Laurion Mineral Exploration Inc. (TSX VENTURE: LME)(OTCQX: LMEFF)
("Laurion") announces assay results from drilling carried out in
April on the North East Grid of a polymetallic base metal target on
its Sturgeon River Property, Beardmore, Ontario. All 7 holes
Intersected Au, Ag, Cu, Zn mineralization. As a result of this
drill program, Laurion has identified the potential for a precious
metal rich VMS deposit. Several separate mineralized horizons were
tested within a package of intermediate to felsic fragmental
volcanics adjacent to diorite/granodiorite porphyry. The targets
tested included two holes on the Ahki Zone (2010 grab sample of
6.76 g/t Au, 8.5 g/t Ag, 0.70% Cu and 10.2% Zn), one hole on the
extension to the Tehya Zone (previously reported 0.45 g/t Au, 27.80
g/t Ag, 0.94% Cu and 3.91% Zn, over 4.08 m in drill hole LME10-07
located 600 metres southwest of the current drilling), one hole
targeting a 450 metre long VLF anomaly (1984 survey), and three
holes targeting IP anomalies defined from IP and Magnetic Surveys
completed in March 2011 by Quantec Geoscience.
Highlights of the results include:
- LME11-013 - 3.10 g/t Au, 27.5 g/t Ag, 0.38% Cu and 5.63% Zn over 3.10
metres
Including 0.80 g/t Au, 10.40 Ag, 77.1 g/t Ag, 0.83% Cu and 14.30% Zn over
0.80 metres on the Ahki Zone.
- LME11-017 - 0.10 g/t Au, 10.1 g/t Ag, 0.11% Cu and 2.85% Zn over 5.85
metres
Including 0.05 g/t Au, 14.9 g/t Ag,0.21% Cu and 9.79% Zn over 1.30 metres
on the extension to the Tehya Zone.
DRILL RESULTS
1984 VLF target
Drill hole LME11-011 targeted a strong VLF anomaly outlined in a
1984 survey done by Phoenix Exploration Ltd. The targeted zone was
intersected 68 metres downhole (50 metres vertically below surface)
and consisted of a 9.2 metre thick zone of highly silicified and
altered intermediate volcanics at the contact with diorite
porphyry. Assays included:
----------------------------------------------------------------------------
Hole From To Interval Au g/t Ag g/t Cu % Zn %
----------------------------------------------------------------------------
LME11-011 68.00 77.20 9.20 0.23 2.5 0.08 0.47
----------------------------------------------------------------------------
LME11-011 Including 68.00 70.45 2.45 0.55 4.0 0.08 1.25
----------------------------------------------------------------------------
Laurion believes this horizon is prospective for precious metal
rich VMS mineralization, and the company intends to carry out
follow-up drilling along the 450 metre strike length of the anomaly
and to also drill the zone down dip.
Ahki Zone drilling
Two holes were drilled 25 metres apart to test a surface
exposure of the Ahki zone. This zone is represented by a
Au/Zn/Cu/Ag vein up to 1.5 metres wide on surface. Drill hole
LME11-012 tested the zone 20 metres vertically below the surface
mineralization, and hole LME11-013 tested the zone 25 metres along
strike to the northeast of LME11-012 and 15 metres vertically below
surface. Both holes intersected the zone with the following
results:
----------------------------------------------------------------------------
Hole From To Interval Au g/t Ag g/t Cu % Zn %
----------------------------------------------------------------------------
LME11-012 20.50 27.00 6.50 0.09 1.0 0.02 0.74
----------------------------------------------------------------------------
LME11-012 Including 26.50 27.00 0.50 0.76 4.3 0.05 7.90
----------------------------------------------------------------------------
LME11-013 19.25 22.35 3.10 3.22 27.5 0.38 5.63
----------------------------------------------------------------------------
LME11-013 Including 19.25 20.05 0.80 10.40 77.1 0.83 14.30
----------------------------------------------------------------------------
This zone remains open along down dip and along strike,
particularly to the south where the Ahki Zone intersects the VLF
Target Zone noted above. Laurion is very encouraged by the high
grade potential of this mineralization.
