TORONTO, Jan. 26, 2012 /CNW/ - Laurion Mineral Exploration Inc. (TSX-V: LME) (OTCQX: LMEFF) ("Laurion" or the "Corporation") is pleased to announce the drill results of the first three holes completed on the Sphinx Zone at its 100% owned Bell Mountain project located in Churchill County, Nevada.
Summary of Results
The Corporation has received assay results for the first three holes of the Sphinx drill program. Holes SPX-2, 3 and 4 were drilled at the extreme northwest end of the Sphinx Zone, where high values or substantial widths were not expected. The intercepts are in those sections of the holes with quartz veinlets. There is no hole SPX-1.
|Hole ID||From (ft.)||To (ft.)||Interval (ft.)||Interval (m)||Au (g/t)||Ag (g/t)|
The Sphinx drill program is composed of 1,219.2m (4,000ft.) of reverse circulation drilling ("RC"). Approximately 823m (2,700ft.) is planned to be completed on the Sphinx Zone.
Historic sampling indicates that the Sphinx Zone is approximately 300m (1,000ft.) along strike and up to 24m (75ft.) in maximum width. The Sphinx Zone dips approximately 60 degrees to the south-west and thus drilling could contribute significantly to the resource totals. The remaining reverse circulation ("RC") drill holes are infill and step-out holes in the main portion of the Sphinx Zone.
The holes were designed to intersect the mineralized zone as close to perpendicular to the strike and dip as possible, within the limitations of equipment and terrain. All holes intersected the mineralized zones at 60-70 degrees, and true widths are interpreted to be 80-90% of drill intersection widths.
Major Drilling of Salt Lake City, Utah commenced drilling on the Bell Mountain Property in November 2011. The Corporation terminated the drill program after completing the above three holes on the Corporation's Sphinx Zone, as a result of mechanical breakdowns and difficulties accessing the steep drill stages due to icy terrain. In the interest of safety and elimination of unnecessary costs, the Corporation determined that the drill program will be resumed in the spring.
The Bell Mountain is a silver/gold project located in the south-eastern part of Churchill County in west-central Nevada (USA). The Property is located approximately 82 road kilometres south-east of Fallon and 102 air kilometres south-east of Reno, Nevada.
The technical information contained in this news release has been verified by Dana Durgin (MSc, P. Geo), consulting geologist with and project manager for Laurion's Bell Mountain project and is a Qualified Person as defined in "National Instrument 43-101, Standards of Disclosure for Mineral Properties."
All samples from this Bell Mountain drilling program were analyzed by ALS Chemex using a fire assay method with AA finish. The drilling was completed using the reverse circulation rotary method.
About Laurion Mineral Exploration Inc.
The Corporation's focus is to make the transition from explorer to near-term producer and envisages the realization of shareholder value and wealth through monetization of its discoveries and assets. Laurion's exploration horizons are focused primarily on gold with a secondary interest in base metals and PGEs with key interests in prospective mining properties located in Ontario and Churchill County, Nevada USA. The Corporation has an option to acquire a 100% interest in the Bell Mountain Gold Project with Globex Mining Enterprises Inc. (TSE: GMX, (G1M-Frankfurt)) ("Globex") of Rouyn-Noranda, Quebec.
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. Such statements include, but are not limited to, statements concerning the Bell Mountain Property as described above. 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.
For further information:
Laurion Mineral Exploration Inc.
Cynthia Le Sueur-Aquin - President