LAURION’s overall objective is to validate the existence of a large (bulk) near surface gold-polymetallic target (the 'Target') over the identified 3 km by 1 km main outcrop area, confirming precious and base metals mineralization. LAURION aim is to move forward in an expedited fashion in order to advance the project to the next development phase.
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. The Northerly trending vein sets are gold-silver-quartz bearing; whereas the NE sets are gold-silver-zinc-copper bearing. The abundance and proximity of these vein sets within a 3 km by 1 km outcrop segment of LAURION’s Ishkoday, highlights the possibility for the Target potential, at the same time 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 283 diamond drill holes totaling 40,729 m, along with detailed sampling, mapping, assays, geochemical analysis, and ground 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.
LAURION’s Ishkoday Project is located in the Thunder Bay Mining Division within the townships of Irwin, Pifher, Walters and Elmhirst. It is composed of a 44.4km2 (4,442ha) land package covering 6 properties consisting of 20 mining leases totalling 11.78km2 (1,178ha) and 18 mining claims totalling 32.64km2 (3,264ha) located in NTS map sheet 42E/12 and 42E/13.
All regulatory documentation relating to the Province of Ontario's Mining Act was filed with the Ministry of Northern Development and Mines by LAURION in Q1/2-2018 for the Ishkoday. LAURION has received all the necessary exploration permits for the 2018 Phase 1 Program – Stages 1 and 2 Campaign permits for the period 2018 to 2021 covering early higher impact exploration activities (refer to Appendix “2”). 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.
There are mine workings, mill tailing ponds, “waste” rock material and surface mine workings linked to the past producing Quebec Sturgeon River Gold Mine. There are other significant natural and man-made features, such as logging and tertiary winter and summer logging on the mineral claims and leases, all-terrain vehicle trails to access recent and historical trenches, channel sampling, “glory hole” metric pits and drill holes; however, LAURION’s Ishkoday Project is not subject to any liabilities due to previous mining or human activities that may impact future development of the Project.