Laurion reports on second field exploration update for 2018 on the Ishkoday gold project
Wednesday, Jul 11, 2018
Laurion Mineral Exploration Inc. is pleased to issue the second update from the 2018 summer field exploration program at the Corporation’s 47 km2 Ishkoday Project (“Ishkoday”). Laurion’s personnel and Explo-Logik’s technical crews (collectively, the “Team”) have completed their initial field validation of historical and recent data.

The Team completed geological mapping and the prospecting of historic mineralized “veins” and their extensions, as well as new areas in the lesser explored northern claims. This work is part of the three-phased exploration program proposed for the next 36 months, aimed at defining a near surface polymetallic gold mineral resources. Initial reconnaissance highlights of the campaign were issued earlier (refer to the Corporation’s news release dated May 29 and June 19, 2018, respectively).

Current Highlights from the Quartz Veins

A number of new mineralized quartz vein occurrences have been outlined in the northern claims. They were manually stripped and sampled. Outcrop stripping, mapping and sampling was also done in the southern claims on a portion of the “85-A2” quartz vein system (the “85-A2”) located 750m Northeast of the past producing Nos. 3, 10 and “M” gold-quartz veins of the Sturgeon River Mine.

More historic assay results were compiled and are reported here from outcrop stripping, channel sampling and assaying of quartz veins done by Phoenix Gold Mines Ltd., in the 1980’s (“1986 Exploration Program Report, Sturgeon River Gold Mines Property, 34 pages with compilation maps, by L.O. Koskitalo, February 1988”).

As in the previously outlined historic quartz vein results from the Marge, “F”, Combined 8/11, 85-A2 and A-2 veins, there are a number of other significant gold results, including:

  • 35.5m length over a 7.2cm width grading 31.57 g/t gold carrying visible gold (A9 Quartz Vein);
  • 21.0m length over a 9.0cm width grading 105.99 g/t gold, also carrying visible gold (A11 Quartz Vein);
  • 53.2m length over a 22.5cm width grading 14.71 g/t gold (85-A2 Quartz Vein);
  • 55.8m length over 13.8cm width grading 21.90 g/t gold (85-A2B Quartz Vein);
  • 56.5m length over 37.2cm width grading 12.86 g/t gold (85-A6 Quartz Vein); and
  • 43.2m length over 73.5cm width grading 8.33 g/t gold (A6 Quartz Vein).
At the 85-A2 gold-quartz vein and its subsidiaries, 85-A2B, 85-A5, 85-A6, 85-A11A, 85-A12 and 85-A17 (collectively, the “85-A2”), located in the 3km2 Ishkoday Target Area, the veins combine into continuous pinch and swell patterns of interconnected and anastomosing shear and tension veins, similar to other gold deposits in Archean Greenstone Belts.

For example, the lode gold settings of the Sigma-Lamaque, Dome and Canadian-Malartic gold deposits of the Abitibi Greenstone Belt (“lode gold setting”) are linked to continuous and anastomosing structures with both shear and tension gold-quartz veins; they have 2 to 6km2 surface signatures; and either contain a disseminated gold or gold-quartz stockworks component or both.

It is unknown at this time if these lode gold settings are similar to the setting at the Ishkoday Target Area. If what is observed at the 85-A2 is eventually confirmed at other quartz veins and as the small-scale equivalent of a larger pattern, then Laurion would have a major network of un-developed gold-quartz veins.

Further field validation is required to test these anastomosing mineralized NE-SW system and determine if most or a selective portion, and their orientation, of the hundreds of quartz veins identified by previous workers, and now by Laurion, carry gold, and if the gold mineralization is restricted to certain areas, whether high level intrusives, such as the porphyry of the Sturgeon River Mine, and/or polymetallic veins and/or structurally more deformed corridors, such as in quartz-sericite schists as identified in several outcrops of the Target Area.

Current Highlights from the Polymetallic Veins

Laurion also continued its field validation of the polymetallic veins of the CRK, Joe and Tehya showings. The polymetallic veins appear to be localized in specific corridors and are commonly associated with felsic and mafic dykes, sericite-chlorite altered shears, magnetite bands and brecciation, with or without quartz veining, but with gold.

Next Exploration Campaign

The planned work to be initiated later in Q3-2018 will include additional manual outcrop stripping, channel sampling and assaying along 7 strategic NW-SE 400m to 500m outcrop stripping lines (the “Lines”), up from the original 4 lines, as a first pass assessment of the NE-SW trending quartz and gold-polymetallic (copper-zinc) veins in the Target Area.

Distribution patterns, from the more local polymetallic veins and more regional centimetric-to metric-wide kilometric-long lode gold-quartz veins, follow axes from a NE-SW Strain Ellipse in a Simple Shear Deformation Model. The quartz veins appear to have been emplaced during regional deformation of the greenstone belt encompassing Ishkoday.

Concurrently with the outcrop stripping program, Laurion will re-log the existing drill core from its 2010 to 2014 drilling campaigns to increase understanding of the geology and mineralization, all to determine the extent and origin of, and size potential of the gold-silver-zinc-copper system.

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