IP Targets
Three IP targets were defined by GeoVector Management and each
was targeted with a single drill hole (LME11-014 to 016
respectively). All these holes intersected extensive zones of
disseminated and stringer style zinc mineralization (sphalerite)
and associated low grade gold and silver and occasional copper
mineralization. The zones were contained within a package of felsic
to intermediate fragmental volcanics. The best results include:
---------------------------------------------------------------------------
Hole From To Interval Au g/t Ag g/t Cu % Zn %
---------------------------------------------------------------------------
LME11-014 29.50 30.00 0.50 0.12 3.5 0.06 7.94
---------------------------------------------------------------------------
LME11-014 134.00 134.50 0.50 0.25 8.4 0.28 2.91
---------------------------------------------------------------------------
LME11-015 82.75 83.35 0.80 0.45 3.3 0.05 2.03
---------------------------------------------------------------------------
LME11-015 93.90 96.25 2.35 0.94 3.3 0.07 0.48
---------------------------------------------------------------------------
LME11-016 57.90 58.40 0.50 0.15 12.9 0.01 4.52
---------------------------------------------------------------------------
LME11-016 58.40 59.40 1.00 0.91 2.8 0.02 0.52
---------------------------------------------------------------------------
These drill holes were Laurion's first test of a 3.5 kilometre
zone of alteration and mineralization defined by prospecting and
geophysics and extending southwest toward the Asha Zone. Laurion
believes this horizon is prospective for precious metal rich VMS
mineralization, and the company intends to carry out follow-up
drilling along its entire strike length and down dip on the
mineralized intersections.
Tehya Extension
IP and magnetic survey results indicated an anomalous trend
extending northeast from the Tehya Zone which was drilled in 2010
(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). A hole was spotted approximately 600 metres
along strike of the Tehya (LME11-017), and this "Tehya Extension"
hole was the final one drilled before the spring break-up ended the
drill program. The targeted zone was intersected approximately 30
metres vertically below surface and results include:
----------------------------------------------------------------------------
Hole From To Interval Au g/t Ag g/t Cu % Zn %
----------------------------------------------------------------------------
LME11-017 38.00 43.85 5.85 0.10 10.1 0.11 2.85
----------------------------------------------------------------------------
LME11-017 Including 39.65 40.95 1.30 0.05 14.9 0.21 9.79
----------------------------------------------------------------------------
Laurion is encouraged by the potential of at least 600 metres of
strike length on the Tehya Zone between holes LME10-07 and
LME11-017. This target has not been drilled more than 30 metres
vertically below surface and remains open down dip and along strike
southwest of LME11-07 towards an IP anomaly defined by the Quantec
survey near the Asha Zone. The zone is also open to the northeast
beyond drill hole LME11-017. This zone will be a priority target in
the next drill campaign.
The drilling was carried out by Cobra Drilling and was managed
by GeoVector Management Inc. The program was designed to include
several more holes but these were not completed due to spring
break-up conditions. Once ground conditions stabilize, it is
planned to drill these holes and to add follow-up holes on
favourable mineralization intersected in the April drill program.
The current drill intersections into the mineralized zones have
generally only been tested 30-50 metres below surface, and the
strike and dip extensions have not yet been tested.
The follow-up drill program will also include drilling of
targets on the South West Grid (Asha Zone 2010 grab sample of 9.87
g/t Au, 136 g/t Ag) where IP and magnetic survey results have been
received and several more targets have been defined, and extensions
of gold, silver and zinc mineralization on the Tala Zone (2010 grab
sample of 124 g/t Au, 79 g/t Ag).
Drill holes reported here were designed to intersect the
mineralized horizons as close to normal to strike and dip as
possible. All holes intersected the mineralized zones at 60-70
degrees to core axis, and true widths are interpreted to be 80-90%
of drill intersection widths.
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.
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
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.
Contacts: Laurion Mineral Exploration Inc. Cynthia Le
Sueur-Aquin President 1-888-212-4070 or 1-705-788-9186
1-705-788-9187 (FAX) Laurion Mineral Exploration Inc. Karen Doxsee
Vice President, Corporate Communications 1-888-212-4070 or
1-705-788-9186 1-705-788-9187 (FAX) www.laurion.ca
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