Laurion Provides Overview of Positive Exploration and Drilling on its Sturgeon River Property
2012年1月29日 - 9:15PM
PR Newswire (Canada)
TORONTO, Jan. 31, 2012 /CNW/ - Laurion Mineral Exploration Inc. and
(OTCQX: LMEFF) ("Laurion") conducted an overview of its successful
drilling and exploration completed in the last 18 months on its
Sturgeon River property, 25 kilometres east of the Town of
Beardmore, Ontario. Two main target types have emerged from
exploration work on the Sturgeon property. These include:
i) high grade lode gold style quartz veins within larger
highly altered shear zones; and ii) extensive precious metal
polymetallic VMS deposits associated with felsic and intermediate
fragmental volcanics. A summary of results exploration on the two
target types is contained below. For details on all the exceptional
drilling and prospecting sample results, please refer to the
attached link (click here), or please refer to news releases on the
Laurion website at www.laurion.ca. Lode Gold Hosted in Quartz Veins
and Shears Sturgeon River Mine - A Significant Gold Environment The
Sturgeon River Mine produced 73,322 ounces of gold and 15,929
ounces of silver processed from 145,123 tons mined primarily from
the high grade # 3 Quartz Vein. Historical reports suggest a target
deposit of a 300,000 - 400,000 ton resource at 0.12 ozs to 0.17
ozs/ton gold (3.75 to 5.30 g/t) down to the 2,000ft (610m) level at
the Sturgeon River Mine. This resource is entirely contained within
the # 3, the M, 10 quartz vein systems over a strike length on
surface of 200m increasing to 466m in strike length on the 2100ft
level (642m depth). This increased strike length indicates a
potential for a far larger ore body at depth. During its 1936-1942
production period, the mined grade was approximately 0.30 oz/ton
(10.29 g/t) gold. All the coarse sized run of mine quartz vein
material was hand sorted for milling and upgraded to an average
grade of 0.505 oz/ton (17.31 g/t) gold. All other material,
including low grade vein shoulders and fines of high grade material
was placed on a waste rock pile. Laurion commissioned a
comprehensive program to accurately sample the 145,000 ton waste
rock pile with samples collected from excavator pits, and sampling
the 135,000 ton tailings pile area with a pattern of auger drill
holes to acquire representative values. This work will allow the
generation of 43-101 compliant resource reporting once all the
information is collated. Deep drilling was carried out between
October 2010 and January 2011 on the Sturgeon River Mine to test
the down dip extension of the # 3 vein and also targeted the 10, 11
and M quartz veins in the areas below the deepest Sturgeon Mine
workings, approximately 1,750ft (533m) deep. In this round of
drilling, a number of shear zones were intersected up-hole from the
mine workings. These zones were unknown to the previous operators,
and strengthen the potential of multiple zones of mineralization
adjacent to the traditional narrow quartz vein lodes and offering
the possibility of greater mining widths. The Sturgeon River Mine
quartz vein system is associated with typical strong northeast to
north northeast trending structures which may constitute vein
emplacement along principal and conjugate Riedel shears
respectively, within a regional scale shear system that passes
through the Sturgeon property. Based on historical ground magnetics
and a 2009 airborne magnetic survey, an intersection of these two
conjugate shear directions is interpreted at the Ahmik zone located
just north of the shaft. Historical soil sampling at the Ahmik zone
has assayed over 1.0g/t gold. The Corporation has commenced
drilling of three holes into the Ahmik zone. The Ahmik zone is
along strike north of the Sturgeon River Mine # 3 quartz vein, and
is northeast along strike from newly discovered shear zones that
were intersected in the deep drilling. The intersection of these
two zones may host a far larger gold target. The potential quantity
and grade is conceptual in nature, there has been insufficient
exploration to define a mineral resource, it is uncertain if
further exploration will result in discovery of a mineral resource.
Marge Vein A further gold zone of notable potential is the Marge
Zone, which is located approximately 700m to the north of the
Sturgeon River Mine. The Marge Zone outcrops on surface and thus is
available for quick mine development. Phoenix Gold Mines Inc.
channel sampled this vein in 1984 over a strike length of 154m
(505ft), reporting an average grade of 25 g/t (0.73 oz/ton) gold
over an average width of 0.36m (1.2ft). In 2008 Laurion stripped
and channel sampled the Marge vein for 47m (154ft) across the
exposed vein width of 1.5m (4.9ft) collecting 34 channel samples.
