Laurion Mineral Exploration Inc. (TSX VENTURE:LME)(OTCBB:LMEFF) ("Laurion") is pleased to provide a detailed update on the Company's exploration and drilling programs on the Sturgeon River Property in Beardmore, Ontario.
In mid-October, Laurion plans to launch a comprehensive follow-on exploration program at Sturgeon River, including more than 4,000 metres of diamond drilling, ground geophysics, and mapping, stripping, washing, and channel sampling. An outline of recent results and anticipated exploration programs from each of the targeted zones is outlined below.
Highlights of Recent Results and Drilling and Exploration Program Outline
- Tehya Zone
Based on core angle indicators the true thicknesses of the mineralized zones in the 2010 drilling are estimated to be 85-95% of drill hole intersection widths.
The Tehya Zone, which is located 1 kilometre northeast of the Sturgeon River Mine and may be a gold rich volcanic massive sulphide ("VMS") zone, is a high priority exploration target. Approximately 30 metres southwest and possibly on strike with a surface exposure of the Tehya zone, a quartz vein (A-11 vein) was sampled and returned 57.2 g/t gold and 21.1 g/t silver. To determine the structural relationship of these mineralized zones, Laurion recently stripped and washed a 10 metre wide by 70 metre long area of the Tehya Zone, which will be mapped and channel sampled in order to help design future ground geophysics programs. The copper-zinc-silver-gold intersection for drill hole LME10-07 is approximately 50 metres southwest along strike and 30 metres down dip of the Tehya surface showing, suggesting a southwest plunge to the zone. A diamond drill program of 2 to 4 holes will be completed in January 2011 to determine the strike length and plunge of the Tehya zone.
- Sturgeon River Mine
These sample results from vein No. 3 and 3b highlight the high grade and lateral extent of the Sturgeon River Mine vein systems. Historically, this mine produced 73,322 oz of gold from 1936 to 1942 from 145,183 tons grading 17.3 g/t gold (manually upgraded from a mined grade of 10.3 g/t). The following estimates of resources and reserves do not conform to the current National Instrument 43-101 standards, and should not be relied upon.
A historical 1942 ore reserve estimate (non 43-101 compliant) was made prior to the closing of the mine. The reserve material was blocked out by underground drifting and raising down to the 530 metre level. At that time, it was calculated that Sturgeon River contained 130,680 tons with an average grade of 10.45 g/t gold. In addition to this historical reserve estimate, a 1986 report estimated that 400,000 tons of ore at 5.2 g/t was contained between the lowest mine development on the 530 metre level and the bottom of the shaft at the 640 metre level. Below the 640 metre level, the zone has been untested. The underground mine exploration work indicated that the main zone (No. 3 vein) and development of multiple veins intersecting the No. 3 vein (No.10, 11 and M veins) in the lower mine levels was increasing the shoot strike length and presenting multiple intersecting veins, resulting in wider mineralized zones at depth.
A drill program of approximately 2,800 metres consisting across 6 deep holes is expected to begin in October 2010. The program will test the down plunge extent of the Sturgeon River Mine below the 530 metre level, the purpose of which is to acquire sufficient information to complete a National Instrument 43-101 compliant ore resource report. A recently completed 3D model of the mine workings will be used to target this drilling.
- Tala Zone
The Tala Zone is a high priority area for shear hosted gold and base metals, is located west of the Sturgeon River Mine, and appears to trend from Kodiak's Brenbar Property eastward onto the Sturgeon River Property. A program of ground geophysics is planned over the east-northeast trend which extends more than 1,000 meters in strike length. A diamond drill program is planned for January 2011.
- Asha Zone
The Asha Zone is a priority target for shear hosted gold and possible gold rich VMS style deposits and is located south of the Sturgeon River Mine area. A program of ground geophysics (IP and magnetic) is planned over the east-northeast trend which extends more than 800 metres in strike length, and will also test a historical 800 metre long overburden covered VLF-EM anomaly that occurs parallel to the Asha shear and has never been tested. A follow-up diamond drill program is planned for January 2011.
- The Ahki Zone
The Ahki zone is a high priority target for a VMS deposit with high grade gold potential and is located approximately 1.5 kilometres northeast of the Sturgeon River Mine. The Ahki zone is composed of a series of veins (A4 and A6) which are exposed over a strike length of approximately 75 metres. These veins extend from a historical VLF EM anomaly with a 450 metre strike length to the south of the A6 vein, and this anomaly has an extensive down ice dispersion zinc in soils (1970 survey) anomaly. The zinc and copper in the A-6 vein are thought to be a possible introduction from the vein passing through a VMS deposit. A program of ground geophysics (IP and magnetic) is planned over this Ahki zone with a follow-up program of 4-5 holes of diamond drilling on promising targets.
- Other Targets
There are more than 60 named quartz veins across the Sturgeon Property which have all been shown in historical channel sampling to be gold bearing and have the potential for high grade gold values. As an example, Laurion intersected 0.36 metres of 20.7 g/t gold in drill hole LME10-01 completed in June of 2010. In several cases, these veins form sets of relatively closely spaced sub-parallel vein packages. Drilling by Placer Dome in 1988 targeted several of these veins and returned several anomalous intersections including 18.17 g/t gold over 0.61 metres on the 85A-2 vein. Of interest to Laurion are areas of more extensive sampling showing wider lower grade mineralized zones, including 4.05 metres of 1.15 g/t gold in the A-3 area. These zones of mineralization were associated with quartz flooding and shearing in rhyolitic porphyries with visible zinc mineralization and at the contact of rhyolites with felsic intrusives. This mineralizing style may be indicative of a larger lower grade deposit type on the property. Additionally basal till sampling in 1984 revealed an area of gold anomalism (up to 1 g/t gold) located approximately 300 meters north of the Sturgeon Mine area. This anomaly has never been tested. Follow up drilling and exploration programs are planned on these target types in 2011.
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 is a Qualified Person as defined in "National Instrument 43-101, Standards of Disclosure for Mineral Properties."
Source:
Laurion Mineral Exploration Inc.