Laurion Mineral Exploration Inc.
OTC Bulletin Board : LMEFF

Laurion Mineral Exploration Inc.

October 07, 2010 09:00 ET

Laurion Provides Update on Bell Mountain Drill Program

TORONTO, ONTARIO--(Marketwire - Oct. 7, 2010) - Laurion Mineral Exploration Inc. (TSX VENTURE:LME)(OTCBB:LMEFF) ("Laurion") is pleased announce the completion of the first ten holes of the Company's 2010 planned reverse circulation ("RC") drilling program on Bell Mountain project, Churchill County, Nevada, USA. The 2010 drilling program is expected to consist of 52 holes ranging in depth from 100 feet to 350 feet for a total of approximately 11,600 feet. Laurion anticipates adding a second drill rig in order to expedite the current drill program.

The RC track mounted drill rig is drilling both in-fill and resource expansion holes. Drilling, which is proceeding West to East along the northwest portion of the Varga mineralized zone, is achieving approximately 300 feet of penetration per shift. Drill holes are intercepting variably strong white stockwork quartz veining (sometimes banded, sometimes vuggy), often cutting a variably intense glassy quartz micro-veinlet stockwork and local hydrothermal brecciation. These intercepts are similar to areas observed from surface and from sectional drawings compiled by Bell Mountain's previous operator, N.A. Degerstrom, Inc. The rocks in the vicinity of the stockwork veining are generally broken and strongly silicified. These intervals appear to be mineralized.

"Hole 10 of the RC drill program had a planned depth of 250 feet, however the hole was extended for an additional 50 feet as it was apparent that the quartz vein stockwork persisted beyond the planned depth. Laurion expects to complete several drill holes on both the southwest and southeast side of the Varga Zone. The Varga and the Spurr zones have the best potential to increase gold-silver resources in order to generate a NI 43-101 compliant resource and reserve estimate," commented Cynthia Le Sueur-Aquin, President of Laurion Mineral Exploration Inc.

To date, a total of 211 samples from the RC drill program have been shipped to American Assay Laboratories in Sparks, Nevada.

The technical information contained in this news release has been verified by Dana Durgin (MSc, P.Geo), consulting geologist with and project manager for Laurion's Bell Mountain project and is a Qualified Person as defined in "National Instrument 43-101, Standards of Disclosure for Mineral Properties."

About Laurion Mineral 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. 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)