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Laurion Reveals New Exposure on River Zone Trend
Published : November 28, 2012
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Keywords :   Copper | Gold | Lme | Monetization | Water | Zinc |

Laurion Reveals New Exposure on River Zone Trend

Grab Assays 3.02% Cu and 33.2 g/t Ag; 1.42% Cu and 10.8 g/t Ag; and 2.11% Cu and 27.9 g/t Ag

TORONTO, Nov. 28, 2012 /CNW/ - Laurion Mineral Exploration Inc. (TSX-V: LME) and (OTCQX: LMEFF) ("Laurion" or the "Corporation") is pleased to announce the results of grab assays from a new exposure on the River Zone, of its 100%-owned Sturgeon River Property. The River Zone is located on the most northerly trend of the three known trends hosting massive to semi-massive sulphides identified within the 3 km long by 1 km wide corridor.

The River Zone is a distinctive sheared and mineralized volcanic stratigraphy which is reflected by the course of the Sturgeon (Namewamikan) River which bisects the Laurion Sturgeon River Property. The River shear zone was reported to produce a strong VLF-EM conductor in historical exploration reports. In the late 1950's, copper bearing mineralization was first noted during a period of low water levels along the southern shoreline of the Namewamikan River.  Drilling in the 1990's reported intersections of lenses of chalcopyrite and sphalerite tested in five drill holes which were drilled on the north side of the River. Reported drilling had intersected values ranging for 0.45% to 8.89% Cu over widths ranging from 0.305 m to 3.66 m.

Exceptionally dry weather through late summer and early fall of 2012 allowed prospecting of bedrock exposed by the low water level in the Namewamikan River. This confirmed the mineralized zone which was exposed over approximately 30 m of strike and with a width of 4 m. The zone strikes approximately 020⁰ and continues into the River to the northeast and into overburden on the river bank to the southwest. Cursory prospecting along the north bank led to the discovery of further copper mineralization in limited bedrock exposure approximately 100 m northeast of the sampled occurrence. This trend direction was previously intersected by a drill hole 300 m to the southwest (88-22) with an intersection of 10.37 m grading 1.22% Cu, 13.6 g/t Ag and 0.20 g/t Au on strike with the bedrock exposure.

A total of six grab samples were taken. Results of the Grab Samples are as follows:

Sample # Au
ppb
Ag g/t Cu
%
Zn
%
1384313 94 33.2 3.02 0.43
1384314 nil 1.0 0.04 0.11
1384315 37 7.2 0.59 0.07
1384316 238 10.8 1.42 0.03
1384317 62 11.0 0.91 0.03
1384318 256 27.9 2.11 0.36

Additional prospecting and mapping was carried out in early November on a second copper showing designated the Azurite showing. The Azurite showing appears to be along the strike of the Tehya trend which has been drilled by five holes within an 800 m strike length. This consists of a silicified breccia zone in an intermediate volcanic with abundant visible chalcopyrite and copper oxides within narrow veins and fractures. It is postulated that this may be a feeder zone to more extensive VMS ("Volcanic Massive Sulphide") mineralization that has been previously reported on the property. While mapping this showing, a further zone of zinc and copper VMS style mineralization was discovered approximately 20 m north of the Azurite showing.

Two grab samples were taken of the exposure and resulted in the following assays:

Sample # Au
ppb
Ag g/t Cu
%
Zn
%
1384287 186 12.4 0.13 13.90
1384288 959 67.7 1.29 4.80

The above two samples occur on the Tehya trend approximately 300 m northeast of a Laurion drill hole, LME11-017 which intersected 4.20 m grading 0.14 g/t Au, 12.83 g/t Ag, 0.14% Cu and 3.79% Zn. Drill hole LME11-017 is the most northeasterly drill hole on this trend, and this showing may extend that zone a further 300 m along strike.

All sampling from the 2012 prospecting program was 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 3.0 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 is a Qualified Person as defined in "National Instrument 43-101, Standards of Disclosure for Mineral Properties."

About Laurion Mineral Exploration Inc.

Laurion Mineral Exploration Inc. is a junior mining company focusing on the upside of its 100%-owned Sturgeon River property, a high impact project with a primary focus on gold and secondary focus in base metals.

With proven ability to develop early stage projects and create shareholder value by monetizing its discoveries and assets, Laurion has realized a total of $6.35 million in the last two years from monetization of its assets. The Corporation's current focus is on resource development at Sturgeon River, located in Beardmore, Ontario, approximately 220 km northeast of Thunder Bay.

Neither the TSX Venture Exchange (the "TSX-V") nor its Regulation Services Provider (as that term is defined in the policies of the TSX-V) accepts responsibility for the adequacy or accuracy of this news release. This news release includes certain forward-looking statements concerning the future performance of Laurion's business, operations and condition, as well as management's objectives, strategies, beliefs and intentions. 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. 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 except as required by law.

 

 

SOURCE: Laurion Mineral Exploration Inc.

For further information:

Laurion Mineral Exploration Inc.
Cynthia Le Sueur-Aquin - President
Tel: 1-888-212-4070
Tel: 1-705-788-9186
Fax: 1-705-788-9187
Website: www.laurion.ca

Companies Mentionned : Metals X | Reliance | Southern | Total | X-ore |
Data and Statistics for these countries :
Gold and Silver Prices for these countries :

Laurion Mineral Exploration Inc.

EXPLORATION STAGE
CODE : LME.V
ISIN : CA5193221010
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Laurion Mineral Expl. is an exploration gold company based in Canada.

Laurion Mineral Expl. holds various exploration projects in Canada.

Its main exploration properties are STURGEON RIVER MINE, GERMAN PROPERTY, BELL MOUNTAIN, DAVIDSON-TISDALE, DAVIDSON TISDALE / LAURION CLAIMS, EAST CLAVOS and HEMLO-MONTCLERG / NORTHCOTT in Canada.

Laurion Mineral Expl. is listed in Canada. Its market capitalisation is CA$ 1.6 millions as of today (US$ 1.2 millions, € 1.1 millions).

Its stock quote reached its highest recent level on January 09, 2004 at CA$ 0.53, and its lowest recent point on January 01, 2016 at CA$ 0.01.

Laurion Mineral Expl. has 105 051 245 shares outstanding.

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