Issued and Outstanding 35,995,776 Common Shares
TORONTO, Oct. 25 /CNW/ -
- Commencement of Phase 3 Exploration Program - Enid-Massey Project.
- Five drill holes are planned to test 3 strong airborne conductors on
the Côté-Bihar Grid, considered a favourable area for Ni-Cu-PGE
- Four diamond drill holes are planned for the Argos and ZED'or Grids.
Previous drilling on Argos intersected narrow sections of mainly
disseminated to massive pyrrhotite mineralization.
- The Enid-Massey contains many as yet untested airborne conductors
showing potential for VMS, Cu-Ni-PGE, and, possibly Au mineralization.
- Four volcanogenic copper-zinc+/-silver+/-gold deposits, including the
Kam-Kotia Mine have been mined from rocks of the KVC.
- The Xstrata Montcalm Nickel Mine is located 20 kilometres west of the
Enid-Massey and is a similar geological environment to the Laurion
Toronto, ON - October 25, 2007 - Laurion Mineral Exploration Inc. (TSXV:
LME) ("Laurion") is pleased to announce the commencement of its Phase Three
exploration program which will comprise of 9 holes totalling 1,300 metres on
the Côté-Bihar, Argos and ZED'or Grids.
Five drill holes are planned to test 3 strong airborne conductors on the
Côté-Bihar Grid ("Côté-Bihar"). The Cste-Bihar is considered a favourable area
for Ni-Cu-PGE sulphide deposition as the conductors appear to occur on the
cross-faulted northern contact of the Kamiskotia Gabbroic Complex ("KGC") with
mafic volcanic rocks. A property visit in September located C9 which is a
strong conductor caused by a surface showing of apparent steeply dipping zone
of semi to massive pyrrhotite in an altered mafic intrusive.
The northern claims of the Côté Township ("Côté") were originally staked
to cover east-west trending trains of strong airborne EM anomalies which
occurred in the south central part of the Côté. These conductors are hosted by
rocks of the Kamiskotia Volcanic Complex ("KVC") and may be stratigraphically
equivalent to the VMS deposits of the Kamiskotia area. These conductors are
yet to be explored.
The Corporation recently acquired the 11 leased mining claims in the Côté
Township which host the Côté-Bihar conductors in a geologic environment
resembling that of Xstrata's Montcalm Nickel Mine (see press release 25
Argos and ZED'or Grid
Four diamond drill holes are planned for the Argos and ZED'or Grids
("Argos" and "ZED'or"). The Argos and ZED'or are located in Massey Township in
the southeast section of the Enid-Massey Property. Geophysical surveys have
been completed over both the Argos and ZED'or Grids. The objective of the
grids was to outline anomalous zones potentially containing economic
concentrations of Ni-Cu-PGE and/or VMS Cu-Zn-Au-Ag mineralization. All of the
grids cover conductive trends interpreted from an AeroTEM II combined
electromagnetic and magnetic survey completed by Laurion over the entire
property in early 2006.
Some of the targets on the Argos grids were drilled in December 2006.
Both the Argos West and East Grids outlined weak to strong conductive trends
associated with MAG highs and coincident with the known airborne anomalies.
The drill holes mainly intersected narrow sections of mainly disseminated to
massive pyrrhotite mineralization generally within mafic tuffs along a large
regional contact with felsic tuffs, confirming strong sulphide mineralization
in a potential VMS environment. Strongly anomalous Zn values were observed in
the one hole drilled on the Argos East Grid. The planned drilling will test a
discrete conductor near the mafic/felsic volcanic contact.
The ZED'or Grid has not been previously drilled. Two drill holes planned
on the ZED'or are designed to an east west trending magnetic anomaly
coincident with moderate to strong airborne anomalies.
About the Enid-Massey Project
Laurion's 100% owned Enid-Massey Project covers approximately 100.83
km(2) (623 claim units), and is located approximately 40 km west north west of
Timmins, Ontario. This area contains many as yet untested airborne conductors
showing potential for VMS, Cu-Ni-PGE, and, possibly Au mineralization and
hosts numerous gossanous outcrops located peripherally to airborne conductor
On January 22nd 2007 the Corporation announced a new discovery of VMS
Style Cu-Zn Mineralization on the Santrap Grid. The Corporation plans to
continue to systematically explore this potential with state-of-the-art
Regional geology is reported to belong to the KVC. The KVC is intruded by
a large layered tholeiitic intrusion known as the Kamiskotia Gabbroic Complex
("KGC"). Much of the Enid-Massey property is underlain by the northern portion
of the KGC. Four volcanogenic copper-zinc+/-silver+/-gold deposits, including
the Kam-Kotia Mine have been mined from rocks of the KVC.
The Xstrata Montcalm Nickel Mine is located 20 kilometres west of the
Enid-Massey and is a similar geological environment to the Laurion Enid-Massey
About Caracle Creek International Consulting Inc.
Caracle Creek International Consulting Inc. ("CCIC") is an independent
consulting firm that has been retained as Project Managers for the Enid-Massey
Project. CCIC under the directorship of Scott Jobin-Bevans, is a professional
geological consulting company based in Sudbury that provides a wide range of
geological and engineering services to the mineral exploration and mining
Laurion Mineral Exploration Inc. is an early stage exploration specialist
company with projects in Ontario. Laurion's exploration horizons encompass not
only gold, but also base metals and PGE's.
This document may contain or refer to forward-looking information based
on current expectations. Forward-looking statements are subject to significant
risks and uncertainties, and other factors that could cause actual results to
differ materially from expected results. These forward-looking statements are
made as of the date hereof and we assume no responsibility to update or revise
them to reflect new events or circumstances.
The TSX Venture Exchange has neither approved nor disapproved the
information contained herein and 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 - www.chfir.com: Barry Leung - Broker
Relations Account Manager, email@example.com, Tel: (416) 868-1079 ext.247;
Michael Borovec - Assoc. Account Manager, firstname.lastname@example.org, Tel: (416)