2019 FIELD EXPLORATION PROGRAM

LAURION'S  Field Campaign started on May 21, and consists of mechanized outcrop stripping, power washing, geological mapping, channel sampling and assaying of an additional 3,000m in 5 stripped areas or lines (the “Lines”): (1) finishing up TR18-3, the SW extension of the Marge/“F” Veins system; (2) the historic past producing Sturgeon River Mine’s No. 3 Quartz Vein and the nearby No 1, No. 2 and No. 8/11 Veins (TR19-1); (3) the Marge/“F” Quartz Vein system (TR19-2); (4) the CRK polymetallic sulphide vein (TR19-3); and (5) the “A” Zone polymetallic sulphide vein (TR19-4).

Additional work will consist of detailed mapping of the SW, SE and NE sectors of the Target Area to confirm extensions of known and new gold bearing quartz and polymetallic sulphide veins; and ultimately completing the construction of the 2-D and 3-D geological-mineralization model by LAURION and Mira Geoscience; and the planning of the Stage 3 diamond drilling program.  A first pass model is expected by mid-June.

The Campaign is slated for completion at the end of Q3-2019.

The Stage 2 Campaign also continues on other key fronts with:

Core re-logging of key previous LAURION drill holes from across Ishkoday to re-evaluate the rock units, structures, alteration and mineralization, and complete additional core sampling to ensure continuous assaying of the entire drill core for the evaluation of the bulk gold potential;

Mira Geoscience of Montreal, Quebec, in their 3D-GIS technology and advanced geological modelling at the regional 1:250,000 and 1:50,000 map scales (“Mira”);

The Nordmin Group of Companies of Thunder Bay, Ontario, in their geological analysis and eventual mineral resources modelling at the local 1:50,000 and 1:15,000 map scales (“Nordmin”); and finally

An airborne magnetic survey will be completed to further refine Rock Units, structures and sulphide-magnetite veins in 3D and help in the definition of litho-structural domains.

Further Geological Observations from the Outcrop Stripping Work

TRENCH TR18-3

Partially stripped in 2018, the northeast trending M24 Quartz Vein (the “M24”) portion of TR18-3 was fully exposed ay surface by recent stripping and washing, and channel sampled with more than 200 samples taken. The M24 measures more than 100m in length and is more than 3m wide, tapering off at the extremities to under 30cm, but remains open at both ends before disappearing under the overburden. Additional secondary centimeter wide parallel and perpendicular quartz veining occur on both sides of the M24 for several meters in a sheared (near the M24) to massive, pyrite-bearing porphyry host at the southwestern end of the Sturgeon River Porphyry (the “Porphyry”).

The Sturgeon River Pluton already hosts the northeast trending Marge, “X” and “F” gold bearing quartz veins (the “Marge”). The central 314m long by 36cm wide Marge Gold-Quartz Vein yielded 17.62 g/t gold; whereas a 21m long by 25cm wide segment of the “F” graded Marge, some 625m to the southwest.

Gold assay results for the M24 are pending.

TRENCH TR19-1

Stripped area TR19-1 covers the entire surface exposure of the north-northeast trending No. 3 Quartz Vein (the “3 Vein”) that was the main host of the gold mineralization at the historic Sturgeon River Mine (the “Mine”) yielding 73,438oz of gold and 15,922 ounces of silver (L. Koskitalo, Phoenix Gold Mines, 1984).

What appears as a single 3 Vein (L. Koskitalo, Phoenix Gold Mines, 1988) is in fact a package of multiple, interconnected and anastomosing quartz veins oriented in two main directions of north-south and northeast-southwest, with vein distribution and density linked to corridors in the Porphyry. The 3 Vein is also accompanied by centimeter and millimeter wide sub-vertical and flats veins, veinlets and stringers forming stockworks (the “Stockworks”), tens to hundreds of meters in lengths and widths. Geology maps from the drifts and crosscuts of the Mine (past production from 1935 to1942) indicate a similar pattern of veining to more than 700 m below surface, also validated by the presence of significant quartz veinlets in Porphyry “waste rock” from the Mine’s stockpile. Selective grab samples taken from the Mine’s Stockpile either show individual, sub-millimeters or aggregates of millimeter-sized gold grains.

In addition, the stripping also uncovered the historic Nos. 1 and 2 Quartz Veins, located some 50m and 100m, respectively, west of the 3 Vein. Both veins trend more north-easterly than the 3 Vein. All three veins are termed shear veins with meter-wide highly schistose wall rocks containing quartz veinlets and stringers, and disseminated pyrite.

Ongoing channel sampling of TR19-1 is not only focused on determining grades of the larger centimeter to meter wide quartz veins, but also the veins-veinlets-stringers in the host Porphyry.

