TORONTO, Jan. 17, 2013 /CNW/ - Laurion Mineral
Exploration Inc. (TSX-V: LME) and (OTCQX: LMEFF)
("Laurion" or the "Corporation") is pleased to report
on progress and the successful developments of Laurion. In 2012,
Laurion attained significant progress on a number of key objectives
on the Sturgeon River property; most importantly, substantial
progress was achieved with our exploration programs, such that we
look forward with confidence to continue resource definition
drilling in 2013.
In the last 2 years, Laurion's efforts on the
Sturgeon River project have created significant value for the
Corporation, which has not been credited to the Corporation in
terms of market appreciation and share value. The Corporation
garnered $6.35 million from the
disposition of non-core assets; made strategic acquisitions on
adjacent properties to the Sturgeon River Property; and, determined
through subsequent comprehensive field work, the existence of a
collective 9,000 m strike length of three strong northeastern
structural trends, hosting precious metal rich volcanic massive
sulphides (``VMS``) mineralization within a 1 km corridor. Laurion
has identified this 1 km corridor as having the strong potential to
host a precious metal rich VMS deposit.
The 2012 summer program focussed on a 15 drill
hole program targeted on 400 m of the most northeastern end of the
A-Zone, within the 3,000 m long mineral rich Loki Trend. The drill
program revealed stacked, gold, silver and zinc rich horizons
within the A-Zone of the Loki Trend. The A-Zone of the Loki Trend
is one of 3 trends.
The 2012 Summer Program highlighted the
following key aspects:
- The drilling results of the 15-hole program achieved a 100%
drill-success rate on completion.
- Systematic drilling of the A-zone revealed a consistency within
the gold rich base metal zones of the Loki Trend, which holds great
potential for economic widths and strike extension.
- Drill testing to date has only been conducted to a total
vertical depth of approximately 100 m.
- Deeper drilling below the 100m level has shown that the grade
and mineralized widths are increasing at depth. This information
highlights the possibility of wider and richer zones.
- The Loki Zone is best described as a series of stacked gold
rich base metal zones, enveloped by a large lower grade gold and
base metal halo with a width that is approximately 80 m wide. A
good example of this is drill hole LBX12-010 which targeted the
entire known A-Zone passing through 5 high grade mineralized
horizons within a lower grade mineralized halo measuring 113 m in
width.
- Prospecting over the 9,000 m strike hosting the Tehya, Loki and
River Zones within the 1,000 m wide precious metal rich corridor,
grab samples taken returned high grade values up to 53.00 g/t
Au, 133 g/t Ag, 1.86% Cu and 27.50% Zn.
- Further prospecting in the fall 2012 discovered an outcrop
exposed at low water level in the Namewamikan River. Grab
samples taken confirmed a new mineralized zone within the River
Trend returning values of 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. The new
River Zone exposure outcrops over a
strike of approximately 30 m and a width of 4 m.
- The fall 2012 prospecting program also revealed a new showing
on the Tehya Trend called the Azurite. Grab samples taken returned
values of 12.4 g/t Ag and 13.9% Zn in one sample and 67.7 g/t
Ag, 1.29 % Cu, 4.8% Zn and 0.96 g/t Au in a second sample.
- Prospecting results returned high grade values for gold, silver
copper and zinc with minor hits for lead. This prospecting program
successfully extended and confirmed the surface footprint for
mineralization on all three major trends.
Moving Forward
This summer drill program is the first of a
series of planned drilling programs. Laurion is diligently working
towards its ultimate goal of developing a NI 43-101 mineral
resource compliant report, building on its comprehensive database
of 283 drill holes totalling 42,230 m and developing value through
building resources.
Expert Consultant Engaged
Mr. Campbell is a Professional Geologist with
over 30 years of experience in the mining industry with significant
expertise in various commodities, mine geology, project development
and mine operational experience and was invited to join the Board
of Laurion Mineral Exploration in December
2012. He has operations experience from chief geologist to
mine supervision in underground and open pit environments, and
project development roles from pre-feasibility to construction and
start-up, as senior geologist to project manager. Mr. Campbell's
project management and involvement in the Sturgeon River has been
invaluable. Laurion plans to continue working with Mr. Campbell and
GeoVector Management's associated geological and project
management's expertise, as the project continues on its track of
generating exploration successes and moving forward.
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.