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
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.
----------------------------------------------------------------------------
Drill Hole From To Interval
Number (meters) (meters) (meters) Au g/t Zone
----------------------------------------------------------------------------
LME10-09W
Azimuth 085
Dip -55 348.02 349.10 1.08 4.19 New Zone 4
-------------------------------------------------------------
Incl. 348.02 348.52 0.50 8.96
-------------------------------------------------------------
376.30 379.60 2.60 0.75 New Zone
-------------------------------------------------------------
Incl. 377.50 379.00 0.50 2.25
-------------------------------------------------------------
466.45 467.40 2.95 1.24 New Zone 5
-------------------------------------------------------------
Incl. 466.45 467.40 0.95 4.50
-------------------------------------------------------------
686.45 686.95 0.50 1.23 M vein
-------------------------------------------------------------
720.70 722.73 2.03 1.36 10 Vein
-------------------------------------------------------------
Visible Gold
Incl. 720.70 721.20 0.50 2.65 (VG)
-------------------------------------------------------------
3 vein (Main
738.45 739.00 0.55 15.30 Zone) with VG
----------------------------------------------------------------------------
All significant gold intersections for LME 10-10 are tabulated below.
----------------------------------------------------------------------------
Drill Hole From To Interval
Number (meters) (meters) (meters) Au g/t Zone
----------------------------------------------------------------------------
LME10-10
Azimuth 090
Dip -60 71.00 74.00 3.00 1.04 New Zone
-------------------------------------------------------------
Incl. 73.00 74.00 1.00 2.21
-------------------------------------------------------------
427.36 443.80 16.44 0.31 New Zone 5
-------------------------------------------------------------
Incl. 428.05 428.73 0.68 1.41
-------------------------------------------------------------
Incl. 442.12 444.80 0.68 2.37 New Zone
-------------------------------------------------------------
680.16 680.89 0.63 1.55 M Vein
-------------------------------------------------------------
726.34 727.62 0.69 2.32 10 Vein
-------------------------------------------------------------
3 vein (Main
762.10 762.62 0.51 3.02 Zone) with VG
-------------------------------------------------------------
821.24 821.85 0.61 1.18 New Zone
----------------------------------------------------------------------------
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.
Neither 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.
Contacts: Laurion Mineral Exploration Inc. Cynthia Le
Sueur-Aquin President 1-888-212-4070 or 1-705-788-9186
1-705-788-9187 (FAX) Laurion Mineral Exploration Inc. Karen Doxsee
VP Corporate Communications 1-888-212-4070 or 1-705-788-9186
1-705-788-9187 (FAX) www.laurion.ca
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