LAURION has also re-examined previous NQ drill core from its drilling in 2010 at the Mine: drill holes LME-2010-008 (5511139N/443903E, 105°/-65°, 911m), 008Wedge (5511139N/443903E, 105°/-65°, 900m), 009 (5511140N/443899E, 085°/-60°, 799m), 009Wedge (5511139N/443903E, 084°/-56°, 761m) and 010 (5511240N/443903E, 090°/-60°, 822m), all drilled across several hundred meters of the Mine Rock Units and the 3 Vein and the No. 1 and 2 Quartz Veins. The re-examination has helped confirm rock types based on a new simplified rock unit nomenclature, structures (shear zones) and mineralization types (shear and extension quartz-carbonate veins, veinlets and stockworks).

Drill core sampling intervals were only limited to obvious mineralized intervals containing individual and combined sulphide bearing quartz veins and either foliated, schistose and/or altered intervals, with an average sampling rate of 35% in a range of 28% (LME-2010-009) to 44% (LME-2010-010). Assuming a bulk gold model, 100% of the core should be analyzed, owing to the fact that some of the gold may be found outside the larger quartz veins, as it continues to be observed in selected grab samples from the Mine’s Stockpile.

TRENCH TR19-2

Stripping of the CRK sulphide gold-silver-zinc-copper veins sector (the “CRK”) suggests a more extensive mineralization system than previously observed, combining several similar historic and previous showings, such as the “A” Zone located more than 1.4 km to the northeast, and the Tehya, Joe, Ahki, “D” and McLeod sulphide veins located 250m to 800m to the north, southwest and northeast.

The CRK likely extends for more than 2km by 400m containing massive, semi-massive and disseminated sulphide veins composed mostly sphalerite (zinc sulphide) and minor chalcopyrite (copper sulphide) and galena (lead sulphide), with gold-silver. Early very fine-grained, greyish, centimeter to metric siliceous veins can also be found criss-crossing the rhyo-dacite/dacite host, giving the rock a brecciated appearance. Also present are late intermediate to mafic porphyritic dykes, in addition to a mix of chlorite-actinolite-magnetite “shear veins”, sulphide bearing fractures, semi-massive centimeter to meter long sphalerite-rich sulphide corridors, and typical Ishkoday through going white quartz veins, such has the A-2 Quartz Vein (the “A-2”). Locally, the A-2 splits in several veins forming anastomosing patterns.

Confirming the extensions of known and new gold bearing quartz and polymetallic sulphide veins will ultimately help in completing the construction of the 2-D and 3-D geological-mineralization model (the “Model”). The Model will be provide LAURION with a solid technical base to initiate diamond drilling to prove the upside potential as part of the Stage 3 program to start later in 2019-2020. LAURION’s work continues confirming the extensive quartz and sulphide veining across the Target Area. The field portion of the Stage 2 Campaign is slated for completion at the end of Q3-2019.

SUMMARY OF 2018 SUMMER FIELD PROGRAMS  - STAGE 1 AND STAGE 2

The initial Stage 1 field validation work commenced in May 2018, focused on prospecting, geological mapping and sampling with manual stripping and channel sampling of selective historic mineralized veins and in new areas.

Of the 322 selective field grab and channel samples taken in 2018, 45 samples were anomalous in either gold, silver, copper or zinc or any combination of these elements (see the Corporation’s news release dated August 14, 2018). The majority of samples were taken in the southern claims 3km by 1km Target Area (the “Target Area”). The southern Ishkoday claims lies south of the Sturgeon River, which is considered a major fault, part of the Sturgeon River Break separating the northern and southern claims and geological domains. The Target Area consists an extensive network of NE-SW trending and extensive quartz and, locally sulphide-rich, vein systems hosting both precious and base metals mineralization.

In the Target Area, 33 assay results were greater than 0.30 g/t gold, and of these 6 assay results were greater than 18 g/t gold; all in quartz veins with the highest values located in channel samples with visible gold from the “85-A2” quartz vein yielding 40.80, 43.00 and 1,185.00 g/t gold. Two selective grab samples were not. One located in a chlorite-sericite schist with trace pyrite yielded 27.50 g/t gold; and a second, in a porphyry with 1% pyrite gave 28.40 g/t gold.

Some 10 assay results yielded greater than 12 g/t silver and 4 assay results over 34.28 g/t silver. Half the anomalous silver results were found in sericite-chlorite-sulphide schists (up to 30.20 and 47.10 g/t silver); the other half in quartz veins (up to 86.40 and 112.00 g/t gold). Only 1 assay result gave greater the 1% copper in a diorite/granodiorite porphyry (1.61% copper); and 13 assay results greater than 1% zinc. Anomalous zinc is found in four rock settings: rhyolites/dacites/rhyodacites (up to 1.74% zinc), sericite-chlorite schists (up to 3.26% and 12.00% zinc), chlorite veins (1.89% zinc) and quartz veins (up to 2.82% zinc). Of note, these selected samples may not necessarily be representative of the mineralization hosted on Ishkoday.

