Laurion Mineral Exploration Inc.

Laurion Mineral Exploration Inc.

December 13, 2010 09:00 ET

Laurion Mineral Exploration Inc.: Spurr Assay Results Confirm and Extend Mineralized Zone to Depth

TORONTO, ONTARIO--(Marketwire - Dec. 13, 2010) - Laurion Mineral Exploration Inc. (TSX VENTURE:LME) (OTCQX:LMEFF) ("Laurion") is pleased to announce the RC ("reverse circulation") drill results for holes BMG-43 to BMG-56 from the 56 hole drill program at the Corporation's 100% owned Bell Mountain Project located in Churchill County, Nevada. 

Cynthia Le Sueur-Aquin, President of Laurion Mineral Exploration Inc. stated, "This drill program effectively delineated the eastern and western limits of the main Spurr body and was successful in extending the mineralization to a minimum of 20 meters down-dip, reflecting similar grades to the mineralization returned in historic drilling. The drill program also demonstrates the opportunity to expand the mineralization by additional drilling. The Spurr zone and Varga zone will be evaluated in an upcoming resource estimate."

A total of 3,020 feet (921meters) was completed in 12 RC drill holes on the Spurr zone. The drill program was designed to: (i) test and expand the mineralized body down dip 45 degrees by an additional 20 meters; and, (ii) test the potential strike extensions to the east in the zone adjacent to the Varga deposit. The drill hole program at the Spurr zone was purposefully designed for close-spaced drill holes to enable resource calculation and modeling.

Drilling confirmed that mineralization of the Spurr Zone persists to depth, but is terminated by faulting in eastern and western extensions of the zone evident in holes BMG-46 and 56. Hole BMG-43 reflected that the modest grade mineralization and thickness continued as a fault off-set block between the Spurr and Varga deposits. Grade intercepts close to the surface shown in holes BMG-51, 53 and 55 as well BMG-43, indicate that additional drilling may be required to pursue the mineralization down dip. Hole BMG-45 duplicated a prior hole which was halted in good mineralization, and was designed to extend 20 meters into the footwall to test for parallel veins. BMG-45 was successful in duplicating historic grades and showed no parallel veins at greater depths.

Significant assay results from this drilling are tabulated below:

Hole ID From (ft. ) To (ft. ) Interval (ft. ) Interval (m ) Au (g/t ) Ag (g/t )
BMG-43 40   55   15   4.57   0.35   20.6  
BMG-45 90   110   20   6.10   0.34   9.1  
BMG-46 No Significant Intercepts (faulted)  
BMG-47 110   150   40   12.19   0.39   25.2  
  150   170   Vein material, poor core recovery  
BMG-48 200   250   50   15.24   0.49   23.5  
BMG-49 230   240   10   3.05   0.27   12.3  
  250   285   35   10.67   0.27   12.5  
BMG-50 290   315 (end ) 25   7.62   0.35   14.9  
BMG-51 65   75   10   3.05   0.45   21.1  
  110   135   25   7.62   0.20   9.2  
  155   185   30   9.14   0.35   12.2  
BMG-52 340   350   10   3.05   0.41   17.5  
BMG-53 0   20   20   6.10   0.24   10.8  
  40   55   15   4.57   0.17   10.4  
  70   120   50   15.24   0.26   15.4  
  140   165   25   7.62   0.21   14.0  
BMG-54 240   255   15   4.57   0.19   11.0  
BMG-55 50   60   10   3.05   0.21   13.3  
BMG-56 No significant intercepts (faulted)  

Qualified Persons

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)