TORONTO, March 26, 2013 /CNW/ - Laurion Mineral Exploration Inc. (TSX-V: LME) and (OTCQX: LMEFF) ("Laurion" or the "Corporation") is very pleased to announce that through collaborative participation with Animbiigoo Zaagi'igan Anishinaabek ("AZA"), Bingwi Neyaashi Anishinaabek ("BNA"), Biinjitiwaabik Zaaging Anishinaabek, Rocky Bay First Nation ("BZA"), Red Sky Independent Métis First Nations and Métis Nation of Ontario, the Sturgeon River property was renamed the "Ishkoday" Property.
The new project name was chosen through a draw of names submitted by the communities and means "Fire/Flint rock"("Ishkoday Ahsin") in Ojibwe (Anishnaabe), signifying the first techniques of mining in the area. The announcement was made by keynote speaker and First Nations leader Ovide Mercredi, at the Gala Event for the Grow Greenstone Expo, in Thunder Bay, Ontario on the evening of March 25, 2013.
Cynthia Le Sueur-Aquin, President and CEO of Laurion commented, "The name Sturgeon River and Quebec Sturgeon River has over the years created much confusion as to its location and is frequently confused with a number of other "Sturgeon" named properties located in northern Ontario. On acquisition of the Ishkoday ("Sturgeon River Property") in 2007, Laurion renamed many of their mineral discoveries with aboriginal names. The name Ishkoday celebrates the communities and their connection with their heritage lands. Laurion extends their appreciation to all the five communities, and in particular the Animbiigoo Zaagi'igan Anishinaabek ("AZA") for their participation and the proposal in the renaming of Laurion's project to Ishkoday. Laurion looks forward to its continued realization of its exploration successes on the Ishkoday property and prospective growth for the area."
About the Ishkoday Property
The Ishkoday property is located 220km northeast of Thunder Bay and 25km to the northeast of the town of Beardmore.
Laurion is the first exploration company to define a polymetallic environment in the Beardmore-Geraldton area.
Cynthia Le Sueur-Aquin, President and CEO of Laurion commented, "If our 2012 summer drill program was indicative of the Ishkoday property's potential, then it is best described as a series of three stacked gold rich base metal zones over a strike length of 3.0 km, enveloped by a large lower grade gold and base metal halo, which has a width of up to 100 metres. Drilling to date has been completed only down to the shallow depth of 100 metres. The results to date indicate the potential for a significant deposit over the total 9.0 km of strike length within a 1.0 km wide corridor. Added to this, we have information from our drilling which indicates that the grade and mineralized widths of those stacked gold rich base metal zones are increasing at depth. This information highlights the possibility of wider and richer zones."
To date Laurion has focused on the northwest corner of the property, but Le Sueur-Aquin points out that every part of the 2,500 hectare property "has delivered positive results to date," including a strong gold environment located on the western portion of the Ishkoday in the area of the historic gold mine shaft.
Prospecting results carried this past summer returned high grade values for gold, silver, copper and zinc with minor hits for lead. This prospecting program successfully extended and confirmed the surface footprint for mineralization on all three major trends.
Laurion's goal is to complete a NI 43-101 report, mostly focused on the upper part of the 3km long Loki Trend. Drilling for the report is yet to be completed; between 3,600 and 4,200m of drilling is projected for the forthcoming campaign.
About Laurion Mineral Exploration Inc.
Laurion Mineral Exploration Inc. is a junior mining company focusing on the upside of its 100%-owned Ishkoday property, a high impact project with 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 focus is on resource development at Ishkoday, located in Beardmore, Ontario, approximately 220km northeast of Thunder Bay.
Neither the TSX-V nor its Regulation Services Provider (as that term is defined in the policies of the TSX-V) accepts responsibility for the adequacy or accuracy of this news release.
This news release includes certain forward-looking statements concerning the future performance of Laurion's business, operations 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. 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 except as required by law.
SOURCE: Laurion Mineral Exploration Inc.
For further information:
Laurion Mineral Exploration Inc.
Cynthia Le Sueur-Aquin - President
Tel: 1-888-212-4070
Tel: 1-705-788-9186
Fax: 1-705-788-9187
Website : www.laurion.ca
