Laurion Set to Begin Additional Drilling and Exploration Programs at Sturgeon River
October 05 2010 - 9:00AM
Marketwired Canada
Laurion Mineral Exploration Inc. (TSX VENTURE:LME)(OTCBB:LMEFF) ("Laurion") is
pleased to provide a detailed update on the Company's exploration and drilling
programs on the Sturgeon River Property in Beardmore, Ontario.
In mid-October, Laurion plans to launch a comprehensive follow-on exploration
program at Sturgeon River, including more than 4,000 metres of diamond drilling,
ground geophysics, and mapping, stripping, washing, and channel sampling. An
outline of recent results and anticipated exploration programs from each of the
targeted zones is outlined below.
Highlights of Recent Results and Drilling and Exploration Program Outline
1. Tehya Zone
----------------------------------------------------------------------------
Width Copper Zinc Silver Gold
Hole From To (m) (%) (%) (g/t) (g/t)
----------------------------------------------------------------------------
LME10-06 31.50 m 32.16 m 0.66 0.70 0.72 19.40 0.25
----------------------------------------------------------------------------
LME10-07 35.50 m 39.58 m 4.08 0.94 3.91 27.80 0.45
----------------------------------------------------------------------------
including 36.33 m 37.45 m 1.12 2.11 10.40 60.50 1.34
----------------------------------------------------------------------------
Surface Sampling 2008 0.90 18.55 62.11 0.21
----------------------------------------------------------------------------
Surface Sampling 2010 1.40 6.13 45.6 0.63
----------------------------------------------------------------------------
Based on core angle indicators the true thicknesses of the mineralized zones in
the 2010 drilling are estimated to be 85-95% of drill hole intersection widths.
The Tehya Zone, which is located 1 kilometre northeast of the Sturgeon River
Mine and may be a gold rich volcanic massive sulphide ("VMS") zone, is a high
priority exploration target. Approximately 30 metres southwest and possibly on
strike with a surface exposure of the Tehya zone, a quartz vein (A-11 vein) was
sampled and returned 57.2 g/t gold and 21.1 g/t silver. To determine the
structural relationship of these mineralized zones, Laurion recently stripped
and washed a 10 metre wide by 70 metre long area of the Tehya Zone, which will
be mapped and channel sampled in order to help design future ground geophysics
programs. The copper-zinc-silver-gold intersection for drill hole LME10-07 is
approximately 50 metres southwest along strike and 30 metres down dip of the
Tehya surface showing, suggesting a southwest plunge to the zone. A diamond
drill program of 2 to 4 holes will be completed in January 2011 to determine the
strike length and plunge of the Tehya zone.
2. Sturgeon River Mine
--------------------------------------------------------------------------
No. 3 Width No. 3b
Sampling Vein (quartz vein) Vein
--------------------------------------------------------------------------
Surface Sampling May 2010 95 g/t gold 0.30 m
--------------------------------------------------------------------------
Surface Sampling May 2010 51.6 g/t gold 0.30 m
--------------------------------------------------------------------------
Surface Sampling June 34.6 g/t gold 25.3 g/t gold
2010
(165m south of shaft)
--------------------------------------------------------------------------
These sample results from vein No. 3 and 3b highlight the high grade and lateral
extent of the Sturgeon River Mine vein systems. Historically, this mine produced
73,322 oz of gold from 1936 to 1942 from 145,183 tons grading 17.3 g/t gold
(manually upgraded from a mined grade of 10.3 g/t). The following estimates of
resources and reserves do not conform to the current National Instrument 43-101
standards, and should not be relied upon.
A historical 1942 ore reserve estimate (non 43-101 compliant) was made prior to
the closing of the mine. The reserve material was blocked out by underground
drifting and raising down to the 530 metre level. At that time, it was
calculated that Sturgeon River contained 130,680 tons with an average grade of
10.45 g/t gold. In addition to this historical reserve estimate, a 1986 report
estimated that 400,000 tons of ore at 5.2 g/t was contained between the lowest
mine development on the 530 metre level and the bottom of the shaft at the 640
metre level. Below the 640 metre level, the zone has been untested. The
underground mine exploration work indicated that the main zone (No. 3 vein) and
development of multiple veins intersecting the No. 3 vein (No.10, 11 and M
veins) in the lower mine levels was increasing the shoot strike length and
presenting multiple intersecting veins, resulting in wider mineralized zones at
depth.
