Issued and Outstanding 34,445,776 Common Shares
TORONTO, Sept. 25 /CNW/ - Laurion Mineral Exploration Inc. (TSXV: LME)
("Laurion") is pleased to announce that it has entered into an option
agreement (the "Option Agreement") with Ronald Eugene Davidson and George
Hargraves (collectively the "Optionors") pursuant to which, Laurion will
receive an option (the "Option") to acquire a 100% legal and beneficial
interest in eleven mining claims located in the Cote Township in Timmins,
Ontario (the "Property") in consideration for Laurion making certain payments,
deliveries and expenditures to the Optionors. Laurion will be able to fully
exercise the Option by making aggregate cash payments of $45,000 and issuing
to the Optionors an aggregate of 400,000 common shares in its capital over a
two year period. The Option Agreement remains subject to the approval of the
TSX Venture Exchange.
Cote-Bihar - Cote Township (Enid-Massey Project)
- Option to acquire 100% of 11 patented mining claims.
- Cote-Bihar hosts several strong untested airborne anomalies.
- Cote-Bihar Grid is considered a favourable area for sulphide
deposition as it is adjacent to strong shear zones, and hosts a
strong magnetic high.
- Several gold showings were discovered on the Cote-Bihar Grid in the
1920's and were reported to consist of quartz-pyrite-chalcopyrite
veins assaying up to 47.3 g/t Au within and around a quartz feldspar
Laurion's 100% owned Enid-Massey Project which is 99 sq. kilometres
(612 claim units) and is located 40 km west north west of Timmins, Ontario,
focuses on the relatively unexplored Cote-Enid-Massey Mafic Intrusive Complex
("CEMMI"). Much of the Enid-Massey Project is underlain by the northern
portion of the Kamiskotia Gabbroic Complex ("KGC"). The Kamiskotia Volcanic
Complex ("KVC") wraps around the north, south and west portions of the CEMMI
and may have similar potential for volcanogenic massive sulphide deposits
similar to those found at the Xstrata Montcalm Nickel Mine and the Kidd Creek
Mine. Several prominent fault zones, or "breaks" cut through the Enid Massey
Project in an east-west direction: Volcanic feeders, such as those that occur
as part of the Kamiskotia Gabbroic Complex, are hunting grounds for copper and
other massive sulphide deposits.
The Cote-Bihar Grid Property (the "Cote Property") lies to the north of
the CEMMI. The north claims of the Cote Property were originally staked to
cover east west trending trains of strong airborne EM anomalies, which
occurred in the south central part of the Cote Property. As a result of the
airborne survey flown in 2006, it appears that the Matachewan quartz diabase
dikes in the Cote-Property have swerved to hit a fault or shear zone, which is
a good indication of other predominant regional structures. The Cote Property
is considered a favourable area for sulphide deposition as it is adjacent to
this shear zone, and hosts a strong magnetic high. Several gold showings were
discovered on the Cote Property in the 1920's. The historic showings were
reported to consist of quartz-pyrite-chalcopyrite veins assaying up to
47.3 g/t Au within and around a quartz feldspar porphyry stock.
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, www.chfir.com, Barry Leung, Broker
Relations Account Manager, firstname.lastname@example.org, Tel: (416) 868-1079 ext.247; Kelly
Cody, Assoc. Account Manager, email@example.com, Tel: (416) 868-1079 ext.223