TORONTO, March 26, 2013 /CNW/ - Laurion Mineral
Exploration Inc. (TSX-V: LME) and (OTCQX: LMEFF)
("Laurion" or the "Corporation") is very pleased to
announce that through collaborative participation with Animbiigoo
Zaagi'igan Anishinaabek ("AZA"), Bingwi Neyaashi
Anishinaabek ("BNA"), Biinjitiwaabik Zaaging Anishinaabek,
Rocky Bay First Nation
("BZA"), Red Sky Independent Métis First Nations and Métis
Nation of Ontario, the Sturgeon
River property was renamed the "Ishkoday" Property.
The new project name was chosen through a draw
of names submitted by the communities and means "Fire/Flint
rock"("Ishkoday Ahsin") in Ojibwe (Anishnaabe), signifying the
first techniques of mining in the area. The announcement was made
by keynote speaker and First Nations leader Ovide Mercredi,
at the Gala Event for the Grow Greenstone Expo, in Thunder Bay, Ontario on the evening of
March 25, 2013.
Cynthia Le
Sueur-Aquin, President and CEO of Laurion commented, "The
name Sturgeon River and Quebec Sturgeon River has over the years
created much confusion as to its location and is frequently
confused with a number of other "Sturgeon" named properties located
in northern Ontario. On
acquisition of the Ishkoday ("Sturgeon River
Property") in 2007, Laurion renamed many of their mineral
discoveries with aboriginal names. The name Ishkoday
celebrates the communities and their connection with their heritage
lands. Laurion extends their appreciation to all the five
communities, and in particular the Animbiigoo Zaagi'igan
Anishinaabek ("AZA") for their participation and the
proposal in the renaming of Laurion's project to Ishkoday. Laurion
looks forward to its continued realization of its exploration
successes on the Ishkoday property and prospective growth for the
area."
About the Ishkoday Property
The Ishkoday property is located 220km northeast
of Thunder Bay and 25km to the
northeast of the town of Beardmore.
Laurion is the first exploration company to
define a polymetallic environment in the Beardmore-Geraldton area.
Cynthia Le
Sueur-Aquin, President and CEO of Laurion commented, "If
our 2012 summer drill program was indicative of the Ishkoday
property's potential, then it is best described as a series of
three stacked gold rich base metal zones over a strike length of
3.0 km, enveloped by a large lower grade gold and base metal halo,
which has a width of up to 100 metres. Drilling to date has been
completed only down to the shallow depth of 100 metres. The results
to date indicate the potential for a significant deposit over the
total 9.0 km of strike length within a 1.0 km wide corridor. Added
to this, we have information from our drilling which indicates that
the grade and mineralized widths of those stacked gold rich base
metal zones are increasing at depth. This information highlights
the possibility of wider and richer zones."
To date Laurion has focused on the northwest
corner of the property, but Le
Sueur-Aquin points out that every part of the 2,500 hectare
property "has delivered positive results to date," including
a strong gold environment located on the western portion of the
Ishkoday in the area of the historic gold mine shaft.
Prospecting results carried this past summer
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.
Laurion's goal is to complete a NI 43-101
report, mostly focused on the upper part of the 3km long Loki
Trend. Drilling for the report is yet to be completed; between
3,600 and 4,200m of drilling is projected for the forthcoming
campaign.
About Laurion Mineral Exploration
Inc.
Laurion Mineral Exploration Inc. is a junior
mining company focusing on the upside of its 100%-owned Ishkoday
property, a high impact project with a primary focus on gold and
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 Ishkoday, located in Beardmore, Ontario, approximately 220km
northeast of Thunder Bay.
Neither 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.