| | Publié le 21 février 2011 | Laurion Identifies Additional Mineralized East Ridge Zone on Bell Mountain Project |
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Re: News Release - Tuesday, February 15, 2011 Title: Laurion Identifies Additional Mineralized East Ridge Zone on Bell Mountain Project
TORONTO - 15 February, 2011 - Laurion Mineral Exploration Inc. (TSX-V: LME and OTCQX: LMEFF) ("Laurion") is pleased to provide shareholders with an update on the Bell Mountain project. Project geologists have examined an additional mineralized zone in the field called the East Ridge which is located approximately 1.5 kilometers to the east of the current Bell Mountain Varga and Spurr zones on which 56 reverse circulation ("RC") drill holes were completed. The East Ridge zone is on strike with the Varga and Spurr zones and is located within the Laurion claim block area.
Research has revealed that NDT Ventures Ltd. drilled in the East Ridge area in 2003. A press release dated May 28, 2003 stated that thirteen RC drill holes, totaling 481 meters were completed in late March 2003 in the East Ridge zone. Drill holes were spaced over a strike length of approximately 300 meters and positioned into the vein system angled between 45 and 80 degrees. The objective of the program was to establish continuity of the East Ridge vein system at relatively shallow levels below mineralized vein outcrops.
In the work executed by NDT Ventures, all sampling was completed on 3 foot intervals, with assaying conducted by ALS Chemex in Reno, Nevada. Highlights of these results include intersections of 15 feet grading 2.78 g/t gold and 64 g/t silver; 12 feet grading 3.13 g/t gold and 114 g/t silver; and, 9 feet grading 2.75 g/t gold and 72 g/t silver. The drilling and sampling was reported to be carried out under the direction of Thomas Burkhart, Vice President of Exploration for NDT Ventures, who is a Qualified Person as defined by NI 43-101.
This drilling indentified the consistent presence of a Main Vein and the occurrence of hanging-wall and footwall veins and stockworks on strike and down dip. Two drill holes, CC-l and CC-6, lost recovery through the main target zones but all other holes did intercept the predicted vein zones with gold and silver results noted as follows:
Drill Hole ID |
From (feet) |
To (feet) |
Width (feet) |
Gold (g/t) |
Silver (g/t) |
CC-2 |
45 |
54 |
9 |
2.75 |
72 |
CC-3 |
54 |
63 |
9 |
1.83 |
75 |
CC-4 and |
21 96 |
24 102 |
3 6 |
1.64 2.62 |
* 50 |
CC-5 and |
39 129 |
42 132 |
3 6 |
2.30 1.66 |
35 66 |
CC-7 and |
21 45 |
27 60 |
6 15 |
2.72 2.78 |
45 64 |
CC-8 and |
54 99 |
60 102 |
6 3 |
1.60 4.42 |
40 112 |
CC-9 and and and |
63 72 81 93 |
69 75 84 96 |
6 3 3 2 |
3.12 1.64 3.70 1.13 |
92 68 59 * |
CC-10 and and and |
42 78 99 117 |
45 84 111 120 |
3 6 12 3 |
1.01 2.31 1.80 1.72 |
* 54 38 36 |
CC-11 and |
42 84 |
51 87 |
9 3 |
1.43 1.49 |
61 42 |
CC-12 and |
72 87 |
78 99 |
6 12 |
1.79 3.13 |
* 114 |
CC-13 and |
21 66 |
27 72 |
6 6 |
1.32 1.49 |
* 60 | * less than 30 g/t Silver
Acquisition of the details of this drilling program data from NDT Ventures is in progress. The East Ridge mineralization may add significantly to the resource potential of the Bell Mountain Project. Further work will be completed in the East Ridge area in the spring.
Laurion has engaged Telesto Nevada, Inc. ("Telesto") to develop a National Instrument 43-101 compliant technical report for the Bell Mountains property contemplating a conventional low cost open pit mining method with heap leach processing configuration. The 43-101 compliant technical report will confirm the resource estimate completed in 1991 by N. A. Degerstrom (the "Degerstrom Report") and the 14,240 feet of drilling recently completed in 2010 by Laurion. The Degerstrom report, which was based on 34,682 feet of drilling, concluded that the deposit contained 2.1 million tonnes grading 1.33 g/t gold and 37.6 g/t silver.
Qualified Person
This news release and the technical information contained in it have been reviewed and verified by Mr. Dana C. Durgin (MSc, P.Geo), Laurion's Exploration Manager, who is the Qualified Person responsible for the scientific and technical work (as defined under National Instrument 43-101) discussed in this press release.
About Laurion Minerals Exploration Inc.
The Corporation's focus is to make the transition from explorer to near-term producer and envisages the realization of shareholder value and wealth through monetization of its discoveries and assets. 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 Churchill County, Nevada USA.
The Corporation has an option to acquire a 100% interest in the Bell Mountain Gold Project with Globex Mining Enterprises Inc. (TSE: GMX, (G1M-Frankfurt)) ("Globex") of Rouyn-Noranda, Quebec.
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.
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
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 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
Copyright � 2011 LAURION MINERAL EXPLORATION INC. (LME) All rights reserved. For more information visit our website at http://www.laurion.ca/ or send email to info@laurion.ca ..
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Laurion Mineral Exploration Inc.
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EXPLORATEUR |
CODE : LME.V |
ISIN : CA5193221010 |
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ProfilIndicateurs de MarchéVALEUR : Projets & res.Communiqués de PresseRapport annuelRISQUE : Profile actifsContactez la cie |
Laurion Mineral Expl. est une société d’exploration minière d'or basée au Canada. Laurion Mineral Expl. détient divers projets d'exploration au Canada. Ses principaux projets en exploration sont STURGEON RIVER MINE, GERMAN PROPERTY, BELL MOUNTAIN, DAVIDSON-TISDALE, DAVIDSON TISDALE / LAURION CLAIMS, EAST CLAVOS et HEMLO-MONTCLERG / NORTHCOTT au Canada. Laurion Mineral Expl. est cotée au Canada. Sa capitalisation boursière aujourd'hui est 43,3 millions CA$ (31,9 millions US$, 28,7 millions €). La valeur de son action a atteint son plus bas niveau récent le 01 janvier 2016 à 0,01 CA$, et son plus haut niveau récent le 17 juin 2022 à 1,15 CA$. Laurion Mineral Expl. possède 108 230 000 actions en circulation. |
Financements de Laurion Mineral Exploration Inc. |
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Rapports Financiers de Laurion Mineral Exploration Inc. |
Projets de Laurion Mineral Exploration Inc. |
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