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Laurion Mineral Exploration Inc. (TSX VENTURE:LME - News; OTCQX:LMEFF) ("Laurion") is very pleased to announce positive base
metal and gold results from channel sampling on the Tehya
zone on its Sturgeon River Property, Beardmore, Ontario.
The Tehya zone
was drilled in the summer of 2010 and reported 0.94% Cu, 3.91% Zn, 27.80 g/t
Ag and 0.45 g/t Au over 4.08 m in drill hole LME10-07 within two parallel
lenses of massive to semi-massive sulphides within
sheared and brecciated volcanics
with disseminated sulphides. In addition this hole
intersected a sub-parallel quartz vein that graded 2.28 g/t Au over 1.13 m.
The Tehya zone
is adjacent to the HWY 801 which offered the opportunity to strip the
overburden to exposure the mineralized zone for mapping and channel sampling.
This work was completed in November 2010, and assay results have recently
been received. A zone of sulphide mineralization
was exposed for approximately 15 meters and mapped and channel sampled with a
diamond saw. The channels are oriented across the strike of the zone. In
addition a zone of gold bearing quartz veining located 10 meters structurally
above the sulphide zones was exposed for
approximately 35 meters, and was similarly mapped and channel sampled.
Significant results of the channel sampling included:
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Channel Length Au g/t Ag g/t Cu% Zn% Pb%
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Base Metal Zone
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TYCH1001 1.50 0.17 30.8 0.91 7.44 0.04
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TYCH1002 2.00 0.09 11.4 0.17 2.82 0.43
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TYCH1003 2.00 .07 6.9 0.20 2.03 -
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TYCH1014 4.05 0.19 14.7 0.32 3.07 0.15
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Gold Bearing Quartz Vein Zone
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TYCH1008 0.50 29.50 10.4
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TYCH1015 0.50 13.40 1.0
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TYCH1012 0.50 1.84 0.3
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TYCH1007 0.50 1.47 0.3
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The stripping, mapping and channel
sampling provided important information on the strike, dip, and structural
setting for the VMS style Cu-Zn-Pb-Ag-Au zones.
Significantly the stripping and the previous drilling have now confirmed that
the zone extends at least 50 meters along strike and 40 meters down dip. The
known strike extent of the Tehya zone is presently
limited by the location HWY 801, with massive sulphides
extending under the road bed. The gold intersection up hole from the Cu-Zn
zone is interpreted to be the A-11 quartz vein.
One of the main purposes of the stripping
was to define the geological controls on the Tehya
zone, and apply this knowledge to the targeting of drilling on several high
zinc/copper soil anomalies. These areas are not exposed in outcrop but are
covered with thin overburden. They display much larger and stronger soil
anomalies than the Tehya zone. These anomalies are
complimented by 400-800 meter long historical (1984) VLF survey anomalies,
and they also have known Zn-Cu-Ag-Au showings located close to the anomalies.
It is planned to cover these areas with IP surveys in Q1 of 2011, followed by
diamond drilling planned in the first quarter of 2011. The data gathered in
the Tehya strip area will be used to help design
the IP survey parameters.
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 envisages the realization of
shareholder value and wealth through monetization of its discoveries and
assets.
Laurion is well-funded to complete the next
phases of drilling and exploration work on the Bell Mountain and Sturgeon
River Gold Projects and to successfully advance these projects, moving the
Corporation closer to being a near-term producer.
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 expected timing of assay results. 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.
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.
Contact:
Cynthia Le Sueur-Aquin
Laurion Mineral Exploration Inc.
President
1-705-788-9186
1-705-788-9187 (FAX)
www.laurion.ca |