Vancouver, B.C. – December 7, 2021 – LaSalle Exploration Corp. (TSX-V: LSX, “LaSalle” or the “Company”) is pleased to announce continuing progress of the comprehensive surface exploration program on the Egan Gold Property (“Egan” or the “Property”). 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.
The Company reports several new discoveries including two that are proximal to the high grade E1 occurrence and a third located in a northwest trending shear zone in the E3 area with individual grab samples returning up to 7.12 g/t gold from prospecting. A total of 71 line-kilometres of induced polarization (IP) surveying was completed; preliminary analyses identified several anomalous chargeability trends interpreted to represent sulphide mineralization. Soil geochemical sampling was completed over the area surrounding the E1 target area and results are anticipated later this month.
Commented Ian Campbell, President and CEO of LaSalle “We are pleased to have completed our first exploration program at Egan. We are particularly excited about the discovery of a parallel zone to the E1 target with similar syenite hosted gold mineralization and high-grade gold southwest of the E3 target, all of which continue to underscore the exploration potential of the Property. We are looking forward to the follow-up exploration program to further advance these targets.”
Prospecting and mapping discovered a new gold showing which may represent a parallel zone or possible faulted extension of the original E1 showing 300 metres to the north-northeast. This discovery trends 045 degrees and is characterized by strongly hematite altered syenite that hosts 3-5% quartz veins and 5-7% disseminated pyrite similar to the E1 occurrence. Grab samples returned values up to 3.02 g/t gold, with anomalous silver, lead and zinc, which is a similar geochemical signature to the E1 showing.
Sub-angular boulders of hematite altered syenite with 2-3% quartz veins and 1-2% pyrite were discovered over an area of 100 x 50 metres approximately 150 metres north-northwest of the E1 showing. Significantly, these boulders are considered to be very locally sourced and are up ice direction from E1 and therefore considered to represent a different source than E1. The grab samples from these boulders contain low level gold anomalism, up to 80 ppb, with anomalous silver, lead and zinc.
Twenty-five (25) line-kilometres of pole-dipole IP/resistivity survey was completed in this area. Preliminary analysis of the data suggests a weak, easterly trending chargeability anomaly which extends for 700 metres over four grid lines and parallels the E1 structural trend.
One hundred and twenty-eight (128) B-horizon soil samples were collected on the E1 grid at 200 metre spaced grid lines and 100 metre station spacing; results are pending
E1 Zone Northeast Extension
Recent work in the north-eastern portion of the Property outlined an anomalous silver, lead and zinc geochemical signature over about 1,500 metres within the Bradley Lake syenite body. Importantly, this geochemical signature is similar to that of high-grade gold bearing E1 structure and suggests a possible 5 kilometre extension of the structure hosting the E1 style mineralization. This signature is also coincident with several structural features first identified by the combined LiDAR and airborne magnetic survey completed in the spring.
Fifteen (15) line-kilometres of IP/resistivity was completed in this area. Preliminary analysis of the data suggests a high chargeability anomaly trending southeasterly and extending for over 600 metres within mafic volcanics and paralleling the contact with the Bradley Lake syenite, the E2 structure 1,200 metres to the north.
E3 Zone Extension
Prospecting and mapping discovered E3 style mineralization 800 metres to the southwest in a 50 metre long, 350 degree trending shear zone in mafic volcanics that hosted quartz veins with 1-3% pyrite. Grab samples returned up to 7.12 g/t gold with anomalous silver.
Thirty-one (31) line-kilometers of IP/resistivity was completed. Preliminary analysis of the data suggests three parallel, easterly trending, weak chargeability anomalies, which extend for 600 metres over three grid lines, east of the E3 occurrence. In addition, strong to moderate, easterly trending chargeability anomalies were outlined for 1,200 metres over six grid lines, in an area of intersecting structural features, 1,500 metres north of the E3 occurrence.
An anomalous, easterly trending copper in bedrock anomaly, was identified 400 metres north of the E3 Zone. This 1,200 metre long anomaly is located in a gabbro with 10-15% pyrite-chalcopyrite mineralization and contains up to 0.97% copper in grab samples.
LaSalle is in the process of compiling and evaluating all the data collected over the 2021 exploration campaign with the objective of designing a follow-up program to further assess the targets outlined to date.
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 Ian Campbell, P.Geo., President and CEO 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), PUL-32 (pulverize 1000 grams to 85% <75 microns) and SPL-21 (split 250 grams from the entire sample using a riffle splitter). 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.
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