Laurion Mineral Exploration Inc.

Laurion Mineral Exploration Inc.

July 06, 2011 11:00 ET

Laurion Commences Drill Program on High Priority Targets on the Asha and Tehya Zones at the Sturgeon River Property, Beardmore, ON

TORONTO, ONTARIO--(Marketwire - July 6, 2011) - Laurion Mineral Exploration Inc. (TSX VENTURE:LME)(OTCQX:LMEFF) ("Laurion") is pleased to announce the commencement of an eight hole drill program on its Sturgeon River Property, Beardmore, Ontario. Six drill holes are planned to intersect strong targets recently defined in an induced polarization ("IP") survey carried out by Quantec Geoscience on the Asha Zone in March 2011. Two drill holes will examine the extent of the previously drilled Tehya zone at depth and along the 800 meter strike length between LME10-07 and LME11-17.

Asha Zone

Results from the IP survey on the Asha Zone located south of the Sturgeon River Mine area, indicated multiple strong chargeability anomalies, assumed to be associated with sulphides. A total of 92 samples were collected in September 2010 in a comprehensive prospecting program conducted over the Asha Zone, which resulted in gold values as high as 9.87 g/t gold and 136 g/t silver. Higher assay values were clustered along an east-northeast trend over an 1,800 metre strike length. The Asha Zone is adjacent to an 800 metre VLF EM anomaly that has no outcropping areas.

Highlights from the Asha Zone September 2010 sampling program included:

9.87 g/t gold with 136 g/t silver
8.04 g/t gold with 59 g/t silver
3.71 g/t gold with 9 g/t silver
2.49 g/t gold
2.04 g/t gold
1.51% zinc
10 additional samples grading between 0.5 g/t and 2 g/t gold

Tehya Zone

Two of the drill holes from this program, which will examine the extent of the Tehya zone at depth and one drill hole is to be located on the 800 metre strike between drill hole LME10-07 and drill hole LME11-017. In the event the Tehya mineralization is identified to have continuity in this round of drilling, the opportunity may exist to develop of a resource in this zone. The Tehya base metal zone appears to be one of several anomalous zinc/copper areas, which in combination with high grade gold and silver occurrences, is indicative of the multi-faceted potential of the Sturgeon River Property.

The Tehya base metal zone was drilled in the summer of 2010 and reported 0.45 g/t Au, 27.80 g/t Ag, 0.94% Cu and 3.91% Zn over 4.08 metres in drill hole LME10-07 within two parallel lenses of massive to semi-massive sulphides within sheared and brecciated volcanics. Drill hole LME11-017 was drilled before the spring break-up approximately 800 metres along strike of the "Tehya Extension" LME10-07 hole. The Tehya zone was successfully intersected approximately 30 metres vertically below surface and the assays from LME11-017 reported 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.

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 Minerals Exploration Inc.

The Corporation's focus is to make the transition in the near-term from explorer to 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, Canada and Nevada, USA.

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 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
    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)