Laurion Reports Initial NI43-101 Mineral Resource Estimate of 9,761,000 Tonnes Hosting Measured & Indicated Resource of 165,018
2011年4月6日 - 11:47PM
Marketwired
Laurion Mineral Exploration Inc. (TSX VENTURE: LME)(OTCQX: LMEFF)
("Laurion") is pleased to announce the completion of an initial
NI43-101 Mineral Resource Estimate for its 100% owned Bell Mountain
Project located in Churchill County, Nevada. The mineral resource
estimate was prepared by Telesto Nevada, Inc. of Reno, Nevada in
accordance with Canadian National Instrument 43-101 requirements.
The resource is based on 54,692 feet (16,671 m) of reverse
circulation ("RC") drilling completed on the Varga, Spurr and
Sphinx zones.
Resource Estimate Highlights:
-- Measured and Indicated resource of 9,761,000 tonnes of material at an
average grade of 0.526 g/t gold and 17.63 g/t silver, hosting 165,018
ounces gold and 5,533,907 ounces silver
-- Inferred resource of 2,046,000 tonnes of material at an average grade of
0.449 g/t gold and 13.26 g/t silver hosting 29,550 ounces gold and
872,411 ounces silver
Table 1 - Global Bell Mountain Resource Estimate
----------------------------------------------------------------------------
----------------------------------------------------------------------------
Average
Tonnage Gold
('000 Grade Gold Gold
Metric Tonnes) (g/Tonne) (grams) (ozs)
----------------------------------------------------------------------------
----------------------------------------------------------------------------
Measured 5,952 0.531 3,158,063 101,534
----------------------------------------------------------------------------
----------------------------------------------------------------------------
Indicated 3,810 0.518 1,974,575 63,484
----------------------------------------------------------------------------
----------------------------------------------------------------------------
Total Measured and
Indicated 9,761 0.526 5,132,638 165,018
----------------------------------------------------------------------------
----------------------------------------------------------------------------
----------------------------------------------------------------------------
----------------------------------------------------------------------------
Inferred 2,046 0.449 919,108 29,550
----------------------------------------------------------------------------
----------------------------------------------------------------------------
---------------------------------------------------------------------------
---------------------------------------------------------------------------
Average Total
Silver Equivalent
Grade Silver Silver Ounces Of
Metric (g/Tonne) (grams) (ozs) Gold
---------------------------------------------------------------------------
---------------------------------------------------------------------------
Measured 16.62 98,913,080 3,180,127 159,355
---------------------------------------------------------------------------
---------------------------------------------------------------------------
Indicated 19.22 73,210,796 2,353,780 106,280
---------------------------------------------------------------------------
---------------------------------------------------------------------------
Total Measured and
Indicated 17.63 172,123,876 5,533,907 265,635
---------------------------------------------------------------------------
---------------------------------------------------------------------------
---------------------------------------------------------------------------
---------------------------------------------------------------------------
Inferred 13.26 27,135,036 872,411 45,412
---------------------------------------------------------------------------
---------------------------------------------------------------------------
Notes:
1. Rounding of tons as required by Form 43-101F1 reporting guidelines (Item
19) results in apparent differences between tons, grade and contained
ounces in the mineral resource.
2. Mineral Resources are estimated at a pit discard cutoff Grade at 0.192
g/t AuEQ
3. The assumed parameters used for Bell Mountain used establishing a cut-
off grade is identified as follows:
- Gold Price - $1,149.89/oz (US) - 60% 3-year previous average/40% 2-
year forward (Dec. 31, 2010)
- Silver Price - $20.92/oz US - 60% 3-year previous average/40% 2-year
forward (Dec. 31, 2010)
- Recovery - Gold 80%, Silver 51%
- Total Operating Costs - $11.43/ton (mining, processing and G&A)
- Gold Equivalent Ratio - 55 to 1 (calculations assume metallurgical
recoveries and net smelter returns to be 100%)
Parameters used to estimate the in-situ resource are based on
information supplied by Bell Mountain Group. Assumptions were made
for items like strip ratio, mining costs, processing costs and
recovery percentages. These assumptions were based on published and
previously calculated rates for other mining operations having
similar parameters, and on testwork performed on Bell Mountain
samples. The operation parameters assume open pit mining and
cyanide heap leaching. A conceptual open pit mining method was used
for the purpose of delineating the mineralization with a reasonable
prospect of economic extraction. Tonnage estimates were based on a
2.6 grams/cubic centimeter density factor. Inverse distance square
method was used to interpolate grade in the resource model
(geostatistical methods of calculating resources) using the
database based on the reverse circulation ("RC") and core
drilling.
Cynthia Le Sueur-Aquin, Laurion's President and CEO commented,
"This initial resource estimate is a significant milestone in
creating value for the Corporation. We are extremely encouraged
with the results of the initial resource estimate which resulted in
an increase of 49% from the historic resource of 2.1 million tonnes
of 1.33 g/t gold and 37.55 g/t silver as a result of the 56 hole RC
drill program completed in November 2010 on the Spurr and Varga
zones. Laurion's primary goal is to successfully advance the
project to production in the short to medium term, contemplating a
conventional low cost open pit mining method with heap leach
processing configuration. Environmental Assessment and
Pre-Feasibility study work has commenced. In addition, strong
potential exists for further resource addition on the Spurr-Varga
fault which remains open at depth and laterally. The Spurr-Varga
fault extends for 1.8km on surface. The Sphinx zone remains open at
depth and laterally and can be traced on surface for 900 meters.
Laurion will look to further expand the resource and potentially
drill test a number of high priority regional targets."
Next Steps for the Bell Mountain Project:
1. To complete environmental permitting requirements to include development
of baseline needs and mine plan of operations.
2. To complete a Preliminary Feasibility study for Bell Mountain.
3. To concurrently review Laurion's target zone geology focusing on
extending known mineralization and testing peripheral targets within the
2,900 acres package at Bell Mountain.
About Laurion Minerals Exploration Inc.
The Corporation's focus is to make the transition from explorer
to near-term producer and envisages the realization of shareholder
value and wealth through monetization of its discoveries and
assets. 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
Churchill County, Nevada USA.
The Corporation has an option to acquire a 100% interest in the
Bell Mountain Gold Project with Globex Mining Enterprises Inc.
(TSX: GMX)(FRANKFURT: G1M) ("Globex") of Rouyn-Noranda, Quebec.
Laurion envisages the realization of shareholder value and
wealth through monetization of its discoveries and assets.
QUALIFIED PERSON
This news release has been reviewed and approved by Jonathan M.
Brown, Telesto Nevada, Inc. and Dana Durgin, Laurion's Bell
Mountain consulting geologist ("Bell Mountain Group") who are
Qualified Persons as defined by NI 43-101, with the ability and
authority to verify the authenticity and validity of the data
comprising this resource estimate.
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 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
Vice President Corporate Communications 1-888-212-4070 or
1-705-788-9186 1-705-788-9187 (FAX) www.laurion.ca
Laurion Mineral Explorat... (TSXV:LME)
過去 株価チャート
から 6 2024 まで 7 2024
Laurion Mineral Explorat... (TSXV:LME)
過去 株価チャート
から 7 2023 まで 7 2024