Laurion to drill Ishkoday project, Ontario
Laurion Mineral Exploration Inc. [TSXV: LME; OTC PINK: LMEFF] has planned its fall 2024 drilling program at the Ishkoday project, located 220 km northeast of Thunder Bay, northern Ontario.
This phase of exploration, led by Forage GeoNord of Dolbeau-Mistassini, Quebec, is expected to commence in mid-October and will focus on expanding known high-grade gold zones and delineating additional resources within the historic Sturgeon mine area.
Cynthia Le Sueur-Aquin, president and CEO, stated: “We look forward to building on the success of prior exploration programs. The campaign will target key structures within the historic Sturgeon River mine corridor, including the Sturgeon River Mine West (SRMW) and the 85M, M21, M24, M25, M6 and M50 quartz vein systems. These areas, positioned northwest of the Sturgeon River mine shaft, are known for their high-grade-gold-bearing veins.”
The corridor hosting the Sturgeon River mine encompasses at least 12 identified distinct gold-bearing veins. This vein system has a current known length of 900 metres and a width of 580 metres. The Sturgeon River mine area continues to show strong exploration potential, characterized by its dominant 10-degree-trending veins and secondary anastomosing quartz structures. The corporation’s fall 2024 drill program will focus on testing extensions of these veins, which remain open at depth and along strike, providing significant upside for resource expansion.
Highlights from 2024 exploration results:
West SRM grab samples: 73.20 g/t gold; 61.50 g/t gold and 53.90 g/t gold.
85A channel samples: 24.9 g/t gold over 0.65 metre (Line 15); 21.0 g/t gold over 0.75 metre (Line 20) and 9.36 g/t gold over 0.35 metre (Line 25).
85M channel samples: 7.48 g/t gold over 0.43 metre (Line 28); 4.69 g/t gold and 13.1 g/t silver over 0.30 metre (Line 18) and 2.83 g/t gold over 0.95 metre (Line 16).
Additionally, previous exploration of the M24 quartz vein yielded high-grade surface channel sample assays, including: 16.35 g/t gold over 0.55 metre and 9.81 g/t gold over 1.26 metres. Composite intervals ranged up to 6.20 g/t gold over 1.35 metres.
Sampling of the M24 and M25 quartz veins also returned notable assays of up to 8.84 g/t gold over 0.46 metre. These veins, part of the M-series vein system, cover a 1,800-metre-long corridor and have seen limited drilling, offering further potential for resource expansion.
Laurion’s continued efforts at Ishkoday aim to unlock the full potential of this prolific system, with the coming drill program focused on identifying new zones of mineralization and enhancing the overall resource estimate. Laurion is confident that the fall 2024 program will further demonstrate the high-grade nature of the Ishkoday project, contributing to the advancement of the project toward future development.
Laurion has 267,821,735 outstanding shares, of which approximately 72% are owned and controlled by insiders.
Laurion’s emphasis is on the exploration and development of its flagship project, the 100%-owned, mid-stage, 57 km2 Ishkoday project, and its gold-rich polymetallic mineralization.