Laurion Mineral Exploration Inc.
TSX VENTURE : LME
OTCQX : LMEFF

Laurion Mineral Exploration Inc.

December 10, 2010 09:00 ET

Laurion Intercepts 7.62 Meters of 28.6 g/t Silver and 3.37 g/t Gold and Continues to Expand Mineralization at Bell Mountain

TORONTO, ONTARIO--(Marketwire - Dec. 10, 2010) - Laurion Mineral Exploration Inc. (TSX VENTURE:LME)(OTCQX:LMEFF) ("Laurion") is pleased to announce the RC ("reverse circulation") drill results for holes BMG-31 to BMG-44 from the Company's 56 hole drill program at its 100% owned Bell Mountain Project located in Churchill County, Nevada.

Summarizing the recent drill results from the Varga zone, Cynthia Le Sueur-Aquin, President of Laurion Mineral Exploration Inc. states, "This drill program has been most successful in substantially increasing the size of the Varga zone and confirming the grades of the historic drilling in the main Varga zone. The drilling has expanded the body of heap-leach grade mineralization to an additional 12 to 30 meters as well as extended the zone both to the East and West for 20 to 30 meters. The drilling was also successful in identifying and delineating the economically significant South Fault mineralization along the southern boundary of the main Varga Zone. Drilling of the western 200 meters of the Varga deposit clearly defined the extent and continuity of similar heap-leach grade mineralization from sampled cross-cuts in the Varga adit to outcropping mineralization 75 meters above at the surface, indicating that the mineralization persisted for at least 25 meters below the adit level." 

A total of 11,220 feet (3,421 meters)of RC drilling was completed on the Varga Zone in holes BMG-1 to BMG-42 and BMG-44, and a total of 3,020 feet (921 meters) was completed on the Spurr Zone in holes BMG-43 and BMG-45 to BMG-56. Assays from drill holes BMG-45 through BMG-56 are pending and shall be released upon availability. Highlights from these 14 drill holes include 7.62 meters grading 3.37 g/t gold and 28.6 g/t silver. Assay results are summarized in the table below.

Highlights for drill holes BMG-31 to BMG-44 are as follows:
             
Hole ID From (ft.) To (ft.) Interval (ft.) Interval (m) Au (g/t) Ag (g/t)
BMG-31 50 60 10 3.05 0.48 5.3
  135 145 10 3.05 0.38 7.1
  185 265 80 24.38 0.62 12.5
             
BMG-32 125 230 105 32.0 0.27 17.4
             
BMG-33 25 35 10 3.05 0.29 3.1
  100 120 20 6.10 0.56 14.3
  225 270 45 13.72 0.33 11.4
             
BMG-34 0 10 10 3.05 0.36 4.6
  35 45 10 3.05 0.28 5.3
  130 140 10 3.05 0.17 5.7
  230 295 65 19.81 0.31 21.2
             
BMG-35 0 50 50 15.24 0.38 6.9
  85 105 20 6.10 0.33 4.7
  220 245 25 7.62 0.28 20.5
             
BMG-36 165 195 30 9.14 0.25 10.6
  245 305 60 18.29 0.41 33.2
             
BMG-37 20 40 20 6.10 0.38 6.6
             
BMG-38 75 100 25 7.62 3.37 28.6
  115 155 40 12.19 0.24 8.8
             
BMG-39 240 330 90 27.43 0.29 15.8
  360 370 10 3.05 0.26 17.0
             
BMG-40 50 120 70 21.32 0.65 20.8
  135 150 15 4.57 0.16 10.2
             
BMG-41 220 290 70 21.32 0.28 12.8
  350 380 30 9.14 0.21 17.9
             
BMG-42 110 145 35 10.67 0.17 15.3
             
BMG-44 35 50 15 4.57 0.15 20

The assay results of BMG-31, 33, and 35, which were drilled below the central portion of the main Varga deposit, confirm and extend mineralization to depths of 12 to 30 meters below the historic drilling. The grade and continuity of previously unknown mineralization along the south side of the Varga body, in the zone named the South Fault, was also confirmed by these holes.

Holes BMG-32, 34, 36-42 and 44 were drilled in the western half of the Varga deposit, above the Varga adit along 200 meters of strike length. This area had few historic drill holes and was not included in any prior resource calculations. These drill holes confirmed the continuity of mineralization along strike and from the surface vein outcrop down to the level of the Varga adit. The drill results indicate that the mineralized zone is in fact wider than the exposures in the Varga adit workings. 

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. (TSE: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 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