Laurion Mineral Exploration Inc.
TSX VENTURE : LME
OTC Bulletin Board : LMEFF

Laurion Mineral Exploration Inc.

August 31, 2010 11:07 ET

Laurion Announces Drill Results on the Marge Vein, Sturgeon River, Beardmore, ON

TORONTO, ONTARIO--(Marketwire - Aug. 31, 2010) - Laurion Mineral Exploration Inc. (TSX VENTURE:LME)(OTCBB:LMEFF) ("Laurion") announces the drill results from the Marge Vein, Sturgeon River Property, Beardmore, Ontario.

"Drilling of the Marge vein is geared to defining a Sturgeon River style gold deposit. The Marge vein is outcropping on surface and thus is available for quick mine development. There is great potential for wider zones of mineralization as there are 10 other veins subparallel or obliquely crossing the Marge vein and, the adjacent host rock is mineralized," reported Cynthia Le Sueur-Aquin, Laurion's President and CEO.

Highlights of Marge Vein
  1. Five holes were drilled in June 2010 over a 150 m strike length of the Marge vein and were designed to intersect an area of the vein that had indications of high grade gold from historical trenching and channel sampling.
  2. Drill Hole LME10-01 reported a high grade gold intercept of 20.20 g/t over 0.36 m on Marge Vein.
  3. Drill Hole LME10-03 reported 1.30 g/t Au over 0.23 m from 24.08-24.31 m, contained within a 7.5 m shear zones which returned 0.18g/t Au over 7.5 m.
  4. Drill Hole LME10-04 reported 0.65 g/t Au over 1.00 m from 22.00-23.00 m (Marge Vein) and a second zone of 0.63 g/t Au over 1.00 m from 43.50-44.50 m (Sulphide Zone).
  5. Drill Hole LME10-05 reported 3.34 g/t Au over 1.03 m from 48.47-49.50 m (Marge Vein). This intersection has a lower grade halo mineralization, averaging 1.03 g/t Au over 3.78 m. LME10-05 also contained a second zone of gold mineralization grading 0.49 g/t Au over 3.00 m from 22.00-25.00 m (Shear Zone).
  6. 155 m of Marge vein is exposed by trenching and has been channel sampled. Accumulated channel samples averaged 25 g/t gold over an average of 0.36 m of vein width (1984).
  7. 47 m of the Marge vein was exposed by trenching in 2008 and achieved an average grade of 17 g/t over 0.47 m in channel sampling.
  8. Drill results from LME10-01 and channel sample results confirm the historical high grade for this vein.

The Marge vein is contained within a sheared diorite and hosted minor pyrite. The drill holes were designed to intersect the vein at right angles. The Marge vein contacts were normal to core axis and is believed to be true thickness. The Marge vein the drilling width ranged from 10 cm to 45 cm and the altered sheared wallrock extended for a few meters on both the footwall and hangingwall contacts of the vein.

In 2008, Laurion collected six samples of host rock adjacent to the Marge vein which ranged up to 1.06 g/t gold and averaged 0.40 g/t gold, indicating the potential for the host rock between veins to carry gold grade. This is important as there are reports of at least ten other veins subparallel or obliquely crossing the Marge vein, creating the opportunity for wider zones of mineralization. Recent sampling of the Marge vein host rock (granodiorite) by GeoVector (two samples) averaged 0.26 g/t gold, supporting the historic reports of anomalous host rock. Comprehensive sampling of the wallrock could indicate a better overall grade over a mining width.

The entire drill core from the 2010 first phase drill program was logged, split and sampled at a secure core facility in Jellicoe, Ontario. Samples were delivered by GeoVector personnel to the Activation Laboratories ("Actlabs") facility in Thunder Bay. Actlabs is an ISO/IEC 17025 accredited analytical laboratory. Analysis was by fire assay with AA finish. 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 routinely inserted blanks and certified standards into the sample stream in order to independently assess analytical accuracy.

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 Churchill County, 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. 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 Information

  • Laurion Mineral Exploration Inc.
    Cynthia Le Sueur-Aquin
    President
    1-705-788-9186
    1-705-788-9187 (FAX)
    www.laurion.ca