Grab Assays 3.02% Cu and 33.2 g/t Ag; 1.42% Cu and 10.8 g/t
Ag; and 2.11% Cu and 27.9 g/t Ag
TORONTO, Nov. 28, 2012 /CNW/ - Laurion Mineral
Exploration Inc. (TSX-V: LME) and (OTCQX: LMEFF)
("Laurion" or the "Corporation") is pleased to
announce the results of grab assays from a new exposure on the
River Zone, of its 100%-owned Sturgeon River Property. The River
Zone is located on the most northerly trend of the three known
trends hosting massive to semi-massive sulphides identified within
the 3 km long by 1 km wide corridor.
The River Zone is a distinctive sheared and
mineralized volcanic stratigraphy which is reflected by the course
of the Sturgeon (Namewamikan) River which bisects the Laurion
Sturgeon River Property. The River shear zone was reported to
produce a strong VLF-EM conductor in historical exploration
reports. In the late 1950's, copper bearing mineralization was
first noted during a period of low water levels along the southern
shoreline of the Namewamikan River. Drilling in the 1990's
reported intersections of lenses of chalcopyrite and sphalerite
tested in five drill holes which were drilled on the north side of
the River. Reported drilling had intersected values ranging for
0.45% to 8.89% Cu over widths ranging from 0.305 m to 3.66
m.
Exceptionally dry weather through late summer
and early fall of 2012 allowed prospecting of bedrock exposed by
the low water level in the Namewamikan River. This confirmed the
mineralized zone which was exposed over approximately 30 m of
strike and with a width of 4 m. The zone strikes approximately 020⁰
and continues into the River to the northeast and into overburden
on the river bank to the southwest. Cursory prospecting along the
north bank led to the discovery of further copper mineralization in
limited bedrock exposure approximately 100 m northeast of the
sampled occurrence. This trend direction was previously intersected
by a drill hole 300 m to the southwest (88-22) with an intersection
of 10.37 m grading 1.22% Cu, 13.6 g/t Ag and 0.20 g/t Au on strike
with the bedrock exposure.
A total of six grab samples were taken. Results
of the Grab Samples are as follows:
Sample # |
Au
ppb |
Ag g/t |
Cu
% |
Zn
% |
1384313 |
94 |
33.2 |
3.02 |
0.43 |
1384314 |
nil |
1.0 |
0.04 |
0.11 |
1384315 |
37 |
7.2 |
0.59 |
0.07 |
1384316 |
238 |
10.8 |
1.42 |
0.03 |
1384317 |
62 |
11.0 |
0.91 |
0.03 |
1384318 |
256 |
27.9 |
2.11 |
0.36 |
Additional prospecting and mapping was carried
out in early November on a second copper showing designated the
Azurite showing. The Azurite showing appears to be along the strike
of the Tehya trend which has been drilled by five holes within an
800 m strike length. This consists of a silicified breccia zone in
an intermediate volcanic with abundant visible chalcopyrite and
copper oxides within narrow veins and fractures. It is postulated
that this may be a feeder zone to more extensive VMS ("Volcanic
Massive Sulphide") mineralization that has been previously reported
on the property. While mapping this showing, a further zone of zinc
and copper VMS style mineralization was discovered approximately 20
m north of the Azurite showing.
Two grab samples were taken of the exposure and
resulted in the following assays:
Sample # |
Au
ppb |
Ag g/t |
Cu
% |
Zn
% |
1384287 |
186 |
12.4 |
0.13 |
13.90 |
1384288 |
959 |
67.7 |
1.29 |
4.80 |
The above two samples occur on the Tehya trend
approximately 300 m northeast of a Laurion drill hole, LME11-017
which intersected 4.20 m grading 0.14 g/t Au, 12.83 g/t Ag, 0.14%
Cu and 3.79% Zn. Drill hole LME11-017 is the most northeasterly
drill hole on this trend, and this showing may extend that zone a
further 300 m along strike.
All sampling from the 2012 prospecting program
was 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 3.0 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 is a Qualified Person as defined in
"National Instrument 43-101, Standards of Disclosure for Mineral
Properties."
About Laurion Mineral Exploration
Inc.
Laurion Mineral Exploration Inc. is a junior
mining company focusing on the upside of its 100%-owned Sturgeon
River property, a high impact project with a primary focus on gold
and secondary focus in base metals.
With proven ability to develop early stage
projects and create shareholder value by monetizing its discoveries
and assets, Laurion has realized a total of $6.35 million in the last two years from
monetization of its assets. The Corporation's current focus is on
resource development at Sturgeon River, located in Beardmore, Ontario, approximately 220 km
northeast of Thunder Bay.
Neither the TSX Venture Exchange (the
"TSX-V") nor its Regulation Services Provider (as that term
is defined in the policies of the TSX-V) 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.
SOURCE Laurion Mineral Exploration Inc.