October 6, 2021 (Vancouver, BC): LaSalle Exploration Corp. (“LaSalle” or the “Company”) (TSX-V: LSX) is pleased to announce that exploration permits have been received and that a comprehensive exploration program is set to begin on the Egan Gold Property (“Egan” or the “Property”). The Company also reports the discovery of additional high-grade gold at the E3 Zone with individual grab samples returning 44.70 g/t and 19.00 g/t gold from ongoing prospecting. Egan is strategically located in the heart of Ontario’s Abitibi gold camp, central to operations in Timmins, Kirkland Lake and Matachewan, which collectively have produced greater than 115M oz gold1,2.
Commented Ian Campbell, President and CEO of LaSalle “We are pleased to have received our exploration permits as everything is set to begin the first ever, comprehensive exploration program at Egan. We are particularly excited about the discovery of additional high-grade gold at the E3 target which continues to underscore the exploration potential of the Property. We are also looking forward to examining the new targets identified by the LiDAR and airborne magnetic surveys.”
These surveys have highlighted several geological structures that the Company deems favourable for gold mineralization. In particular, a set of NE-trending features on the newly acquired north-eastern portion of the Property within the Bradley Lake syenite body may represent extensions of the high-grade gold bearing E1 structure five kilometres to the southwest. LiDAR also provides the ability to partially “see through” the vegetation cover, detecting outcrop exposure and enabling accurate elevation maps to be generated. The airborne magnetic survey flown at 100 metre line spacing provides further definition of geological features and identified areas of structural complexity on the Property that correlate with the E3 gold zone.
Mapping and prospecting targeted priority geological features including the collection of 141 rock samples. Of these samples, five (5) returned assays of greater than 1 g/t gold, and ten (10) samples returned assays between 0.1 and 1 g/t gold. The highest-grade grab samples returned 44.7 g/t and 19.00 g/t Au were collected from the E3 showing area. This showing is 8 to 10 metres wide and has been outlined over 25 metres of strike. These high-grade samples consisted of chlorite schist with cross-cutting 0.5-1.0cm quartz veins, 1-2% fine -grained pyrite and minor chalcopyrite. Reconnaissance mapping and sampling outlined anomalous gold in bedrock, 0.1 to 0.2 g/t, over 750 metres of strike along the E3 trend to the northwest. These anomalous samples correlate with mapped chlorite schist and quartz veins within mafic volcanics and at the contact between the mafic volcanics and gabbroic intrusives. Trenching is planned for the E3 target area in the upcoming work program.
About the Egan Property
LaSalle optioned the Egan property in August 2020 based on the 2017 discovery of the E1 Zone when logging activities exposed a northeast trending shear zone with a well developed stockwork of quartz veins hosted in syenite. Sampling by the vendors of seventy-eight grab samples returned gold assay values ranging from 0.1 to 105.0 g/t gold with 15% of the samples returning over 10 g/t, including 105.0 g/t, 67.2 g/t and 47.6 g/t gold. Assays of nine grab samples by LaSalle ranged from 0.09 g/t to 63.70 g/t gold, including individual select grab samples yielding 63.70 g/t, 22.70 g/t and 4.70 g/t gold, while two composite chip samples returned 7.67 g/t gold over 3.0 metres and 2.80 g/t gold over 4.0 metres.
The E2 Zone, exposed in trenches dating from the 1920’s, is located 3 km southeast of the E1 Zone and consists of a series of easterly trending, laminated quartz veins hosted by mafic metavolcanics near the contact with the Bradley Lake Syenite. Historic sampling (2018-2019) returned high grade gold assay values of 15.3 g/t, 16.6 g/t and 19.30 g/t gold.
Cautionary statement: Grab samples described above are selective by nature and reported grades might not be representative of more extensive mineralized zones.
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 Timmins, Ontario, 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 1000 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 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 is a Canadian exploration company focused on less explored districts of the Abitibi in Ontario and Quebec, recognized for mining investment based on mineral potential, policy and success., LaSalle is actively exploring Radisson in the developing Eeyou Itschee-James Bay region in Québec as well as the Blakelock and Egan high-grade gold properties located in northeastern Ontario. LaSalle trades 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.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.