2020 AND 2021 FIELD EXPLORATION PROGRAMS

2020 DIAMOND DRILLING PROGRAM

In the first 6 months of 2020, LAURION initiated the Phase 1 of drilling on the Ishkoday Project, completing a total of 7,937m of drilling.

A total of 4,975m of NQ size drill holes (21 drill holes) was completed on 2 gold and polymetallic zones, in the north east Ishkoday Project. The A-Zone is primarily a polymetallic mineralized breccia, containing sphalerite, pyrite and chalcopyrite, overprinted by a gold-bearing orogenic shear.

Drilling of 2,962m of NQ sized holes (10 drill holes) was then followed by drilling on the CRK, Joe, Azurite/Ahki and McLeod Zones.

The 2020 drilling provided a new geological understanding, confirming the presence of volcanogenic mineralization (A-Zone type) over the whole strike length between the McLeod Zone and A-Zone. The strike length across the mineralized zones is approximately 1.4 km, with a confirmed depth up to 150 m from the surface.

The first 4 holes on the A-Zone returned surprising results. Most of the mineralization presented itself as a brecciated diorite, composed of a matrix of sphalerite, pyrite and chalcopyrite.  The two distinct styles of mineralization were confirmed: an early, likely syn-volcanic, zinc-dominant hydrothermal system, termed the Ishkoday-style mineralization; and a later, gold-dominant event that is linked primarily to later tectonic gold-silver bearing quartz veins, termed the Sturgeon River-style mineralization. The balance of the A-Zone drilling was designed to test the 3D model in the central part of the A-Zone.

The Phase 2 drill campaign was initiated over the trenched CRK Zone with ten oriented drill holes for a total of 2,962 m. Trenching in 2019 exposed a northeast-trending, 370 m-long corridor of both polymetallic (gold-silver-copper-zinc) mineralization and gold-bearing quartz veins, as well as north-trending polymetallic mineralization on the CRK.  At the CRK zone, drilling was planned to intersect the main NE-trending polymetallic mineralization, but also test N-striking structures including the Joe shear zone and Ahki vein. Significant widths and grade of surficial gold and zinc mineralization were returned at the CRK Zone extending the main sheared mineralized trend 135 m to the southwest, but we have been able to trace it 310 m between holes at depth.

Phase two 2020 drilling ended on a high note, with a high-grade discovery interval within the total intercept which assayed 48.69 g/t Au, 35.98 g/t Ag, 1.14 % Cu over 5.40 m, including 441 g/t Au, 191 g/t Ag over 0.57 m discovered in drill hole LME20-031 in the New Niish Zone. Drill hole LME20-031 was designed to test a large VTEM anomaly combined with magnetic high and to test at depth historic hole 88-33. The mineralized zone is interpreted to widen significantly at depth.

The second last drill hole, LME20-030 was drilled to test and follow up on an historical drill hole (88-33) which intersected 18.7 m grading 0.30 g/t Au, 4.31 g/t Ag, 0.15 % Cu and 1.18 % Zn.

LAURION’s overall exploration strategy was to establish the growth potential of high-grade zones such as the Niish Zone, which remains open along strike and at depth, and in the 2021 drill program, continue to build volume on the 2020 drill program.

2021 Drill Program

The 2021 Drill Program with a goal of 10,000m was focussed on building volume and strike continuity between the A-zone and MacLeod mineralized areas. The drilling campaign aimed at developing numerous advanced drill targets generated from recent data integration and re-interpretation of the structural and geological settings, commencing on high priority targeted drilling along with a field validation program on gold and polymetallic targets.

In this program, LAURION intersected significant Mineralization in Drilling Connecting the McLeod and A-Zones, Including 0.71 g/t Au, 13.29 g/t Ag, 0.17% Cu and 2.22% Zn over 13.5 Metres (Drill Hole LBX21-046) and 0.77 g/t Au, 4.31 g/t Ag, 0.83% Zn over 20m on hole LBX21-045 between 145 and 165m Drill Hole LBX21-045).

Assays as of mid-November are still awaited from this drill program. New releases will be posted once received and the website updated accordingly.

Geological Overview

The Ishkoday Project is hosted entirely in Archean volcanic, subvolcanic, volcaniclastic and intrusive rocks of the Onaman-Tashota greenstone belt, part of the eastern extent of the Wabigoon Subprovince of NW Ontario. The SE margin of the property, including the main mineralized trend, is hosted in subvolcanic diorites, rhyolitic flows, felsic volcaniclastic fragmental rocks, and in an interpreted Tonalite-Trondhjemite-Granodiorite (TTG) termed the “Sturgeon Stock”.

The subvolcanic diorite, termed the “Ishkoday Stock”, is interpreted to intrude the felsic rhyolitic flows and felsic volcaniclastic rocks during progressive volcanism. The Sturgeon Stock and Coyle Lake Batholith (TTG plutons) are interpreted to postdate the volcanic/subvolcanic rocks.

Polymetallic (Zn-Cu-Fe +/-Ag, Au) veins, termed “Ishkoday-style”, occur within and adjacent to the main Ishkoday Stock subvolcanic diorite; and this mineralization is cut by the TTG intrusive rocks. These veins are interpreted to represent subvolcanic, intrusion-related mineralization, potentially analogous to basal parts of modern epithermal or VMS style mineralization. The mineralization is interpreted to occur in an extensional rift, as indicated by the presence of significant (up to 50% by volume) intermediate dikes and sills that are geochemically and texturally related to the Ishkoday Stock (Keaton Strongman, personal communication).

Gold and silver-bearing orogenic quartz veins, termed “Sturgeon River style”, postdate and overprint the early mineralization. These veins, and associated shear zones, commonly overprint and reactivate early mineralized planes, making discrimination of the mineralization type, and relative age, difficult. (David Lewis 2020).

Structural Overview

Three deformational events are recognized at the Ishkoday Project. D2 can be directly related to orogenic gold mineralization (Sturgeon River style. The Paint Lake Fault and local TTG plutons are interpreted to be the major controls on gold-bearing quartz veins on the Ishkoday property.

The Paint Lake Fault most likely initiated as a D1, block-bounding, reverse fault during accretionary tectonics at the contact between the southern Quetico and northern Wabigoon subprovinces. During D2 transpression, the structure was reactivated as a first-order dextral strike slip fault. Bends in the structure are likely due to semi-rigid body deformation (rheology) of the Coyle, Sturgeon and Elmhirst plutons, which resulted in second-order NE-striking sinistral conjugate Riedel faults that most likely reactivated D0/D1 fault or vein planes.

Local variable (magnitude and orientation) stress fields around the Sturgeon Stock resulted in third-order folding and N-striking Riedel extensional faults.  Late D3 deformation most likely resulted in N- to NW-striking brittle faults) (David Lewis 2020).

 

 

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