Laurion Mineral Exploration Inc.

Laurion Mineral Exploration Inc.

December 06, 2010 09:00 ET

Laurion Intercepts 15.4 Metres of 2.39 g/t Gold and 23.9 g/t Silver and 30.48 Metres of 0.62 g/t Gold and 12.1 g/t Silver, Including 4.57 Metres of 2.61 g/t Gold and 37.8 g/t Silver from Surface

TORONTO, ONTARIO--(Marketwire - Dec. 6, 2010) - Laurion Mineral Exploration Inc. (TSX VENTURE:LME)(OTCQX:LMEFF) ("Laurion") is pleased to announce RC ("reverse circulation") drill results for holes BMG-21 through BMG-30 from the Company's 56 hole drill program at its 100% owned Bell Mountain Project located in Churchill County, Nevada.

Highlights from these 10 drill holes include 15.4 metres grading 2.39 g/t gold and 23.9 g/t silver in drill hole BMG-22 and 30.48 metres grading 0.62 g/t gold and 12.1 g/t silver, including 4.57 metres grading 2.61 g/t gold and 37.8 g/t silver in drill hole BMG-28. Assay results are summarized in the table below:

Hole ID   From
BMG-21   40   55   15   4.57   0.49   5.19
    165   185   20   6.10   0.49   14.1
    225   255   30   9.14   0.22   14.2
BMG-22   0   50   50   15.24   2.39   23.9
    70   140   70   21.34   0.99   18.4
    185   210   25   7.62   0.24   8.4
    235   255   20   6.10   0.24   17.8
BMG-23   95   125   30   9.14   0.64   13.0
    220   235   15   4.57   0.36   7.8
BMG-24   0   25   25   7.62   0.25   6.8
    155   195   40   12.19   0.28   15.8
BMG-25   130   130   10   3.05   0.61   9.3
BMG-26   50   60   10   3.05   0.41   6.8
    85   110   25   7.62   0.30   5.2
BMG-27   110   125   15   4.57   0.40   5.9
    220   250   30   9.14   0.25   11.2
BMG-28   0   100   100   30.48   0.62   12.1
Including   35   50   15   4.57   2.61   37.8
    230   250   220   67.06   0.28   9.4
BMG-29   130   200   70   21.34   0.62   16.9
BMG-30   No significant intercepts.    

Drill holes BMG-21, 23, 25, 27, and 29 were drilled in the Eastern portion of the Varga resource area, from South to North. These drill holes indicate that mineralization persists East of the historic drill holes. The body of mineralization narrows but is continuous and confirms similar encouraging grades indicated in the historic drill holes.

Drill holes BMG-22, 24, 26 and 28 were drilled in the Southwestern portion of the main Varga zone. These holes indicate that mineralization extends to the West with continued positive grades. Hole BMG-22 is located in the West-Northwest trending fault zone that separates the Varga deposit into two sections (the "Varga Split"). This West-Northwest trending fault zone intersected a very high grade interval. Holes BMG- 19 and 20, which are located in this same fault zone, intersected 7.62 metres of 0.61 g/t Gold and 9.8 g/t Silver; 3.05 metres of 0.36 g/t Gold and 4.4 g/t Silver; and 10.67 metres of 0.44 g/t Gold and 8.6 g/t Silver. (See press release dated November 23, 2010)

The encouraging grades in the drill holes of the main Varga mineralized zone indicate that the Varga zone persists but narrows to the East. In the Western portion of the main Varga zone, the drill holes display good continuity. In the fault zone which separates the main Varga zone from the Western Varga mineralized zone, the width and distribution of the mineralized intervals coincides generally with those predicted from the interpretation of drill hole logs and cross sections.

"Assay results from BMG-21 through BMG-30 are most encouraging and continue to confirm the continuity of mineralization indicated in historic drilling," commented Cynthia Le Sueur - Aquin, President and Chief Executive Officer of Laurion Mineral Exploration Inc. "Drilling below and lateral to the older phases of drilling is successfully expanding the known resource down dip laterally into areas with few historic drill holes."

Qualified Person

The technical information contained in this news release has been verified by Mr. Dana C. Durgin (MSc, P.Geo), Laurion's Exploration Manager, and Mr. Douglas R. Wood (MSc, P.Geo), are the Qualified Persons responsible for the scientific and technical work (as defined under National Instrument 43-101) discussed in this press release, and have reviewed 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. (TSX:GMX)(FRANKFURT:G1M) ("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.

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 expected timing of assay results. 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
    1-705-788-9187 (FAX)