TORONTO, June 12, 2013 /CNW/ - Laurion Mineral Exploration Inc. ("Laurion" or the "Company") (TSX-V: LME) and (OTCQX: LMEFF) is pleased to report that it has
filed a National Instrument 43-101 ("NI 43-101") compliant technical
report related to its press release issued on April 23, 2013. The
Technical Report is available under the Company's profile on SEDAR at www.sedar.com and on the Company's website at www.laurion.ca.
Laurion's consultants GeoVector Management Inc. ("GeoVector") have prepared NI 43-101 Indicated resource estimates for the Ishkoday
Property, located approximately 28km northeast of Beardmore, Ontario.
The resource estimates are for the low grade stockpile accumulated
during mining operations of the old Sturgeon River Gold mine on the
Ishkoday property from 1936 to 1942, and for the low grade tailings
area associated with the processing of ore feed from the mine.
The resource estimates are as follows:
144,070 tonnes grading 1.59 g/t gold for 7,383 contained ounces of gold in the Indicated mineral resource category for
the for the low grade stockpile.
137,501 tonnes grading 0.67 g/t gold for 2,944 contained ounces of gold in the Indicated mineral resource category for
the tailings area.
The totals for both the tailings area the low grade stockpile are
281,571 tonnes grading 1.14 g/t gold for 10,327 contained ounces of gold.
About the Ishkoday Project
The Ishkoday Property has a historical production of 73,322 ounces of gold and 15,929 ounces of silver from 145,123 tons taken primarily from No. 3 Vein during 1936 to 1942, but also from
the No. 10 Vein and the M Vein that were encountered at the lower
depths of the mine in the later years of mine life. During mine life
the mine development material was hand sorted at surface and stockpiled
next to the mine shaft and mill locations. The higher grade quartz
veins were milled with tailings placed in a natural depression next to
the mill site. Both the low grade stockpile and tailings areas have
been largely undisturbed since the mine closed during World War II due
to manpower shortages.
Joe Campbell, B.Sc. P. Geo., a director of Laurion Mineral Exploration
Inc., is the Qualified Person, as defined by NI 43-101, for the
Ishkoday Project and has reviewed the technical information in this
release. The Indicated mineral resource estimate has been prepared in
compliance with the standards of NI 43-101 by Dr. A. Armitage; P. Geo.
Mr. Armitage is independent of the Corporation under NI 43-101.
About Laurion Mineral Exploration Inc.
Laurion Mineral Exploration Inc. is a junior mining company focusing on
the upside of its 100%-owned Ishkoday property, a high impact project
with a primary focus on gold and 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 Company's current focus is on resource
development at Ishkoday, located in Beardmore, Ontario, approximately
220km 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