Laurion continues to hit VMS mineralized zone at its Sturgeon River Project
Highlights includes 5.05m of 1.23 g/t Gold, 9.0 g/t Silver and 2.82% Zinc, including 1.25m of 4.24 g/t Gold, 30.6 g/t Silver and 10.52% Zinc
TORONTO, Oct. 2, 2012 /CNW/ - Laurion Mineral Exploration Inc. (TSXV: LME) and (OTCQX: LMEFF) ("Laurion" or the "Corporation") is pleased to announce the drill results of the 5th, 6th and 7th drill holes of a 15-hole drill program designed to confirm and expand the VMS mineralized northeastern end of the A-Zone of the 3 km long Loki trend. Assay results of the first four drill holes, LBX12-001 through LBX12-004 were announced on the September 18, 2012.
Cynthia Le Sueur-Aquin, President and CEO of Laurion commented, "Laurion's ultimate goal is to develop a drill database for a NI 43-101 mineral resource compliant report on the property. We are diligently developing a comprehensive inventory of detailed geological mapping and prospecting on outcropping mineralization, together with a drill database of 268 historical and current drill holes, within a mineralized corridor that is 1km wide and 3km long."
The 1km wide corridor is composed of intermediate and felsic volcanics hosting three sub-parallel zinc dominant volcanogenic massive sulphide (VMS) horizons, each up to 3km long, which are gold and silver rich with subordinate copper values. Prospecting results from the recent field program returned grab samples up to 53.00 g/t Au, 133 g/t Ag, 1.86% Cu and 27.50% Zn (see July 18, 2012 news release).
To view the map accompanying this new release showing current and historic drilling on the Loki Trend, please click on the following link: http://www.laurion.ca/i/maps/Sturgeon/AZT_CHDM.jpg
A-Zone Hole LBX12-005 targeted a trend north and parallel to the main mineralized trend and was collared 45m to the southeast of hole LBX12-003. This drill hole intersected a wide zone of anomalous gold and narrower zones within the intermediate to felsic volcanics containing discrete higher grade mineralization. Assay results are as follows:
|LBX12-005||From (m)||To (m)||Length (m)||Au g/t||Ag g/t||Cu %||Zn %|
Hole LBX12-006 targeted the A-Zone main mineralized trend and was collared 95m southeast of hole LBX12-004. It intersected multiple zones of higher grade gold-zinc mineralization. Assay results are as follows:
|LBX12-006||From (m)||To (m)||Length (m)||Au g/t||Ag g/t||Cu %||Zn %||Pb%|
Hole LBX12-007 was collared immediately next to LBX12-001, but drilled at a shallower dip to intersect the A-Zone main mineralization at dip. Hole LBX12-007 also revealed a wide zone of mineralization with multiple narrow zones of higher grade mineralization and a number of lower grade gold zones down in the silicified zone below the main horizon including 1m @ 7.38 g/t Au. Assay results are as follows:
|LBX12-007||From (m)||To (m)||Length (m)||Au g/t||Ag g/t||Cu %||Zn %|
The true thicknesses of the mineralized zones of the above holes, based on core angle indicators are estimated to be 85-95% of drill hole intersection widths.
Based on its interpretation of the drilling to date, Laurion is beginning to successfully define the volcanic stratigraphy within these zones, and to place the mineralized horizons within specific packages of altered volcanics. This will allow better focus of the next phase of drilling on the property. Drill testing of the property has so far been restricted to a total vertical depth of approximately 150m.
The drill programs continue to confirm the location, grade tenor and thicknesses of the A-Zone horizon as indicated by the historical drilling. Based on its recent work Laurion now believes it has two strong north-easterly trends of mineralization on which to carry out follow-up drilling (Tehya/Ahki and Loki/A-Zone) for developing a mineralized resource base.
All sampling from the 2012 prospecting program were 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 high impact projects 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 its 100%-owned Sturgeon River property in Beardmore, Ontario, located 120km 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.For further information:
Laurion Mineral Exploration Inc.
Cynthia Le Sueur-Aquin - President