TORONTO, Sept. 14, 2011 /CNW/ - Laurion Mineral Exploration Inc. (TSX-V: LME) (OTCQX: LMEFF) ("Laurion") is pleased to announce the receipt of an initiating report issued by
Fundamental Research Corp. The update and the full report are
available on the Company's website www.laurion.ca.
The Fundamental Research Report is entitled "Initiating Coverage -
Expanding gold resource through exploration and development" and dated
13 September, 2011. The full report is now at www.researchfrc.com.
Fundamental Research stated, "Both flagship properties include several aspects, which we believe will
positively influence development."
Laurion Mineral Exploration Highlights
Laurion Mineral Exploration Inc. is an advanced stage exploration
company, with aims to become a short to medium term gold producer with
a primary focus on gold and secondary interest in base metals.
Laurion holds a 100% interest in two principal properties: the Bell
Mountain Project, Nevada, USA and the Sturgeon River Project, Ontario,
The Bell Mountain property, located in the Fairview Mining District,
Churchill County Nevada, is approximately 95 miles southeast of Reno.
The Bell Mountain project currently has a NI 43-101 measured and
indicated resource estimate of 9,761,000 tonnes of material at an
average grade of 0.526 g/t Au and 17.63 g/t Ag, hosting 165,018 oz gold
and 5,533,907 oz silver, and initial Inferred Mineral Resource estimate
of 2,046,000 tonnes of material at an average grade of 0.449 g/t gold
and 13.26 g/t silver hosting 29,550 ounces gold and 872,411 ounces
silver. This Mineral Resource Estimate assumed a gold price of
$1,149.89 per ounce and a silver price of $20.92 per ounce. Preliminary
estimates for operating costs were $11.43 per ton (mining, processing
and G&A) and for recoveries were 80% for gold and 51% for silver.
Potential exists for further resource growth on the Bell Mountain
Property. Currently, work towards completing the environmental
permitting requirements are in progress for the development of baseline
needs and mine plan of operations scheduled in 2013, contemplating a
conventional open pit and heap leach configuration. A Preliminary
Economic Assessment Report is also in progress and is scheduled to be
completed in Q4-2011.
The Sturgeon River Mine Property has a total land package of 4,922
hectares, and is located in Ontario, Canada in the Geraldton-Beardmore
Gold Camp, 120 kilometers northeast of Thunder Bay. Mineralization at
the Sturgeon River Property occurs as shear zone hosted lode gold and
volcanogenic massive sulphide mineralization (VMS). The shear zone
hosted lode gold has been the primary target of exploration on the
property. Exploration to date has identified over 120 high grade veins
as well as several new discovery zones with a high potential for gold
rich and base metal bearing VMS hosted deposits defined in a number of
zones (such as the Tehya, Asha, Tala, Ahki and Loki zones). All holes
drilled in the recent drill programs have encountered Au, Ag, Cu and Zn
Through a combination of focussed drilling on delineated several shear
zones and sub-parallel structures with the potential to host gold VMS
horizons, Laurion has a strong potential for defining a significant,
mineable reserve at the Sturgeon River Property.
The Corporation envisages the realization of shareholder value and
wealth through monetization of its discoveries and assets.
About Fundamental Research:
Since 2003, Fundamental Research Corp has been providing the highest
institutional quality equity research coverage on small and micro-cap
companies through their extensive distribution network. In 2009, they
also started issuing reports on exempt market securities. In 2010,
their Top Picks earned them the #3 highest ranked analyst firm with a
return of 20.75%, and #1 in the Basic Materials Sector (which includes
mining) with a return of 29.07% on third party ranking systems that
tracks analysts globally. Their goal from the beginning was to provide
high quality research to a broad audience, while adhering to high
ethical standards and a strong foundation of integrity.
Neither TSX Venture Exchange nor its Regulation Services Provider (as
that term is defined in the policies of the TSX Venture Exchange)
accepts responsibility for the adequacy or accuracy of this release.
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. Such statements include, but are
not limited to, statements concerning Laurion's acquisition of the
property from Jubilee Gold as described above. 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.
SOURCE Laurion Mineral Exploration Inc.
For further information:
Laurion Mineral Exploration Inc.
Cynthia Le Sueur-Aquin - President & CEO