Laurion Provides Optimistic Exploration and Corporate Outlook
2012年6月13日 - 5:23PM
PR Newswire (Canada)
TORONTO, June 14, 2012 /CNW/ - Laurion Mineral Exploration Inc. and
(OTCQX: LMEFF) ("Laurion" or the "Corporation"). Current global
market conditions have had an increasing impact on intrinsic value
and survivability in the junior exploration and development sector.
The mining industry bottoming in early 2009 was the motivator in
shifting Corporations' strategic focus to morph from exploration to
nearer term production and cash flow generation, with the positive
acquisition of the Bell Mountain project in Nevada. Since 2010, the
Corporation's Ontario project, the Sturgeon River has continued to
deliver excellent news with gold and base metal discoveries through
comprehensive field and sampling programs, positive drilling
results and strategic acquisitions resulting in the delineation of
a kilometre wide corridor hosting multiple precious metal rich VMS
("Volcanic Massive Sulphide") horizons with a combined strike
length of 6,000 metres. Cynthia Le Sueur-Aquin, President of
Laurion reported that, "The Sturgeon River property is an exciting
project that continues to surprise and generate good news. We are
optimistic that our field work and drilling programs on the
Sturgeon River property being executed this summer, will uncover
additional discoveries with growth potential in the area of our VMS
target. Our Bell Mountain property in Nevada may have the potential
to be an economical operation in the near future. Present market
conditions and the drive to preserve cash have impacted the
Corporation's capacity to develop the Bell Mountain project under
an appropriate time line, indicative by new sector lows further
impacting an unjustifiably low share price, thus making future
raising of exploration and development funds extremely difficult
and dilutive. The tough economic realities and general negative
reaction of investors to any news emanating from the exploration
and development sector are forcing companies to mark time on their
projects and eliminate the risk of possible good news generation,
which has been evidenced by investors recouping past losses off the
backs of exciting news, thus placing downward pressure on share
prices and undermining potential shareholder value and
investments." Since acquisition of the Bell Mountain property in
2010, Laurion has completed a NI 43-101 Technical Report, a 56 hole
drill program, metallurgical testwork, baseline studies for the
Environmental Assessment ("EA") permit and the initial pit cone
analysis which is the first stage of the Preliminary Economic
Report ("PEA"). The Corporation raised aggregate gross proceeds of
$464,224 in a flow-through private placement in December 2011, and
through diligent field and exploration work on the Sturgeon River
project, has outlined two main target types which include: (i) high
grade lode gold style quartz veins within larger highly altered
shear zones; and extensive precious metal polymetallic VMS deposits
associated with felsic and intermediate fragmental volcanics. The
Sturgeon River Mine quartz vein system is associated with very
strong northeast trending structures, which are host to massive to
semi-massive sulphides which occur on multiple horizons within a
kilometre wide corridor. In the last year, Laurion identified this
kilometre wide corridor as having the potential to host a precious
metal rich VMS deposit. Approximately 245 diamond drill holes
totalling 35,159 metres has been completed on the Sturgeon River
Property to date, with most of these drill holes testing down dip
of surface mineralization of 3 precious metal rich VMS trends,
intersecting the zones to a depth of approximately 100m below
surface. Laurion has developed a Target Deposit of 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, which suggests a combined
strike length of 6,000 metres for the 3 zones of sulphides. Note:
The potential quantity and grade of the Target Deposit 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.
The summer exploration program consists of field checking of
historical trenching and drill collars to enable accurate placement
of the locations of the 1988, 1990, and 1992 drill holes carried
out on the "A"-Zone on the Loki trend. Based on this positional
work, the current drill program is the first phase of a number of
drill programs which will comprise of twinning, infill and
extensional exploration drilling, with the goal of bringing the
Loki trend to a NI 43-101 compliant resource estimate. It is
expected that this drill program and the associated field work and
data collection may take approximately 6 to 8 months to complete.
The above work will be followed with grid drilling along the
Tehya-Ahki trend with sufficient drill spacing to allow this area
to advance to NI 43-101 resource estimation. It is expected that
this work on the Tehya-Ahki trend will take 12-18 months to
complete. The success and continuation of the above exploration and
development programs is contingent on the Corporation's ability to
raise adequate funding with consideration to dilution given current
market conditions. 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. 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." Neither the TSX
Venture Exchange 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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