Laurion Executes Purchase Agreement, Securing Kilometre Wide Precious Metal Rich Corridor with Combined Strike Lengths of 6,000
2012年4月17日 - 11:00PM
PR Newswire (Canada)
TORONTO, April 17, 2012 /CNW/ - Laurion Mineral Exploration Inc.
and (OTCQX: LMEFF) ("Laurion" or the "Corporation") issued a press
release on November 22, 2011, announcing that it had entered into a
definitive agreement with Beaurox Mines Limited ("Beaurox"), in
which the Corporation received the option to acquire up to a 100%
interest in 30 mining leases, covering an area of 447.35 hectares
(the "Beaurox Property"). Further to the November 22, 2011 press
release, Laurion is pleased to announce that it has executed a
purchase agreement ("Purchase Agreement") with Beaurox concerning
the purchase of the Beaurox Property. Pursuant to the terms and
conditions of the Purchase Agreement, and conditional upon TSX
Venture Exchange approval, Laurion will acquire all of Beaurox's
rights, title and interest in and to the Beaurox Property. Closing
of this transaction is expected to occur before the end of April,
2012, or such other date as the parties mutually agree. The Beaurox
Property is contiguous and strategic to the Corporation's
Northeastern boundary, and is located in the south western quarter
of Elmhirst Township. The Corporations' Sturgeon River property is
located 25 kilometres east of the Town of Beardmore, Ontario.
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 add substantial strike lengths to
these strongly mineralized zones. 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. Approximately 200 diamond
drill holes totalling 20,836 metres have been completed on the
combined Laurion and Beaurox Properties 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 of this drilling information into a digital database
that, in addition to 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
drilling information as well as historical drilling information
that suggests a combined strike length of 6,000 metres for three
(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 assumes 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. Please note that the potential
quantity and grade is conceptual in nature, there has been
insufficient exploration to define a mineral resource, and it is
uncertain as to whether further exploration will result in
discovery of a mineral resource. Laurion has recently completed
four holes targeting VTEM anomalies located north of the
Namewaminikan River on the Mahki zone. The anomalies are relatively
strong conductors which are buried by glacial sand deposits and
therefore, have never been prospected or drilled. 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 is a Qualified Person as defined in "National
Instrument 43-101, Standards of Disclosure for Mineral Properties."
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-V nor its Regulation
Services Provider 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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