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

Laurion Mineral Exploration Inc.

May 26, 2011 09:00 ET

Laurion Intersects 3.10 g/t Au, 27.5 g/t Ag, 0.38% Cu and 5.63% Zn Over 3.10m and 0.10 g/t Au, 10.1 g/t Ag, 0.11% Cu and 2.85% Zn Over 5.85m from Precious Metal Rich VMS Horizon at Sturgeon River

TORONTO, ONTARIO--(Marketwire - May 26, 2011) -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
Including0.05 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:

HoleFromToIntervalAu g/tAg g/tCu %Zn %
LME11-01168.0077.209.200.232.50.080.47
LME11-011Including68.0070.452.450.554.00.081.25

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:

HoleFromToIntervalAu g/tAg g/tCu %Zn %
LME11-01220.5027.006.500.091.00.020.74
LME11-012Including26.5027.000.500.764.30.057.90
LME11-01319.2522.353.103.2227.50.385.63
LME11-013Including19.2520.050.8010.4077.10.8314.30

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:

HoleFromToIntervalAu g/tAg g/tCu %Zn %
LME11-01429.5030.000.500.123.50.067.94
LME11-014134.00134.500.500.258.40.282.91
LME11-01582.7583.350.800.453.30.052.03
LME11-01593.9096.252.350.943.30.070.48
LME11-01657.9058.400.500.1512.90.014.52
LME11-01658.4059.401.000.912.80.020.52

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:

HoleFromToIntervalAu g/tAg g/tCu %Zn %
LME11-01738.0043.855.850.1010.10.112.85
LME11-017Including39.6540.951.300.0514.90.219.79

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.

Contact Information

  • 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