TORONTO, Feb. 19 /CNW/ - Laurion Mineral Exploration Inc. (TSXV: LME)
("Laurion") and Geoinformatics Exploration Inc. (TSXV: GXL) ("Geoinformatics")
are pleased to announce that they have contracted Geotech Ltd. of Aurora,
Ontario, to use its high definition, deep penetrating airborne geophysical
VTEM ("Versatile Time-Domain Electromagnetic") technology to fly a large
survey over Nickel-Copper-Platinum Group Element (Ni-Cu-PGE) Targets in the
Nipigon and Gowganda Areas in Ontario.
- Commencement of a 2,000 line kilometres (km.) high definition, deep
penetrating airborne geophysical survey over Ni-Cu-PGE Targets in
- 2008 exploration budget of $800,000 for the Nipigon and Gowganda areas
- Exploration program will be funded by Laurion and managed by
The airborne survey will focus on the prospective Midlothian and Raymond
Targets in the Gowganda Area, and the Fox Mountain, Graydon Lake and the
Dorothea targets in the Nipigon Area all of which were staked in a massive
11,824 hectare staking campaign completed in July 2007. The total flight lines
planned approximate 2,000 line km. at 100 metres line spacing.
The Gowganda Project
The Midlothian and Raymond targets are located approximately 33 km.
north-west of Gowganda. Both targets are well-defined high-amplitude magnetic
anomalies(1) coincident with nickel lake sediment geochemistry(2). A number of
nickel sulphide occurrences are present on Midlothian which are associated
with the serpentinized peridotite rocks or ultramafic sill.
Several targets have been identified on the Midlothian Project with the
prime target located on the northern arm of Lloyd Lake with a second east west
arm one km. to the north where strong Ni-Cu-Co values(3) coincide with high
amplitude magnetic anomalies.
The Raymond project is centered on a northerly geophysical magnetic trend
with several discrete circular anomalies with associated high Ni-Cu-Co lake
Both the Midlothian and Raymond targets are located approximately 18 km.
due east along an interpreted geological trend (along strike) from the Sothman
Nickel Deposit. The resource is now held by Xstrata.
The Nipigon Project
The Fox Mountain and the Graydon Lake targets are located approximately
45 km. north-west of Nipigon and cover circular magnetic anomalies(4) in an
area interpreted to be underlain by peridotite-gabbro intrusions and mafic
sills with strongly anomalous nickel-copper-cobalt lake sediment samples(2).
The Dorothea Project is located 16km north-west of Beardmore on the east
shore of Lake Nipigon and is centered on a pronounced low-amplitude, circular
magnetic anomaly(4). The Eva Kitto ultramafic ring complex is located 15 km to
the south of the Dorothea block which is defined by a similar magnetic
signature to that of the Dorothea block. The Eva-Kitto area is known to host
The VTEM survey is one of the leading airborne geophysical systems in use
today. The VTEM technology has the ability to potentially detect highly
conductive rock bodies such as massive sulphide deposits to greater depths
than other airborne systems. The VTEM system to be used in the current survey
has the ability to explore to depths of up to 700 metres (2,300 feet).
1. Ontario Geological Survey (2003). Ontario Airborne Geophysical
Surveys, Magnetic and Electromagnetic Data, Halliday Dome Area,
MEGATEM II Survey, Ontario Ministry of Northern Development and
Mines, Ontario Geological Survey, Geophysical Data series 1043
2. Dyer, R.D. and Russell, D.F. (2002) Lac des Iles - Black Sturgeon
River Area Lake Sediment Survey, Operation Treasure Hunt. Ontario
Ministry of Northern Development and Mines, Ontario Geological
3. Closs, L.G. (1975). Geochemical Distribution of Nickel in
Metavolcanics and mafic intrusions in parts of the Halliday and
Midlothian Townships, Districts of Sudbury and Timiskaming. Ontario
Division of Mines, Preliminary Map P0983, Geochem Series.
4. Ontario Geological Survey (2004). Ontario Airborne Geophysical
Surveys, Magnetic and Gamma-Ray spectrometer data, Lake Nipigon
Embayment Area, Ontario Ministry of Northern Development and mines,
Ontario Geological Survey, Geophysical Data Series 1047.
5. Report on Geophysical Surveys on Nipigon Plate Property of Canplats
Resources Group - Roger J. Caven (MNDM Assessment File Report
The technical content of this release is based in part on historical data
sourced from the Ontario Geological Survey and open-file Assement File Reports
(Ontario Ministry of Northern Development and Mines) as referenced above, as
well as information provided by Geotech Ltd. and has been reviewed by Darren
Holden, MAusIMM, Executive Vice President, Operations, of Geoinformatics. Mr.
Holden is a Qualified Person as defined by National Instrument 43-101.
The Laurion/GXL Strategic Alliance Area
The Laurion and Geoinformatics strategic alliance contemplates the
exploration of properties targeted by Geoinformatics in the southwest portion
of the Canadian Superior Craton that extends from Minnesota through Michigan
and Wisconsin, USA, into eastern Manitoba, southern Ontario and western
Quebec, Canada, all considered to be part of the Mid Continent Rift ("MCR")
(certain areas excluded). The MCR is a major NE-SW trending geological zone,
approximately 1,500 km. in length located in central North America, which
hosts a string of active world class Ni-Cu and/or PGE mines associated with
mafic and ultramafic rocks. The MCR is characterized by an abundance of high
potential mafic-ultramafic rocks that are often poorly exposed and have
received limited exploration. - Please see Laurion press release dated April
3, 2007 for more details.
This news release includes certain forward-looking statements concerning
the future performance of Geoinformatics' and 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 Laurion and Geoinformatics' recent securities
filings available at www.sedar.com. Actual events or results may differ
materially from those projected in the forward looking-statements and both
Geoinformatics and Laurion caution against placing undue reliance thereon.
Neither Geoinformatics, Laurion, nor their management assume any obligation to
revise or update these forward-looking statements.
The TSX Venture Exchange does not accept responsibility for the adequacy
or accuracy of this release.
For further information:
For further information: Laurion Mineral Exploration Inc.: Cynthia Le
Sueur-Aquin - President, Tel: (705) 788-9186 - Fax: (705) 788-9187 - Website:
www.laurion.ca; CHF Investor Relations: Michael Borovec - Associate Account
Manager, firstname.lastname@example.org, Tel: (416) 868-1079 x 229 - Website:
www.chfir.com; Geoinformatics Exploration Inc.: Darren Holden - Executive Vice
President, Operations, Tel: (604) 605-3073 x101, Email:
email@example.com; Dr. Nick Archibald - CEO, Tel: (416) 861-1300 x224,
Email: firstname.lastname@example.org; www.geoinformex.com