Laurion Intersects 3.10 g/t Au, 27.5 g/t Ag, 0.38% Cu and 5.63% Zn Over 3.10m and 0.10 g/t Au, 10.1 g/t Ag, 0.11% Cu and 2.85% Z
2011年5月26日 - 10:00PM
Marketwired Canada
Laurion Mineral Exploration Inc. (TSX VENTURE:LME)(OTCQX:LMEFF) ("Laurion")
announces assay results from drilling carried out in April on the North East
Grid of a polymetallic base metal target on its Sturgeon River Property,
Beardmore, Ontario. All 7 holes Intersected Au, Ag, Cu, Zn mineralization. As a
result of this drill program, Laurion has identified the potential for a
precious metal rich VMS deposit. Several separate mineralized horizons were
tested within a package of intermediate to felsic fragmental volcanics adjacent
to diorite/granodiorite porphyry. The targets tested included two holes on the
Ahki Zone (2010 grab sample of 6.76 g/t Au, 8.5 g/t Ag, 0.70% Cu and 10.2% Zn),
one hole on the extension to the Tehya Zone (previously reported 0.45 g/t Au,
27.80 g/t Ag, 0.94% Cu and 3.91% Zn, over 4.08 m in drill hole LME10-07 located
600 metres southwest of the current drilling), one hole targeting a 450 metre
long VLF anomaly (1984 survey), and three holes targeting IP anomalies defined
from IP and Magnetic Surveys completed in March 2011 by Quantec Geoscience.
Highlights of the results include:
- LME11-013 - 3.10 g/t Au, 27.5 g/t Ag, 0.38% Cu and 5.63% Zn over 3.10
metres
Including 0.80 g/t Au, 10.40 Ag, 77.1 g/t Ag, 0.83% Cu and 14.30% Zn over
0.80 metres on the Ahki Zone.
- LME11-017 - 0.10 g/t Au, 10.1 g/t Ag, 0.11% Cu and 2.85% Zn over 5.85
metres
Including 0.05 g/t Au, 14.9 g/t Ag,0.21% Cu and 9.79% Zn over 1.30 metres
on the extension to the Tehya Zone.
DRILL RESULTS
1984 VLF target
Drill hole LME11-011 targeted a strong VLF anomaly outlined in a 1984 survey
done by Phoenix Exploration Ltd. The targeted zone was intersected 68 metres
downhole (50 metres vertically below surface) and consisted of a 9.2 metre thick
zone of highly silicified and altered intermediate volcanics at the contact with
diorite porphyry. Assays included:
----------------------------------------------------------------------------
Hole From To Interval Au g/t Ag g/t Cu % Zn %
----------------------------------------------------------------------------
LME11-011 68.00 77.20 9.20 0.23 2.5 0.08 0.47
----------------------------------------------------------------------------
LME11-011 Including 68.00 70.45 2.45 0.55 4.0 0.08 1.25
----------------------------------------------------------------------------
Laurion believes this horizon is prospective for precious metal rich VMS
mineralization, and the company intends to carry out follow-up drilling along
the 450 metre strike length of the anomaly and to also drill the zone down dip.
Ahki Zone drilling
Two holes were drilled 25 metres apart to test a surface exposure of the Ahki
zone. This zone is represented by a Au/Zn/Cu/Ag vein up to 1.5 metres wide on
surface. Drill hole LME11-012 tested the zone 20 metres vertically below the
surface mineralization, and hole LME11-013 tested the zone 25 metres along
strike to the northeast of LME11-012 and 15 metres vertically below surface.
Both holes intersected the zone with the following results:
----------------------------------------------------------------------------
Hole From To Interval Au g/t Ag g/t Cu % Zn %
----------------------------------------------------------------------------
LME11-012 20.50 27.00 6.50 0.09 1.0 0.02 0.74
----------------------------------------------------------------------------
LME11-012 Including 26.50 27.00 0.50 0.76 4.3 0.05 7.90
----------------------------------------------------------------------------
LME11-013 19.25 22.35 3.10 3.22 27.5 0.38 5.63
----------------------------------------------------------------------------
LME11-013 Including 19.25 20.05 0.80 10.40 77.1 0.83 14.30
----------------------------------------------------------------------------
This zone remains open along down dip and along strike, particularly to the
south where the Ahki Zone intersects the VLF Target Zone noted above. Laurion is
very encouraged by the high grade potential of this mineralization.
