Laurion Intersects 15.30 g/t Gold Over 0.55 Meters in No. 3 Vein at Sturgeon River Project, Beardmore, ON
2011年3月21日 - 10:57PM
Marketwired Canada
Laurion Mineral Exploration Inc. (TSX VENTURE:LME)(OTCQX:LMEFF) ("Laurion") is
pleased to announce assay results from drill holes LME10-09W and LME10-10, the
fourth and fifth drill holes that complete the first phase of the Company's deep
drilling program on the Sturgeon River Mine area. Both holes reported visible
gold in the No. 3 vein. LME10-09W intersected the No. 3 Vein approximately 20
meters above and 15 meters north of the intersection in LME10-09, and it
intersected 15.30 g/t gold over 0.55 metres. Hole LME10-10 intersected 3.02 g/t
gold over 0.51 metres in the No. 3 Vein. There were multiple other zones of
mineralization encountered in the hole with 1g/t to 9 g/t gold over narrow
widths tabled below. Drill hole LME10-09W was designed to intersect the No. 3
Vein under the shaft location and is a wedge from drill hole LME10-09 which
intersected 6.00 g/t gold over 1.73 metres in the targeted No. 3 Vein, in which
visible gold was reported, including 14.30 g/t gold over 0.69 metres in the
quartz portion of this zone. Hole LME10-10 was targeted to intersect the No. 3
Vein approximately 100 meters further north along the strike of the vein.
All significant gold intersections for LME10-09W are tabulated below.
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Drill Hole From To Interval
Number (meters) (meters) (meters) Au g/t Zone
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LME10-09W
Azimuth 085
Dip -55 348.02 349.10 1.08 4.19 New Zone 4
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Incl. 348.02 348.52 0.50 8.96
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376.30 379.60 2.60 0.75 New Zone
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Incl. 377.50 379.00 0.50 2.25
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466.45 467.40 2.95 1.24 New Zone 5
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Incl. 466.45 467.40 0.95 4.50
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686.45 686.95 0.50 1.23 M vein
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720.70 722.73 2.03 1.36 10 Vein
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Visible Gold
Incl. 720.70 721.20 0.50 2.65 (VG)
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3 vein (Main
738.45 739.00 0.55 15.30 Zone) with VG
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All significant gold intersections for LME 10-10 are tabulated below.
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Drill Hole From To Interval
Number (meters) (meters) (meters) Au g/t Zone
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LME10-10
Azimuth 090
Dip -60 71.00 74.00 3.00 1.04 New Zone
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Incl. 73.00 74.00 1.00 2.21
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427.36 443.80 16.44 0.31 New Zone 5
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Incl. 428.05 428.73 0.68 1.41
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Incl. 442.12 444.80 0.68 2.37 New Zone
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680.16 680.89 0.63 1.55 M Vein
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726.34 727.62 0.69 2.32 10 Vein
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3 vein (Main
762.10 762.62 0.51 3.02 Zone) with VG
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821.24 821.85 0.61 1.18 New Zone
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Based on the azimuth and dip of the drill holes and the projected strike and dip
of the veins from the underground workings it is estimated that the true width
of the vein intersections is 70-85% of the drill hole intervals.
The Sturgeon River Mine historically reported production of 73,322 ounces of
gold and 15,929 ounces of silver from 145,123 tons taken primarily from No. 3
Vein during 1936 to 1942, but also from the No. 10 Vein and the M Vein that were
encountered at the lower depths of the mine in the later years of mine life.
The shaft was sunk to a depth of 2,100 ft. (640 m) with development to the 1,750
ft. level (530 m). Mining occurred mostly above the 1425 ft. level. These first
phase drill holes were designed to intersect the No. 3 Vein at or below the
level of the bottom of the shaft, and to intersect other known sub-parallel gold
bearing structures.
The drill intersections received to date provide support for a down plunge
extension of the No.3 mineralized shoot and indicate that additional mineralized
zones on other veins and shear horizons are located close to the previous
underground workings. Laurion's program is considered a first phase of
delineating that mineralization for possible 43-101 resource estimation.
All sampling from the 2010 programs were delivered by GeoVector Management Inc.
personnel to the Activation Laboratories ("Actlabs") facility in Thunder Bay
and/or Geraldton. Actlabs is an ISO/IEC 17025 accredited analytical laboratory.
Analysis for gold was by fire assay with AA finish, followed by fire assay with
gravimetric finish for samples over 3 g/t Au. Samples were also treated with a
multi-acid ICP process, and base metal values over detection limit were treated
to ore grade base metal assays. Analytical accuracy and precision are monitored
at the laboratory by the analysis of reagent blanks, reference material and
replicate samples. Quality control is further assured by the use of
international and in-house standards. GeoVector also routinely inserted blanks
and certified standards into the sample stream in order to independently assess
analytical accuracy. All certified standard assays were within acceptable
limits.
The technical information contained in this news release has been verified by
Joe Campbell, P. Geo., consulting geologist with GeoVector Management Inc. Mr.
Campbell is the project manager for Laurion's Sturgeon River project and he is a
Qualified Person as defined in "National Instrument 43-101, Standards of
Disclosure for Mineral Properties."
About Laurion Mineral Exploration Inc.
Laurion's focus is to make the transition from explorer to near-term producer.
Laurion's exploration horizons are focused primarily on gold with a secondary
interest in base metals and PGEs with key interests in prospective mining
properties located in Ontario and Nevada USA.
Laurion envisages the realization of shareholder value and wealth through
monetization of its discoveries and assets.
This news release includes certain forward-looking statements concerning the
future performance of Laurion's business, operations and financial performance
and condition, as well as management's objectives, strategies, beliefs and
intentions. Such statements include, but are not limited to, statements
concerning Laurion's acquisition of the Property from Bond and Renner as
described above, statements concerning the approval of Laurion's application to
trade its common shares over the facilities of the OTCQX and the commencement of
such trading. Forward-looking statements are frequently identified by such words
as "may", "will", "plan", "expect", "anticipate", "estimate", "intend" and
similar words referring to future events and results. Forward-looking statements
are based on the current opinions and expectations of management. All
forward-looking information is inherently uncertain and subject to a variety of
assumptions, risks and uncertainties, including the speculative nature of
mineral exploration and development, fluctuating commodity prices, competitive
risks and the availability of financing, as described in more detail in our
recent securities filings available at www.sedar.com. Actual events or results
may differ materially from those projected in the forward-looking statements and
Laurion cautions against placing undue reliance thereon. Laurion and its
management assume no obligation to revise or update these forward looking
statements.
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