A drill program of approximately 2,800 metres consisting across 6 deep holes is
expected to begin in October 2010. The program will test the down plunge extent
of the Sturgeon River Mine below the 530 metre level, the purpose of which is to
acquire sufficient information to complete a National Instrument 43-101
compliant ore resource report. A recently completed 3D model of the mine
workings will be used to target this drilling.
3. Tala Zone
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Gold (g/t) Silver (g/t) Zinc (%)
---------------------------------------
124 79
---------------------------------------
24
---------------------------------------
6.1 85
---------------------------------------
5.72 22
---------------------------------------
3.45
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2.52
---------------------------------------
0.40 1.05
---------------------------------------
10 samples graded between 0.5 g/t and 2
g/t gold
---------------------------------------
The Tala Zone is a high priority area for shear hosted gold and base metals, is
located west of the Sturgeon River Mine, and appears to trend from Kodiak's
Brenbar Property eastward onto the Sturgeon River Property. A program of ground
geophysics is planned over the east-northeast trend which extends more than
1,000 meters in strike length. A diamond drill program is planned for January
2011.
4. Asha Zone
---------------------------------------
Gold (g/t) Silver (g/t) Zinc (%)
---------------------------------------
9.87 136
---------------------------------------
8.04 59
---------------------------------------
3.71 9
---------------------------------------
2.49
---------------------------------------
2.04
---------------------------------------
1.51
---------------------------------------
10 more samples graded between 0.5 g/t
and 2 g/t gold
---------------------------------------
The Asha Zone is a priority target for shear hosted gold and possible gold rich
VMS style deposits and is located south of the Sturgeon River Mine area. A
program of ground geophysics (IP and magnetic) is planned over the
east-northeast trend which extends more than 800 metres in strike length, and
will also test a historical 800 metre long overburden covered VLF-EM anomaly
that occurs parallel to the Asha shear and has never been tested. A follow-up
diamond drill program is planned for January 2011.
5. The Ahki Zone
----------------------------------------------------------------------
Strike
Width Copper Zinc Silver Gold length
(m) (%) (%) (g/t) (g/t) (m)
----------------------------------------------------------------------
1984 Report A6 vein 0.76 8.23 41
----------------------------------------------------------------------
1984 Report A4 vein 0.98 6.17
----------------------------------------------------------------------
Sampling
2010 A6 vein 0.37 4.69 8.6 4.08
----------------------------------------------------------------------
The Ahki zone is a high priority target for a VMS deposit with high grade gold
potential and is located approximately 1.5 kilometres northeast of the Sturgeon
River Mine. The Ahki zone is composed of a series of veins (A4 and A6) which are
exposed over a strike length of approximately 75 metres. These veins extend from
a historical VLF EM anomaly with a 450 metre strike length to the south of the
A6 vein, and this anomaly has an extensive down ice dispersion zinc in soils
(1970 survey) anomaly. The zinc and copper in the A-6 vein are thought to be a
possible introduction from the vein passing through a VMS deposit. A program of
ground geophysics (IP and magnetic) is planned over this Ahki zone with a
follow-up program of 4-5 holes of diamond drilling on promising targets.
6. Other Targets
There are more than 60 named quartz veins across the Sturgeon Property which
have all been shown in historical channel sampling to be gold bearing and have
the potential for high grade gold values. As an example, Laurion intersected
0.36 metres of 20.7 g/t gold in drill hole LME10-01 completed in June of 2010.
In several cases, these veins form sets of relatively closely spaced
sub-parallel vein packages. Drilling by Placer Dome in 1988 targeted several of
these veins and returned several anomalous intersections including 18.17 g/t
gold over 0.61 metres on the 85A-2 vein. Of interest to Laurion are areas of
more extensive sampling showing wider lower grade mineralized zones, including
4.05 metres of 1.15 g/t gold in the A-3 area. These zones of mineralization were
associated with quartz flooding and shearing in rhyolitic porphyries with
visible zinc mineralization and at the contact of rhyolites with felsic
intrusives. This mineralizing style may be indicative of a larger lower grade
deposit type on the property. Additionally basal till sampling in 1984 revealed
an area of gold anomalism (up to 1 g/t gold) located approximately 300 meters
north of the Sturgeon Mine area. This anomaly has never been tested. Follow up
drilling and exploration programs are planned on these target types in 2011.
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 is an exploration company with key interests in prospective mining
properties located in Ontario and Nevada. Laurion's primary exploration focus is
the identification of gold deposits; its exploration horizon also encompasses
base metals and PGEs.
This news release includes certain forward-looking statements concerning the
future performance of Laurion's business, operations and financial performance
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, as described in more detail in our
recent securities filings available at www.sedar.com. 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.
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