IP Targets
Three IP targets were defined by GeoVector Management and each was targeted with
a single drill hole (LME11-014 to 016 respectively). All these holes intersected
extensive zones of disseminated and stringer style zinc mineralization
(sphalerite) and associated low grade gold and silver and occasional copper
mineralization. The zones were contained within a package of felsic to
intermediate fragmental volcanics. The best results include:
---------------------------------------------------------------------------
Hole From To Interval Au g/t Ag g/t Cu % Zn %
---------------------------------------------------------------------------
LME11-014 29.50 30.00 0.50 0.12 3.5 0.06 7.94
---------------------------------------------------------------------------
LME11-014 134.00 134.50 0.50 0.25 8.4 0.28 2.91
---------------------------------------------------------------------------
LME11-015 82.75 83.35 0.80 0.45 3.3 0.05 2.03
---------------------------------------------------------------------------
LME11-015 93.90 96.25 2.35 0.94 3.3 0.07 0.48
---------------------------------------------------------------------------
LME11-016 57.90 58.40 0.50 0.15 12.9 0.01 4.52
---------------------------------------------------------------------------
LME11-016 58.40 59.40 1.00 0.91 2.8 0.02 0.52
---------------------------------------------------------------------------
These drill holes were Laurion's first test of a 3.5 kilometre zone of
alteration and mineralization defined by prospecting and geophysics and
extending southwest toward the Asha Zone. Laurion believes this horizon is
prospective for precious metal rich VMS mineralization, and the company intends
to carry out follow-up drilling along its entire strike length and down dip on
the mineralized intersections.
Tehya Extension
IP and magnetic survey results indicated an anomalous trend extending northeast
from the Tehya Zone which was drilled in 2010 (0.94% Cu, 3.91% Zn, 27.80 g/t Ag
and 0.45 g/t Au over 4.08 m in drill hole LME10-07). A hole was spotted
approximately 600 metres along strike of the Tehya (LME11-017), and this "Tehya
Extension" hole was the final one drilled before the spring break-up ended the
drill program. The targeted zone was intersected approximately 30 metres
vertically below surface and results include:
----------------------------------------------------------------------------
Hole From To Interval Au g/t Ag g/t Cu % Zn %
----------------------------------------------------------------------------
LME11-017 38.00 43.85 5.85 0.10 10.1 0.11 2.85
----------------------------------------------------------------------------
LME11-017 Including 39.65 40.95 1.30 0.05 14.9 0.21 9.79
----------------------------------------------------------------------------
Laurion is encouraged by the potential of at least 600 metres of strike length
on the Tehya Zone between holes LME10-07 and LME11-017. This target has not been
drilled more than 30 metres vertically below surface and remains open down dip
and along strike southwest of LME11-07 towards an IP anomaly defined by the
Quantec survey near the Asha Zone. The zone is also open to the northeast beyond
drill hole LME11-017. This zone will be a priority target in the next drill
campaign.
The drilling was carried out by Cobra Drilling and was managed by GeoVector
Management Inc. The program was designed to include several more holes but these
were not completed due to spring break-up conditions. Once ground conditions
stabilize, it is planned to drill these holes and to add follow-up holes on
favourable mineralization intersected in the April drill program. The current
drill intersections into the mineralized zones have generally only been tested
30-50 metres below surface, and the strike and dip extensions have not yet been
tested.
The follow-up drill program will also include drilling of targets on the South
West Grid (Asha Zone 2010 grab sample of 9.87 g/t Au, 136 g/t Ag) where IP and
magnetic survey results have been received and several more targets have been
defined, and extensions of gold, silver and zinc mineralization on the Tala Zone
(2010 grab sample of 124 g/t Au, 79 g/t Ag).
Drill holes reported here were designed to intersect the mineralized horizons as
close to normal to strike and dip as possible. All holes intersected the
mineralized zones at 60-70 degrees to core axis, and true widths are interpreted
to be 80-90% of drill intersection widths.
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 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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