389.30 | 391.85 | 2.55 | 3.054 |
| LME23-040 | 502.25 | 502.85 | 0.60 | 1.060 |
| LME23-040 | 513.00 | 513.93 | 0.93 | 4.430 |
Coordinates for Drill Holes LME23-037 to LME23-040
| Drill Hole Number | Azimuth | Dip | Planned (m) | Actual (m) |
| LME23 - 037 | 115 | -45 | `275 | 276 |
| LME23 - 038360 | 115 | -60 | 375 | 360 |
| LME23 - 039 | 115 | -45 | 325 | 330 |
| LME23 - 040 | 115 | -60 | 525 | 525 |
| TOTAL | 3,675 | 3,645 |
The Sturgeon River Mine mineralization system comprises the Number 1, 2 and 3 (main) quartz veins, as well as other quartz veins and shear structures encountered in the historic mining of the Sturgeon River Mine.
The 2023 drill program targeted the extension of the system to the northeast and southeast with the intention of doubling the strike length of the mineralized structures. The results received to date demonstrate that the system extends on significant strike length and is still open at depth and along strike.
Confirming the extensions of this known structure will assist with updating the 2-D and 3-D geological mineralization model, which should provide a solid technical base to initiate further diamond drilling programs in this area. Upon receiving the most recent results, LAURION’s geology team will update the current exploration 3D model and begin planning for the next phases of exploration infill drilling.