Laurion Mineral Exploration confirms 1,600-metre strike length at Ishkoday, Ontario
Laurion Mineral Exploration Inc.’s [TSXV-LME; OTC PINK-LMEFF] 2023 drilling campaign was successful in confirming the strike length of the Sturgeon River mineralized system over 1,600 metres at its Ishkoday project, located 220 km northeast of Thunder Bay, northern Ontario. The nine drill holes from 2023 intercepted the seven veins comprising the Sturgeon River mineralized system.
The Sturgeon River mineralized system is composed of seven distinct quartz veins and mineralized shear zones. The drilling intercepts vary in true widths between 0.5 metres and 7.95 metres, with grades ranging from 0.1 g/t gold and 7.78 g/t gold. The drilling intercepted the No. 3 vein, which was historically mined between 1936 and 1942, producing 73,438 ounces of gold and 15,922 ounces of silver from 145,123 tonnes of ore, milled grading an average 0.51 oz/ton gold (17 g/t).
This vein is part of a series of three parallel veins striking roughly north 20 degrees with a subvertical dip. A second vein system, consisting of four parallel subvertical veins strike roughly at north 30 degrees, was also intercepted during the drilling.
Highlights from the 2023 drilling program include: Confirmation of the extension of the Sturgeon River Mine mineralization by 600 metres to the northeast, with grade intercepts as high as 29.45 g/t Au over 3.5 metres (along core), including 186.00 g/t Au over 0.55 metres (along core); and confirmation of the extension of the Sturgeon River Mine mineralization by 320 metres to the southeast, with grade intercepts as high as 3.088 g/t Au over 7.5 metres (along core), including 36.0 g/t Au over 0.5 metres (along core) and including 9.0 g/t Au over 0.65 metres (along core).
Laurion’s team will be further refining the current 3D model of the vein system by systematically reviewing mineralized intervals with core pictures and oriented core to improve in further geometric prediction of the vein system.
Laurion has 263,346,102 outstanding shares of which approximately 72% are owned and controlled by insiders who are eligible investors under the “Friends and Family” categories.
Laurion’s emphasis is on the exploration and development of its flagship project, the 100%-owned mid-stage 57.43 km2 Ishkoday Project, and its gold-rich polymetallic mineralization.