TORONTO, May 27 /CNW/ - Laurion Mineral Exploration Inc. (TSXV: LME) ("Laurion") announced the plans for the commencement of the 2010 diamond drill and exploration program on its Sturgeon River Property (the "Sturgeon Property") located in the Irwin, Pifher, Walters and Elmhirst Townships of the Beardmore-Geraldton Gold Camp, in Ontario.
The objectives of the 2010 drill program on the Sturgeon Property are as follows:
- to intersect the Marge vein near the 2008 channel sampling area with
the target of defining a Sturgeon style deposit including, sampling to
investigate the extent and grade of host rock mineralization;
- to target dip and strike extensions of known base metal zones;
- to define the down plunge extent of the Sturgeon River Mine below the
1750ft (530m) level. The compilation of the historic workings of the
Sturgeon River Mine coupled with the new drill holes may result in
enough information to generate a National Instrument 43-101 compliant
- exposure by trenching of areas with extensive sub-parallel sets of
quartz veining with channeling across the vein sets to determine the
potential for wider, lower grade ore zones. Subsequent drilling will
follow up on promising zones of mineralization.
The Corporation is also planning to complete comprehensive sampling of the waste rock pile on the Surgeon Property and a program of hollow auger sampling to reach the basal layer of the 145,000 tons of tailings, in order to execute an economic feasibility assessment for extraction of the contained ounces of gold.
Recent grab sampling by Corporation's Consultants, GeoVector Management Inc. ("GeoVector"), of the waste rock pile on the Sturgeon Property returned a range of 0.06 g/t to 10.2 g/t gold for an average grade of 2.83 g/t gold from eight random samples and sampling from the surface of the tailings by GeoVector returned 0.68 g/t gold. The potential for higher grade gold exists at the base of the tailings where gold could have accumulated from gravity settling of the tailings.
A mapping program of the Sturgeon Property simultaneous with the planned drill program will also be completed with the goal of defining the character of felsic and intermediate volcanics (locally porphyritic and/or fragmental) with reported associated solution sediments (iron formations) that may host polymetallic precious metal style VMS deposits.
The work programs at the Quebec Sturgeon property are designed and managed by GeoVector. The technical information contained in this news release has been verified by Joseph Campbell, P. Geo., President of GeoVector, who 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. Laurion's primary exploration focus is the identification of gold deposits; its exploration horizon also encompasses base metals and PGEs.
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. 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.
SOURCE Laurion Mineral Exploration Inc.
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