Issued and Outstanding 65,923,683 Common Shares
TORONTO, Jan. 14 /CNW/ -
- Commencement of Phase Four Exploration Program - Enid-Massey Project.
- Three diamond drill holes are planned to test a series of strong
airborne conductors on the ZED'or Grid, considered a favourable area
for Ni-Cu-PGE sulphide deposition.
- Five diamond drill holes are planned for the Santrap Grid. Previous
drilling on the Santrap intersected distinct exhalative horizons with
strong Au, Ag, Cu and Zn values.
- The Enid-Massey contains many as yet untested airborne conductors
showing potential for VMS, Cu-Ni-PGE, and, possibly Au
- 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 km west of the Enid-
Massey and is a similar geological environment to the Laurion Enid-
Toronto, ON - January 14, 2008 - Laurion Mineral Exploration Inc. (TSXV:
LME) ("Laurion") is pleased to announce the commencement of its Phase Four
exploration program on the Enid-Massey Property which will comprise eight
holes totaling a minimum of 925 metres on the Santrap and ZED'or grids.
Santrap Grid: Phase III - January 2008
A Max/Min II EM survey, followed by a Spectral I.P. survey over the
Santrap area, highlighted a number of drill targets over conductors with an
aggregate strike length of at least 300 metres. Follow-up diamond drilling has
identified several distinct exhalative horizons with strong Au, Ag, Cu and Zn
values. The iron sulphides and base metals show distinct stratigraphic
zonation, typical of Kidd Creek type VMS environments, with sulphides hosted
by the footwall rhyolites tending to be rich in Cu, whereas sulphides in the
hanging wall basalts are rich in Zn.
Phase I drill results, conducted on the Santrap Grid in December 2006,
indicated that the thickness and concentration of copper and zinc bearing
massive sulphides increased with depth, and towards the west.
Phase II drilling confirmed improving base metal results with depth and
discovered a second copper-bearing sulphide zone 300m to the southwest.
Phase III will be comprised of five diamond drill holes totaling 625m to
test several Spectral I.P. anomalies associated with EM conductors previously
identified by the 2006 AeroTEM airborne survey.
ZED'or Grid: Phase I - January 2008
Phase I drilling on the ZED'or grid will be comprised of three diamond
drill holes totaling 300 m to test an east-west trending Spectral I.P.
chargeability and magnetic zone coincident with moderate to strong EM
conductors identified in the 2006 AeroTEM airborne survey. (The ZED'or Grid
has not been previously drill tested)
Update on the Côté-Bihar and Argos Areas
In December 2007, a drilling program was completed on the Côté-Bihar and
Argos areas. The program was comprised of ten diamond drill holes totaling
Seven diamond drill holes totaling 822m were completed in the Côté-Bihar
Area. The drill holes were designed to test three strong airborne conductors.
The Corporation 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 of 25 September 2007).
The northern claims of the Côté Township were originally staked to cover
east-west trending trains of strong airborne EM anomalies. 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.
Three diamond drill holes totaling 445m were completed on the Argos grid.
The drill holes were designed to test several EM conductors identified in the
2006 AeroTEM airborne survey.
All samples are currently being analyzed by Accurassay Laboratories in
Thunder Bay, Ontario. Results will be published as they are made available and
have been reviewed by Management.
About the Enid-Massey Project
Laurion's 100% owned Enid-Massey Project covers approximately 100 km(2)
(623 claim units), and is located approximately 40 km west-northwest 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 km west of the Enid-Massey
and is a similar geological environment to Laurion's Enid-Massey Project.
Joerg Kleinboeck, P.Geo., a consulting geologist with Caracle Creek
International Consulting Inc. (CCIC), is the project manager and is also the
Company's Qualified Person as defined by National Instrument 43-101. Mr.
Kleinboeck has reviewed and approved the scientific and technical content of
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, Michael Borovec - Associate Account
Manager, firstname.lastname@example.org, Tel: (416) 868-1079 x 229, Website: www.chfir.com