Deep Drilling Assay Results Pending
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TORONTO, ONTARIO--(Marketwire - Jan. 10, 2011) -
Editors Note: There is a map associated with this press release.
Laurion Mineral Exploration Inc. (TSX VENTURE:LME)(OTCQX:LMEFF) ("Laurion") is pleased to provide shareholders with an exploration activity update with respect to recent drilling and completed results on its Sturgeon River Property, Beardmore, Ontario.
Laurion is well-funded to complete the next phases of drilling and exploration work on both Sturgeon River and Bell Mountain Projects. Laurion's focus in 2011 is to continue to successfully advance these projects, moving the Corporation closer to being a near-term producer.
CURRENT DRILLING AND EXPLORATION UPDATE:
In October 2010, deep drilling commenced on the Sturgeon River Mine to test the down dip extension of the No. 3 vein and also targeted the M, 10 and 11 veins in the areas below the deepest Sturgeon Mine workings, approximately 1800ft (549m). Historical reports suggest a target deposit of a 300,000 -400,000 ton resource at 0.12 ozs to 0.17 ozs/tonne gold (3.75 to 5.30 g/t) down to the 2000 ft. (610m) level. Compilation of the historic workings coupled with the current deep drilling further justified by encouraging assay results of the historical waste rock pile and the mill tailings may result in enough information to generate a National Instrument 43-101 compliant ore resource report by the end of Q1-2011.
To date 2,678 m has been completed in 4 holes with one hole totalling 800 m still to be completed. To date, a total of $602,889 has been expended and is within the budgeted amount of $635,000 for 2010. Assays for above holes are still pending.
EXPLORATION HIGHLIGHTS OF 2010:
Sturgeon Rive Mine Area
95 g/t and 51.6 g/t gold over a 30 cm vein width (No. 3 vein);
1.35 g/t and 1.16 g/t gold (adjacent host rock over approximately 50 cm width) indicating that the host rock may well carry significant grade;
34.6 g/t gold (No. 3 vein) and 25.3 g/t gold (No. 3b vein) taken approximately 165 m south of the Sturgeon River Mine shaft; and
Comprehensive Sampling of the waste rock pile returned values up to 32 g/t gold.
Comprehensive sampling of the mine tailing area returned values up to 21.9g/t gold.
The above results highlight the high grade and lateral extent of the Sturgeon River Mine vein systems and adjacent host rock, further confirmed by the comprehensive sampling program indicating the economic available surface stockpile potential for gold in both the waste rock pile and mill tailings which emanated from the historic production during the years 1936 to 1942, when the gold price was approximately $34/ounce.
Laurion completed 487 meters of drilling in 7 holes in June 2010 on the Marge Vein and Tehya zone.
Marge Vein
Drill Hole LME10-01 reported a high grade gold intercept of 20.20 g/t over 0.36 m on Marge Vein from 39.18-39.54 m.
Tehya Zone
Sampling conducted in June 2010 within the Tehya massive sulphide zone, averaged 6.13% zinc, 1.40% copper, 45.6 g/t silver, and 0.63 g/t gold. In addition, approximately 30 metres southwest of the Tehya zone, a quartz vein (A11 vein) returned samples of 57.2 g/t gold and 21.1 g/t silver.
Drill hole LME10-07 reported 3.91% zinc, 0.94% copper, 27.80 g/t silver and 0.45 g/t gold over 4.08 m on the Tehya Zone. In addition this hole intersected a sub-parallel quartz vein that graded 2.28 g/t gold over 1.13 m.
The Tehya zone was stripped and the overburden exposed, displaying sulphide mineralization approximately 15 m which was then mapped and channel sampled with assays of 7.44% zinc, 0.91% copper, 30.8 g/t silver and 0.17g/t gold over 1.50 m and 3.07% zinc, 0.32 % copper, 14.7g/t silver and 0.19 g/t gold over 4.05 m. In addition a zone of gold bearing quartz veining located 10 m structurally above the Tehya sulphide zones was exposed for approximately 35 m which returned assays of 29.50g/t gold and 13.40 g/t gold over 0.50 m.
Tala Zone (New discovery zone)
The Tala Zone, located west of the Sturgeon River Mine trends from the Brenbar Property eastward onto the Sturgeon River Property. 100 samples were collected at the Tala Zone with high gold values of 124 g/t gold with 79 g/t silver; 24 g/t gold; 6.1 g/t gold with 85 g/t silver; and 5.72 g/t gold with 22 g/t silver clustered along an east-northeast trend which extends more than 1 kilometer in strike length.
Asha Zone (New discovery zone)
The Asha Zone located south of the Sturgeon River Mine area is adjacent to an 800 m VLF EM anomaly that has no outcropping areas. In total, 92 samples were taken from this area with reporting high grade gold and silver values of 9.87 g/t gold with 136 g/t silver; 8.04 g/t gold with 59 g/t silver; and 3.71 g/t gold with 9 g/t silver.
Ahki Zone
Three grab samples taken from the (A6 vein area) averaged 4.08 g/t gold, 8.6 g/t silver, 0.37% copper and 4.69% zinc. This vein occurs in an intermediate to felsic volcanic package located north east of the property, and points to the potential remobilized base metals from a proximal volcanogenic massive sulphide (VMS) style deposit.
To view the map of the entire Sturgeon River Property, highlighting the various zones of discovery and interest, please visit the following link:
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.
