August 24, 2021 (Vancouver, BC): LaSalle Exploration Corp. (“LaSalle” or the “Company”) (TSX-V: LSX) is pleased to announce assay results from 104 additional samples from bedrock exposures in the Goldhawk target area on its 100% owned Radisson Property (“Radisson” or the “Property”) located in the Eeyou Istchee – James Bay Territory, Québec. Goldhawk was discovered late in the 2020 field season (December 7, 2020 press release) and occurs within a gold bearing structural corridor, extending several kilometres to the east-southeast and onto the adjoining Harfang Exploration Inc. (“Harfang”) property where it was originally identified. To date, the Goldhawk target has been prospected over roughly a 3.25 kilometre2 area (Figure 1).
Commented Ian Campbell, President and CEO, “The results announced today continue to demonstrate the excellent prospectivity of the Radisson Property. We have added additional field crews to expand our efforts in both the Goldhawk and Goldfang target areas, as well as other high priority areas throughout the Property. Based on the success of our recent financing, we are fully funded to expand these gold discoveries.”
Most of the field work to date has been focused at and around the Goldhawk Main Shear. The 2021 mapping and prospecting program has outlined a 25-metre wide, west-northwest striking shear zone hosted by strongly deformed diorite over a strike length of 500 metres (Figure 2). 36%, or 29 out of 80 grab samples collected from the Goldhawk Main Shear returned grades in excess of 1.0 g/t gold and 12 of those samples returned assays ranging from 12.70 g/t to 90.70 g/t gold.
The gold assays reported today have extended the strike length of the high-grade portion of this shear from the original 100 metres to the current length of 300 metres (Figure 2). This zone consists of 1-5%, laminated sheared quartz veins. The dominant sulphide in the quartz veins is 1 to 5% pyrite with up to 15% pyrite in the altered diorite wallrock. Locally, 0.5% fine grained tourmaline is associated with the quartz veins. The mineralized diorite is characterized by intense potassic alteration (secondary biotite) and saussuritization, along with hematite staining.
Two additional parallel striking shear zones have also been discovered in the current field program. The first zone occurs 50 metres north of the Goldhawk Main Shear along the edge of a swamp covered area (Figure 2). This North Shear is 5 metres wide and has been traced over 300 metres with assays of the 4 grab samples taken to date ranging from 2.30 to 4.00 g/t gold (Figure 2). Another parallel shear zone (“South Shear”) discovered 200 metres south of the Goldhawk Main Shear has been traced over 250 metres of strike and contains assays up to 1.34 g/t gold with associated molybdenite up to 583 ppm. Despite having only collected 16 grab samples, widespread anomalous gold values of 0.2 to 0.5 g/t gold have been recovered from this new target.
Both the newly discovered North and South Shear zones have the same style of quartz vein mineralization in sheared diorite as occurs at the Goldhawk Main Shear and all of the shear structures remain open in both directions along strike. Both discoveries are currently being investigated in the field with follow-up prospecting work.
Additionally, a broad anomalous target area has been identified to the north of the shear zones (Figure 1, 2) that has returned scattered anomalous gold grades ranging from 0.05 to 1.0 g/t from limited prospecting to date. While much of this area is covered in swamp, foliation of the rock outcrops is parallel to the shears to the south. Further to the north, parallel lineaments interpreted from the magnetic and LiDAR surveys are targeted for field follow-up.
New “Talon Zone”
A new gold showing called the Talon Zone has been discovered in a vein exposure 600 metres north of the Goldhawk shear (Figure 1). This exposure returned grab sample grades of 6.46 g/t, 1.39 g/t and 1.36 g/t gold and importantly is aligned with the regional gold corridor to the southeast as documented by Harfang (see news release “Harfang Intersects 3.61 g/t Au over 5.90m and Announces a Second Drill Program at Serpent (Quebec),” dated July 13, 2021).
Several noteworthy metal associations with gold at the Goldhawk area include silver with grades in grab samples up to 14.9 g/t, anomalous tungsten, molybdenite and lead. These shear zones correspond to a moderate IP chargeability anomaly on the north edge of a magnetic high consistent with the overall trend of the structural corridor.
