Laurion Intersects 15.30 g/t Gold over 0.55
meters in No. 3 Vein at Sturgeon River Project, Beardmore, ON
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TORONTO -- March 21, 2011 - Laurion Mineral
Exploration Inc. (TSX.V: LME; OTCQX: LMEFF) ("Laurion")
is pleased to announce assay results from drill holes LME10-09W and LME10-10,
the fourth and fifth drill holes that complete the first phase of the Company's
deep drilling program on the Sturgeon River Mine area. Both holes reported
visible gold in the No. 3 vein. LME10-09W intersected the No. 3 Vein
approximately 20 meters above and 15 meters north of the intersection in
LME10-09, and it intersected 15.30 g/t gold over 0.55 metres.
Hole LME10-10 intersected 3.02 g/t gold over 0.51 metres in the No. 3 Vein. There were multiple other zones of
mineralization encountered in the hole with 1g/t to 9 g/t gold over narrow
widths tabled below. Drill hole LME10-09W was designed to intersect the No. 3
Vein under the shaft location and is a wedge from drill hole LME10-09 which
intersected 6.00 g/t gold over 1.73 metres in the
targeted No. 3 Vein, in which visible gold was reported, including 14.30 g/t
gold over 0.69 metres in the quartz portion of this
zone. Hole LME10-10 was targeted to intersect the No.
3 Vein approximately 100 meters further north along the strike of the vein.
All significant gold intersections for LME10-09W are tabulated below.
Drill Hole
Number
|
|
From (meters)
|
To
(meters)
|
Interval
(meters)
|
Au g/t
|
Zone
|
LME10-09W
Azimuth 085
Dip -55
|
|
348.02
|
349.10
|
1.08
|
4.19
|
New Zone 4
|
Incl.
|
348.02
|
348.52
|
0.50
|
8.96
|
|
|
376.30
|
379.60
|
2.60
|
0.75
|
New
Zone
|
Incl.
|
377.50
|
379.00
|
0.50
|
2.25
|
|
|
466.45
|
467.40
|
2.95
|
1.24
|
New
Zone 5
|
Incl.
|
466.45
|
467.40
|
0.95
|
4.50
|
|
|
686.45
|
686.95
|
0.50
|
1.23
|
M vein
|
|
720.70
|
722.73
|
2.03
|
1.36
|
10
Vein
|
Incl.
|
720.70
|
721.20
|
0.50
|
2.65
|
Visible Gold (VG)
|
|
738.45
|
739.00
|
0.55
|
15.30
|
3 vein (Main Zone) with
VG
|
All significant gold intersections for LME 10-10 are tabulated below.
Drill Hole
Number
|
|
From (meters)
|
To
(meters)
|
Interval
(meters)
|
Au g/t
|
Zone
|
LME10-10
Azimuth 090
Dip -60
|
|
71.00
|
74.00
|
3.00
|
1.04
|
New
Zone
|
Incl.
|
73.00
|
74.00
|
1.00
|
2.21
|
|
|
427.36
|
443.80
|
16.44
|
0.31
|
New
Zone 5
|
Incl.
|
428.05
|
428.73
|
0.68
|
1.41
|
|
Incl.
|
442.12
|
444.80
|
0.68
|
2.37
|
New
Zone
|
|
680.16
|
680.89
|
0.63
|
1.55
|
M Vein
|
|
726.34
|
727.62
|
0.69
|
2.32
|
10
Vein
|
|
762.10
|
762.62
|
0.51
|
3.02
|
3 vein (Main Zone) with
VG
|
|
821.24
|
821.85
|
0.61
|
1.18
|
New
Zone
|
Based on the azimuth and dip of the drill holes and the projected strike and
dip of the veins from the underground workings it is estimated that the true
width of the vein intersections is 70-85% of the drill hole
intervals.
The Sturgeon River Mine historically reported production of 73,322 ounces of
gold and 15,929 ounces of silver from 145,123 tons taken primarily from No.
3 Vein during 1936 to 1942, but also from the No. 10 Vein and the M Vein that
were encountered at the lower depths of the mine in the later years of mine
life.
The shaft was sunk to a depth of 2,100 ft. (640 m) with development to the
1,750 ft. level (530 m). Mining occurred mostly above the 1425 ft. level. These
first phase drill holes were designed to intersect the No. 3 Vein at or below
the level of the bottom of the shaft, and to intersect other known sub-parallel
gold bearing structures.
The drill intersections received to date provide support for a down plunge
extension of the No.3 mineralized shoot and indicate that additional mineralized
zones on other veins and shear horizons are located close to the previous
underground workings. Laurion's program is considered
a first phase of delineating that mineralization for possible 43-101 resource
estimation.
All sampling from the 2010 programs 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 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 he is a Qualified Person as defined in
"National Instrument 43-101, Standards of Disclosure for Mineral
Properties."
About Laurion Mineral
Exploration Inc.
Laurion's focus is to make the transition from
explorer to near-term producer. 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 Nevada USA.
Laurion Mineral Exploration Inc.
Cynthia Le Sueur-Aquin -- President
Or
Laurion Mineral Exploration Inc.
Karen Doxsee -- VP Corporate Communications
Tel: 1-888-212-4070
Tel: 1-705-788-9186
Fax: 1-705-788-9187
Website: www.laurion.ca
Laurion envisages the realization of shareholder
value and wealth through monetization of its discoveries and assets.
FOR FURTHER INFORMATION, CONTACT:
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 Laurion's
acquisition of the Property from Bond and Renner as described above, statements
concerning the approval of Laurion's application to
trade its common shares over the facilities of the OTCQX and the commencement
of such trading. 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.