TORONTO, Oct. 18, 2012 /CNW/ - Laurion Mineral Exploration Inc. (TSXV: LME) and (OTCQX: LMEFF) ("Laurion" or the "Corporation") is pleased to announce the drill results of the 8th, 9th, 10th and 11th drill holes of a 15-hole drill program designed to confirm and expand the Volcanic Massive Sulphide ("VMS") mineralized northeastern end of the A-Zone of the Loki Trend. The A-Zone is a 1km wide by 3km long gold and silver rich corridor hosting three sub-parallel zinc dominant volcanogenic massive sulphide (VMS) horizons.
Assay results of the first drill holes, LBX12-001 through LBX12-007 were announced on the September 18, 2012 and October 2, 2012; and can be viewed at the bottom of the press release and in tabular form at http://www.laurion.ca/s/sturgeon_river.asp?ReportID=531128.
Cynthia Le Sueur-Aquin, President and CEO of Laurion commented, "Assays results to date suggest that the mineralized A-Zone's width and grade is increasing at depth, as we have evidenced in hole LBX12-001, LBX12-002 and in hole LBX12 010 which returned 12.84m of 3.31 g/t Au, 18.1 g/t Ag and 3.72% Zn."
Cross-Sections of these holes can be viewed at http://www.laurion.ca/s/sturgeon_river.asp?ReportID=552927
The Sturgeon River is a typical VMS target type having stacked gold-rich massive sulphide lenses, which are deformed and tilted, that host base metals of silver-copper-zinc. These massive sulphide lenses are located at the contact between felsic-intermediate volcanics and porphyritic felsic units.
Laurion is diligently working towards its ultimate goal of NI 43-101 mineral resource compliant report on the property, while developing a comprehensive database of 283 drill holes totalling 42,230 metres and inventory of detailed geological mapping and prospecting.
A-Zone Hole LBX12-008 was collared next to LBX12-002. Hole LBX12-008 was drilled at a shallower dip than LBX12-002 to intersect the A-Zone main mineralization up-dip of LBX12-002. LBX12-008 intersected 3.0m @ 1.88 g/t Au and 1.20% Zn and 3.50m @ 1.22 g/t Au and 1.04% Zn. Hole LBX12-008 intersected both mineralized horizons within a wide zone of alteration similar to LBX12-002. Assay results are as follows:
|LBX12-008||From (m)||To (m)||Length (m)||Au g/t||Ag g/t||Cu %||Zn %|
Hole LBX12-009 was collared 25m west of LBX12-001 and 25m east of LBX12-002, and was targeted to map the continuity of the mineralized A-Zone between holes LBX12-001 and LBX12-002 at a shallow depth. LBX12-009 intersected the broad zone of alteration and mineralization characteristic of the A-Zone, and intersected multiple zones of higher grade gold-zinc mineralization. Assay results are as follows:
|LBX12-009||From (m)||To (m)||Length (m)||Au g/t||Ag g/t||Cu %||Zn %|
Hole LBX12-010 was collared immediately next to LBX12-009, but drilled at a steeper dip to intersect the main mineralization of the A-Zone at greater depth, similar to holes LBX12-001 and LBX12-001. Hole LBX12-010 revealed wider zones of the high grade mineralization seen in previous drill holes, giving rise to the potential that the A-zone is increasing in grade and width at depth. Assay results are as follows:
|LBX12-010||From (m)||To (m)||Length (m)||Au g/t||Ag g/t||Cu %||Zn %||Pb %|
Hole LBX12-011 was collared 65m along strike east of LBX12-010. The hole appeared to cross only part of wider altered and mineralized horizon seen in the previous drilling, and possibly located in a fault off-set. Assay results are as follows:
|LBX12-011||From (m)||To (m)||Length (m)||Au g/t||Ag g/t||Cu %||Zn %||Pb %|
The true thicknesses of the mineralized zones are currently unknown, but based on core angles observed in core they may range from 50-90%. As results continue to come in from the drill program, construction of cross sections and modelling of mineralized horizons will provide better control on zone orientation
All sampling from the 2012 prospecting program were delivered by GeoVector Management Inc. personnel to the Activation Laboratories ("Actlabs") facility in Thunder Bay and/or Geraldton. Actlabs is an ISO/IEC 17025 accredited analytical laboratory. Analysis for gold was by fire assay with AA finish, followed by fire assay with gravimetric finish for samples over 3.0 g/t Au. Samples were also treated with a multi-acid ICP process, and base metal values over detection limit were treated to ore grade base metal assays. Analytical accuracy and precision are monitored at the laboratory by the analysis of reagent blanks, reference material and replicate samples. Quality control is further assured by the use of international and in-house standards. GeoVector also routinely inserted blanks and certified standards into the sample stream in order to independently assess analytical accuracy. All certified standard assays were within acceptable limits.
The technical information contained in this news release has been verified by Joe Campbell, P. Geo., consulting geologist with GeoVector Management Inc. Mr. Campbell is the project manager for Laurion's Sturgeon River project and is a Qualified Person as defined in "National Instrument 43-101, Standards of Disclosure for Mineral Properties."
Previously Announced Drill Holes LBX12-001 to LBX12-007
|From (m)||To (m)||Length (m)||Au g/t||Ag g/t||Cu %||Zn %|
|LBX12-005||From (m)||To (m)||Length m)||Au g/t||Ag g/t||Cu %||Zn %|
|LBX12-006||From (m)||To (m)||Length m)||Au g/t||Ag g/t||Cu %||Zn %|
|LBX12-007||From (m)||To (m)||Length m)||Au g/t||Ag g/t||Cu %||Zn %|
About Laurion Mineral Exploration Inc.
Laurion Mineral Exploration Inc. is a junior mining company focusing on the upside of its 100%-owned Sturgeon River property, a high impact project with a primary focus on gold and secondary focus in 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 Corporation's current focus is on resource development at Sturgeon River, located in Beardmore, Ontario, approximately 220 km 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