The Stage 2 campaign planned on determining if most or a selective portion of the hundreds of quartz veins identified by previous workers, and subsequently 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. Two Lines were stripped in 2018 during the initial Stage 2 work: TR18-1 covering the 85-A2 gold-quartz vein system approximately 1km NE of the past producing Sturgeon River Mine’s No. 3 Quartz Vein, and TR18-2 covering the southern extension, 350m SW, of the historically mined #3 gold-quartz vein (see the Corporation’s news release dated November 13, 2018).

Of the 468 total 20cm to 2.2m channel samples taken from Line TR18-1, there were 53 gold assay results between 0.10 g/t and 1 g/t gold, and 17 above 1 g/t in the range 1.02 g/t gold over 0.2m to 27.70 g/t gold over 0.4m, with the most significant interval of 17.1 g/t gold over 1.5m. There were an additional 70 silver assays between 0.10 g/t and 1 g/t silver, and 51 above 1 g/t in the range 1.00 g/t silver over 0.3m to 11.50 g/t silver over 0.3m. Copper assays yielded 3 results between 0.10% and 1% copper; whereas there were 37 zinc assays between 0.10% and 1% zinc, and 6 above 1% zinc from 1.03% zinc over 0.6m to 3.80% zinc over 0.8m.

The geology consisted of felsic to intermediate volcanic and intrusive rocks, mostly rhyolite/dacite flows and tuffs, cut by mafic dykes.  Sulphide mineralization (pyrite, chalcopyrite and sphalerite) occurs in NE-SW trending centimeter and metric wide shear zones, in addition to sulphide–rich metric-sized veins similar to those 700m NE in the “CRK” veins sector. LAURION’s previous channel sampling work in 2014 from the “CRK” Showing, yielded typical assay results of 8m width of 1.08 g/t gold, 4.90 g/t silver, 1.11% zinc and 0.08% copper, including 5m width of 1.68 g/t gold, 7.00 g/t silver, 1.27% zinc and 0.10% copper.

The northernmost 140m of Line TR18-1 outlined 8 NE-SW trending quartz veins belonging to either the “85-A2” or the “A” vein systems. Both vein systems were historically channel sampled and assayed by Phoenix Gold (1988) as reported in 1986 Exploration Program Report, Sturgeon River Gold Mines Property, 34 pages, by L.O. Koskitalo, February 1988: the “85-A2” with 13.41 g/t gold over a 168m length and 19 cm width, including 21.92 g/t gold over a 52m length and 14 cm width, and 14.71 g/t gold over a 50m length and 23cm width; and 20.26 g/t gold with visible gold over a 20m length and 20cm width; and the “A” quartz vein system with 14.71 g/t gold over a 50m length and 23cm width (from the “A-2” Vein, 3.63 g/t gold over a 50m length and 25cm width (from the “A-5”); and 6.17 g/t gold over a 20m length and 95cm width (from the “A-4”). The quartz veins undulate and form anastomosing patterns as observed in the “85-A2” vein system, similar to other structurally hosted lode gold deposits.

LAURION’s 2018 Stage 1 program selectively grab sampled the “85-A2”, which yielded 40.80, 43.00 and 1,185.00 g/t gold, attesting to the prospectivity of the quartz veins. Current channel sampling confirmed the gold-bearing potential of the “85-A2” with a selected assay result of 18.50 g/t gold over a 20cm width.

Of the 475 total 30cm to 8.5m channel samples from line TR18-2, there were 17 gold assay results between 0.10 and 1 g/t gold, and 1 above 1 g/t at 1.29 g/t gold over 0.5m. There were 55 silver assays between 0.10 and 1 g/t silver, and 45 above 1 g/t in the range 1.10 g/t silver over 1.3m to 9.10 g/t silver over 0.7m. Only 1 anomalous copper assays 0.1% and 1% copper. There were 19 zinc assays between 0.1% and 1% zinc, and 2 above 1% zinc, 1.58% zinc over 1.0m and 2.72% zinc over 4.0m. The geology consisted of felsic to intermediate volcanic rocks (fine to coarse tuffs, rhyolite/dacite flows, and several generations of crosscutting mafic dykes). Sulphide mineralization (pyrite, chalcopyrite and sphalerite) is rare, but increases in narrow NE-SW and N trending shear zones. Two major vein sets were identified including the newly discovered 040° Bootleg quartz vein that may be the SW extension of the “85-A2” quartz vein located more than 1km to the NE.

 

 

 

 

 

 

 

 

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