Ongoing Diamond Drilling Program
The drilling program that commenced in mid-July is nearing completion with initial drill testing completed on the Goldhawk, Goldfang, MM5, Eli and Whist Zones. The high-grade southeast extension of the Goldhawk Main Shear is currently being drilled. Assays will be released once they become available.
Ongoing Field Work
Concurrent with the diamond drill program, field crews are continuing to conduct systematic prospecting, geological mapping and bedrock sampling along the northwest extensions of the broader Goldhawk target area. Work will also be completed on several other high-priority targets such as the Tamarac-South Flank-Leo trend, which had returned grab samples grading up to 4.17 g/t gold, 3.36% copper and 21.20 g/t silver. Late last year, wide zones of sericite schist, interpreted by the Company to be favourable structures to host gold mineralization, will also be evaluated.
August 18, 2021 Press Release Correction
The press release of August 18, 2021 erroneously reported that a total of 19,443,750 Units were issued. The correct total number of Units issued in the private placement financing was 10,443,740 at $0.16 per Unit, for total proceeds of $1,671,000.
Field Work and COVID-19 Protocols
The health and safety of the staff at site, and the communities in which the Company operates, is of paramount importance to LaSalle. All employees and contractors work according to the most recent government protocols on COVID-19 restrictions, which define the measures and constraints to be adopted in order to limit the risks associated with COVID-19, ensuring the health and safety of everyone involved in the exploration programs.
The technical information in this news release was reviewed and approved by Alan Sexton, P.Geo., Vice-President, Exploration of LaSalle Exploration Corp., who is a non-independent qualified person for the technical disclosure as defined by National Instrument 43-101 Standards of Disclosure for Mineral Projects (“NI 43-101”).
The rock samples reported above were delivered to ALS of Rouyn-Noranda, a certified and accredited laboratory service provider, for sample preparation, with analyses being carried out by ALS in Vancouver. All rock samples were prepared by procedures CRU-31 (crush entire sample to 70% <2mm), SPL-21 (split 250 grams from the entire sample using a riffle splitter) and PUL-32 (pulverize 1000 grams to 85% <75 microns). A 30 gram sub-sample of all rock samples was analysed for gold by FA/AA (method Au-AA23), with any samples returning values of 10 g/t or higher being re-assayed by FA with a gravimetric finish (method AA-GRA21). All rock samples were also analysed for 33 elements by 4-acid ICP-AES (method ME-ICP61) and any base metals that returned values of 10,000 ppm or greater were assayed by a 4-acid ore grade (method Cu-OG62). No standards or blanks were inserted by LaSalle. ALS routinely inserts certified gold and base metal standards, blanks and pulp duplicates, and results of all ALS QA/QC samples are reported. The standard, blank and duplicate samples used by ALS were considered sufficient QA/QC for LaSalle’s sample analysis.
About LaSalle Exploration Corp.:
LaSalle Exploration Corp.is an exploration company focused on less explored districts of the Abitibi, recognized for mining investment based on mineral potential, policy and success, and the developing Eeyou Itschee-James Bay region in Québec as well as the high-grade gold Blakelock and Egan properties located in northeastern Ontario. LaSalle Exploration Corp. is listed on the TSX Venture Exchange (“TSX-V”) under the symbol “LSX”. Additional information about LaSalle can be found on SEDAR at www.sedar.com and on the Company’s website at www.lasallecorp.com.
On behalf of the Board of Directors
LASALLE EXPLORATION CORP.
President and Chief Executive Officer
Telephone: (604) 647-3966
Cautionary Note Regarding Forward-Looking Statements and Information
The information in this news release includes certain information and statements about management’s view of future events, expectations, plans and prospects that constitute forward-looking statements. These statements are based upon assumptions that are subject to significant risks and uncertainties. Because of these risks and uncertainties and as a result of a variety of factors, the actual results, expectations, achievements or performance may differ materially from those anticipated and indicated by these forward-looking statements. Any number of factors could cause actual results to differ materially from these forward-looking statements as well as future results. Although the Company believes that the expectations reflected in forward looking statements are reasonable, it can give no assurances that the expectations of any forward-looking statements will prove to be correct. Except as required by law, the Company disclaims any intention and assumes no obligation to update or revise any forward-looking statements to reflect actual results, whether as a result of new information, future events, changes in assumptions, changes in factors affecting such forward-looking statements or otherwise.
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