TORONTO / February 27, 2014 / Laurion Mineral Exploration Inc. (TSX.V: LME; OTCQX: LMEFF) ("Laurion") is pleased to announce the drill results of the first diamond drill holes completed in 2014 on its Ishkoday Property located northeast of Beardmore, Ontario.
The drill program was composed of a total of 533m of diamond drilling completed in 4 holes. Two diamond drill holes followed up on the high grade channel and grab samples of 15.00 g/t Au, 35.4 g/t Ag, 1.07% Zn and 0.41% Cu over 1m, 3.14 g/t Au, 23.2 g/t Ag, 2.62% Zn, 0.20% Cu and 0.15% Pb over 3m, 10.20 g/t Au, 45.5 g/t Ag, 22.30% Zn and 3.32% Pb (Grab) reported in a press release in November 2013.
Laurion will be displaying the core from hole LME14-030 at their booth 3025 at the Prospectors and Developers Association of Canada (“PDAC 2014”) Convention held in the South Building of the Metro Convention Centre, 222 Bremner Blvd, Toronto, from Sunday March 1st to Wednesday March 5th, 2014.
Holes LME14-030 and LME14-031 were collared to intersect geology associated with the Loki/A-Zone mineralization reported in Laurion drilling carried out in 2012, but 700m southwest of that drilling. LME14-030 was collared on a folded structure in the Loki/A-Zone trend geology that changes the strike of the stratigraphy from north-west to due north, and it is 220m south of LME11-013 (3.10m @ 3.22 g/t Au, 27.5 g/t Ag, 0.38% Cu, 5.63% Zn), which also occurs on this structure. Assay results are as follows:
Drill hole LME14-030 had a planned depth of 100m. The hole ended in mineralization at a down hole depth of 107m.
Drill Hole LME14-031 was collared 40m south of LME14-30 on the same north trending structure. Assay results are as follows:
Two diamond drill holes followed up on the diamond drill program executed in 2012 across 500 metres of stratigraphy on the northeastern extension of the "A"-Zone on the Loki trend. The precious metal rich Volcanic Massive Sulphide ("VMS") Loki trend has a postulated 3,000m strike length. Assay results from these two holes, LBX14-016 and LBX14-017 are still awaited.
All sampling from this diamond drill program was 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 3.0 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 Allan Armitage, Ph. D., P.Geo., consulting geologist with GeoVector Management Inc. Mr. Armitage is the project manager for Laurion's Ishkoday project and is a Qualified Person as defined in "National Instrument 43-101, Standards of Disclosure for Mineral Properties."
About Laurion Minerals Exploration Inc.
Laurion Mineral Exploration Inc. is a junior mining company focusing on the discovery and upside of its 100%-owned Ishkoday Property, a high impact VMS project, having a primary focus on gold and base metals.
With proven ability to develop early stage projects and create shareholder value by monetizing its discoveries and assets, Laurion has realized a total of $6.35 million in the last two years from monetization of its assets.
The Corporation's current emphasis is on resource development at the Ishkoday Property, located in Beardmore, Ontario, approximately 220 km northeast of Thunder Bay.
FOR FURTHER INFORMATION, CONTACT:
Laurion Mineral Exploration Inc.
Cynthia Le Sueur-Aquin - President
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.
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
Release ID: 34560