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.

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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