|
|
Laurion
Mineral Exploration Inc. (TSX-V: LME and OTCQX: LMEFF) ("Laurion")
is pleased to announce that assays have been received from a comprehensive
sampling program completed on the 132,000 ton waste rock pile at its Sturgeon
River Property ("Sturgeon") located near Beardmore, Ontario.
Summary results
of the assaying included:
|
Size Fraction
|
Maximum Grade
(Au g/t)
|
Minimum Grade
(Au g/t)
|
Average Grade (Au g/t)
|
|
>63 mm
|
32.00
|
nil
|
0.97
|
|
63mm-16
mm
|
7.16
|
0.02
|
0.77
|
|
16mm-2mm
|
4.84
|
0.05
|
0.98
|
|
< 2mm
|
14.3
|
1.77
|
6.20
|
The above assay results and the survey data are currently being incorporated
into an ore resource estimate by GeoVector and this information will be used
to calculate and complete a NI 43-101 compliant resource estimate by the end
of Q1-2011.
On May 13, 2010 Laurion reported that grab sampling by the Corporation's
Consultants GeoVector Management Inc ("GeoVector") of the
waste rock pile returned a range of 0.06 g/t to 10.2 g/t gold for an
average grade of 2.83 g/t gold from eight random samples. It was also
reported in 1984, that a bulk sample extracted at that time by front end
loader returned an average of 2.95 g/t gold which suggested the
potential for approximately 11-12,000 ounces of gold in the 132,000 tons
of the waste rock pile. This estimate of contained metal is historical
and does not conform to the current National Instrument 43-101 standards, and
should not be relied upon.
On the basis of these initial encouraging results, Laurion commissioned a
comprehensive program to accurately determine the location and volume of the
waste rock pile, and to sample the waste rock pile using an excavator to dig
pits to acquire representative samples throughout the pile.
The survey of the waste rock pile was carried out by TBT Engineering
Consulting Group ("TBTE") of Thunder Bay, using a Trimble R8
RTK GPS, with an accuracy of approximately 1 cm. The excavation was also
carried out by TBTE with hole location determined using the Trimble GPS.
Depth of the excavated pits was determined using a tape measure to 10 cm
scale accuracy. A total of 30 pits were excavated and 46 samples were
collected, with deeper pits (maximum 5.2 meters deep) providing 2 or 3
samples at successively deeper levels.
Sampling of the excavated material was carried out by GeoVector to acquire
samples that were representative of rock type and broken rock size. Samples
were collected in 20 litre pails and delivered to Overburden Drilling
Management ("ODM") in Ottawa, Ontario. Individual sample
weight was between 20.8-30.7 kg and total sample weight tested was 1.22
tonne. ODM sorted the individual samples into 4 fractions of >63mm,
63-16mm, 16-2mm and <2mm. This separation was to test the assumption that
the finer fraction material would contain more gold as the Sturgeon River
Mine during its 1936-1942 production period had hand sorted coarse quartz
vein material for milling at an average grade of 15.71 g/t gold and
remaining finer high grade material and host rock would have been designated
to the waste rock pile.
The size fractions from the samples were sent by ODM to Actlabs and they were
analyzed by fire assay with AA finish. Any high grade samples over 3000 ppb
gold were further treated to fire assay with gravimetric finish to determine
a final gold grade.
As indicated by the above table the smallest size fraction (< 2mm) had the
highest grade material (6.20 g/t gold average), and all samples in this size
fraction had assays greater than 1.75 g/t gold. The coarsest fraction (>
63 mm) had highly erratic values, but also contained the highest grade sample
(32 g/t gold).
The Sturgeon River Mine produced 73,322 ounces of gold and 15,929 ounces of
silver processed from 145,123 tons mined primarily from the No.3 Vein during
1936 to 1942. The gold price ranged from *$34.87 (1936) to *$ 33.85 (1942). (*
Prices from 1883-1994, World Gold Council. Taken from Timothy Green's
Historical Gold Price Table, London prices converted to U.S. Dollars.)
All samples from the 2010 waste pile program were delivered by GeoVector
Management Inc. personnel to the Activation Laboratories
("Actlabs") facility in Geraldton. Actlabs is an ISO/IEC 17025
accredited analytical laboratory.
The work programs at the Sturgeon River property are designed and managed by
GeoVector Management Inc. The technical information contained in this news
release has been verified by Joseph Campbell, P. Geo., President of
GeoVector, who is a Qualified Person as defined in "National
Instrument 43-101, Standards of Disclosure for Mineral Properties."
About Laurion Mineral Exploration Inc.
Laurion is an exploration company with key interests in prospective mining
properties located in Ontario. Laurion's primary exploration focus is the
identification of gold deposits; its exploration horizon also encompasses
base metals and PGEs.
FOR FURTHER INFORMATION, CONTACT:
Laurion Mineral Exploration Inc.
Cynthia Le Sueur-Aquin - President
Tel: 1-705-788-9186
Fax: 1-705-788-9187
Website: www.laurion.ca
|
|