THE CORPORATE MANDATE

LAURION’s mandate is to complete the necessary economic studies for the optimal processing of the surface ore-bearing stockpile.

Processing of the surface ore-bearing stockpile will facilitate the mineral characterization representative of the host rock mineralized trends, simultaneous with evaluation and development of the 'proximal mine' gold mineralization within 1 km of the stockpiles, which could potentially generate feed for future operations. Initial work will consist of relogging of drill core, and stripping-sampling existing (and new) gold bearing veins to outline wide gold bearing stockworks.

THE HISTORY

LAURION’s Ishkoday Property hosts the former Quebec Sturgeon River Gold Mine, which produced 73,322 ounces of gold, and 15,929 ounces of silver between 1936 and 1942.

Gold was associated with the mined white quartz vein material, which was reportedly hand sorted and milled at an average grade of 15.71 g/t gold.  The host rock which was lower grade material from the mining operation was deposited onto a surface stockpile.  Phoenix Gold (1984) reported a historical grade of 2.95 g/t gold from a bulk sample, providing the indication of the potential gold grade of the Stockpile. 

On the basis of these initial encouraging results, LAURION commissioned a comprehensive program to accurately determine the location and volume of the Stockpile, and to sample the Stockpile using an excavator to dig pits for acquiring representative samples for gold analysis.  The objective of this program was to complete additional test work to complement the 2010 assay and metallurgical testing as outlined in the 2013 NI 43-101 Technical Report, to not only ascertain a greater level of confidence in the gold grade as well as silver, zinc and copper but to clearly define optimum processing stages of the Stockpile.

In 2010, thirty pits were excavated in the Stockpile, totalling 1.22 tonnes and 46 assay samples were collected, with deeper pits (maximum 5.2 meters deep) providing 2 or 3 selective samples at successively deeper levels.  Sampling of the excavated material was carried out to acquire samples that were representative of rock types and broken rock size.  Samples were collected in 20 litre pails for processing. Individual sample weights were between 20.8 and 30.7 kg, and the total sample weight tested was 1.22 tonnes. The <2mm fraction had the highest gold grade material averaging 6.20 g/t gold, and all samples in this size fraction had assays greater than 1.75 g/t gold.  The coarsest > 63 mm fraction had highly erratic values of nugget gold, and also contained the highest-grade sample of 32 g/t gold (QSWR-10-018).

The 2013 NI 43-101 Technical Report stated the Stockpile contained 144,070 tonnes grading 1.59 g/t gold in the Indicated Mineral Resources category.  The resource estimate for the Tailings Area is 137,501 tonnes grading 0.67 g/t gold for 2,944 contained ounces of gold in the Indicated category.  Total Indicated mineral resources for both deposits totals 281,571 tonnes grading 1.14 g/t gold for 10,327 contained ounces of gold.

Metallurgical tests Indicates 87% Gold Recovery in Gravity test work from the Mine Waste Pile, and 96% Recovery of Gold in Cyanide Leach test work from the Tailings.

The Stockpile appears to host a significant amount of fines material. As outlined in the Technical Report, the fines material (<2mm) from the sampling work completed in 2010 carried average values of 6.20 g/t gold, thus showing a significant potential for higher-grade gold values at the base of the tailings where gold would have percolated from gravity settling of the Stockpile.

2018 Surface Stockpile Testwork Program

A total of 20 SONIC drill holes were completed on the Stockpile in August 2018 for 185.3m, averaging 9.3m in a range of 3.7m to 15.2 m.  Each of the SONIC drill holes was strategically positioned to sample the inner core of the Stockpile to a minimum of 1.5m below the base of the Stockpile.

As part of this study to better understand the gravity settlement, the laboratory will be directed to sieve and weigh four specific clasts sizes from samples collected at specific depths to and below the base of the stockpile, so the material <2 mm can be more accurately qualified and quantified.  Results are anticipated in forthcoming months and are concurrent with existing negotiations on the Stockpile funding (See press releases April 25, 2018 and October 2, 2018)

TBT Engineering Consulting Group of Thunder Bay, Ontario, completed a resurvey of the Stockpile.  The specific previous specific gravity applied in 2010 to the block model of the Stockpile was 2.20 t/m3. . As a result of leveling of the Stockpile to accommodate the Sonic Drill and work by TBT, LAURION now estimates a specific gravity of 2.3 t/m3 to a volume of 76,682m3 over an area of 11,881m2 or approximately 176,369 tonnes, an increase of 32,299 tonnes from the 2013 Technical Report estimate of 144,070 tonnes.

The additional volume and tonnage refinement will be completed using future laboratory results, and the TBT survey information for the location 20 SONIC drill holes’ and their associated depths to the bottom of the Stockpile. 

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