Fundamental Research Initiates Coverage on Laurion Mineral Exploration Inc. - Expanding Gold Resource through Exploration and...
2011年9月14日 - 11:00PM
PR Newswire (Canada)
TORONTO, Sept. 14, 2011 /CNW/ -- TORONTO, Sept. 14, 2011 /CNW/ -
Laurion Mineral Exploration Inc. (TSX-V: LME) (OTCQX: LMEFF)
("Laurion") is pleased to announce the receipt of an initiating
report issued by Fundamental Research Corp. The update and
the full report are available on the Company's website
www.laurion.ca. The Fundamental Research Report is entitled
"Initiating Coverage - Expanding gold resource through exploration
and development" and dated 13 September, 2011. The full report is
now at www.researchfrc.com. Fundamental Research stated, "Both
flagship properties include several aspects, which we believe will
positively influence development." Laurion Mineral Exploration
Highlights Laurion Mineral Exploration Inc. is an advanced stage
exploration company, with aims to become a short to medium term
gold producer with a primary focus on gold and secondary interest
in base metals. Laurion holds a 100% interest in two principal
properties: the Bell Mountain Project, Nevada, USA and the Sturgeon
River Project, Ontario, Canada. The Bell Mountain property, located
in the Fairview Mining District, Churchill County Nevada, is
approximately 95 miles southeast of Reno. The Bell Mountain project
currently has a NI 43-101 measured and indicated resource estimate
of 9,761,000 tonnes of material at an average grade of 0.526 g/t Au
and 17.63 g/t Ag, hosting 165,018 oz gold and 5,533,907 oz silver,
and initial Inferred Mineral Resource estimate 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. This
Mineral Resource Estimate assumed a gold price of $1,149.89 per
ounce and a silver price of $20.92 per ounce. Preliminary estimates
for operating costs were $11.43 per ton (mining, processing and
G&A) and for recoveries were 80% for gold and 51% for silver.
Potential exists for further resource growth on the Bell Mountain
Property. Currently, work towards completing the environmental
permitting requirements are in progress for the development of
baseline needs and mine plan of operations scheduled in 2013,
contemplating a conventional open pit and heap leach configuration.
A Preliminary Economic Assessment Report is also in progress and is
scheduled to be completed in Q4-2011. The Sturgeon River Mine
Property has a total land package of 4,922 hectares, and is located
in Ontario, Canada in the Geraldton-Beardmore Gold Camp, 120
kilometers northeast of Thunder Bay. Mineralization at the
Sturgeon River Property occurs as shear zone hosted lode gold and
volcanogenic massive sulphide mineralization (VMS). The shear zone
hosted lode gold has been the primary target of exploration on the
property. Exploration to date has identified over 120 high grade
veins as well as several new discovery zones with a high potential
for gold rich and base metal bearing VMS hosted deposits defined in
a number of zones (such as the Tehya, Asha, Tala, Ahki and Loki
zones). All holes drilled in the recent drill programs have
encountered Au, Ag, Cu and Zn mineralization. Through a combination
of focussed drilling on delineated several shear zones and
sub-parallel structures with the potential to host gold VMS
horizons, Laurion has a strong potential for defining a
significant, mineable reserve at the Sturgeon River Property. The
Corporation envisages the realization of shareholder value and
wealth through monetization of its discoveries and assets. About
Fundamental Research: Since 2003, Fundamental Research Corp
has been providing the highest institutional quality equity
research coverage on small and micro-cap companies through their
extensive distribution network. In 2009, they also started
issuing reports on exempt market securities. In 2010, their
Top Picks earned them the #3 highest ranked analyst firm with a
return of 20.75%, and #1 in the Basic Materials Sector (which
includes mining) with a return of 29.07% on third party ranking
systems that tracks analysts globally. Their goal from the
beginning was to provide high quality research to a broad audience,
while adhering to high ethical standards and a strong foundation of
integrity. 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. 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
Jubilee Gold as described above. 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. To view this news release in HTML
formatting, please use the following URL:
http://www.newswire.ca/en/releases/archive/September2011/14/c3212.html
p Laurion Mineral Exploration Inc.br/ Cynthia Le Sueur-Aquin -
President & CEObr/ Tel: 1-888-212-4070br/ Tel:
1-705-788-9186br/ Fax: 1-705-788-9187br/ Website: a
href="http://www.laurion.ca"www.laurion.ca/a /p
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