These samples averaged 0.49 oz/ton (16.97 g/t) gold over an average
width of 0.47m (1.54ft).There is great potential for wider zones of
mineralization, as there are 10 other veins subparallel or
obliquely crossing the Marge vein and, the adjacent host rock is
mineralized as indicated from six samples taken from the host rock
adjacent to the Marge vein which ranged up to 1.06 g/t gold. Five
holes were drilled in June 2010 over a 250m strike length of the
Marge vein and were designed to intersect an area of the vein that
had indications of high grade gold from historical trenching and
channel sampling. All holes were mineralized with drill hole
LME10-01 reporting a high grade gold intercept of 20.20 g/t over
0.36m. More than 30 other lode gold style veins have been exposed
in prospecting and trenching, with assays up to 159 g/t in grab
samples. All of these zones merit further exploration. Polymetallic
Volcanic Massive Sulphide ("VMS") Zones Potential for a Precious
Metal Rich VMS Deposit Massive to semi-massive sulphides occur on
multiple horizons within a kilometre wide corridor of sheared
volcanics that trend through the centre of the Sturgeon River
property and strike northeast onto the Jubilee and Beaurox
properties recently acquired by Laurion. In the last year Laurion
identified this corridor as having the potential to host a precious
metal rich VMS deposit, and the acquired mining leases and claims
adds substantial strike lengths to these strongly mineralized
zones. Historical drilling campaigns on the optioned ground
demonstrate that the opportunity exists to develop mineral
resources along this trend. Laurion's initial focus on the
potential for a gold-silver-zinc-copper VMS deposit centred on the
Tehya Zone which had been exposed by historical pitting. Initial
drilling on the Tehya included hole LME10-07 which reported 3.91%
zinc, 0.94% copper, 27.80 g/t silver and 0.45 g/t gold over 4.08m.
This drilling was followed up by overburden stripping that exposed
sulphide mineralization over approximately 15m of strike length
which was then mapped and channel sampled with assays of 7.44%
zinc, 0.91% copper, 30.8 g/t silver and 0.17g/t gold over 1.50m and
3.07% zinc, 0.32 % copper, 14.7g/t silver and 0.19 g/t gold over
4.05m. In addition, a zone of gold bearing quartz veining located
10m structurally above the Tehya sulphide zones was exposed for
approximately 35m with assays of 29.50g/t gold and 13.40 g/t gold
over 0.50m. Ground geophysical surveys carried out in the winter of
2011 indicated a potential strike length of greater than 800 metres
on the Tehya Zone, which was followed by further encouraging drill
hole intersections in the spring of 2011. The successful 2010 and
2011 drill programs prompted Laurion to enter into a definitive
agreement (the "Agreement") with Beaurox Mines Limited ("Beaurox"),
to acquire up to a 100% interest in 30 mining leases covering an
area of 447.35 hectares, contiguous to the Corporation's north
eastern boundary. This property is along strike from multiple VMS
style targets discovered on the Sturgeon property. Approximately
197 diamond drill holes totalling 20,836 metres have been completed
on the Beaurox property with most of these holes testing down dip
of surface mineralization and intersecting the zones to
approximately 100m below surface. Laurion is currently collating
all this drilling information into a digital database, which with
field checking of collar locations, will allow development of 3D
models of the mineralization to focus future drill programs.
Laurion developed a Target Deposit based on its own and the
historical drilling information which suggests a combined strike
length of 6,000 metres for 3 zones of sulphides. The target assumes
a minimum vertical depth of 250 metres on these zones at an average
true width of 2.5 metres, and that the trends are 30-50%
mineralized. Given these assumptions the Target Deposit size is 4.0
to 6.0 million tonnes of 1.5 to 3.0 g/t gold, 20 to 30 g/t silver,
2.5 to 3.5% zinc and 0.25 to 0.50% copper. The potential quantity
and grade is conceptual in nature, there has been insufficient
exploration to define a mineral resource, it is uncertain if
further exploration will result in discovery of a mineral resource.
Laurion has recently completed four holes on the Mahki zone
targeting VTEM anomalies on the Mahki zone located north of the
Namewaminikan River. The anomalies are relatively strong conductors
which are buried by glacial sand deposits, and therefore have never
been prospected or drilled. About Laurion Mineral Exploration Inc.
The Corporation's focus is to make the transition from explorer to
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 with key interests in prospective
mining properties located in Ontario, Canada and Nevada, USA.
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 news release. This news release includes certain
forward-looking statements concerning the future performance of
Laurion's business, operations and condition, as well as
management's objectives, strategies, beliefs and intentions.
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. 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
except as required by law. Laurion Mineral Exploration Inc.
CONTACT: Laurion Mineral Exploration Inc.Cynthia Le Sueur-Aquin -
PresidentTel: 1-888-212-4070Tel: 1-705-788-9186Fax:
1-705-788-9187Website: www.laurion.ca
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