JV Article: LAURION positioned as ‘attractive acquisition target,’ company says

High-grade assay results from drilling near two past producing mines on LAURION Mineral Exploration’s (TSXV: LME; US-OTC: LMEFF) Ishkõday project in mining friendly northeastern Ontario should put the explorer on the radar screen of potential buyers, the company says. 

“Ishkõday has the hallmarks of strong discovery potential,” CEO Cynthia Le Sueur-Aquin says. “LAURION is actively positioning Ishkõday as an acquisition target, leveraging its mid-stage, derisked status and extensive drilling success.”  

Drill programs have delivered a steady stream of high-grade intercepts. Highlights include 0.55 metre grading 186.00 grams gold per tonne within a broader interval of 3.50 metres of 29.5 grams gold starting 172.50 metres downhole in drillhole LME23-032; and 1.20 metres grading 17.47 grams gold from 55.80 metres, including 37.70 grams gold over 0.50 metre in LME4-055.  

Other highlights were 1 metre grading 6.60 grams gold within a broader interval of 3.50 metres grading 2.08 grams gold from 711.00 metres in LME24-049; and 5.25 metres grading 7.29 grams gold from 32 metres, including 0.50 metre grading 68.50 grams gold in LME24-052.  

The 57-sq-km project, near the town of Beardmore and about 220 km northeast of Thunder Bay, is bookmarked by the historic Sturgeon River and Brenbar mines, which were active in the 1930s and 1940s. Brenbar is 1 km to the west of the Sturgeon River mine, and the company has delineated a 6-km by 2.5-km mineralized corridor that encompasses both mines and demonstrates significant gold and silver mineralization, Le Sueur-Aquin says. 

The Sturgeon River mine produced 73,738 oz. gold and 15,922 oz. silver from 145,123 tonnes grading 17 grams gold and 3.12 grams silver between 1936 and 1942; while Brenbar churned out 134 oz. gold from 46 tonnes averaging 82.50 grams gold between 1941 and 1949. 

Exploration work demonstrates substantial mineralization across multiple target areas, with opportunities to expand existing structures along strike and at depth, particularly around the two mines, Le Sueur-Aquin says. 

Underground development at Brenbar was confined to a 64-metre-deep shaft and drifts at the 31-metre and 61-metre levels, with numerous exposed quartz veins with widths of up to 1 metre. At the Sturgeon River mine, historical workings extended down to 685 metres, highlighting significant untapped exploration potential at greater depths. 

Geological studies have identified two distinct mineralizing events at Ishkõday, separated by 40 million years—an epithermal-polymetallic phase associated with base metal and silver mineralization and a mesothermal (orogenic) phase with gold-rich mineralization from deep-seated structural activity.  

The company is prioritizing gold and base metal exploration and benefits from an extensive database of fieldwork, geophysics and 447 diamond drill holes totaling 90,358 metres, including a range of geophysical datasets such as magnetics, electromagnetics, IP and LiDAR surveys.  

“Ishkõday’s district-scale potential is particularly compelling,” says Le Sueur-Aquin. “Many of Canada’s past-producing camps such as Timmins and Val-d’Or began with small discoveries before evolving into major mining centres. Ishkõday has the potential to develop along a similar path due to the presence of two high-grade historic mine workings, stockpiles, underexplored vein systems and extensive surface mineralization in the Onaman-Tashota and Beardmore-Geraldton Greenstone Gold Camps.” 

In March, the company kicked off the season with a deep-penetrating Titan DCIP and Magnetotellurics geophysical survey focusing on the area around the two mines. The survey will provide high-resolution data to depths of up to 1.5 to 2 km and advance its exploration strategy by identifying large-scale structures to enhance drill targeting. 

A 7,000- to 10,000-metre drill program is planned for 2025. At the Brenbar mine area, drilling will target key structural intersections within shear zones and fractures, prioritizing high-potential veins while also assessing alteration and brecciated zones associated with high-grade mineralization, Le Sueur-Aquin says. Meanwhile, at the Sturgeon River mine area, infill and deep drilling will focus on expanding known mineralized zones by targeting high-grade intercepts. 

In addition, the company is working toward an advanced exploration permit, which will enable it to process surface stockpiles from historic mining operations at Brenbar and Sturgeon River. 

The company is strategically positioned to benefit from strong gold market conditions, too, she says. “The technicals on spot gold indicate a range of US$3,100 to US$3,300 per ounce.”  

The company has about 274 million shares outstanding, of which approximately 73.6% are owned and controlled by insiders and eligible investors under the ‘friends and family’ categories.  

“My directors and I hold a significant percentage of the shares,” Le Sueur-Aquin says. “It is fundamental to demonstrate to investors that you as a CEO and president and your directors believe in the project and have significant skin in the game.” 

The preceding Joint Venture Article is PROMOTED CONTENT sponsored by LAURION Mineral Exploration and produced in co-operation with The Northern Miner. Visit: www.LAURION.ca for more information.